The healthcare industry is facing consistent and increasing challenges in human capital and workforce management. Exacerbated by the pandemic, the continued challenges of increasing labor costs.
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Health system VC arms appear to have a lot more to offer to startups than traditional VC funds. Startup founders say that the tech pilots they launch with their health system partners end up being more effective because they are more incentive-aligned. For health systems, investing in a startup allows them to have a hand in shaping the tools they will eventually deploy across their enterprises to solve issues like burnout, payment delays and excessive hospital readmissions.
On New Year’s Day, two Missouri health systems St. Louis-based BJC HealthCare and Kansas City-based St. Luke’s Health System officially completed their merger. The combined health system comprises 28 hospitals and hundreds of clinics serving 6 million people, and it is expected to generate $10 billion in annual revenue.