As Covid-19 cases started escalating last April, providers in hotspot states, like New York, California and Washington, had to quickly pivot their IT plans. These are some of the decisions that five health IT leaders made — aside from expanding telehealth — that helped their… Read More »The key IT decisions that helped providers survive April 2020
A new digital health company — spun out from Providence’s Digital Innovation Group — has raised $20 million in its first funding round. The company offers a platform that aims to help providers coordinate and manage digital care services.
The 51-hospital system and artificial intelligence company are building on their existing collaboration to deploy technology that will allow physicians to focus solely on their patients during visits.
A report by Kaufman Hall showed that while hospitals’ operating margins improved in July, they were down 96% since the start of the year. Including funding allocated through the CARES Act. Without CARES Act funding, hospital margins were still down 28%.
Providence posted a $221 million operating loss in the first half of 2020 due to the Covid-19 pandemic. The Washington-based health system saw patient volumes decline by 13% in the first six months.