One of my old bosses used to say that, whenever some unpleasant email hit his inbox or a complaint was left in his voice mail. (He also would whistle loudly, high pitch to low pitch, sounding like a bomb flying to the ground, if something especially bad had transpired. I do this now, like when I open my gas bill.)
These days, well, the hits just keep coming. Every day I hope to see some good (miraculous?) news about the economy, about unemployment rates, about start-ups being formed and funded, but it is slow to come. Yesterday (waiting two days for Inauguration fever to pass), the AHA released an announcement dramatically titled “HOSPITALS REPORT ‘CAPITAL CRUNCH’ IS FORCING DELAYS IN FACILITY AND TECHNOLOGICAL UPGRADES THAT WOULD BENEFIT COMMUNITIES’ HEALTH AND WELL-BEING,” along with the (very nicely designed) report. From the press release:
“From cancer centers to expanded emergency departments to electronic health records systems, hospitals are postponing or delaying projects that could greatly benefit health care in communities across the country,” said AHA President and CEO Rich Umbdenstock. “Stopping these projects also means new jobs are not created within the health care field or for construction workers, contractors, IT specialists and others. The ripple effects of the capital crunch on employment are cause for great concern.” Stopping or postponing facility upgrades and technology investments has significant ramifications for communities served by these hospitals and for the health care system as a whole.
And a few highlights:
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More than 8 out of 10 hospitals said they have delayed projects to update or replace aging clinical equipment or use IT to automate clinical processes.
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More than six out of 10 hospitals reported that facility upgrades, and clinical and information technology projects would have increased patient care efficiency and improved quality of care.
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Nearly 60 percent of hospitals said the IT projects that are put on hold would have improved care coordination.
I have a feeling a few of those companies providing services to hospitals may need to update a few things–like their PowerPoints and “Market Opportunity” sections of the business plan–at least for now.
Don't Know What You Got (Till It's Gone) -- Via Hal
Related: Health Reform Passes! (In China)
Posted by CharlotteGee
Filed under: health it, health policy | Tags: health policy, Obama Administration
Google “Obama and health care” and be prepared to wade through link after link, opinion after opinion. During the excitement surrounding Tuesday’s activities, many in the health care world listened intently to the President’s speech, all ears for health care mentions. The Wall Street Journal’s Health Blog highlights the two:
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We, focused as ever, listened for any tidbits about health care and heard two. First, there was an acknowledgment of the expense of health care in a long list of woes the nation now faces.
That we are in the midst of crisis is now well understood. Our nation is at war, against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age. Homes have been lost; jobs shed; businesses shuttered. Our health care is too costly; our schools fail too many; and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet.
Later, in keeping with Obama’s seemingly ceaseless message of hope, health came up again as the president talked about how the U.S. can “lay a new foundation for growth.”
For everywhere we look, there is work to be done. The state of the economy calls for action, bold and swift, and we will act – not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place, and wield technology’s wonders to raise health care’s quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. And all this we will do.
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People are appropriately a-buzz with the prospect of money being poured into renewed focus on health information technology. Many are for it, saying the time is now and let’s get moving–yesterday!; many are against it, arguing that there are plenty of other (better) ways to help the system; many say that it sounds good on paper and over the speakers, but you’d better have a pretty smart checklist in place before making any moves.
After the speech, Virginia Postrel and Shannon Brownlee had an online conversation, posted on The Atlantic, about the intricate nature of the health care system–touching on issues ranging from interoperability to EMRs to innovation in medicine. Shannon notes:
What’s interesting is the fact that the federal gov’t has to get involved in stimulating EMRs in the first place. I can’t think of another major industry that has not decided to invest in computerized records. Why not health care? Because you don’t get rewarded for doing a better job of caring for patients, or doing it more economically, two things that EMRs could help providers do.
Wherever you fall on health care reform, 2009 is sure to be an interesting show. Set the DVR.
Posted by CharlotteGee
Installment #9:
Medtronic Pays Surgeon ‘$20,000 or More’ — Much, Much More
Venture dollars going to health care drop for first time in 5 years
Report: Pfizer May Cut Sales Force by Nearly a Third
A “fundability matrix” to visually demonstrate how investors think, and how they tend to classify 4 main types of entrepreneurs (via nPost Blog)
Posted by CharlotteGee
Installment #8:
Five Health Insurance Predictions for 2009
Cigna says it will eliminate 1,100 jobs, or four percent of its total employment.
Nationally, the number of IPOs dropped to 30 in 2008 from 204 the previous year
100 Ways for Hospitals, Health Systems to Twitter (really?)
(But …) 63% of hospitals studied have little presence online
72 million people visited health Web sites last year, up 14% from 2007
Early C-Sections Can Double Health Risks for Newborns
The Five Myths of Healthcare Reform
Posted by CharlotteGee
Filed under: economy, innovation, venture capital | Tags: long cold winter, venture capital
You can find Rob over on TechFlash, as a guest columnist for John Cook’s esteemed Venture Blog. Rob’s piece, titled “Government should support the innovation economy,” provides a bit of the good, the bad and the ugly (but never fear … it ends on a somewhat positive note).
An (ugly) excerpt:
So, as we move into 2009, we expect the companies “waiting it out” will finally launch fundraising efforts—and the demand for capital will significantly outstrip the supply.
Angels won’t be able to keep up and the traditional venture community will remain focused on less risky deals and on reserving capital for existing portfolio companies. While I hope to be proved wrong, we [at Faultline Ventures] are predicting that these trends will lead to continued loss of early-stage jobs and the unwinding of early-stage businesses.
Worse, this will have a chilling on our Innovation Economy—shutting down a major engine of economic growth and job creation.
Check out the entire post to see how we might be able to uncover some of the good.
Posted by CharlotteGee
Installment #7:
There will be about 20 million new cases of cancer a year by 2030, up from 12 million a year today
HIMSS report: $25 billion stimulus needed to help speed EMR adoption
Industry Predictions: What Are the Drivers Shaping Health Care IT in 2009?
Posted by CharlotteGee
