Latest / Becker’s Healthcare Digital Health + Health IT / Oracle to launch new EHR system, Elon Musk solicits medical images for his AI chatbot + more

Transcript

Oracle to launch new EHR system, Elon Musk solicits medical images for his AI chatbot + more · Becker’s Healthcare Digital Health + Health IT

• 0:00
  This is Naomi Diaz with the Becker's Digital
• 0:02
  Health Podcast. Here's your daily industry news briefing
• 0:05
  for today, October 30th.
• 0:07
  First,
• 0:08
  health care organizations are investing heavily in their
• 0:11
  CIOs with 22% of CIOs now earning over
• 0:14
  $600,000
• 0:15
  annually.
• 0:16
  An October 29th report from Witkiefer found
• 0:20
  an executive search firm, Witkiefer,
• 0:23
  surveyed health care's chief information and digital officers
• 0:26
  to explore the scope, compensation,
• 0:29
  and more details pertaining to the role. Here
• 0:31
  are 8 things to know from the report.
• 0:34
  1st, 41% of CIOs earn annual salaries between
• 0:38
  $301,000
• 0:41
  $500,000.
• 0:43
  2, CIOs are seeing significant pay increases when
• 0:45
  moving into their new roles with 27%
• 0:48
  reporting a boost of over 20%
• 0:50
  in compensation.
• 0:52
  3, bonuses and long term incentives are also
• 0:55
  key components of CIO compensation with all CIOs
• 0:58
  eligible for bonuses and 68%
• 1:00
  qualifying for long term incentives or supplemental executive
• 1:04
  retirement plans.
• 1:05
  4, 28% of CIOs can earn bonus bonuses
• 1:09
  exceeding 30% of their base salaries.
• 1:11
  5, despite high turnover rates, 78% of CIOs
• 1:15
  report feeling satisfied in their roles with 38
• 1:17
  expressing strong satisfaction.
• 1:19
  6, while 41% of CIOs are required to
• 1:22
  reside near the office and work on-site full
• 1:25
  time, an equal portion, 44%,
• 1:27
  have moved to hybrid schedules working on-site only
• 1:30
  a few days per week. 7, only 39%
• 1:33
  of organizations currently have a CIO succession plan
• 1:36
  in place, and 36%
• 1:37
  are developing 1. 8, meanwhile, 25%
• 1:41
  lack any succession strategy.
• 1:44
  2nd,
• 1:45
  Elon Musk is seeking medical stands for his
• 1:48
  AI chatbot, Grok, to help improve the platform.
• 1:49
  The tech titan wrote October 29th on x,
• 1:51
  quote, try submitting X-ray,
• 1:54
  PET, MRI, or other medical images to Grok
• 1:56
  for
• 1:59
  analysis. This is still early stage, but it
• 2:01
  is already quite accurate and will become extremely
• 2:04
  good. Let us know where GROC gets it
• 2:06
  right or needs work, end quote.
• 2:08
  Miscar Musk found the company
• 2:10
  founded the company behind
• 2:11
  grokxai
• 2:12
  after departing OpenAI,
• 2:14
  the chat GPT developer he helped start in
• 2:16
  2015.
• 2:17
  While grok isn't the only AI that analyzes
• 2:20
  medical images, his crowdsourcing
• 2:22
  approach to its
• 2:24
  is unique.
• 2:25
  3rd,
• 2:26
  Oracle is releasing a new AI powered EHR
• 2:29
  system, CNBC reported October 29th.
• 2:32
  Oracle's new EHR system will come with cloud
• 2:34
  and AI features that make it simpler to
• 2:36
  use and set up according to the company.
• 2:38
  The system has no menus or drop down
• 2:40
  screens.
• 2:41
  Clinicians can find the information they need just
• 2:43
  by speaking. Oracle said it hopes this will
• 2:45
  reduce the time clinicians spend looking through records,
• 2:48
  freeing them up to focus more time on
• 2:50
  patient
• 2:50
  care. Seema Verma, executive vice president and general
• 2:53
  manager of Oracle Health and Life Sciences, told
• 2:56
  CNBC, quote, it's not just a scribe. It's
• 2:58
  not an assistant. It's almost like having your
• 3:00
  own resident, end quote. According to miss Verma,
• 3:03
  Oracle has been developing this new EHR since
• 3:06
  acquiring Cerner, but it was not created on
• 3:08
  Cerner's original platform.
• 3:10
  As a result, current Cerner users will need
• 3:12
  to decide if they want to switch over
• 3:13
  to the system.
• 3:14
  Oracle acquired Cerner for 28,400,000,000
• 3:17
  dollars in June 2023.
• 3:19
  Last year, Cerner contributed $5,900,000,000
• 3:22
  to Oracle's total revenue.
• 3:24
  Oracle's early adopter program for its new EHR
• 3:27
  will launch in 2025, and the company plans
• 3:29
  to collaborate with customers to identify and set
• 3:32
  up any customizations they require.
• 3:34
  Miss Verma said, quote, we see it as
• 3:36
  very disruptive to the market. Our EHR is
• 3:38
  going to solve a lot of long standing
• 3:40
  problems that we've had in health care, end
• 3:41
  quote. If you like the latest health IT
• 3:44
  and digital health industry news delivered to your
• 3:46
  inbox every morning, subscribe to the Becker CIO
• 3:48
  and health IT review enewsletter through our website
• 3:51
  at ww.beccarshospitalreview.com.