Epic’s AI Early-Warning Health Tool Found Lacking: Yale Study
In a study published Tuesday, researchers found that AI algorithms used to predict the decline of patients are largely untested and don't always perform as well as expected. Included in this study was Epic Systems' algorithm, used widely during the covid pandemic, which did not fare well.
Stat:
Yale Tested 6 Early-Warning Algorithms Used By Health Systems. Epic's AI Tool Didn’t Fare Well
In the early days of the Covid-19 pandemic, hospitals were desperate for ways to manage the flood of seriously ill patients. Many turned to an artificial intelligence algorithm developed by Epic Systems, the electronic health record company, to predict which patients were most likely to rapidly deteriorate so they could get the critical care they needed. (Palmer, 10/15)
Crain's New York Business:
VC Interest In AI-Backed Healthcare Explodes In New York
There’s an adage in venture capital circles that a company will raise money as long as it slaps an “AI” sticker on its packaging. The trend is especially pronounced in healthcare, a sector that has struggled to automate its processes and is looking to make up for lost time. New York’s market for health-tech companies in the AI rush has exploded. As of October, venture capital investments in New York-based health companies using AI have already surpassed $1 billion, up from $670 million in all of 2023 and $530 million in 2022, according to the research firm PitchBook. (Geringer-Sameth, 10/14)
Modern Healthcare:
The Pressure Facing Future Digital Health IPOs
The celebratory pomp and circumstance of an initial public offering may not last long for digital health companies going public in 2025. As a potential new wave of digital health companies look to IPO in 2025, the weight of the sector will be on their shoulders. They will have to convince public investors that digital health companies can run durable, financially sound businesses, experts say. (Turner, 10/15)
Bloomberg:
UnitedHealth Sinks on Rare Miss as 2025 Outlook Disappoints
UnitedHealth Group Inc. shares plunged the most in four years on Tuesday after its forecasts for 2024 and 2025 fell short of investors’ expectations, a rare stumble for the health-care giant. The company hasn’t issued an early outlook that missed Wall Street’s view for years. The forecast reflects persistent hurdles, including rising medical expenses and stricter federal reimbursement rules that are cutting into revenue. (Tozzi, 10/15)
Also —
CBS News:
Health Care Workers Union Reaches Tentative Agreement With University Of Michigan Health
The Service Employees International Union Health Care Michigan (SEIU) Healthcare Michigan announced on Monday it had reached a tentative agreement with the University of Michigan Health, avoiding a work stoppage on Tuesday. The union did not provide details on the three-year agreement but said it allows "workers to move forward and keep their focus on taking care of Michiganders," according to a news release. (Booth-Singleton, 10/15)
