By Madsen Lake
Andrew Barnett specializes in business mergers & acquisitions and started a consulting firm in Fort Lauderdale. He has successfully worked with different sectors including finance, healthcare, M&A, etc. His professional career started after he graduated from Penn State. He has a far-reaching entrepreneurial background. Andrew worked as a trainer, facilitator, coach, and Web science Fellow with the institute.
Today, he manages Ab mergers & acquisitions in his home town Fort Lauderdale. Recently, the healthcare business has resulted in multiple M&As. The Electronic Health Record or EHR is globally adopted, but connectivity remains poor. The issue is technical but M&A complicate the problem. Healthcare executives need interoperability. You can follow Andrew Barnett on Twitter.
Healthcare Mergers & acquisitions
The reason for the increase in healthcare mergers is because small and mid-sized hospitals find it hard to succeed. Today, the net patient revenue is claimed to be around $4 – $8 billion. If you consider the high-tech involvement for patient management, value-based care method, and deteriorating recompense models has made the healthcare landscape more challenging.
Meaning of interoperability for healthcare organizations M&A
Tech handles healthcare
The healthcare system is at a threat with new entrants. For example, a powerhouse trio including Amazon, Berkshire Hathaway, and JPMorgan upset the industry as they moved to handle the unknown healthcare junction. The only thing known is that they desire to use the organization to offer its workforce healthcare needs.
Currently, its healthcare delivery network depends on 1 to 4 hospitals. The issue will arise when solid companies like Amazon, Berkshire Hathaway, and JPMorgan move. Others will follow which will pressurize the small healthcare facilities and spur more acquisitions.
Health system & technology
Healthcare networks need to consider technology and tech. Wearable technology data, operational efficiencies, precision medicine programs, and cyber security are already crucial and in future will turn extra significant to the clinical assignments and financial tasks of healthcare establishments.
Health system & telehealth
Health systems are trying to engage the citizens through telemedicine. On average the hospitals have 5 telehealth systems. It indicates the efforts are departmental. Healthcare facilities, who have ignored telehealth are trying to understand the patient uptake, clinical influence, and ROI.
Precision medicine program will transform hospitals
Lack of clinical expertise and funds are huge barriers that hold the majority of hospitals from introducing a precision medicine program.
Cybersecurity & Health IT
According to a survey, more than 12% of the hospitals in America don’t have basic security systems like firewalls and spam filters. It is a little disturbing because there have been lots of security breach incidents. Cloud technology use is increasing in the healthcare sector and is projected to increase.
