Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Innovative Healthcare Partnerships: Making the Most of Merging Resources and Capabilities

Healthcare mergers and acquisitions performed solidly in 2020, despite the downturn in the U.S. economy and healthcare in general. Organizations responded to new challenges by partnering with each other to build core business strengths, address gaps in care delivery the pandemic exposed, and enhance their resources to navigate current and future crises.

Realizing the potential of emerging healthcare partnerships requires an open and scalable analytics infrastructure plus a cultural and contractual openness to allow innovation to flourish. Organizations that have adopted an open analytics platform have the data operating advantage to form partnerships, efficiently and smoothly bring best-of-breed solutions to market, and enable the innovative potential of collaborations.

  • Be the first to comment

  • Be the first to like this

Innovative Healthcare Partnerships: Making the Most of Merging Resources and Capabilities

  1. 1. Innovative Healthcare Partnerships: Making the Most of Merging Resources and Capabilities
  2. 2. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Innovative Healthcare Partnerships According to a January 2021 report from consulting firm Kaufman Hall, COVID-19 and the overall 2020 U.S. economic downturn didn’t substantially slow healthcare mergers and acquisitions (M&A). The pandemic, and its associated impact, appears to be a driver behind the active healthcare M&A market, suggesting that health system leaders, investors, and digital health companies will continue to seek partnerships for the foreseeable future.
  3. 3. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Innovative Healthcare Partnerships The Kaufman Hall research suggests one way health systems are responding to COVID-19 is partnering with other organizations to build core business strengths, address gaps in care delivery the pandemic exposed, and enhance their resources to navigate current and future crises. For example, health systems will need capabilities to expand digital access, deliver data-driven care, address care equity and disparities in outcomes, and offer a broader range of care options to their communities.
  4. 4. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Innovative Healthcare Partnerships Realizing the potential of emerging healthcare partnerships means organizations must operate in an open environment that facilitates data exchange, enables best of breed point solutions, and, as the ultimate aim, drives data-driven improvement in healthcare. Optimizing partnerships requires an open and scalable analytics infrastructure, plus a cultural and contractual mindset for innovation to flourish.
  5. 5. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Making the Most of Emerging Healthcare Partnerships Partnering organizations often lock themselves into closed workflow frameworks (i.e., transactional tools) and/or restrictive contractual relationships. This approach can impede data exchange and, as a result, an organization’s innovative potential.
  6. 6. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Making the Most of Emerging Healthcare Partnerships Open analytics platforms, such as the Health Catalyst Data Operating System (DOS™), are an open alternative to closed frameworks. Open platforms, like DOS, combine data from many proprietary source systems. As such, analytics platforms are inherently open and ensure agility and flexibility in all kinds of healthcare environments providing the optimal open framework to bring best-of- breed point solutions to market.
  7. 7. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Making the Most of Emerging Healthcare Partnerships Organizations that match a consolidating analytics architecture with a cultural mindset of agility and flexibility will realize the most transformative benefits of new partnerships and adapt to COVID-19-era uncertainty as well as imminent challenges.
  8. 8. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Enabling Best-of-Breed Solutions Organizations historically purchased best-of-breed solutions from different vendors to meet specific needs. In the 1990s, best-of-breed architecture characterized healthcare as non- integrated systems that performed well in only a specialized area and were challenging to maintain.
  9. 9. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Enabling Best-of-Breed Solutions To reduce maintenance needs and enable the electronic capture of care delivery activities, healthcare leaders then adopted monolithic single-vendor EHRs. These workflow systems soon proved to be inflexible in supporting analytic use cases and enabling best-of-breed point solutions. However, in the 2010s, the emergence of market-leading open-analytic platforms supported a resurgence of these best-of- breed applications—an environment that allows new partnerships and more innovation to occur.
  10. 10. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Enabling Best-of-Breed Solutions The inherent flexibility of the open, integrated data infrastructure of an analytics platform allows integration and scaling at the application layer. Conversely, closed, or siloed, transactional systems don’t integrate or scale. Compared to the disparate transactional and workflow tools that defined the EHR era, integrating on top of an analytics platform is a more scalable way to scale and integrate best-of-breed solutions.
  11. 11. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Enabling Best-of-Breed Solutions The EHR forces organizations to knit together siloed workflow solutions, locking them into those capabilities—whether they develop or acquire the new applications. With flexibility at the application layer, the open platform allows organizations to customize their analytics capabilities by picking the solutions that best serve their needs.
  12. 12. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. The Fundamental Components of an Open Analytics Platform An open analytics platform must have the following fundamental components to deliver the required agility and flexibility to bring innovative solutions to market:  Flexibility  Single source of truth  A robust interoperability layer
  13. 13. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. The Fundamental Components of an Open Analytics Platform Flexibility allows selection of best of breed at applications layer and enables best-of-breed decision making and ability to stay current with new technology.
  14. 14. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. The Fundamental Components of an Open Analytics Platform A single source data truth enables a data- driven approach to decision making, making it accessible from disparate sources.
  15. 15. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. The Fundamental Components of an Open Analytics Platform A robust interoperability layer, positioned between the data platform and applications layers, fuels an efficient data extraction and export, bringing application layer efficiency to the market.
  16. 16. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Open Systems Equal Best of Breed Organizations that have adopted an open analytics platform have the data operating advantage to form partnerships, efficiently bring best-of-breed solutions to market and realize the innovative potential of collaborations. Furthermore, an open framework avoids potential regulatory risks relative to the lack of data exchange, and most importantly, enables data-driven care and improved access for patients.
  17. 17. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. For more information: “This book is a fantastic piece of work” – Robert Lindeman MD, FAAP, Chief Physician Quality Officer
  18. 18. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. More about this topic Link to original article for a more in-depth discussion. Innovative Healthcare Partnerships: Making the Most of Merging Resources and Capabilities A Healthcare Mergers Framework: How to Accelerate the Benefits Health Catalyst Editors Critical Healthcare M&A Strategies: A Data-driven Approach Tim Zoph, Client Executive and Strategist at Impact Advisors; Dale Sanders, Strategic Advisor The Key to Healthcare Mergers and Acquisitions Success: Don’t Rip and Replace Your IT Health Catalyst Editors Agnostic Analytics Solutions vs. EHRs: Six Reasons EHRs Can’t Deliver True Healthcare Interoperability Mark McCourt, Senior VP, Sales; Mike Noke, MBA, Senior Regional Account Executive; Neil Andersen, Senior Account Executive; Ryan Smith, MBA, Senior VP and Executive Advisor Interoperability in Healthcare: Making the Most of FHIR Brian Eliason, MIS, SVP, DOS Operations; Kevin Sigafoes, Director, Product Strategy
  19. 19. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Joined Health Catalyst in August, 2014 as a Senior Vice President. Prior to joining Health Catalyst, he was a Co-Founder and the Managing Director of CHV Capital, a venture capital affiliate of Indiana University Health. In addition to Health Catalyst, Kyle led CHV/ Indiana University Health’s investments in a range of healthcare IT and medical device companies, including MedVentive (acquired by McKesson), MindFrame (acquired by Covidien), Perfect Serve, NICO, NeoChord, Par8o, and Celleration. Prior to CHV Capital, he served in a number of leadership positions across government, academia, and in entrepreneurial companies, including as a Special Advisor to the President of Indiana University & Executive Director for Advancing Indiana, Investment Director & Innovation Fellow at Rose-Hulman Ventures and the Rose-Hulman Institute of Technology, Senior Vice President of Thomas P. Miller and Associates, Vice President of the Indiana Technology Partnership, and Economic Development Manager for the City of Indianapolis, Mayor Stephen Goldsmith. Other Clinical Quality Improvement Resources Click to read additional information at www.healthcatalyst.com Kyle Salyers
  20. 20. © 2021 Health Catalyst Proprietary. Feel free to share but we would appreciate a Health Catalyst citation. Other Clinical Quality Improvement Resources Click to read additional information at www.healthcatalyst.com Health Catalyst is a mission-driven data warehousing, analytics and outcomes-improvement company that helps healthcare organizations of all sizes improve clinical, financial, and operational outcomes needed to improve population health and accountable care. Our proven enterprise data warehouse (EDW) and analytics platform helps improve quality, add efficiency and lower costs in support of more than 65 million patients for organizations ranging from the largest US health system to forward-thinking physician practices. Health Catalyst was recently named as the leader in the enterprise healthcare BI market in improvement by KLAS, and has received numerous best-place-to work awards including Modern Healthcare in 2013, 2014, and 2015, as well as other recognitions such as “Best Place to work for Millenials, and a “Best Perks for Women.”

×