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A Quick Hospital View from SXSW

I’m in the middle of the arduous two-fer of HIMSS and then SXSW. I guess I should call this the year of the enormous conferences since I started the year at CES. The amazing thing is that healthcare is starting to have a larger and larger presence at CES and SXSW (of course it is HIMSS). I personally came to SXSW with a number of goals in mind. Although, I must admit that finding something interesting for hospitals was not really on that list.

Fast forward to yesterday when I was taking a brief moment in the blogger’s lounge to get off my feet, power up, and browse what was happening online. Across my Twitter stream came a tweet from one of my hospital colleagues that included the hashtag #sxsw. You can imagine my surprise. In fact, I thought for sure that she must have just been watching the SXSW proceedings from back at her Ohio home. I dropped her a message that I’d love to see her at SXSW if in fact she was at the show.

Well, I was wrong and she was indeed at the show. In fact, when I met with her I learned that not only was she at SXSW, but it was her second time attending. We joked about how amazing it was that she was able to get the travel/training approved for SXSW a second year. Of course, she tole me that she found a couple great ideas last year that they implemented, so it made the case for coming this year event better.

I actually talked with her about a new Physia product which we haven’t announced. Plus, I suggested she check out docBeat’s secure messaging for healthcare solution while she was at SXSW since she mentioned wanting a secure text message solution for their residents. So, even if she finds nothing else, I think she now has something interesting to take back to her hospital that she wouldn’t have seen if she wasn’t at SXSW.

I guess the leaders of SXSW were right when they said that you never know who you’re going to meet at SXSW. They call it serendipitous interactions. Obviously it was quite a surprise for me to meet this hospital connection in Austin when I live in Las Vegas and she lives in Ohio. I have a half dozen other interesting interactions that I would have never expected at SXSW. On the one hand the event is so large that you don’t know where to turn and what to do next. On the other hand it’s been a tremendous experience meeting and learning from people across the spectrum of life.

I’m not necessarily suggesting that every hospital needs to come to SXSW, but I’ve been surprised how even a healthcare IT nut like me could find much value at SXSW.

March 11, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

EMRs Snag Just One VC Investment Last Quarter

If you’re looking for signs that the EMR market is consolidating, especially on the small vendor/startup side, consider the following data and see what it tells you. To me, it suggests very clearly that the days of unbridled EMR startup growth are tailing off quickly.

According to a report by Mercom Capital Group, VC funding in the health IT sector was strong in Q3 2012, with $194 million going into 37 deals during the period.  This is the 5th quarter in a row that the dollars invested in HIT ventures has gone up, Mercom reports.

Health information management companies got the most funding in the sector ($101 million across 20 deals), dwarfing the $39 million sunk in mobile health and $26 million in social health networking companies.  That being said, EMRs only logged a single $1 million investment during the last quarter. Meanwhile, there were two EMR M&A transactions this quarter.

Far more interesting is the list of deals that were closed in other subsectors. For example, he top HIT VC funding deal in Q3 was $25.5 million raised by Telcare, a mobile health company using cellular machine-to-machine to manage chronic illnesses. Other deals included $20 million for Connecture, an online health insurance process automation company focused on health insurance exchanges and $13 million for eClinical technology provider Clinipace.

While it’s not exactly a set-game-match point to make, I’d argue that this data is instructive. VC money is migrating away to infrastructure plays, mHealth and social health networking, next-round investments which are likely to make the make the right investors a bundle.

Another way of putting this is that while we’re not seeing any signs that EMR vendors are outta luck, EMR startups aren’t the hot, sexy thing on the block any more. Could it be that we’re finally seeing the market mature and beginnings of M&A and business failures in some EMR sectors?  In a word I’d say, “yes.”

November 27, 2012 I Written By

Anne Zieger is veteran healthcare consultant and analyst with 20 years of industry experience. Zieger formerly served as editor-in-chief of FierceHealthcare.com and her commentaries have appeared in dozens of international business publications, including Forbes, Business Week and Information Week. She has also contributed content to hundreds of healthcare and health IT organizations, including several Fortune 500 companies.

My Surprise Breakfast with Epic CEO Judy Faulkner

One of the highlights of my experience at CHIME 2012 was a surprise breakfast that happened on the final day of CHIME. I actually was a touch late to breakfast after skipping out of a mostly empty room talking about HIPAA (imagine that on the last day of a conference). I got my breakfast and sat down at a table of what turned out to be mostly hospital CIOs.

Meals at CHIME turned out to be a great time to meet, connect and learn from the hospital CIOs that attended. A lively conversation was happening when a lady sat down next to me. I looked up and to my surprise the lady sitting next to me was none other than Judy Faulkner, CEO of Epic. I’m sure she had no idea who I was and I later realized that she likely sat next to me because on the other side of her was a hospital CIO she wanted to apologize to for something that had happened months before.

As an EHR blogger, I admit that I was probably a bit star struck sitting next to Judy. This was probably accentuated by the stigma (right or wrong) that Epic doesn’t like the media very much. So, I decided that rather than probe into Judy like a normal media person (I prefer to be a thought leader as much as I am a journalist anyway), I decided to just sit back and mostly listen.

It made for a really interesting experience since one of the first things Judy talked about was apologizing to this hospital CIO. I’m sure the cynics out there would say that she was probably apologizing because she wanted to further Epic’s business with that CIO. However, that wasn’t the impression I got from Judy. Instead, I got the impression that she had a real feeling of guilt that something she had done had caused other people some amount of trouble. In fact, how troubled she was by something most of us wouldn’t think twice about I think says something about Judy. I think some like to characterize her as a tough, driven, hard-nosed, business woman. Maybe she is in the boardroom, but my experience at breakfast was of her as a very thoughtful caring person.

When I told some of my colleagues about my experience with Judy, she told me I’d been seduced. Maybe she’s right. From my experience I saw a very kind, compassionate Judy.

I’ll wait to share all of the things I learned from my time with Judy for another time, but I did also have an interesting conversation with Judy about Twitter and social media. I think the conversation began because I playfully suggested that she should post whatever we were talking about to Twitter. I say playfully, because I was quite sure I’d never seen Judy on Twitter or any other social media and so I was interested to see her response. She responded something like, “I hope I live my whole life and never go on Twitter.”

While I was partially taken back by the sharpness of her response (Although, thinking back I shouldn’t have been surprised), I replied that “Twitter’s not about ‘what I ate today’ and that there was real value to engaging on Twitter.” To Judy’s credit, she then asked why I thought she should be on Twitter.

My response in the moment was pretty terrible. I told her about Twitter’s ability to “connect people.” While this is valuable to many people, the last thing that Judy wants in her position is more random people connecting with her. After giving such a lackluster response, I decided a broader answer I could have given would be, “Social media is about people and people are the most valuable asset in the world. Social media leverages people in amazingly powerful ways.”

That answer is still not perfect without examples and application, but at least the answer applies more broadly in a way that she could benefit from social media. After this experience, I asked myself if I was doing a keynote on healthcare social media, what would I say?

I’ve already come up with 21 ways to benefit from social media. I’ve also started creating a list of very specific examples of social media in healthcare. If you have more examples, I’d love to hear them in the comments. It only seems fitting that I’d use social media to help me put together this resource, right?

I’m still debating the best way to spread what I gather about healthcare social media, but I think it needs to happen. I still run into far too many people that think that social media is just about what you ate for lunch or your drunken pictures with friends. More people need to be informed about the amazing possibilities with healthcare social media. Plus, next time I happen upon breakfast with Judy Faulkner, I’ll have a much better answer for her.

October 29, 2012 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 5000 articles with John having written over 2000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 9.3 million times. John also recently launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.