Pivot Point Consulting, a Vaco Company

Pivot Point Consulting, a Vaco Company, is proud to announce that we’ve been named 2024’s No. 1 Best in KLAS: Managed IT Services and No. 1 Best in KLAS: Technical Services. We could not have done this without our superb team members, and we’re honored to be recognized for the support and passion we bring to our clients every day. Read the full press release here: https://bit.ly/42t4u7h #HealthcareIT | #BestinKLAS | #ManagedServices | #TechnicalServices | KLAS Research

Only 40% of U.S. adults trust doctors and hospitals, according to a new survey published in JAMA Network Open. That is a sharp drop from April 2020, when 71.5% of survey respondents reported having confidence. Researchers from Mass General Brigham attributed the decline to the COVID-19 pandemic, the controversy over vaccines and the accompanying politicization of healthcare. A lack of trust can have harmful ramifications, such as declining vaccination and fewer medical appointments. https://lnkd.in/gJpaGJ7D I #ClinicianTrust #Healthcare #Doctors Modern Healthcare

How deep are your cash reserves? Rebuilding cash reserves post-pandemic is a priority among hospital CFOs and revenue cycle leaders, according to a survey from Knowtion Health. Polling of more than 75 executives found that they are increasing reserves by cutting costs and increasing revenue through service line management. https://lnkd.in/gWMrYD2M I #RevenueCycleManagement #HospitalOperations #HealthcareFinances #RCM #HospitalFinances Healthcare Finance News

CrowdStrike IT outage dealt a significant blow to healthcare and the broader U.S. economy: ▶ $1.9 billion loss to healthcare industry ▶ 75% of healthcare and banking organizations were impacted ▶ U.S. Fortune 500 companies (excluding Microsoft) lost $5.4 billion ▶ Portion of losses covered under cyber insurance policies is no more than 10% to 20% ▶ Weighted average loss is $44 million per Fortune 500 company Read more here: https://lnkd.in/gPv9Fe-2 I #Healthcare #HealthTech #Hospitals #Cybersecurity #CrowdStrike #CrowdStrikeOutage

New technology can be daunting, particularly when it’s as powerful as AI, but healthcare organizations should resist the urge to clamp down on it. Instead, they should develop clearly defined strategies to embrace it for their own benefit, says MaryJo "mj" Stojak, Managing Director of the Data, Analytics & AI practice at Pivot Point Consulting. In a new article in Chief Healthcare Executive, she offers 5 guidelines for implementing AI safely and effectively. Read more here: https://lnkd.in/gbzrfmK7 I #HealthcareAI #HealthTech #HealthcareInnovation #GenAI

Are hospital CEOs pursuing mergers in order to earn higher salaries? A new study from Rice University's Baker Institute for Public Policy indicates they might be. Researchers analyzed CEO compensation for 1,100 hospitals and nonprofit health systems in 2012 and 868 organizations in 2019. Unsurprisingly, the leaders of larger systems earned more. Study lead author Derek Jenkins said the findings suggest CEOs are incentivized to consolidate systems “in order to reap the rewards of leading a larger, more profitable health care system.” Read more in HealthLeaders: https://lnkd.in/gFu8d-un I #Hospitals #HealthcareLeadership #HospitalCEO #HealthSystem 

Which healthcare systems are best prepared for the AI revolution? Not surprisingly, they’re among the most highly regarded in the country: Mayo Clinic, Intermountain Health and Cleveland Clinic. Market analyst CB Insights recently released an AI Readiness Index ranking 25 private sector hospitals by AI innovation and execution. Whether your system made the cut or not, we can help it unleash the true potential of data insights and AI-powered innovation to drive effective clinical and business decision-making. Your data is an asset – put it to work! Ready to unlock your data’s potential? Learn how today! https://lnkd.in/ecHy_RsQ I #HealthcareAI #HealthTech #HealthcareInnovation #HealthcareData

Hospital systems are suing to overturn the Federal Trade Commission’s recent ban on noncompete contracts. The American Hospital Association, Federation of American Hospitals, American Property Casualty Insurance Association and other industry organizations have filed briefs urging federal courts to overturn the ban. The hospital groups argue that the FTC lacks the authority to apply the noncompete rule to nonprofit hospitals. The rule is set to go into effect Aug. 30, but courts could delay or overturn it. https://lnkd.in/gRUEz39q I #Hospitals #HealthSystems #HealthPolicy #FTC #HealthcareInnovation Bloomberg Law

This week at Epic UGM, Pivot Point Consulting's Managing Director of Enterprise Applications, Kathy Krypel, worked with Allina Health’s Maggie Dreon and Dr. Todd Smith to deliver an insightful presentation titled, "Converting Medical Messages to eVisits: A Unique Approach (the whole story). We tackled the surge in MyChart medical messages, which had climbed to over 500 per primary care provider each month, resulting in significant uncompensated care. Our objectives were straightforward: reduce message volume and establish a fair compensation pathway for providers when medical decision-making was involved. Key takeaways: ▶ Initial concerns from providers and patients about charging for previously free services were quickly addressed, with no ongoing complaints. ▶ Consistent messaging and change management are essential for broad adoption across the system. ▶ Splitting out 'Refill a Medication' as a care choice separate from 'Send a Message' significantly reduced message volume. The results? Allina Health has achieved a sustained 20% reduction in messaging, and the daily average of MyChart messages is now below the Epic average in primary care. To learn more about this project or other strategies to enhance provider efficiency and tackle burnout, contact Kathy Krypel at [email protected]. I #UGM #EpicUGM #UGM2024 #UGM24 #EHR #ClinicianBurnout

From flight delays to temporary bank closures and, more critically, the halting of vital operations such as those of government agencies, emergency services, and healthcare organizations, the recent CrowdStrike outage has underscored the vulnerability and dependency on third-party vendors, highlighting the urgent need for comprehensive business continuity plans. As healthcare systems increasingly rely on complex software and AI for cybersecurity and operations, Zack Tisch, PMP, SVP of Healthcare Services at Pivot Point Consulting, shares with Healthcare IT Today why organizations must map their vulnerabilities and integrate vendor landscapes into their continuity strategies. Technology vendors' transparency regarding their business continuity plans and updating vendor agreements to ensure redundancy and minimize the risk of outages are becoming essential. Zack explains that healthcare organizations must strike a balance between simplicity in downtime processes and preparedness for a variety of outage scenarios. Engaging an experienced third-party consulting organization can help set them up for success by addressing their tech vendor landscape and business continuity plans for outages. https://lnkd.in/e9G2CbRF I #CrowdStrikeOutage #Cybersecurity #HealthIT #HealthcareInnovation #DigitalTransformation