Over the next decade, Daryl Tol, president and CEO of HATCo and acting CEO of Summa Health, hopes to use technology and AI to ease workforce shortages, Akron Beacon Journal reported May 21.
Speaking at an Akron Roundtable event on May 21, Mr. Tol said HATCo, the healthcare transformation company backed by General Catalyst, chose Summa Health in Akron, Ohio, as a test case for redesigning the healthcare experience because of the system’s integrated insurance company and Akron’s diverse market conditions.
Mr. Tol said Akron was intentionally selected because transforming healthcare in a lower-growth market would make the effort more difficult and harder for the industry to ignore. He described Akron as a “real American market” with both significant resources and challenges.
Mr. Tol said the organization aims to simplify billing, improve the patient experience and reduce administrative burdens such as insurance preauthorizations. He added that AI could help alleviate physician and nurse shortages by allowing clinicians to spend more time on patient care and less time on administrative work.
He also said HATCo hopes to create a more unified healthcare interface for managing care and billing as part of its long-term transformation plans.
HATCo finalized its acquisition of Summa Health in October. According to the news outlet, Mr. Tol said the organization is focused on long-term healthcare transformation rather than short-term financial gains, adding that neither HATCo nor Summa Health has shareholders creating pressure for immediate returns.
Mr. Tol also said the acquisition marked the first time a venture capital firm purchased a hospital system. During the event, he questioned why healthcare costs continue to rise, why the consumer experience remains difficult and why clinicians continue to experience burnout.
In addition, Mr. Tol said HATCo is searching for a permanent CEO for Summa Health and plans to keep its headquarters local as it works to build trust within the community.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
