Mergers, Acquisitions, and AI-based Systems aim to Transform Healthcare IT Solutions

Healthcare information technology (IT) solutions have a potential to improve quality, speed up patient care, and consequently improve patient outcomes. Telehealth became one of the most preferred services during the Covid-19 pandemic and unleashed a huge potential in the healthcare IT sector. The demands of patients changed, visits to clinics reduced significantly, and the trend of remote health monitoring and tracking rose considerably. Telemedicine transformed clinical workflows, made delivery of timely and high-quality care possible, and addressed challenges such as clinician and physician shortages. This led investment firms and big players to invest in telemedicine. Mergers and acquisitions are major strategies adopted by market players. Moreover, artificial intelligence (AI) based solutions have been implemented to improve quality of patient care and offer more work-life balance to physicians and clinicians. The healthcare IT sector will boom with new strategies and solutions in the coming years.

Mergers to form unified platform and expand patient base

The healthcare IT market players have been adopting various strategies to raise their stakes across the globe by offering better services to patients. Merger is one of the major strategies adopted by them. This strategy helps in expanding their expertise through combination of capabilities. Nurx and Thirty Madison announced the merger to enhance the patient base on their platforms by combining the offerings. Both are telehealth platforms and aim to increase number of conditions served on the unified platform. The combination of capabilities would enable them to serve patients at anytime and anywhere.

A single and unified platform will be developed to serve existing 750,000 patients along with joining new patients. The platform aims to improve health outcomes of existing patients and avail new patients through offering of treatments for conditions ranging from chronic diseases to contraception. Telehealth has become an integral part of the healthcare systems across the world and technology-enabled care will enable companies to meet the demands of patients.   

Acquisition to fulfill requirements of the healthcare sector

Along with mergers, acquisition is another strategy adopted by market players to offer cost-effective and efficiency care to patients. Patient Square Capital, one of the leading healthcare investment firms, acquired SOC Telemed. Healthcare technology can expand accessibility to effective care and meaningful investments are required to realize the vision of optimal outcomes. This acquisition is aimed at meeting the surge in need of patients, hospital partners, and physicians with the help of advanced technologies. Moreover, SOC Telemed will be taken private in the healthcare IT sector following the completion of the acquisition.

AI scheduling solutions

AI technology has become a boon for the healthcare IT sector in more than one way. New AI scheduling solution found to be effective in lowering down burnout of physicians and enhancing engagement with patients. The Anesthesiology Department at the Ochsner Health in New Orleans installed its new AI scheduling system. This system increased the average engagement score from 3.3 to 4.2 out of five in six months. This scheduling also enabled anesthesiologists to take one or two mornings and few afternoons off every month. This scheduling increased patient care outcomes and helped anesthesiologists in gaining work-life balance. Such solutions will be implemented by more healthcare facilities in the coming years.

Reference:

https://www.healthcareitnews.com/news/nurx-and-thirty-madison-merging-create-virtual-specialty-care-platform

https://www.healthcareitnews.com/news/patient-square-capital-acquire-soc-telemed

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