Big moves from tech giants inside and outside of healthcare dominated headlines this month. From Amwell’s acquisition of two digital health startups to Google’s launch of a new interoperability platform, the second half of 2021 will be interesting to watch.
Forbes reported that Amwell is acquiring two digital health startups for a combined $320 million as the publicly traded telehealth company looks to expand its platform offerings beyond the Covid-fueled virtual care boom. The two companies—SilverCloud Health and Conversa Health—are part of Amwell’s strategy to work with patients along their entire care journey and not just limit the relationship to one-off virtual visits. From a strategy standpoint, the acquisitions seem necessary to compete with Teladoc and other rivals who are also trying to deliver more comprehensive services. Only time will tell if combining with these two particular companies will pay off.
Additionally, following Amazon’s announcement of its newly repackaged cloud services for health businesses, Google has introduced a new interoperability platform built off its Google Cloud Healthcare API that it’s sharing with limited private partners. The company says the offering is designed to give researchers and clinicians a more real-time, holistic view of patient records. You can get all the details from Healthcare IT News.
Lastly, U.S. hospitals and healthcare systems have been under such relentless cyberattacks in recent months that it is beginning to be a threat to their bottom lines, according to a new report from Fitch Ratings. “Attacks may hinder revenue generation and the ability to recover costs in a timely manner, particularly if they affect a hospital’s ability to bill patients when financial records are compromised or systems become locked,” the report said, adding that patient care may also begin to be impacted. Healthcare Dive has the full story.
That’s all for this month! Be sure to look out for my next newsletter in August.