3M, M*Modal customers relatively favorable toward acquisition deal, survey finds

Nearly half of hospitals and clinics think 3M's acquisition of M*Modal's technology business will positively affect their workflow, according to a Reaction Data survey.

In December 2018, 3M unveiled plans to acquire the technology arm of M*Modal, a provider of clinical documentation improvement tools. Under the deal, 3M said it would combine its clinical documentation capabilities with M*Modal's while maintaining a "strategic business relationship" with the M*Modal capabilities that it was not acquiring, such as the company's transcription, scribing and coding services.

To assess industry attitudes toward the acquisition, Reaction Data surveyed 180 health information management, imaging and clinical employees from hospitals and clinics in the U.S. Twenty-three percent of respondents were 3M customers, 31 percent were M*Modal customers and 27 percent were customers of both companies.

Less than half of all respondents (45 percent) were aware of the impending acquisition. Respondents who tended to be most aware of the deal included health information management employees (63 percent) and those who work at academic medical centers (54 percent). In general, M*Modal customers were more likely to be aware of the acquisition than 3M customers.

Forty-three percent of respondents said the acquisition likely would have a positive impact on their experience using the companies' products, while 12 percent said it likely would have a negative impact. The positive reactions were "well above the average" from Reaction Data's other studies on recent acquisitions, where typically only one-third of customers believed an acquisition would improve their experience, according to the report.

To download Reaction Data's survey, click here.

More articles on artificial intelligence:
Facebook backs AI ethics institute with $7.5M
Google: 5 AI concerns government, industry should discuss
Clinicians, developers must address these 3 concerns before using AI-enabled diagnostic support

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Content

Featured Webinars

Featured Whitepapers