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November 12, 2024, Issue #284

Editor’s note

This weekly newsletter is brought to you by the BigRio and Damo research and insights team.

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Digital Health in the News

OpenAI brings a new web search tool to ChatGPT

The tool puts OpenAI squarely in competition with the search giants and will help fuel its next generation of AI agents. MIT Technology Review

Are GenAI-produced visit summaries the future?

OpenNotes and Abridge want to find out, as they team up for a Beth Israel Deaconess Medical Center project to assess and develop new clinical documentation tools powered by artificial intelligence. Healthcare IT News

Epic Now Fully Supports USCDI Version 3

Newest version of United States Core Data for Interoperability standard adds data elements including tribal affiliation, disability status, caregiver relationships, and preferred language. Healthcare Innovation

65% of health systems spend less than recommended on IT

Despite the growing importance of technology in healthcare, nearly 65% of organizations report spending less than the recommended 5% of their revenue on IT each year. Becker’s Hospital Review

This Week in The Big Unlock Podcast

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This is the Generative AI’s ‘Hello World’ Moment

In this episode, Piyush Mathur, MD, Staff Anesthesiologist and Critical Care Physician of Cleveland Clinic, shares his journey in medicine, passion for improving patient care, and transformative work in artificial intelligence (AI). 

 👉Listen now  

 👉The Big Unlock Podcast Archives 

Featured Offering for The Month

CRM Consulting

Engage, Acquire, and Retain

CRM consulting

Connecting CRM with a health system’s System of Records offers a 360-degree view of the patient to coordinate appropriate care while empowering front-line support teams to interact with and provide an optimal patient experience. Here's how we helped a large, leading health system, Sentara, transform its contact centers. 

👉Learn More

👉CRM Consulting Package

👉Book an Introductory Call

Insights & Research

Why AI Governance Is the Number 1 Issue on This Health System Exec’s Mind

Jason Hill, Ochsner Health’s innovation officer, said he goes to sleep most nights and wakes up most morning worried about one thing: the state of generative AI governance in healthcare. To him, providers and other healthcare organizations are in dire need of frameworks to ensure their AI tools are safe and perform well over time. MedCity News

Featured Events 

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📢 Upcoming Event Alert!

Discover how Generative AI (GenAI) is transforming the healthcare landscape in this exciting and informative webinar. Join industry leaders and AI experts as they explore the latest and most impactful use cases of GenAI in healthcare. From drug discovery to patient care, GenAI is revolutionizing the way healthcare providers, researchers, and companies operate—enabling faster innovation, improved patient outcomes, and reduced operational costs. 

👉 Register your interest to participate.

👉 Learn more 

👉 Also explore our customized in-person workshops here.

Damo Thought Leadership and Media Mentions

Power of AI and Generative AI in Healthcare: Insights from CHOP’s Digital Transformation Journey

CHOP, one of the world’s leading pediatric hospitals, is at the forefront of leveraging AI to improve patient outcomes, enhance operational efficiencies, and foster a digital-first culture. Damo Blog

Healthcare Data and Analytics: Unlocking the Future of Pediatric Care

According to Jawad, 80-90% of analytics is generated using only 20% of available data. A significant amount of unstructured and imaging data remains untapped, creating challenges for healthcare organizations to adopt more multi-modal approaches to fully leverage their data for better patient care and operational efficiency. Damo Blog

From Assessment to Action: How BigRio’s Cloud Consulting Services Transformed a Top Global Business School

This case study showcases BigRio’s ability to leverage its expertise in cloud technologies and project management to support one of the world’s leading business schools in achieving its Digital Transformation objectives. The business school could reduce its cloud expenditures without compromising performance or scalability by optimizing resource allocation and eliminating underutilized services. The project provided a well-defined cloud strategy and a comprehensive two-to-five-year roadmap for future growth. BigRio Case Study

How Damo Helped An Integrated Not-For-Profit Healthcare Delivery System Develop Four Enterprise Patient Journey Maps In Three Months

A large not-for-profit integrated healthcare delivery system on the East Coast focuses on innovation and creating exemplary healthcare experiences. Damo has been a long-time advisory partner and understands the health system’s strategic vision well. Damo Consultants knew the health system’s in-flight work towards improving their patient experience. As such, the health system engaged Damo in identifying the first set of journey maps that should be developed at an enterprise level and then prioritized and developed the first four maps. Case Study

Books Corner

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Other Stuff We’re Reading

Is There Still a Place for Point Solutions? One Investor Weighs In

There are some areas where point solutions make a lot of sense, such as when they’re focused on a condition without a lot of comorbidities, according to one healthcare expert. MedCity News

A Practical Guide to Gaining Value From LLMs

Getting a return from generative AI investments requires a systematic approach to analyzing appropriate use cases. MIT Sloan Management Review

Digital Health Funding and M&A

Health Catalyst acquires cybersecurity firm Intraprise Health for $43M

The company also reported Q3 2024 earnings, noting total revenue of $76.4 million, adjusted EBITDA of $7.3 million and a net loss of $14.7 million. mobihealthnews

General Catalyst's HATCo acquires Summa Health for $485M

HATCo will spend a total of $550 million in capital funding to invest in technologies and innovation. mobihealthnews

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