Latest / Becker’s Healthcare Digital Health + Health IT / How the FTC's noncompete ban could affect Epic, Advocate to sell remote monitoring company it bought for $290M + more

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How the FTC's noncompete ban could affect Epic, Advocate to sell remote monitoring company it bought for $290M + more · Becker’s Healthcare Digital Health + Health IT

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  - This is Naomi Diaz
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  with the Becker's Digital Health Podcast.
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  Here's your daily industry news briefing
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  for today, April 29th.
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  First, answering patient inquiries is a predominant
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  application of large language model technology within
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  the healthcare industry.
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  An April 23rd survey from AI Healthcare Company,
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  John Snow Labs, found the company conducted the 2024 Gen AI
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  and Healthcare Survey with 304 participants.
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  The survey conducted from February 12th
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  through March 15th had 196 respondents employed
• 0:30
  by organizations actively involved in assessing, using,
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  or implementing gen AI technologies.
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  The survey revealed that the primary use
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  of gen AI technology in the healthcare industry was
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  addressing patient inquiries accounting
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  for 21% of instances.
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  Medical chat box constituted 20%
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  of applications while information extraction
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  and data abstraction compromised 19%.
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  Second, the Federal trade commission's recent non-compete
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  could affect the nation's largest EHR vendor.
• 0:59
  Wisconsin Public Radio reported
• 1:01
  former Epic employees told the news outlet
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  and wrote to the FTC
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  that the company's non-compete clauses have prevented them
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  from advancing their careers in healthcare and technology.
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  But the commission's April 23rd decision could do
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  away with those agreements.
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  At the EHR Giant, an Epic spokesperson told Becker's,
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  the company is reviewing the FTCs ban,
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  which is being challenged in court to determine its impact.
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  The vendor said its non-compete agreement applied
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  to a few dozen health tech companies.
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  In 2021 Epic's non-compete list included about 4,500
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  competitors and customers, including nine health systems.
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  The clause of health prevented health systems from vying
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  for four x epic staffers.
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  IT leaders have told Becker's.
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  It's definitely about people retention
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  and maybe people investment from an education standpoint
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  more than it is about, I think,
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  guarding any specific intellectual secret in our
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  intellectual property.
• 1:56
  A former Epic employee told WPR third
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  Advocate Aurora Health now a part of Advocate Health plans
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  to sell a remote patient monitoring.
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  Company Aid acquired for 290.7 million
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  in 2022.
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  The health system strategic investment arm Advocate,
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  Aurora Enterprises brought mobile help,
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  which provides medical alert
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  and fall detection technology planning to pair it
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  with an in-Home senior company, senior Helpers.
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  It purchased a year earlier for 187 million.
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  But Advocate Health,
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  the health system headquartered in Downers Grove, Illinois
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  and Milwaukee stated that it has since become part
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  of the larger Advocate health base in Charlotte,
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  North Carolina, and it intends to close a sale
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  of mobile help later this year.
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  Advocate already sold senior helpers
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  to a private equity firm in March.
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  The company's no longer fit the strategic
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  priorities of Advocate Health.
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  The report stated the health system has already accounted
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  for $150 million asset impairment write down related to it,
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  the expected loss on the sale of mobile
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  - Health.
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  According to the report, we remain committed
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  to investing in innovative health related companies
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  to advance healthcare transformation
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  and redefine patient care.
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  A health system spokesperson told Becker's.
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  We're focused on building relationships
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  and pur pursuing strategic investments that enable us
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  to remain nimble while strengthening our ability
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  to provide the safest and highest quality of care.
• 3:19
  The spokesperson continued.
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  If you'll like the latest health IT
• 3:23
  and digital health industry news delivered
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  to your inbox every morning, subscribe
• 3:26
  to the Becker's Health IT
• 3:28
  and CEO eNewsletter
• 3:29
  through our website at ww dot becker's hospital review.com.