SigmaWay Blog

Wearable technology is the latest trend in healthcare industry. This technology helps doctors, by assisting them in the operating room and providing real time access to electronic health records. By collecting information through this technology, healthcare providers now have more complete and essential real-time data to treat patients. David Peterson - CMO Emdeon Inc., believes that the adoption of wearable healthcare-related devices could indeed be a significant step in patient engagement and improving population health. Not only doctors, now patients can also monitor their own health continuously. Read more about this technology at: http://www.huffingtonpost.com/vala-afshar/wearable-technology-the-c_b_5263547.html

The universal healthcare system should be divided into private and public spheres according to the commission of audit. The audit suggested a complete reform in health system in order to be sustainable. As per the report, more deregulated and competitive markets with appropriate safeguards have the greatest potential to improve the sector's competitiveness and productivity. In the current community rating system, risks are shared and therefore insurers can't charge a sick person higher premium than a healthy person. They also recommended that high income group should take out private health insurance. For more details please visit the following link: http://www.afr.com/p/national/end_universal_healthcare_audit_says_zrc6GH6VmXQx2YBwlB7gSJ

The goal of Accountable Care Act is to lower costs and improve outcomes through the creation of Medicare Accountable Care Organization but deep fragmentation in the health system is preventing to reach these goals. To know about this research, please follow this link: http://www.californiahealthline.org/articles/2014/4/23/study-fragmented-health-care-system-could-hamper-medicare-acos

A recent study suggests that more than two-third of US population is being served by the ACOs. According to Department of Health and Human Services' the latest approval of ACOs in January brings the total number of Medicare ACOs to 368, up from 259 last year. Currently there are total 522 ACOs serving both Medicare and non-Medicare patients. According to CMS, 10% of Medicare beneficiaries will receive their healthcare from ACOs. The research also found that Medicare ACOs are serving near about 33 million non-Medicare patients. Though there is a significant growth in ACO participation, Mr. Niyum Gandhi, a partner in Oliver Wyman's Health & Life Sciences practice and one of the firm's experts on ACOs, criticized the fact by saying "The process of shifting American healthcare to a new, sustainable model is nowhere near the finish line. On the other hand, these numbers mean we have a critical mass lined up at the starting gate." To know more, follow the article written by Oliver Wyman (leader in management consulting) at: http://www.marketwatch.com/story/accountable-care-organizations-now-serve-up-to-17-of-americans-2014-04-23?reflink=MW_news_stmp

CMS has announced that surveyors will scrutinize dementia care and Minimum Data Set coding in an upcoming pilot program. The programs are expected to start from mid 2014. The survey will be concentrated on the processes of antipsychotic prescribing. The special Minimum Data Set surveys will evaluate coding practices and examine how well facilities link care plans to MDS assessments. For more details please visit:http://www.mcknights.com/special-surveys-on-dementia-care-minimum-data-set-coding-will-launch-by-mid-year-cms-announces/article/343573/

US Community hospitals are facing issues like declining volume, shrinking patient care and other financial problems. In this situation most of the community hospitals are merging with large entities to survive. In Virginia, Community Memorial Healthcare of Virginia will join Virginia Commonwealth University Health System, the biggest health safety-net provider in the state, to help improve its bottom line and maintain quality care access throughout the region. Community Memorial expects $2.7 million in Medicare cuts next year and $2.9 million in 2016. For more details please visit Katie Sullivan's article link: http://www.fiercehealthfinance.com/story/mergers-key-community-hospital-survival/2014-04-22

Orange health solutions had acquired MZI healthcare. Great point partners, a private equity firm based in Greenwich, has helped in this merger. Orange health mainly serves hospitals and healthcare organizations to establish ACOs and value based care models, whereas MZI supports the healthcare providers with data analytics, predictive modelling, medical care management and health benefit management technologies. This merger will provide an integrated, one-stop solution that allows providers to solve their technology and service needs. For more please visit: http://www.beckershospitalreview.com/accountable-care-organizations/private-equity-firm-invests-in-aco-company-s-data-analytics-merger.html

The health care industry in India is growing at 1.5 times the GDP growth rate, but still use of information technology in healthcare is insufficient. Currently, Government of India is encouraging private participation due to constraint in public funding capability. Government has launched Health Management Information System (HMIS) in order to take better decision on public health delivery. HMIS portal will convert local health data into real time information, management indicators and trends. A research suggests that the growth rate of India’s health care market is 25%. Also the research suggests that India has the fastest growing healthcare IT market in Asia. Currently seeing the growth rate, many multinational companies are entering in to India’s healthcare industry with innovative and customized products. For more details please visit: http://www.marketingprofs.com/chirp/2014/24904/intelligence-by-variety-where-to-find-and-access-big-data-infographic

The American Hospital Association (AHA) is lobbying CMS to modify the shared savings rule. According to AHA, the current rules are bringing too much financial risk to the providers without offering them enough financial rewards. A recent report suggests that out of 114 providers in Medicare Shared Savings Program, only 29 were able to realize the savings. AHA has recommended that CMS should extend ACO engagement period from 3 year to 6 year. As per Linda E. Fishman, an AHA senior vice president of public policy analysis and development, the only way CMS can encourage ACO participation is by modifying shared savings program. For more details please visit Ron Shinkman's article link: http://www.fiercehealthfinance.com/story/hospitals-want-cms-ease-aco-rules/2014-04-21

As healthcare industry changed dramatically and became more consumer driven- prevention, personalization, prediction, pre-emption and personal responsibility have become important. Telecommunication companies are coming with advanced and customized products to meet unique requirements of the healthcare industry. Products range from providing connectivity for enterprise mobility, asset management and exchange of health data in various formats, platforms for healthcare IT tools; mobile apps for physicians and healthcare professionals to patient engagement solutions. As healthcare moves toward "On-demand, anytime, anywhere" concept, sensor technology will revolutionize the healthcare industry. For more details please visit: http://www.forbes.com/sites/reenitadas/2014/05/19/healthcare-beware-new-intruders-are-coming-introducing-the-new-gold-rush/

Healthcare policymakers recommended that a politically independent working group or health commission is needed to drive significant changes in the industry. The reason behind establishing health commission is to avoid healthcare funding crisis. A research group in New Zealand predicted that the country has only around eight years to make changes in spending patterns of the industry before health costs start to impact the Government's ability to keep the country within budget. For more details please visit: http://www.scoop.co.nz/stories/GE1405/S00065/independent-role-recommended-to-drive-healthcare-change.htm

Patients want digitalized version in healthcare industry similar to amazon.com where they will get all information about insurance, prices, and availability. New entrants -- ranging from entrepreneurial start-ups to telecommunications companies, retailers, athletics firms, consumer products businesses, and more -- have entered the fray, with more expected to target this $2.8 trillion opportunity.  For more please visit the link: http://www.informationweek.com/healthcare/patient-tools/healthcares-next-phase-think-amazon/d/d-id/1251010

This article is released by Southampton ACO. It tells us in details about the benefits of joining an ACO. For more details please visit: http://www.prweb.com/releases/2014/05/prweb11811576.htm  

A recent study, conducted across the major cities in India suggested that doctors have been facing problem to deal with patients who use internet to find the cause of a particular disease. Internet in general and medical websites is becoming doctors' worst nightmare. We cannot deny internet's potential in providing healthcare information. But debate is, whether too much information is dangerous or not. In this scenario different doctors are providing different opinion about the use of internet. Some of them find that internet is useful, and they also feel quite comfortable while discussing the diseases with well-informed patient. An analysis on a health information site suggests that only 10% of the searches land up on reading articles about symptoms of diseases. In fact, health websites play a far more diverse role than doubling up as an online doctor or symptom checker. Doctors are also afraid of wrong information which is available in net. For more details please visit Nirmalya Dutta's article link: http://health.india.com/healthcare/online-medical-information-bane-or-boon-for-the-healthcare-system/

One of the major areas in healthcare industry which needs reform is information exchange between physicians and home health agencies. Most of the Medicare claim is denied due to missing signatures, insufficient documentation, and inaccurate descriptions. To overcome this difficulty, an organization, H2S (founded in 2013), came up with a new solution. The software automates the patient order management process in order to save time spent by physicians in documentation and decrease accounts receivables for health agencies. This helped health agencies and their referring physicians to send, receive and track patient documents so that providers can be reimbursed for services on time. For more details about the please visit Sramana Mitra's article link: http://smallbiztrends.com/2014/04/information-exchange-problem-in-healthcare.html

Till date ACO model has produced mixed results. Players in this industry are currently investing heavily in technologies that analyze, save and streamline to help generate the model's promised benefits. According to Laura Beerman (healthcare network manager at Decision Resources Group), it is important to use technology wisely. After the release of first year result of Pioneer ACOs, industry expert scrutinized the result and found that use of technology can lead to success of ACO model. For more details please visit: http://www.informationweek.com/healthcare/analytics/accountable-care-success-requires-strong-health-it/d/d-id/1204454

In an article by Michelle Andrews (journalist of Kaiser Health News), we get to know that employers may start paying employees to buy health insurance. This decision will help employers to control their expenses. On the other hand, employees get what they want- predictable health care costs.

To read more, visit the following link: http://www.npr.org/blogs/health/2014/05/13/312142207/employers-may-start-paying-you-to-buy-health-insurance

 In an article by journalist Carla K Johnson, we get some insights about how difficult it is for consumers to determine what drugs were included in their health plans. 

To read more, visit the following link: http://bigstory.ap.org/article/report-health-exchanges-drug-coverage-confusing

According to an analysis, healthcare price transparency initiatives can reduce U.S healthcare expenditure by $100 billion over next decade. The analysis of the study on healthcare price transparency quantifies the potential $100B in savings from three policy initiatives:  Use state all-payer health claims databases (APCDs) to report hospital prices, require electronic health record systems to provide prices to physicians when ordering diagnostic tests, require all private health plans to provide personalized out-of-pocket expense information to enrollees. For more details please visit: http://hitconsultant.net/2014/05/16/3-ways-healthcare-price-transparency-could-save-10b-over-10-years/

The successes of big data analytics in other markets have influenced the healthcare industry. Healthcare providers are on the verge of implementing big data analytics to reduce the cost and improve the care. Hosted analytics, partnerships and collaborations, and lower-cost internal applications have opened the door for smaller organizations to use big data. As most of the providers adopted EHER, many healthcare professionals got centralized access to patient records and to manage risk, providers needed accurate data from a range of sources; hence cloud has become very significant. To know more about this topic, please visit: http://www.informationweek.com/healthcare/analytics/healthcare-dives-into-big-data/d/d-id/1251138