New Healthcare IT Trends Reshaping Mergers and Acquisitions
Following a brief lull representing the collective breath-holding of American healthcare executives as the U.S. Congress struggled to repeal the Affordable Care Act, there has been an uptick in mergers and acquisitions activity in recent weeks. A bevy of recent announcements suggests the consolidation of health systems and hospitals continues to be a shelter from the impact of current economic pressures and unpredictable political headwinds blowing across America’s healthcare industry.
Not only are we seeing traditional providers increasingly coming together to pool resources and extend their reach into new markets across the country, we’ve just witnessed a bold, non-traditional marriage between a major retail pharmacy chain and a giant payer, introducing a whole new kind of competition to the space: the rise of the minute clinic.
It’s no secret what’s going on here. Faced with declining reimbursements, consolidation is a way for organizations to drive greater efficiencies through economies of scale - while also putting them into a better bargaining position to reduce the cost of care without eliminating budget dollars dedicated to enhanced quality and delivery of higher levels of service to the patient.
But what goes on behind the scenes in these consolidation scenarios to ensure newly-purchased assets operate normally through the transition in ownership with no disruption or degradation in patient care? Reliable data protection and the enablement of fast integration and access to patient information are key.
Prime Healthcare - one of the five largest and fastest growing for-profit hospital systems in the nation - regularly acquires financially-distressed, community-based hospitals and turns them around. To quickly centralize patient information and business data, Prime allows acquired hospitals to share standardized, advanced IT infrastructure that, in turn, provides a stable foundation on which to deliver more comprehensive and coordinated patient care. The organization relies on Commvault software to rapidly streamline data management and replace isolated systems with a unified solution built to deliver robust, scalable performance for its existing and new environments.
Prime Healthcare’s goal is to migrate 10 new hospitals a year to Epic while continuing to support its aggressive acquisition plans. Read the case study to learn more about Prime Healthcare’s approach to quickly integrate and safeguard critical clinical and operational data across newly acquired and existing hospitals within its ecosystem using Commvault’s Epic-validated reference architecture.
The wave of mergers across the industry represents a transformative trend. This is a moment of opportunity for Healthcare IT Leaders to support the business requirements by enabling flexible, scalable and centralized data protection solutions across business and clinical applications to ensure consistent delivery of quality patient care, drive down costs and support growth. Learn more about how Commvault's healthcare data management solutions can help you prepare.