Healthcare CFO Report

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Posted By: Annmarie Budniak July 16, 2019

When it comes to healthcare financial and payment matters, value-based care, and policy here is what is being reported and talked about. For more on Healthcare CFOs read our previous reports and to keep your finger on the business news pulse, check out our latest Health IT Business News.

To Listen:

Voices in Value-Based Care: Host Beth Houck takes a trip down memory lane with Tom Lee, Founder and CEO of SA Ignite. Over the last 10 years of business, SA Ignite has seen the value-based care landscape has evolved dramatically, from the passage of the Meaningful Use program all of the way to MIPS today.

Finance

Health Catalyst Proposes IPO Terms
Health Catalyst (HCAT) has filed to raise $129 million in an IPO of its common stock, per an amended registration statement.

Livongo to offer 10.7 million shares in IPO
Livongo Health Inc. the digital-health startup that’s looking to help people manage chronic diseases, set the terms for its planned initial public offering.

HGP Releases its July 2019 Semi-Annual Health IT Market Review
The semi-annual report summarizes M&A and private equity activity across health IT, health information services, and digital health. Report includes:

  • Results from HGP’s Analysis of Private Equity Backlog in Health IT
  • Health IT Market Analysis
  • Health IT M&A and Investment Activity
  • Health IT Valuation Trends
  • Macroeconomic Trends

After $60M loss, New England health system plots plan for profitability
New England health care system Covenant Health hopes to be operating in the black by 2020, after reporting a $60.9 million operating loss in 2018 and taking two hits to its bond rating. A new management team has plans to right the ship, with a two-year turnaround plan already in the works.

Cerner to manage MCHS revenue cycle operations
Odessa TX: Ector County Hospital District board members approved a new agreement with Cerner in which the company will take over Medical Center Hospital’s revenue cycle operations.

In the News

WellSky Celebrates Grand Opening of New World Headquarters and Announces Inaugural WellSky Foundation Recipient
WellSky, a health and community care technology company, opened its new world headquarters in Overland Park, Kansas. The company welcomed its partners, executive leadership team, local employees, and community members for a festive grand opening day that included a ribbon cutting ceremony emceed by FOX4 anchor Loren Halifax and the announcement of Midland Care Connection, an integrated health care services provider, as the inaugural recipient of a $50,000 donation from the WellSky Foundation.

SaaS Industry Veteran David Justus Joins Kareo as CFO To Support Rapid Growth
Kareo (@GoKareo), a provider of cloud-based clinical and business management software for independent medical practices, announced the appointment of SaaS industry veterans David Justus to chief financial officer and Scott Maxwell and David Cozzens to its board of directors. These appointments further strengthen the Kareo executive team and board in support of the company’s rapid customer and revenue growth.

Policy

Big healthcare companies handed the White House three major losses in its quest to lower drug prices this week, and the way things are going it doesn’t look the Trump administration has any sure-fire plan for victory any time soon.

Survey Says

Black Book™ 2019 Chief Financial Officer Survey Reveals Growing Collaboration With Chief Information Officers
​​Black Book surveyed nearly 1,600 hospital and health system Chief Financial Officers, Vice Presidents of Finance and RCM, Controllers, Business Office Managers, Staff, Consultants and Directors to spot trends, collect insights and assess the gaps and urgencies of financial technology administration. Additionally, 124 CEOs were polled to compare and contrast organizational viewpoints to the same situations and circumstances.

State of Patient Data Protection Compels Shift of Ownership to CFOs to Shield Vulnerable Bottom Lines
Black Book reports that according to the results of a Q2 2019 survey on patient privacy monitoring solutions, more hospital chief financial officers are becoming their organization’s designated guardians of health system cybersecurity, as well as the biggest corporate advocates for the purchase of new privacy solutions.

New Spok Survey Reveals Most Clinicians Believe Technology and Workload are the Top Contributors to Clinician Burnout
New findings regarding clinician burnout. More than 470 clinical staff at U.S. hospitals and health systems responded to the Spok-administered survey, which measures clinician perception of burnout. The survey also sought to identify if organizations are implementing solutions proposed in the 2019 paper: A Crisis in Healthcare: A Call to Action on Physician Burnout. Key findings confirm that clinicians think burnout is a “public health crisis,” yet many report their organizations are not implementing recommended strategies to address it.

69 Percent of Healthcare C-suite Say Improving the Consumer Experience is a Top 2019 Priority
Sage Growth Partners (SGP), a Baltimore-based healthcare research, strategy, and marketing firm, announced new survey findings related to the strategies healthcare leaders are using to improve the healthcare consumer experience. The survey of hospital C-suite executives,* commissioned by Docent Health, a healthcare experience and patient navigation company, also explored which strategies are most effective.

Events

HLTH: October 27-30, 2019 MGM Grand, Las Vegas NV