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Moving GI Data to the Cloud in the Era of Healthcare Consolidation
Technology is one of the biggest complexities and costs for physician practices. The cost of running efficient, effective and compliant medical practices has become challenging for solo practitioners, small groups and even large groups across the country, driving consolidation among specialists, including gastroenterologists.
According to PricewaterhouseCoopers, in the third quarter of 2017, there were 200-plus deals in the healthcare space for the 12th consecutive quarter and approximately 13 percent of the deals involved physician medical groups. The 28 deals among physician medical groups during the quarter represented approximately $1.3 billion, which shows a clear trend toward physician practice consolidation. As physician practices transition from one- and two-member groups to larger organizations with 20, 50 or 100-plus members, practices need more sophisticated technology to optimize workflows, capture data, standardize treatment and deliver better-quality care across all providers.
Proactive medical groups, such as Washington, D.C.-based Capital Digestive Care, are transitioning their organizations’ servers to cloud-based technology to save time and money and ultimately prepare for future growth. In early 2017, the contract for the group’s old servers was up for renegotiation, and the group realized it would need more server space as it continued to grow. The group could either replace or expand its server or in the alternative, transition to cloud-based technology; the answer was clear to Michael Weinstein, MD, President of Capital Digestive Care.
This article was sponsored by gMed, a Modernizing Medicine Company.