Issue link: https://beckershealthcare.uberflip.com/i/1480884
53 HEALTHCARE NEWS 53 Michigan health system merges with Trinity Health By Ayla Ellison Grand Haven, Mich.-based North Ottawa Community Health System will join Livonia, Mich.-based Trinity Health on Oct. 1. e health system will be renamed Trinity Health Grand Haven and be part of Trinity Health Michigan. "is is an exciting day for Grand Haven and the lakeshore because it signifies the start of a new era of access to great local care well into the future," Trinity Health Michigan President and CEO Rob Casalou said in a Sept. 20 news release. "We are confident that with our history of serving together, we can continue to advance the choices available for high-quality specialty and primary care. We are looking forward to preserving a strong local health care presence as an integrated health system." North Ottawa Community Health includes an 81-bed hospital, long- term care facility, urgent care center and physician practices. e health system also offers hospice and palliative care services. n AI funding in healthcare through the years By Naomi Diaz A rtificial intelligence funding in healthcare is skyrocketing with more than $3 billion poured into the sector in the first half of 2022 and nearly $10 billion in 2021, Politico reported Aug. 15. Healthcare AI funding throughout the years: • 2011: $129.3 million • 2012: $103.4 million • 2013: $167.8 million • 2014: $598.7 million • 2015: $575.2 million • 2016: $993.2 million • 2017: $1.1 billion • 2018: $2.5 billion • 2019: $2.4 billion • 2020: $4.8 billion • 2021: $10 billion • First half of 2022: $3 billion According to Politico, the tech industry's continued investment in AI is because of the enthusiasm surrounding the potential of the technology to transform healthcare. n ChristianaCare, Prospect Medical Holdings cancel 4-hospital deal By Ayla Ellison C hristianaCare signed a letter of intent in February to acquire Crozer Health from Prospect Medical Holdings. The health systems announced Aug. 18 that the deal will not move forward. Wilmington, Del.-based ChristianaCare and Los Angeles- based Prospect Medical Holdings said significant changes in the economic landscape since the letter of intent was signed in February impacted the ability of the deal to move forward. "Both organizations worked very hard to reach a final agreement and have significant respect for each other, and remain committed to caring for the health of those in Delaware County," ChristianaCare and Prospect Medical Holdings said in a joint news release. Springfield, Pa.-based Crozer Health includes four hospitals and was acquired by Prospect Medical Holdings in 2016. n The downside of private equity for physicians By Patsy Newitt W hile private equity investment can provide stable funding and allow practices to be innovative, it may be incompatible with physician practice ethics and sustainability, the American Medical Association wrote in a blog post. The Aug. 1 post outlined a study in JAMA Internal Medicine that showed that physician management companies with private equity investment led to a rise in prices for anesthesia services for patients. Anesthesia service prices rose 26 percent for patients who used private equity-backed physician management companies, while prices at companies without private equity investment grew by 12.9 percent from 2012 to 2017. The post also cited a commentary from AMA President Jack Resneck, MD, published in JAMA Dermatology in which dermatologists reported a loss in physician control after being acquired by private equity firms. "While investors tout ongoing local decision-making, practices also may lose some control over staffing levels and capital equipment purchases," Dr. Resneck stated in the commentary. n