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The first healthcare GPO was established in 1910 by the Hospital Bureau of New York. For many decades, healthcare GPOs grew slowly in number, to only 10 in 1962. Medicare and Medicaid stimulated growth in the number of GPOs to 40 in 1974. That number tripled between 1974 and 1977.
By August 2014, MedAssets had become the largest GPO in the United States. [6] The company became publicly traded in 2007. [ 7 ] MedAssets expanded its services over time and offerings included cost and clinical resource management, purchasing and revenue cycle solutions, change management consulting, and data-driven analytic software.
In the early 2000s, Premier was a hospital buying group, pooling healthcare purchases to reduce prices. [3] In 2017, Premier acquired Stanson Health for $51.5 million and, in 2019, acquired Medpricer, a healthcare technology firm, for $35 million. [4]
In May 2011, the state of Vermont became the first state to pass legislation establishing a single-payer health care system. The legislation, known as Act 48, establishes health care in the state as a "human right" and lays the responsibility on the state to provide a health care system which best meets the needs of the citizens of Vermont.
Vizient Inc., based in Irving, Texas, is a corporation that serves over 5,000 not-for-profit health system members and their affiliates, including 1,360 acute care hospitals. Founded in 2016, it is a successor company to VHA, Inc. , founded in 1977 as a network of not-for-profit health care organizations working in clinical, financial, and ...
Optum, Inc. is an American healthcare company that provides technology services, ... In 2019, Optum's revenues surpassed $100 billion for the first time, growing by ...
Health information technology (HIT) is "the application of information processing involving both computer hardware and software that deals with the storage, retrieval, sharing, and use of health care information, health data, and knowledge for communication and decision making". [8]
Health technology is defined by the World Health Organization as the "application of organized knowledge and skills in the form of devices, medicines, vaccines, procedures, and systems developed to solve a health problem and improve quality of lives". [1]