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Healthcare Happenings

August 2018 Healthcare Hot Takes: GlaxoSmithKline and 23andMe look to improve the future of pharma with genomics

Healthcare Hot Takes is Luma Health’s monthly rundown of healthcare innovations happening right now. Check out what the industry is thinking, reading, doing. STORY #1 GlaxoSmithKline is acquiring a $300M stake in 23andMe to overhaul its drug research and development. GlaxoSmithKline (GSK) is staking $300M into everyone’s favorite DNA home test kit company 23andMe in order to revamp its drug discovery process and stay competitive in the pharmaceutical industry. The company hopes to use genetic data to hone in on drug targets and to better identify patients for clinical trials. The four year collaboration will aim at making the entire drug process more efficient. […]

Ramesh Munnangi

Healthcare Happenings

How Should Traditional Providers Deal with the Threat of Retail Clinics?

Primary care has never had it tougher. From 2012 to 2016, primary care office visits have dropped 18%. The volume slump could be chalked up to a number of factors. High-deductible health plans have made patients hold off on seeking care; younger patients prefer telemedicine — or even email — for non-urgent health issues; and many patients skip the doctor’s office altogether and consult online resources to direct their care. But the biggest cause, by far, of primary care’s decline? You may already know: it’s the rise of retail clinics. The success of this relatively young business model has been astonishing. Over the […]

Matt Seidholz

Healthcare Happenings

July 2018 Healthcare Hot Takes: Amazon-JP Morgan-Berkshire Hathaway healthcare initiative takes off with Atul Gawande as CEO

Healthcare Hot Takes is Luma Health’s monthly rundown of healthcare innovations happening right now. Check out what the industry is thinking, reading, doing. STORY #1 Atul Gawande chosen to lead Amazon-J.P. Morgan-Berkshire Hathaway initiative. After a long and arduous search, the new healthcare initiative between Amazon, J.P. Morgan, and Berkshire Hathaway finally has its man. Renowned surgeon and author, Dr. Atul Gawande, has been chosen to lead the much publicized venture and he hopes to bring his expertise in medicine and health policy in an aim to bring down healthcare costs for employees and families of the three entities. As a […]

Ramesh Munnangi

Healthcare Happenings

Chief Patient Experience Officer – Fad or Critical Emerging Role?

The C-suite contains quite a dazzling array of acronyms from CMO (Chief Marketing Officer or Chief Medical Officer) to CTO (Chief Technology Officer or in some cases Chief Talent Officer) to CDO (Chief Design Officer) and CBO (Chief Business Officer). And just when you thought you knew them all, along comes a new C, the CXO, or Chief Patient Experience Officer. The CXO’s Job: Patient Satisfaction A CXO is responsible for bringing executive level focus on the overall patient experience. A positive patient experience depends on many factors in addition to the quality of care provided by the doctors and […]

Luma Health

Healthcare Happenings

3D Printing and the Future of Care

Ever since the world’s first 3D printer was built in 1983 by Chuck Hall, this technology has steadily progressed into one of the biggest game changers in the medical field. In just the year 2014, the 3D-printing industry grew by 35.2%. The impact of this technology will be seen across the medical board, from increased cost efficiency, faster prototyping, and innovative problem solving–all coming together to better patient health outcomes. A More Affordable Treatment Option Produced through a process called additive manufacturing, 3D printing creates a solid object from a multi-layered digital file blueprint. This can be used with material from plastic or metal powders, […]

Aliya Hall

Healthcare Happenings

June 2018 Healthcare Hot Takes: athenahealth for $7 billion–going once, going twice, sold?

Healthcare Hot Takes is Luma Health’s monthly rundown of healthcare innovations happening right now. Check out what the industry is thinking, reading, doing. STORY #1 Athenahealth receives $6.9 billion buyout offer. At the HLTH conference in Las Vegas this past month, the biggest news was that activist investor Elliott Management, led by notable businessman Paul Singer, submitted an unsolicited bid to buy out athenahealth for nearly $7 billion. The all-cash offer of $160 per share came at a 27% premium for the EHR company, which reported “weaker than expected” earnings in Q4 of last year. With this bid, Singer hopes to take athenahealth back into […]

Ramesh Munnangi

Healthcare Happenings

3 Ways Blockchain Could Transform Healthcare

It may be best known as the foundation for the cryptocurrency Bitcoin, but blockchain technology is also causing a buzz for its potential applications in healthcare. How does it apply, anyway? To put it very simply, blockchain technology makes it possible to store and access information in a distributed network, while precisely recording any changes to that information. It also makes it nearly impossible to tamper with the data in the blockchain, or to gain unauthorized access, which is why it works so well for currency. But the financial world isn’t the only industry that can benefit from this technology. In fact, before blockchain […]

Meg Kramer

Healthcare Happenings

The Promise of Artificial Intelligence in Healthcare

Artificial intelligence (AI) technology holds a lot of promise for the healthcare industry. If implemented well, tasks that are tedious, repetitive, or prone to human error could be automated, freeing human workers to set aside the paperwork and focus on caring for patients. Not everyone expects AI to bring about a techno-utopia, though. For example, in January 2018 the online learning platform MindEdge surveyed 1,000 managers about the use of robotics and artificial intelligence in their industries. For healthcare in particular, they found that artificial intelligence has 21 percent of employees worried about their long-term job security. Healthcare Workers and Artificial Intelligence In any industry, […]

Meg Kramer

Healthcare Happenings

May 2018 Healthcare Hot Takes: Hello Mega-Mergers, Goodbye Primary Care

Healthcare Hot Takes is Luma Health’s monthly rundown of healthcare innovations happening right now. Check out what the industry is thinking, reading, doing. STORY #1 Mega-mergers are transforming healthcare by forcing primary care out. From 2012 to 2016, office visits to primary care physicians fell by 18 percent. One cause for this: the emergence of retail and health insurance mega mergers. More than ever before, patients are choosing to get basic health care from one of the approximately 12,000 retail clinics and urgent cares throughout the nation. The convenience of being able to get care at a local CVS or Walmart is of […]

Ramesh Munnangi

Healthcare Happenings

Fight Administrative Costs with Smart Technology

Administrative costs are a growing goliath in the American healthcare industry. This year, 30 percent of all healthcare costs will be administrative in nature, from billing to coding, schedule keeping, wrangling with insurance providers, maintaining patient relations, and all the rest of your medical practice’s day-to-day operations. Unsurprisingly, at a cumulative cost of $320 billion dollars per year, America leads all nations in overall admin expenses. What’s worse is that administrative costs have shown little positive effect on the quality of medical care offered. In fact, according to a recent study, there may actually be an inverse relationship between the quality of care […]

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