Top Buzz - Week Of March 13

Navigate through the noise of healthcare news

As a healthcare executive in this ever-changing industry, staying updated on the latest news and trends is essential for continued success. Below is the top news of the week. 

For the week of March 13th, 2023 - U.S. senators are introducing harsh consequences for delays in implementing V.A. Oracle Cerner systems. Google's artificial intelligence (A.I.) tool has achieved 'expert' status in medical predictions, PointCareClick buys Patient Pattern (value-based care EHR and integrated care management platform), and Silicon Valley Bank news. 

In a Senate Veterans Affairs Committee hearing on Wednesday, senators said V.A. officials had informed them a day earlier that problems with the electronic health record system – developed by Oracle Cerner had contributed to six incidents of "catastrophic harm," four of which resulted in the death of a veteran.

As senators expressed their deep dissatisfaction with the Oracle Cerner system, they threatened to take decisive action. The $10 billion computer system project was supposed to improve access and delivery time for veteran care, but instead created additional burdens and even resulted in the death of four veterans. With such a high cost of implementing the system, it is no surprise that senators are looking for answers and are adamant about punishing failures. All eyes are on Oracle Cerner and whether or not they can handle the consequences of this failure, as well as deliver a much-needed improved healthcare system for our nation's veterans.

Google's Medical AI Tool Performs at 'Expert' Level. Google on Tuesday announced new health initiatives and partnerships at its annual event called "The Check Up."

Google's Med-PaLM is showing great promise, recently achieving an expert-level score on their medical language model. This impressive medical A.I. tool was unveiled late last year and provided high-quality responses to medical questions. The new A.I. tool is being used to develop features for search, tools for building health apps, and AI-assisted ultrasounds, cancer treatment, and tuberculosis screenings. In addition to Med-PaLM's development, the Google Health team also shared updates about various initiatives from its annual event, "The Check Up." The healthcare industry is cementing its partnership with the tech giant as A.I. becomes increasingly important in providing quality healthcare treatments for patients.

PointClickCare Advances the Transition Toward Value-Based Care with Acquisition of Patient Pattern.

PointClickCare Technologies' acquisition of Patient Pattern is a significant move toward value-based care that has gathered steam over the past few years. This transition is an essential step for healthcare providers across the globe as they become more responsible for taking on more significant risks for patient outcomes. By combining PointClickCare and Patient Pattern, both organizations are pushing forward their shared vision of providing sophisticated solutions for better care and improved patient outcomes. Overall, this consolidation of resources should empower healthcare teams with the tools they need to operate effectively while also driving value-based improvements in healthcare at large.

Silicon Valley Bank's venture debt. Tim Mayopoulos, the new CEO of Silicon Valley Bank, advocated on Tuesday that its leading venture capital clients shift their deposits to the newly built bridge entity.

Silicon Valley Bank's venture debt has been vital for many healthcare companies since 2021 to obtain over $40 million in venture capital. Now that the bank's collapse amid the FDIC takeover has reverberated through global markets, their newly appointed CEO, Tim Mayopoulos, is advocating clients shift their deposits to the bridge entity he will be controlling: Silicon Valley Bridge Bank N.A.

That's it for the week.