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Happy Thursday, Hospitalogists!

We've hit Q4 and all of a sudden everyone's out getting things across the finish line before the holidays begin.

Lots of activity (and college football hot takes) to cover in this newsletter today so strap in!

Finally, these newsletters take a heck of a long time to put together with visuals and everything in between - if you could take a second to share and forward Hospitalogy to colleagues, I'd really appreciate it!

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1. BLAKE'S BREAKDOWN

Going deeper on an interesting topic, theme, or trend

Health Systems with Combined $60B in Revenue Form Longitude Health

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Baylor, Memorial Hermann, Novant, and Providence, four systems with a combined nearly $60B in annual revenue, are collaborating on a new venture called Longitude Health, where they'll funnel investment dollars into areas of perceived strategic importance across innovation & efficiency.

Specific areas called out include business model transformation (AKA, health system transformation), consumer-facing initiatives for patients across cost, quality, and access and equity, and finally efficiency-focused areas to drive expense savings across these large, sprawling giants.

Longitude Health is like a cross market merger without the merger. In this case, the parties involved aren't colluding to raise prices or dominate markets, but rather want to drive efficiencies in new companies/ventures that can scale across their portfolios, and ultimately make money on the back end investments. The move brings me back to pandemic days when health systems announced staffing alliances like Evolve or data platforms like Truveta. Clearly at this point in time, investing and incubating new clinical and administrative innovation is top of mind in health system strategy rooms.

…and on a similar note, Henry Ford Health is spinning off its population health unit into its own company Populance. It's a notable move right after recent M&A: Henry Ford also closed its acquisition of Ascension hospitals in the Michigan area, and the recent moves may signal a deeper move into revenue diversification in value-based care, similar to what we've seen with Intermountain and Castell.

The Weekly Executive Summary

Notable moves, policies, and strategies from around healthcare.

PBMs cry foul

CVS, Cigna, and UnitedHealth are trying to kick Lina Khan off the FTC's PBM antitrust suit, citing bias.

An Epic Debacle

In the midst of heated back and forth between Epic and Particle, Carequality released a resolution related to its interoperability network. Still, the antitrust suit will continue. Between PBMs and this, I think this will be the closest we get to a healthcare soap opera in 2024. And FTC involvement is possible?

Amazon smells blood

Amazon wants to take advantage of retail pharmacy woes. On October 9, the retail giant with a sprinkling of healthcare announced its intention to expand to 20 new cities in 2025 which is double the size of its current operating footprint. While certain healthcare delivery initiatives have fallen flat (for now), Amazon has found a foothold in pharmacy services, providing same-day delivery (huge), 24/7 access to a pharmacist, and launching and then expanding RxPass in June 2024.

A number of ambient AI updates!

Microsoft is further expanding its relationship with Epic, working with several large health systems in conjunction with Epic to develop tools like AI service agents and AI ambient tech built for nurses specifically.
Suki secures $70M in Series D funding as demand surges, and expands its strategic partnership with MedStar Health.
Abridge launches a research collaborative to explore new medical insights with ambient AI. Riverside Health also chooses Abridge to enhance clinician and patient experiences across care settings.
NextGen Healthcare introduces AI-driven ambient listening innovation for ophthalmologists and optometrists.
Nabla's ambient solution sees rapid adoption at the University of Iowa Health Care with over 900 providers using the technology within 30 days.

More quick hits from the past couple of weeks:

Overdoses and obesity decline, showing hopeful signs of improving health among Americans.
TPG acquires Surescripts to enhance patient care and meet evolving healthcare needs.
Medicaid 'Unwinding' expands in many states, reversing initial concerns.
KFF reports a 7% rise in employer family premiums in 2024.
Medicare Part D snapshot provides current insights into the prescription drug benefit.
HHS releases final guidance for the second cycle of the Medicare drug price negotiation program.
Kroger closes the sale of its specialty pharmacy business to Elevance.
Cancer centers launch a Cancer AI Alliance with $40M from big tech.
CMS proposes increased oversight on ACA exchange brokers.
Kaiser Permanente and HCA HealthONE expand their relationship in Colorado.
Fullscript acquires Rupa Health as digital health consolidation continues.
AstraZeneca and Gilead merger would be the biggest in pharma history if it proceeds.
RWJBarnabas CFO focuses on improving margins with a key strategy.
Telehealth access for Medicare beneficiaries faces risks as policies shift.
More Medicare Advantage beneficiaries file appeals for denied services or treatments.
Texas pauses $116B Medicaid contract awards, to the relief of state health plans.
Harris to announce a new Medicare home care benefit.
Physician-owned practices boost satisfaction with key lessons for the industry.
Nursing is entering a transformational era.
California hospitals scramble to meet earthquake retrofit deadlines as state limits extensions.
Massachusetts alleges that Steward Health's malpractice insurer leaves doctors exposed.

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Partnerships & Products

Collaborations, launches, and other tidbits to keep on your radar.

athenahealth launches athenaOne for Behavioral Health
WellSpan launches Hippocratic AI's generative AI healthcare agent.
SCAN taps Instacart for a new grocery allowance benefit.
Community Health Systems announces a partnership with Denim Health to scale conversational AI across its patient access centers.
Ardent Health partners with Qventus to drive strategic perioperative growth.
Phreesia secures a new contract with CMS as patient activation improves in the first year of the Kidney Care Choices (KCC) Model.
BoldAge PACE opens a new program in North Charleston, S.C., offering comprehensive care for seniors.
Ophelia expands opioid addiction treatment in New Jersey, now serving 89% of Medicaid patients.
Sunoh.ai helps a leading gastroenterology practice increase its daily patient count by 50% through time-saving technology.
Essence Healthcare expands into Chicago.
Bon Secours Mercy Health opens a state-of-the-art cardiovascular surgery center in Henrico, Virginia.
Concentra opens a new medical center in Orlando, Florida.
Mary Washington Healthcare outsources its revenue cycle management to Ensemble.
Ambulnz by DocGo renews its partnership with Bayhealth in Delaware, extending the contract for three years.
Emory Healthcare continues its collaboration with Anthem Blue Cross and Blue Shield to improve health outcomes.
Carrum Health pioneers value-based treatment for America's substance use epidemic.

MISCELLANEOUS MADDENINGS

This is the best slate of college football games I've seen and I can't wait to watch. I'll be at the Red River Rivalry (on a 95 degree day the first year they switch the game to 2:30...sigh) and of course am expecting a Longhorn victory. If OU pulls out a W I will be...very very sad.

Ohio State - Oregon: An awesome matchup. Oregon is tough to beat at home. Ohio State has an elite defense. Ultimately I think this game comes down to how Gabriel performs in the spotlight, and if Oregon can get the line of scrimmage moving.

Penn State - USC: Somehow Penn State has moseyed its way up the rankings to a cozy #4. Are they deserving? Maybe, but we've all seen this play out before...like the past 5 years...where there's a ton of hype and then they can't get it done when it matters against the top programs. USC will give them some trouble but I'd expect to see a Nittany Lion W.

Ole Miss - LSU: A classic matchup. Ole Miss with the surprising loss to Kentucky but a bounceback last week. Death Valley a tough place to get out of alive (literally). I'm going with the Lane Train.

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— Blake

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