What’s the Best Post-COVID-19 Anesthesia Business Model -Hospital-Based or ASCs?

Gary Keeling | February 19, 2022 | 88 views | Read Time : 03:00 min

Anesthesia Business Model

Anesthesia groups face major challenges in the aftermath of the pandemic: Financially strapped hospitals are increasingly unwilling or unable to pay anesthesia subsidies, and a shortage of qualified anesthesiologists and CRNAs is making recruitment extraordinarily competitive.

The good news is that anesthesia opportunities are plentiful in the ambulatory surgery center (ASC) market. As more inpatient procedures migrate to ASCs, anesthesia practices can help meet demand by working with hospitals and ASCs. A dual-contracting approach can help increase revenue, reduce operational risk, enhance recruiting leverage, and present opportunities for equity investments in ASC ventures. 

Expanding ASC Case Mix

Multiple factors are driving increased ASC volume. Consumers have long been attracted to the convenience and fast turnaround times ASCs offer, and as the pandemic began to take hold and patients worried about becoming infected in hospitals, their popularity increased. 

But even before the pandemic hit, the use of ASCs was growing, with the number of centers increasing 7.1% annually since 2016.1 No doubt this was in part driven by Medicare restricting fewer surgeries to the inpatient only (IPO) setting. This year alone, Medicare is adding 11 orthopedic procedures to the ASC-approved list, including total knee arthroscopy (TKA) and total hip arthroscopy (THA).2 Commercial payers are also fueling ASC volume by promoting this venue as a lower-cost option to members. Lastly, with more than 90% of ASCs at least partially owned by physicians, providers themselves are driving more procedures to this setting.

Hospitals Become ASC Buyers 

For years, hospitals viewed ASCs as direct competition and discouraged or even prohibited inpatient anesthesia practices from contracting with them. But that dynamic is changing as more hospitals become buyers or majority investors.

According to a recent survey, the percentage of hospitals and health systems planning to increase their investments in ASCs rose from 44% in 2019 to 67% in 2020, with 75% of 200-plus-bed hospitals already owning more than one ASC.3 Hospitals view these investments as a way to enhance physician relationships and increase surgical capacity.

The Benefits of Practice Diversification 

For anesthesia practices that elect to contract with both hospitals and ASCs, a key benefit is improved profitability, since average ASC case reimbursements are higher than average hospital cases due to better payer mix and more efficient room turnover. Groups that work with multiple organizations also reduce their institutional or operational risk by limiting their exposure to potential financial problems associated with a single contracted entity.

Practices likewise gain an edge when it comes to recruiting in today’s highly competitive anesthesiologist and CRNA market. One of the chief benefits of ASC involvement is being in a position to offer a better work-life balance by spreading call responsibilities across a larger physician call pool. The math is simple: If a hospital group has seven physicians, each must provide call coverage once a week. But if the group also contracts with five ASCs and brings on five additional doctors to staff the facilities, individual call responsibilities are reduced to once every 12 days.

The importance of mitigating call duties to improve the work-life balance for both experienced clinicians and new hires can’t be overstated, particularly as hospitals work to streamline OR throughput by increasing the number of surgical procedures. Groups can also explore a range of creative compensation approaches, including essentially selling call opportunities to newly hired or recent graduate anesthesiologists as additional avenues to attract qualified clinicians while easing the burden on senior anesthesiologists.

Equity Opportunities 

Among the most intriguing aspects of ASC involvement is the potential for becoming an equity stakeholder in the business. Surgeons traditionally have been the primary drivers in creating ASCs, but new opportunities exist for anesthesiology groups, particularly if their hospital is buying an existing ASC or developing a new ASC venture and looking to diversify the ownership group.

The idea of anesthesia ownership isn’t as crazy as it might sound. Like surgeons, anesthesiologists are integral to the success of an ASC, and like surgeons, they get there early and stay late. It’s no secret that joint ownership can greatly improve relations between the practice and the hospital, since both are now working toward the same objectives.

Groups can also make more money. I met with a surgical group not long ago with a 49% ownership stake in a hospital. That equity generated an additional $80,000 per year for each physician partner. How much you can make, of course, depends on your specialty, your level of ownership, and the volume of business. But you’ll never know until you try. 

Outside Expertise

The pandemic has unleashed numerous changes throughout healthcare, and where the dust will eventually settle isn’t entirely clear. But what is certain is that for organizations to remain viable, they’ll need to be flexible and look hard at nontraditional business opportunities. Contracting with both hospitals and ASCs represents one such approach for anesthesia groups.

If you’re interested in exploring this and other business possibilities but don’t know where to start, Change Healthcare can help. Our team of expert anesthesia practice-management consultants have an average of 18 years’ experience in the specialty. We can be engaged on a per-project basis or we can provide our consultant services as part of our turnkey anesthesia-billing solution.

Our anesthesia revenue cycle management services can be deployed either on our own proprietary anesthesia-billing platform or on your hospital billing system. Either way, we’ll provide seamless, end-to-end service. 

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What are the Key Types of Healthcare Supply Chain Management Solutions?

Article | December 8, 2020

Introduction Within the last two years, the healthcare industry saw an influx in patient care as COVID-19 swept through communities across the globe. The widespread shortage of patient care tools, personal protective equipment (PPE), and medical technology amid the pandemic led to an exponential rise in health expenditures and demand for essential supplies. In response to the medical demand-supply imbalance, the governments of numerous countries increased their medical care expenditures to counter the challenges of patient care equipment shortages. For instance, according to the National Healthcare Expenditure Data, federal government spending on healthcare and medical care grew by 36% in 2020 and is estimated to reach US$ 6.2 trillion by 2028 in the U.S. Despite the rise in medical budget allocations, medical facilities are still facing difficulties obtaining enough supplies with the growing prevalence of numerous chronic, infectious, and hereditary diseases. As a result, organizations are focusing on deploying innovative solutions, such as healthcare supply chain management software, to keep track of inventory, procurement, logistics, and others and strengthen their supply chain. Healthcare Supply Chain Management Solutions: Key Types Healthcare systems, hospitals, and other patient care sites require a broad array of supplies to perform diagnosis and treatment, from masks and gloves to catheters and implants. Inadequate supplies coupled with inflation is making supply chain management a crucial but complex component in providing optimal patient care across the healthcare industry. This has shed more light on the role of supply chain management in saving lives. Effective supply chains help various regulatory agencies, including medical goods manufacturers and insurance companies, deliver essential supplies, resources, technologies, and other patient care goods to healthcare establishments. Supply chain management solutions are thus garnering massive traction among healthcare organizations for simplifying and automating manual supply chain and logistics operations. Let’s have a look at the types of supply chain management software that assist healthcare organizations to optimize their supply chain processes: Inventory Management Software Efficient medical inventory management is critical for the running of healthcare organizations. The software provides real-time inventory tracking, assisting organizations in closely monitoring inventory changes, avoiding shortages of both low-value and high-use patient care items, decreasing the wait time for access to medical supplies, and reducing the chances of late delivery. Order Management Software It is crucial for healthcare establishments to have an estimate of the demand and supply of goods to prevent shortages. Order management software enables these organizations to coordinate supply chain demand planning and forecasting. It also assists in streamlining warehouse operations, resulting in faster and more accurate order placement. Sourcing and Procurement Software By tapping into the power of sourcing and procurement solutions, healthcare organizations can develop robust sourcing processes and automate, streamline, and optimize their entire procurement processes. The software also assists establishments in improving their supply inventory levels, identifying the best supplier, and reducing their overall purchasing cost. Shipping and Tracking Software Shipping and tracking software assist in the planning and execution of the physical movement of goods. These solutions are primarily used by medical equipment manufacturers and suppliers during the delivery or relocation of patient care goods. The integration of these solutions enables organizations to track and manage numerous batches of goods in transit. The Bottom Line Growing competition, healthcare regulations, shipping costs, and increased logistics requirements from medical institutions have complicated the supply chain management processes. As a result, life-science companies are investing in cutting-edge supply chain management solutions to reduce numerous errors, improve logistics, and eliminate unnecessary costs spent to fix them. Thus, several companies are now emphasizing the incorporation of cutting-edge technologies, including artificial intelligence and data analytics, into healthcare supply chain management software to reap benefits such as process automation, streamlined inventory, reduced waste, improved decision-making, and lower labor, supply, and operational costs.

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FUTURE OF HEALTHCARE

Can Medical Providers Recommend E-cigarettes for Smoking Cessation?

Article | December 27, 2021

Smoking has a lot of consequences to one’s health. It can lead to cancer, heart disease, and chronic obstructive pulmonary disease—all of which are chronic diseases. This is part of the reason why the Health and Human Services agency reports that 70% of adult smokers want to quit. As a medical provider, adults looking to stop smoking will come to you for advice and treatment. One alternative smoking product you might want to recommend is an e-cigarette, given their prevalence in recent years. In this article, let’s take a deeper look at whether e-cigarettes’ should be recommended for smoking cessation and what other treatment options to endorse to patients. Are e-cigarettes approved for smoking cessation? Electronic cigarettes, more commonly known as e-cigarettes, are devices that vaporize nicotine-based liquid to be inhaled by its user. It almost replicates the experience of smoking a cigarette due to the device’s shape and the vapor it produces. However, the FDA has yet to approve e-cigarettes for smoking cessation because there is currently limited research on their effectiveness, benefits, and risks for the human body. Additionally, scientists at the University of California found harmful metals in the vapor from tank-style e-cigarettes. These e-cigarettes are equipped with high-power batteries and atomizers to store more liquid. These result in high concentrations of metals like iron, lead, and nickel in the vapor. Exposure to and inhaling metallic particles may impair lung function and cause chronic respiratory diseases. As such, medical providers should not recommend e-cigarettes for smoking cessation. What can medical providers recommend for smoking cessation? Smoking cessation medication Presently, two FDA-approved prescription medicines for smoking cessation are Bupropion and Varenicline. Bupropion is an antidepressant that decreases tobacco cravings and withdrawal symptoms. It does this by increasing the brain chemicals dopamine and noradrenaline. This comes in a pill and can be used alongside other smoking cessation aids. Varenicline also reduces cravings and nicotine withdrawal symptoms. It blocks nicotine receptors in the brain, decreasing the amount of enjoyment one gets from smoking. One thing to note about this is that it will take several days for Varenicline's effects to take place. Therefore, it's best to prescribe these pills 1-2 weeks before the patient quits smoking. Like Bupropion, Varenicline may be used simultaneously with other quit-smoking products. Nicotine Replacement Therapy Nicotine replacement therapy (NRT) is a treatment involving nicotine consumption at gradually decreasing levels. This reduces the patient’s desire to smoke without them having to quit cold turkey. NRT involves using nicotine alternatives that don’t produce smoke, such as nicotine pouches and nicotine gum. Nicotine pouches are oral products containing ingredients like nicotine, flavoring, and plant-based fibers. These are placed between the lip and gum, where nicotine is absorbed into the bloodstream. Different variations have different strengths. On! pouches come in different strengths: 2mg, 4mg, and 8mg. Patients may start from 8mg variants and gradually decrease this dosage as their NRT progresses. Pouches also come in a wide range of flavors—including citrus, mint, and berry—to entice users. Meanwhile, nicotine gum is chewing gum that contains nicotine. It is chewed a few times before being parked between the gums and cheek for nicotine absorption. The nicotine gums by Lucy are a significantly better alternative for tobacco users. Like pouches, this gum comes in several flavors, such as cinnamon, mango, and wintergreen, and different strengths ranging from 2mg to 6mg. Counseling The recommendations mentioned above—medication and NRT—are more effective when coupled with counseling. A Primary Care Respiratory Medicine study revealed that successful smoking cessation is best attained through pharmacological treatment and counseling. Sessions typically involve a patient meeting with a counselor and they discuss their smoking habits, possible causes, and how to mitigate them. Medical providers should include counseling in addition to medication and NRT. E-cigarettes have yet to be approved by the FDA as smoking cessation aids. For now, medical providers should provide medication, NRT, and counseling to patients who want to quit smoking.

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FUTURE OF HEALTHCARE

Top 5 Ways for Strengthening Healthcare Supply Chain

Article | January 10, 2022

Introduction Healthcare supply chains are highly regulated, high-margin domains with stringent quality criteria, such as the demand for cold-chain storage and shipping. In addition, due to a lack of adequate understanding of the complicated rules governing healthcare products and services, medical aid providers are encountering inefficiencies while outsourcing capabilities to logistics service providers (LSPs). In today's value-based care paradigm, healthcare leaders are tasked with improving patient outcomes while decreasing costs. With surging globalization, the growing cross-border nature of several medical products, and rising complexities in healthcare logistics, the need for building a robust supply chain is rapidly increasing across the healthcare industry. Key Ways to Enhance Healthcare Supply Chain A resilient supply chain plays a vital role in managing supplies, procuring resources, and shipping medical goods, among others, which assists in improving patient outcomes, enhancing service efficiency, and declining costs. Healthcare organizations are aiming to strengthen their supply chain to enjoy these benefits such as increased reimbursement, improved quality control, reduced inventory and overhead costs, and better collaboration with suppliers. Here are some of the key ways to assist medical aid providers in building a strong healthcare supply chain Develop effective inventory management Manufacturers frequently encounter difficulties with timely inventory movement through their supply chains. Revenue is lost, and profit margins are harmed when products expire because they are not used adequately. This is why it is crucial to effectively manage the inventory process. Hence, healthcare executives should deploy a high-quality equipment management system and increase collaboration between organizations, suppliers, and manufacturers to assist them in controlling inventory levels and effective inventory management. Use technology and analytics to make operations run smoother When it comes to supply chain management automation, the healthcare sector continues to lag behind other sectors. This is true for both the enterprise resource planning (ERP) functions and data analytics use for making decisions about forecasting and product choice. Healthcare executives should make use of efficient technologies, such as solid analytics, in order to successfully improve a supply chain. Implementing data analytics and automation tools can assist in making healthcare supply chain management more efficient and effortless. Widen and strengthen the supplier base One of the most effective ways to build a robust healthcare supply chain is by increasing the number of suppliers and enhancing supplier base management. Manufacturers and purchasers should abandon using single-or limited-source supply chains for raw materials and finished goods. This will assist healthcare companies in expanding their network of raw material suppliers and helps in careful consideration of which suppliers to use for procuring which resources. Improve order accuracy and order cycle times to lower costs Healthcare providers sometimes encounter a large number of errors during the ordering process. When incorrect products are ordered, the facilities face losses in revenue and are sometimes unable to deliver specific services due to the unavailability of products they need. Errors in placing orders can also result in medication errors. This can lead to a decrease in patient outcomes and negatively impact the company’s revenue growth. To reduce the frequency of errors, these providers should deploy a computerized provider entry system. This will help improve order accuracy, increase supply chain efficiencies, and shorten turnaround times in healthcare ordering processes. Consistently track and calibrate performance Regardless of the size of the healthcare facility, it is of great importance for medical aid providers to carefully track and calibrate their performance frequently or on a specified timeline. This enables clinically integrated supply chains in healthcare to use key performance indicators (KPIs) to compare outcomes in terms of cost and quality and make decisions about products. What’s Next? The rising integration of novel disruptive technologies such as data analytics, the internet of things, artificial intelligence, and blockchain into healthcare supply chain management software is facilitating smooth operations, transparency, growth, and security across the life-science industry. With a growing need for enhancing supply chains, healthcare providers are focusing on deploying advanced supply chain management solutions, such as healthcare logistics software, to strengthen their supply chains. As the trend continues to grow, the sales of healthcare supply chain management software and services are anticipated to rise from the US$2.2 billion registered in 2020 to US$3.3 billion by 2025.

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HEALTH TECHNOLOGY

Most Popular Healthcare Supply Chain Trends for Next 05 Years

Article | August 29, 2022

Introduction With the ever-evolving and changing nature of the healthcare industry, organizations are discovering new methods to eliminate waste, reduce costs, and prioritize patient concerns. Despite the fact that the COVID-19 pandemic has shown the vulnerabilities of healthcare supply chains and caused shortages of personal protective equipment (PPE) and other essential medical supplies, it has served as a catalyst for innovation and digital transformation in healthcare supply chain management solutions. Healthcare and medical organizations have learned the hard way to let go of the traditional ways of thinking, such as a mindset that prioritizes just-in-time supply chains and logistics optimization over everything else. Tight, fragile supply networks and lousy inventory management have caused severe shortages of pharmaceutical and medical supplies in the past. However, with the emergence of innovative technologies and trends, now is the time to adopt a new mindset that emphasizes supply chain resilience, flexibility, and agility, making supply chains stronger and adaptable. This will enable healthcare spaces to handle unexpected spikes in demand and survive unpredictable disruptions brought on by pandemics, natural disasters, or cyberattacks in the future. Top Upcoming Healthcare Supply Chain Trends to Know About in 2022 In recent years, healthcare providers have been concentrating on supply chain management solutions not only to increase the effectiveness of supply chain networks but also to gain more visibility into the entire supply chain. With the goal of streamlining the ordering process, enhancing demand planning & inventory management, and informing purchasing contract decisions, healthcare providers have started to understand the potential of advanced healthcare supply chain solutions. Since then, these organizations have recognized the value of an efficient and dependable supply chain as a critical competitive differentiator. A substantial rise in medical and healthcare spending is being witnessed across the globe due to the rapidly increasing number of various diseases and conditions, such as chronic ailments, infectious diseases, and genetic disorders. According to a study, the national health expenditure in the U.S. reached US$ 4.1 trillion in 2020, including the spending of US$ 829 billion on Medicare and US$ 671 billion on medical aid. Hence, healthcare organizations, manufacturers of medical devices, and other entities participating in the medical supply chain are investing in innovative supply chain and logistic solutions to provide optimal and timely treatments to patients. Innovation is not only crucial for lowering operating expenses and simplifying business processes, but it is also necessary for providing superior care to patients and enhancing clinical outcomes. Let's see some of the top healthcare supply chain trends that are revolutionizing the healthcare sector. Immediate Access to Medical Supplies Medical equipment and component shortages are not new challenges for the healthcare industry. Hospitals and other medical establishments have faced continual disruptions in the supply chain over the last decade, starting from personal protective equipment and medical device shortages to improper management of medical inventory. This was especially witnessed in the past two years, during the COVID-19 pandemic. Healthcare producers previously adopted a strategy to either pay higher premiums for medical equipment or stockpile them on their balance sheets. However, the issue with this strategy was that during the acute and unprecedented shortage, fewer devices and parts were left to acquire and keep in inventory, which has compelled hospitals to adopt a more cautious supply chain strategy. Medical establishments need a more diverse pool of suppliers and cannot only rely on just-in-time inventory ordering. Hence, a swift rise in inclination toward adopting sophisticated supply chain solutions is being witnessed across the industry to monitor certain suppliers' run rates. This enables modern healthcare organizations to create more resilient and robust hospital supply chains and provide immediate access to medical inventory. Emphasis on Visibility and Tracking One of the most prevalent healthcare supply chain trends witnessed across the industry is the growing focus on visibility and tracking. Obtaining medical supplies, equipment, drugs and others safely, timely, and accurately from the factory floor to patients is the responsibility of the healthcare supply chain. As the industry shifts to value-based care models, the healthcare supply chain is experiencing enormous pressure to increase visibility, decline costs, and improve outcomes. With the advent of online shopping and the introduction of novel medical e-commerce platforms, manufacturers and suppliers of healthcare products are focusing on real-time tracking during transit and logistics operations. As a result, they are increasingly adopting advanced healthcare supply chain management software to enhance visibility, stream operations, and decrease delivery time. Investment in Technologies The efficient management of the healthcare supply chain is paramount for proper patient care and inventory control. The implementation of digital healthcare technology is an essential step toward the achievement of a higher level of efficiency in supply chain management. Digital healthcare logistics and supply chain solutions have the potential to generate long-term value for healthcare providers, which is one of the main aspects driving the transformation away from the conventional healthcare supply chain. It is improving patients' access to care while making it more efficient, cost-effective, and secure. In addition to this, the integration of advanced technologies is assisting hospitals and healthcare providers in reducing operational costs and identifying appropriate growth opportunities. The following are the technologies healthcare organizations are investing in to strengthen their supply chain management Artificial Intelligence The healthcare supply chain trend that is paving the way in the industry is artificial intelligence (AI). It is the future of the healthcare supply chain. The integration of the technology assists in improving logistics efficiencies via quicker data processing, continuous process improvement, and accurate demand-supply forecasting. By connecting historical data with external patterns that affect production, AI presents a chance to greatly increase the speed and precision of healthcare logistics and supply chain activities. In addition, it enables medical equipment manufacturers and suppliers to constantly record crucial operational data and preserve institutional expertise for future use. Cloud Computing Cloud computing technologies have played a significant role in transforming the healthcare supply chain management that is used today. It reduces expenses, shortens logistics operations, and increases data security by centralizing data and providing access to that data to numerous associated entities. With technological advancements, cloud computing is anticipated to gain huge popularity in creating a resilient supply chain with a well-knitted network of healthcare providers, manufacturers, and suppliers. And also provides next-generation features, such as transport route optimization and automatic inventory management. Data Analytics Data analytics provides a broader range of in-depth information that can be used to make operational processes more effective, inventory management more strategic, and decisions more accurate. It also assists in transforming the healthcare supply chain by providing access to cutting-edge methods like data mining, predictive forecasting, and predictive analytics to foresee future events with precision, assisting healthcare providers in forecasting further demand and supply interruptions. In addition to the increasing need for declining costs and transit time, drug manufacturers and healthcare aid suppliers are investing in advanced data analytics to assist them in visualizing the whole supply chain, including its pain points, inefficiencies, and strengths. Healthcare Supply Chain Management Solutions: Features & Significance The healthcare industry as a whole is thriving, and this growth is reflected in the more sophisticated and digital nature of healthcare supply chain management software. The solution helps medical facilities see the big picture by coordinating and integrating procedures that manage and control the flow of money, data, and items as a product or service, all the way from the point of production to healthcare spaces, allowing for more efficient care. The primary goals of these supply chain solutions, such as healthcare logistics software, are to improve visibility and efficiency throughout the distribution network. In recent years, these goals have expanded to include the strategic objective of improving supply chain agility and resilience— to cope with times of uncertainty, shortages, and volatility in demand and supply conditions. Getting supply chain management right in healthcare means that participating players will be able to effectively identify and resolve bottlenecks, possible interruptions, and other issues that arise anywhere along the end-to-end supply chain. As one of the features, these supply chain solutions have the potential to improve patient care and safety while reducing waste and wasteful expenses. Let's see a few more features of healthcare supply chain management software Procurement Management Logistics Management Inventory Management Order Management Warehouse Management Supplier Relationship Management Why Is Supply Chain Management Software Gaining Prominence in Healthcare? Due to increasing instances of medication and healthcare aid shortages, a strong need for modernizing the healthcare supply chain is being experienced by numerous hospitals, drug manufacturers, and suppliers. In addition, the growing use of medical e-commerce is further increasing the complexities in the inventory and logistics operations, making it difficult for the players mentioned above to provide timely delivery, reduce wastage, and ultimately save patients. To counter these challenges, medical establishments are emphasizing adopting more advanced and resilient supply chain management solutions, which assist them in streamlining and automating routine manual processes such as logistics operations, planning, forecasting, and others. The following are more reasons to encourage healthcare establishments to adopt resilient supply chain management software Logistics and Shipping Optimization Reduce Cost Effects Enhance Quality Control Increase Flexibility Better Collaboration with Suppliers Reduce Inventory and Overhead Costs Increase Output Enhance Transparency Decrease Delivery Time Closing Thoughts In today’s constantly evolving healthcare sector, medication manufacturers and hospitals are looking to adopt innovative solutions, such as healthcare logistics software, to eliminate waste, reduce costs, and improve patient care. The growing integration of AI, predictive analysis, blockchain, and other technologies is playing a major role in modernizing the healthcare supply chain and streamlining operations by automating and improving decision-making abilities. As the healthcare supply chain trends discussed above keep on creating new roads in the industry, supply chain management solutions, such as healthcare logistics software, are anticipated to become a necessity in the future. Thus, ahead-of-the-curve healthcare providers are seizing this instance as an opportunity to invest in cutting-edge technologies and shift towards using digital solutions to make their supply chains more robust and improve the flexibility of their logistics operations. FAQ What is Healthcare Supply Chain Management Software? Ans: A healthcare supply chain management software assists medication manufacturers and hospitals in sourcing, tracking, quality control, and logistics by automating operations, enabling them to manage costs, time, and inventory by planning and forecasting trends. What Are the Types of Supply Chain Management Software Used in Healthcare? Ans: The most common types of supply chain management software used across the healthcare sector are Logistics Sourcing and Procurement Inventory Management Warehouse Order Processing Shipping What Are the Key Performance Indicators of Supply Chain Management Software in the Healthcare Industry? Ans: Key performance indicators of supply chain management software in healthcare are Reduction in Cost Enhancement in Customer Service Time to Customer Forecasting Accuracy Flow of Logistics Process

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DispatchHealth Raises More Than $330 Million to Expand Its Technology-Enabled Ecosystem of High Acuity Care in the Home

DispatchHealth | November 24, 2022

DispatchHealth, the nation's first comprehensive in-home, high acuity medical care provider announced it has raised more than $330 million in combined equity and debt financing. The equity round of $259 million was led by Optum Ventures, with participation from new investors Adams Street Partners, Blue Shield of California, among others, and continued support from existing investors Humana, Echo Health Ventures, Questa Capital and Oak HC/FT. K2 HealthVentures, Silicon Valley Bank and SVB Capital provided debt financing of $75 million, with up to an additional $75 million available for growth initiatives, bringing the total raised to more than $400 million. In the United States, $4 trillion is spent on healthcare annually and it is projected to exceed $6 trillion by 2028. With more than a third of this spend on care delivered in traditional brick-and-mortar facilities, the healthcare industry has reached a watershed moment. DispatchHealth's in-home, high acuity care model aligns health plans, health systems, at-risk provider groups and patients with complex care needs by delivering a value-based alternative to high-cost settings such as the emergency room, hospital ward or skilled nursing facility, reducing medical costs while improving clinical outcomes and patient and provider satisfaction. "For the past seven years, we have been building a comprehensive ecosystem of high acuity care in the home. Our proven approach to delivering healthcare to complex patients in their homes will continue to transform healthcare. This round of funding is a testament to what we and our passionate team members have created at DispatchHealth and the belief our partners have in our leading-edge care model." Dr. Mark Prather, Co-Founder and CEO of DispatchHealth Today, DispatchHealth provides high acuity care to complex patients across 34 states and has developed innovative relationships with health plans, provider groups, health systems, employers, senior living facilities, and home health organizations to deliver a better, more coordinated healthcare experience. DispatchHealth is also one of the largest and most experienced providers of Advanced Care, a hospital alternative, and Extended Care, a skilled nursing facility alternative. To coordinate the complex ecosystem of in-home care, DispatchHealth has created an operating system for high acuity care in the home. The proprietary technology platform uses real-time data insights to manage all aspects of the in-home care experience, including logistics, onboarding, risk stratification, care coordination and analytics that elevate the clinical practice and drive improved outcomes. DispatchHealth will use the financing to Expand its proven in-home high acuity care ecosystem in existing markets and key expansion markets; Accelerate its technology platform development to deliver consistent and scalable patient-centric care; and, Strategically grow its portfolio of in-home system of care and last mile care capabilities. "DispatchHealth is transforming the healthcare industry by improving access to outcomes-driven, high-quality, in-home care and delivering on the enhanced experience patients deserve. Optum Ventures is honored to deepen our relationship with DispatchHealth and its experienced leadership team as they continue to expand their reach of high acuity, in-home care to serve patients with complex care needs across the nation," said Laura Veroneau, Managing Partner at Optum Ventures. "DispatchHealth's comprehensive and unique ecosystem of in-home care is compelling. Adams Street is thrilled to support DispatchHealth as they expand their system of care, particularly their high acuity hospitalization substitution model. We believe DispatchHealth is positioned to catalyze important and necessary advances in the healthcare industry," said Tom Bremner, a Partner at Adams Street Partners. About DispatchHealth  DispatchHealth brings the power of the hospital to the comfort of the home. DispatchHealth is building the leading in-home system of care and offers on-demand acute care and an advanced level of medical care for people of all ages in the comfort of their own homes. DispatchHealth's emergency medicine and internal medicine trained medical teams are equipped with all the tools necessary to treat common to complex injuries and illnesses. DispatchHealth works closely with payers, providers, health systems, EMS, employer groups and others to deliver care in the home to reduce unnecessary emergency room visits, hospital stays and readmissions. Acute Care medical teams are available seven days a week, evenings and holidays and can be requested online or via a quick phone call. DispatchHealth is partnered with most major insurance companies. About Optum Ventures Optum Ventures is the independent venture fund of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to healthcare services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. About Adams Street Partners Adams Street Partners is a global private markets investment manager with investments in more than thirty countries across five continents. The firm is 100% employee-owned and has $50 billion in assets under management. Adams Street strives to generate actionable investment insights across market cycles by drawing on 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.

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Medimap Partners with Winnipeg Regional Health Authority To Improve Emergency Room Wait Times

Medimap | November 25, 2022

Medimap is pleased to announce it has signed a strategic partnership with the Winnipeg Regional Health Authority to improve patient care and reduce emergency room wait times. The new partnership will make use of Medimap's powerful software technology and its partnerships with a large network of medical clinics in the Winnipeg area by directing Manitobans with low acuity needs to local walk-in clinics. This will help improve Manitobans' access to care by diverting patients with low acuity needs to local medical services that have the capacity to see them, thereby reducing wait times at emergency rooms across the city. "Our new partnership with the Winnipeg Regional Health Authority is a win-win for both patients and the overall healthcare system. Not only will our platform help patients with low acuity needs find the care they need, when they need it, it will also reduce wait times at emergency rooms across the city," Medimap CEO Thomas Jankowski. The partnership means the WRHA will be able to show wait time information at walk-in clinics across the Winnipeg area on hospital screens and its website. The information will allow patients to make informed decisions about where they can get timely access to care. Triage staff will also have immediate access to this information, allowing them to redirect low acuity cases to other healthcare resources. "Every month, approximately 40 percent of people who visit a Winnipeg Urgent Care Centre or emergency department could receive the health care they need, often sooner, through a family doctor or walk-in clinic," said Mike Nader, President and CEO of the Winnipeg Regional Health Authority. "By partnering with Medimap, our goal is to help Manitobans get the timely care they need while reducing the burden on our hospital system. Public-private partnerships like this will help to unlock many of the problems present in our healthcare system." Every month over 250,000 Canadians rely on Medimap as their means of finding same-day, non-urgent access to care. Its software gives clinics the ability to communicate changes in operating hours, or when they are at capacity and also provides the ability for patients to join a waitlist or book an appointment. Patients can quickly check the Medimap website before they travel to a clinic, reducing the length of time they have to wait to see a doctor. Patients can also book appointments with allied health professionals such as physiotherapists, chiropractors, optometrists, mental health services and more. About Medimap Medimap's platform is used by a network of more than 4,200 practices, pharmacies, and walk-in clinics across the country and has helped more than 12 million Canadians find the care they need when they need it. Medimap's platform also provides patients the ability to book appointments with allied health professionals such as physiotherapists, chiropractors, optometrists, mental health services, and more. Not only does this help patients receive timely care, it also helps the healthcare system divert people away from emergency rooms to primary care services that are better suited to their needs, including virtual appointments. About Winnipeg Regional Health Authority The WRHA serves residents of the city of Winnipeg, as well as the northern community of Churchill and the rural municipalities of East and West St. Paul, representing a total population of more than 750,000. The WRHA also provides healthcare support and specialty referral services to nearly half a million Manitobans who live beyond these boundaries, as well as residents of northwestern Ontario and Nunavut, who often require the services and expertise available within the WRHA.

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HEALTHTECH SECURITY

HeartCore Signs Fifth Go IPO Agreement with SBC Medical Group

Heartcore Enterprises Inc. | November 24, 2022

HeartCore Enterprises, Inc. a leading software development company, announced that it has signed an agreement with SBC Medical Group, Inc. for its fifth Go IPO consulting service within an eight-month period. As part of the Consulting Agreement, HeartCore will assist SBC Medical in its efforts to go public and list on the Nasdaq Stock Market Through Go IPO, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SBC Medical an aggregate of $900,000 in initial fees. In addition, HeartCore has received a warrant to acquire 2.7% of SBC Medical’s common stock, on a fully diluted basis. “Japanese companies continue to express interest in listing on the U.S. markets, and our team has successfully taken advantage of this wave as we executed our fifth Go IPO win of 2022. Prospective Japanese Go IPO clients have appreciated our expertise in helping private companies kickstart and navigate their capital markets journey with our white glove service and catered consultation, which has resulted in a robust business pipeline for HeartCore.” CEO Sumitaka Yamamoto About HeartCore Enterprises, Inc. Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company offering Software as a Service solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platfor includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. Furthermore, HeartCore offers “Go IPO,” a consulting service where it assists private companies with uplisting onto the Nasdaq Stock Market.

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FUTURE OF HEALTHCARE

DispatchHealth Raises More Than $330 Million to Expand Its Technology-Enabled Ecosystem of High Acuity Care in the Home

DispatchHealth | November 24, 2022

DispatchHealth, the nation's first comprehensive in-home, high acuity medical care provider announced it has raised more than $330 million in combined equity and debt financing. The equity round of $259 million was led by Optum Ventures, with participation from new investors Adams Street Partners, Blue Shield of California, among others, and continued support from existing investors Humana, Echo Health Ventures, Questa Capital and Oak HC/FT. K2 HealthVentures, Silicon Valley Bank and SVB Capital provided debt financing of $75 million, with up to an additional $75 million available for growth initiatives, bringing the total raised to more than $400 million. In the United States, $4 trillion is spent on healthcare annually and it is projected to exceed $6 trillion by 2028. With more than a third of this spend on care delivered in traditional brick-and-mortar facilities, the healthcare industry has reached a watershed moment. DispatchHealth's in-home, high acuity care model aligns health plans, health systems, at-risk provider groups and patients with complex care needs by delivering a value-based alternative to high-cost settings such as the emergency room, hospital ward or skilled nursing facility, reducing medical costs while improving clinical outcomes and patient and provider satisfaction. "For the past seven years, we have been building a comprehensive ecosystem of high acuity care in the home. Our proven approach to delivering healthcare to complex patients in their homes will continue to transform healthcare. This round of funding is a testament to what we and our passionate team members have created at DispatchHealth and the belief our partners have in our leading-edge care model." Dr. Mark Prather, Co-Founder and CEO of DispatchHealth Today, DispatchHealth provides high acuity care to complex patients across 34 states and has developed innovative relationships with health plans, provider groups, health systems, employers, senior living facilities, and home health organizations to deliver a better, more coordinated healthcare experience. DispatchHealth is also one of the largest and most experienced providers of Advanced Care, a hospital alternative, and Extended Care, a skilled nursing facility alternative. To coordinate the complex ecosystem of in-home care, DispatchHealth has created an operating system for high acuity care in the home. The proprietary technology platform uses real-time data insights to manage all aspects of the in-home care experience, including logistics, onboarding, risk stratification, care coordination and analytics that elevate the clinical practice and drive improved outcomes. DispatchHealth will use the financing to Expand its proven in-home high acuity care ecosystem in existing markets and key expansion markets; Accelerate its technology platform development to deliver consistent and scalable patient-centric care; and, Strategically grow its portfolio of in-home system of care and last mile care capabilities. "DispatchHealth is transforming the healthcare industry by improving access to outcomes-driven, high-quality, in-home care and delivering on the enhanced experience patients deserve. Optum Ventures is honored to deepen our relationship with DispatchHealth and its experienced leadership team as they continue to expand their reach of high acuity, in-home care to serve patients with complex care needs across the nation," said Laura Veroneau, Managing Partner at Optum Ventures. "DispatchHealth's comprehensive and unique ecosystem of in-home care is compelling. Adams Street is thrilled to support DispatchHealth as they expand their system of care, particularly their high acuity hospitalization substitution model. We believe DispatchHealth is positioned to catalyze important and necessary advances in the healthcare industry," said Tom Bremner, a Partner at Adams Street Partners. About DispatchHealth  DispatchHealth brings the power of the hospital to the comfort of the home. DispatchHealth is building the leading in-home system of care and offers on-demand acute care and an advanced level of medical care for people of all ages in the comfort of their own homes. DispatchHealth's emergency medicine and internal medicine trained medical teams are equipped with all the tools necessary to treat common to complex injuries and illnesses. DispatchHealth works closely with payers, providers, health systems, EMS, employer groups and others to deliver care in the home to reduce unnecessary emergency room visits, hospital stays and readmissions. Acute Care medical teams are available seven days a week, evenings and holidays and can be requested online or via a quick phone call. DispatchHealth is partnered with most major insurance companies. About Optum Ventures Optum Ventures is the independent venture fund of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to healthcare services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. About Adams Street Partners Adams Street Partners is a global private markets investment manager with investments in more than thirty countries across five continents. The firm is 100% employee-owned and has $50 billion in assets under management. Adams Street strives to generate actionable investment insights across market cycles by drawing on 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.

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FUTURE OF HEALTHCARE

Medimap Partners with Winnipeg Regional Health Authority To Improve Emergency Room Wait Times

Medimap | November 25, 2022

Medimap is pleased to announce it has signed a strategic partnership with the Winnipeg Regional Health Authority to improve patient care and reduce emergency room wait times. The new partnership will make use of Medimap's powerful software technology and its partnerships with a large network of medical clinics in the Winnipeg area by directing Manitobans with low acuity needs to local walk-in clinics. This will help improve Manitobans' access to care by diverting patients with low acuity needs to local medical services that have the capacity to see them, thereby reducing wait times at emergency rooms across the city. "Our new partnership with the Winnipeg Regional Health Authority is a win-win for both patients and the overall healthcare system. Not only will our platform help patients with low acuity needs find the care they need, when they need it, it will also reduce wait times at emergency rooms across the city," Medimap CEO Thomas Jankowski. The partnership means the WRHA will be able to show wait time information at walk-in clinics across the Winnipeg area on hospital screens and its website. The information will allow patients to make informed decisions about where they can get timely access to care. Triage staff will also have immediate access to this information, allowing them to redirect low acuity cases to other healthcare resources. "Every month, approximately 40 percent of people who visit a Winnipeg Urgent Care Centre or emergency department could receive the health care they need, often sooner, through a family doctor or walk-in clinic," said Mike Nader, President and CEO of the Winnipeg Regional Health Authority. "By partnering with Medimap, our goal is to help Manitobans get the timely care they need while reducing the burden on our hospital system. Public-private partnerships like this will help to unlock many of the problems present in our healthcare system." Every month over 250,000 Canadians rely on Medimap as their means of finding same-day, non-urgent access to care. Its software gives clinics the ability to communicate changes in operating hours, or when they are at capacity and also provides the ability for patients to join a waitlist or book an appointment. Patients can quickly check the Medimap website before they travel to a clinic, reducing the length of time they have to wait to see a doctor. Patients can also book appointments with allied health professionals such as physiotherapists, chiropractors, optometrists, mental health services and more. About Medimap Medimap's platform is used by a network of more than 4,200 practices, pharmacies, and walk-in clinics across the country and has helped more than 12 million Canadians find the care they need when they need it. Medimap's platform also provides patients the ability to book appointments with allied health professionals such as physiotherapists, chiropractors, optometrists, mental health services, and more. Not only does this help patients receive timely care, it also helps the healthcare system divert people away from emergency rooms to primary care services that are better suited to their needs, including virtual appointments. About Winnipeg Regional Health Authority The WRHA serves residents of the city of Winnipeg, as well as the northern community of Churchill and the rural municipalities of East and West St. Paul, representing a total population of more than 750,000. The WRHA also provides healthcare support and specialty referral services to nearly half a million Manitobans who live beyond these boundaries, as well as residents of northwestern Ontario and Nunavut, who often require the services and expertise available within the WRHA.

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HEALTHTECH SECURITY

HeartCore Signs Fifth Go IPO Agreement with SBC Medical Group

Heartcore Enterprises Inc. | November 24, 2022

HeartCore Enterprises, Inc. a leading software development company, announced that it has signed an agreement with SBC Medical Group, Inc. for its fifth Go IPO consulting service within an eight-month period. As part of the Consulting Agreement, HeartCore will assist SBC Medical in its efforts to go public and list on the Nasdaq Stock Market Through Go IPO, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SBC Medical an aggregate of $900,000 in initial fees. In addition, HeartCore has received a warrant to acquire 2.7% of SBC Medical’s common stock, on a fully diluted basis. “Japanese companies continue to express interest in listing on the U.S. markets, and our team has successfully taken advantage of this wave as we executed our fifth Go IPO win of 2022. Prospective Japanese Go IPO clients have appreciated our expertise in helping private companies kickstart and navigate their capital markets journey with our white glove service and catered consultation, which has resulted in a robust business pipeline for HeartCore.” CEO Sumitaka Yamamoto About HeartCore Enterprises, Inc. Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company offering Software as a Service solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platfor includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. Furthermore, HeartCore offers “Go IPO,” a consulting service where it assists private companies with uplisting onto the Nasdaq Stock Market.

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