Summer tends to be a slower time for healthcare and health IT news. Everyone is excited for the break between the spring and fall conferences and a chance to get some much needed time off. But that doesn’t mean there is no news! Here are some highlights from July.
Hospital and health system mergers and acquisitions are the highest since 2020 and growing. The big news this summer has been the continued growth in mergers and acquisitions reported in several publications. According to one article, “Hospital merger and acquisition activity in quarter one of 2024 hit a first-quarter high since 2020.” The piece went on to say that, “The number of transactions announced in Q1 2024 increased from 15 in Q1 2023, 12 in Q1 2022, and 13 in Q1 2021.” In addition, “Four of the 20 transactions announced in Q1 2024 were mega-mergers—deals where the seller’s or smaller party’s annual revenue exceeded $1 billion.” If you’re wondering how this impacts patient experience, the answer is that any change to an organizations’ brand and culture can impact patients. This should be an important consideration.
Is it time to reevaluate the approach to the digital front door? According to a new article on digital front door strategy in Healthcare Business Today it might be. Recent studies suggest that patients want a more streamlined experience where they can manage their healthcare in one platform that they can access on their smartphone.
The Beryl Institute-Ipsos PX Pulse latest release reveals critical opportunities for US healthcare organizations. According to the news release, 91% of consumers prioritize healthcare experience, highlighting importance of clear communication and personalized care. Read the full press release and get insights into the latest data on patient experience expectations.
Hospital margins are improving but not steady yet. Strata Decision’s Monthly Healthcare Industry Financial Benchmarks showed that median hospital margins increased to 5% in May, but were down from April. The data from 1,600+ US hospitals showed revenue trending in a positive direction. However, margins are still impacted by higher expenses. The unpredictability has made many healthcare organizations hesitant to invest in new projects. However, there is data to suggest that health systems that continue to invest in digital health weather financial storms better than those who don’t.
A new article in MedCityNews, True Blue-Dot Navigation in Healthcare is Both Harder and More Important Than You Think, looks at the impact of good digital wayfinding on patient experience.