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August 05, 2024, Issue #270

Editor’s note

This weekly newsletter is brought to you by the Damo and BigRio research and insights team.

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Digital Health in the News

Ochsner Health selects DeepScribe to bring ambient AI to clinicians

Oschsner Health announces an enterprise-wide agreement with DeepScribe to implement its ambient AI clinical documentation technology across its 46 hospitals and 370 health and urgent care centers. DeepScribe ambient AI turns each patient conversation into a complete, accurate note with real-time insights for clinicians, empowering them to be fully present with the patient while helping health systems achieve quality and value-based goals. Oschner Health

Baptist Health brings urgent care waits down to 6 minutes with telemedicine

The health system deployed comprehensive virtual care devices in all of its urgent care clinics, vastly improving the patient and provider experiences and boosting the bottom line. Phoenix Business Journal

Optimism for AI to improve healthcare grows, survey shows

A national consumer survey of 2,000 Americans found that 75% of respondents say they're "very" worried about the financial impact of a health emergency. But 48% were optimistic about healthcare AI's potential to improve healthcare's accuracy, efficiency and outcomes. Healthcare IT News

4 Things to Know About the CrowdStrike IT Outage’s Effect on Healthcare

Hospitals all over the country were affected by the recent IT outage caused by CrowdStrike's software update. The incident is estimated to have costed Fortune 500 companies in the healthcare sector about $2 billion. MedCity News

Featured Offering for The Month

GenAI Workshp 

Accelerating Innovation in Healthcare with Generative AI

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Damo offers customized onsite, in-person healthcare-focused learning and ideation workshops to accelerate your GenAI journey. We recognize the need to support healthcare organizations in every stage of their GenAI readiness. Our workshop solutions include:

  • Interactive Learning Sessions: Organizations who are new to GenAI and has only basic awareness
  • Collaborative Ideation Work Sessions: Organizations who are now looking to focus on GenAI with identified use cases
  • Steering Committee & Governance Advisory: For those who are now ready to move ahead with GAI strategically but do not know where to start
  • Application Development & Implementation: For those who know what they want with GAI and need a reliable partner 

👉Learn more

👉Schedule a Discussion

Insights & Research

Less than half of Americans trust doctors, hospitals: survey

Trust in doctors and hospitals has plummeted over the course of the COVID-19 pandemic, according to survey results published in JAMA Network Open. Modern Healthcare

Average cost of healthcare data breach nearly $10M in 2024: report

Though expenses declined since last year, healthcare is still the costliest industry for data breaches — a spot the sector has held since 2011. Healthcare DIVE

Featured Events

genai workshop

📢 Upcoming Event Alert!

Join us at the Generative AI Workshop 2024 in Boston on Friday, September 13, 2024, at The Harvard Club of Boston. This is an exclusive, invite-only event for Healthcare C-Suite Executives and Healthcare Leaders to explore Generative AI in healthcare.

👉 Register your interest to participate.

👉 Learn more

👉 Also explore our customized in-person workshops here.

Chart of The Week

chart aug 5

Source: JAMA Network

Damo Thought Leadership and Media Mentions

Harnessing AI Innovation in Healthcare: Transformative Applications and Future Directions

This article explores the transformative applications and future directions of AI in healthcare, focusing on key areas such as GenAI, RAG, Med LLM’s, Enterprise search, secure and private search, and multi-agent AI systems. Damo Blog

2023 DigiMTM Digital Maturity Momentum Awards

We are thrilled to announce the recipients of the 2023 DigiMTM Digital Maturity Momentum Awards, recognizing excellence and contributions to digital transformation in healthcare. These awards celebrate individuals and organizations that have demonstrated outstanding commitment, innovation, and impact in advancing digital maturity within our industry. Damo Research and Thought Leadership

Six Trends In The Use Of Generative AI In Healthcare

Last week, we conducted the CHIME online focus group, with our esteemed CHIME healthcare provider members, discussing Enterprise AI Adoption and Governance in Healthcare. The focus was on evaluating current AI applications within healthcare systems, discussing AI’s potential to enhance operational efficiency and patient care, and addressing the challenges of data governance and security. Damo Blog

Research Report: Enterprise AI Adoption and Governance in Healthcare Organizations

Our annual survey of the state of Enterprise AI Adoption and Governance in Healthcare Organizations, as part of our CHIME Foundation membership, is out! Download the Report. Damo Research and Insights

Books Corner

rohit book
Paddy Book

Other Stuff We’re Reading

AI Has a Revolutionary Ability to Parse Details. What Does That Mean for Business?

Humans have relied on generalizations forever as a mental shortcut — and a way of running a business efficiently. But just as advancements in AI are making it possible to move beyond a handful of customer personas to infinitely personalizable products and messaging, they are also revealing to us a broader world full of ever-changing unique detail. Weinberger, a technology philosopher, and Zanini, a business innovation strategist, show us four areas in which the particular is making itself known and used in business and in life: Strategy, talent management, leadership selection, and supply chain management. Business leaders who see this trend are better positioned to see new opportunities and make better decisions in all these areas. HBR

When Generative AI Meets Product Development

From ideation to user testing, large language models are allowing companies to explore more ideas and iterate faster. MIT Sloan Review

Digital Health Funding and M&A

Mental health benefits company Spring Health hits $3.3B valuation, boosted by $100M series E round

Spring Health, which offers digital mental health care and navigation services, pocketed $100 million in series E funding, bumping the company's valuation to $3.3 billion. That's up 32% from the company's $2.5 billion valuation just 15 months ago when it secured its series D round. FIERCE Healthcare

Jefferson Health, Lehigh Valley Health close merger

Jefferson Health and Lehigh Valley Health Network completed a merger Thursday that creates a $15 billion nonprofit health system serving Pennsylvania and New Jersey. Modern Healthcare

Fertility tracking app Flo Health raises $200M at a $1B+ valuation

Women’s health tech, which leverages innovations in AI, smartphones and connected wearables to give women more insights into reproductive and menstrual health, continues to gain momentum with users, and investors are following. TechCrunch

Note: Some of the articles linked in this newsletter may be behind paywalls that need a subscription.

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