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Killexams : IBM Support health - BingNews https://killexams.com/pass4sure/exam-detail/000-N37 Search results Killexams : IBM Support health - BingNews https://killexams.com/pass4sure/exam-detail/000-N37 https://killexams.com/exam_list/IBM Killexams : IBM Bids Farewell to Watson Health Assets

IBM shook up the digital health space Friday with the news that it is selling its healthcare data and analytics assets, currently part of the Watson Health business, to an investment firm. The sale price is reportedly more than $1 billion, although the companies are not officially disclosing the financial terms.

There are a lot of interesting factors to consider as we unpack this news, although some thought leaders say the divestiture did not come as a surprise.

“The Watson Health sale has been anticipated for quite some time. IBM was clearly not gaining much traction in the healthcare market while others such as Google and Microsoft have pulled ahead. Even Oracle has made a big splash in healthcare with its recent announcement to acquire Cerner," said Paddy Padmanabhan, founder and CEO of Damo Consulting, a growth strategy and digital transformation advisory firm that works with healthcare and technology companies.

IBM was one of the first big tech companies to dive into healthcare with its well-known Watson Health supercomputer known for defeating the greatest champions on “Jeopardy!" The platform created a lot of buzz back in 2011, and many people had high hopes for the platform's potential applications in healthcare. In recent years, however, that buzz has significantly died down.

"In the current competitive landscape, IBM would not be considered a significant player in healthcare. Selling off the data assets essentially means an end to the Watson Health experiment; however, it may allow IBM as an organization to refocus and develop a new approach to healthcare,” Padmanabhan said.

Assuming there are no regulatory snags, the deal is expected to close in the second quarter of this year.

“Today’s agreement with Francisco Partners is a clear next step as IBM becomes even more focused on our platform-based hybrid cloud and AI strategy,” said Tom Rosamilia, senior vice president of IBM Software. “IBM remains committed to Watson, our broader AI business, and to the clients and partners we support in healthcare IT. Through this transaction, Francisco Partners acquires data and analytics assets that will benefit from the enhanced investment and expertise of a healthcare industry focused portfolio.”

The agreement calls for the current management team to continue in similar roles in the new standalone company, serving existing clients in life sciences, provider, imaging, payer and employer, and government health and human services sectors.

“We have followed IBM’s journey in healthcare data and analytics for a number of years and have a deep appreciation for its portfolio of innovative healthcare products,” said Ezra Perlman, co-president at Francisco Partners. “IBM built a market-leading team and provides its customers with mission critical products and outstanding service.”

In 2016 IBM doubled the size of its Watson Health business through the $2.6 billion acquisition of Truven Health Analytics. Truven offers healthcare data services targeted at employers, hospitals, and drug companies, and makes software that can parse through millions of patient records. Truven's main offices are in Ann Arbor, MI, Chicago, and Denver. At the time of the acquisition, Truven had around 2,500 employees.

The Truven deal followed other major healthcare acquisitions in the company, including Cleveland-based Explorys, Dallas-based Phytel, and Chicago-based Merge Healthcare. The company paid about $1 billion for Merge.

IBM said the assets acquired by Francisco Partners include extensive and diverse data sets and products, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software offerings.

Padmanabhan said it will be interesting to see how the new owners are able to leverage those data assets.

“IBM’s decision to sell its data assets is an indication that it’s not just enough to have the data. Applying advanced analytics on the data to generate insights that can make a difference in real-world applications is where the true value lies. IBM had several missteps early on, especially in cancer care applications, that created significant setbacks for the business that they could not recover from.

In 2018, the Watson Health business went through a round of layoffs. The company declined to tell MD+DI at the time how many of employees were let go other than to say it was a "small percentage" of the global business, but online commenters on TheLayoff.com and Watching IBM, along with multiple news reports citing unnamed sources from within the organization painted a different picture of the situation. One Dallas-based commenter on TheLayoff.com said that "we all knew it was coming but nobody expected it to be this fast and rampant," while another commenter estimated that 80% of that same Dallas-based office was let go.

Is healthcare just too hard for big tech?

While we have seen a trend in recent years with big tech firms showing an interest in healthcare, some of those companies are finding those efforts to be easier said than done. 
 
“IBM’s decision to sell the Watson Health assets is another instance of a big tech firm acknowledging the challenges of the healthcare space. Last year, Google and Apple had significant setbacks, and Amazon has acknowledged challenges in scaling its Amazon Care business," Padmanabhan said. "In IBM’s case, they have missed out on the cloud opportunity and have lagged behind peers in emerging technology areas such as voice. While IBM’s challenges with Watson Health may have been unique to the organization, the fact is that big tech firms have multiple irons in the fire at any time, and for some healthcare may just be too hard.”

Padmanabhan does not think, however, that IBM's decision to sell the Watson Health assets is an indictment of the promise of AI in healthcare.

"Our research indicates AI was one of the top technology investments for health systems in 2021," he said. "Sure, there are challenges such as data quality and bias in the application of AI in the healthcare context, but by and large there has been progress with AI in healthcare. The emergence of other players, notably Google with its Mayo Partnership, or Microsoft with its partnership with healthcare industry consortium Truveta are strong indicators of progress."
 
Padmanabhan is co-author with Edward W. Marx, of Healthcare Digital Transformation: How Consumerism, Technology and Pandemic are Accelerating the Future (2020), and the host of The Big Unlock, a podcast focusing on healthcare digital transformation.

Thu, 21 Jul 2022 12:00:00 -0500 en text/html https://www.designnews.com/industry/ibm-bids-farewell-watson-health-assets
Killexams : Medical Imaging, Powered by IBM

IBM Watson Health and Merge Healthcare are bringing new insights, made possible through artificial intelligence and cognitive computing, to medical imaging.

Dr. Tanveer Syeda-Mahmood developed a tool that uses IBM Watson Health technology to help clinicians detect heart disease. Syeda-Mahmood is an IBM Fellow and chief scientist of the Medical Sieve Radiology Grand Challenge Project at IBM Research.

Radiologists are about to get some help with their imaging workload.

IBM Watson Health and Merge Healthcare, an IBM Company, are showcasing new tools to help clinicians analyze medical images. The offerings use machine learning, artificial intelligence, and cognitive computing to offer additional information that can help tailor diagnosis and treatment decisions.

To deliver physicians a better understanding of the IBM technology, IBM Research is also conducting a live demonstration of the tools at the Radiological Society of North America Annual Meeting (RSNA) in Chicago, according to a press release.

The release notes that at least 90% of all medical data is images, according to IBM researchers' estimates, and that medical images are growing at the fastest rate of any type of medical data. Accuracy can suffer in the face of all these images that need to be analyzed, referenced, and compared by humans.

An oft-cited Johns Hopkins study published in 2013 revealed how frequently diagnostic errors happen and how devastating they can be. Researches estimated that 80,000-160,000 U.S. patients experience permanent injury or death related to misdiagnosis each year. 

"We designed this Watson-based demonstration to show physicians that soon they can navigate an abundance of digital data--structured and unstructured, text and images--and make informed decisions based on relevant and current information," Dr. Tanveer Syeda-Mahmood, an IBM Fellow and chief scientist of the Medical Sieve Radiology Grand Challenge Project at IBM Research, said in an IBM Research blog post. "More importantly, we can analyze a broad array of medical data and derive Watson-powered insights that are meaningful to doctors."

Syeda-Mahmood had a personal reason for her interest in using Watson to help analyze medical images. According to an IBM profile of the researcher, her father suffered a hemorrhagic stroke that was misdiagnosed as an ischemic stroke. He was given blood thinners as a result of this mistaken diagnosis. His condition worsened and he went into a coma. Happily, her father eventually recovered after medical repatriation to India and treatment there.

According to the blog post, that experience drove Syeda-Mahmood to research ways to enable more accurate diagnoses. 

At RSNA, Watson Health and Merge will both showcase new offerings, according to the press release. Watson Health will debut a cognitive peer review tool to clarify differences between a patient's health record and clinical evidence; a cognitive data summarization tool offering personalized patient information for interpretation, diagnosis, and treatment decisions; a cognitive physician support tool to enable personalized decisions using the entirety of patient data; and the MedyMatch "Brain Bleed" App to help diagnose a trauma patient with brain bleed or stroke.

The release also details the products Merge will show, including Marktation, a tool that enables faster image interpretation and will be used first in mammography; Watson Clinical Integration Module, a cloud application that radiologists can use to Boost efficiency and reduce errors; and the Lesion Segmentation and Tracking Module, to allow faster interpretation and reporting of comparison exams.

"Watson cognitive computing is ideally suited to support radiologists on their journey 'Beyond Imaging' to practices that address the needs of patient populations, deliver improved patient outcomes, and demonstrate real-world value," said Nancy Koenig, general manager of Merge Healthcare, in the release. "This week at RSNA, Merge is proud to unveil solutions for providers that enable the first steps on the cognitive care journey, addressing breast cancer, lung cancer, and trauma patients in the ER."     

[Image courtesy of IBM RESEARCH]

Sun, 24 Jul 2022 12:00:00 -0500 en text/html https://www.mddionline.com/radiological/medical-imaging-powered-ibm
Killexams : Welcome back, Watson

Earlier this year, IBM sold its Watson Health data assets to PE firm Francisco Partners, marking the end of its push to transform healthcare through artificial intelligence. Now Francisco Partners has spun off the Watson assets into a standalone firm, Merative.

The move is designed to bring the company’s health data offerings to providers and government entities as well as the life sciences businesses IBM originally targeted. The goal, the company said in a statement, is “to Boost healthcare delivery, decision-making and performance.”

The announcement comes on the heels of several trying years for IBM Watson, when the organization proved unable to deliver on many of its ambitious promises. For instance, STAT reported that IBM Watson wasn’t able to get its software to analyze patient medical records reliably.

That investigation found that several of IBM Watson’s customers ended their relationships with the company because it “never invested in the technology needed to do the job we were being asked to do,” a former IBM Watson employee told the publication.

Project Josephine, an effort to fix problems with its natural language processing offering, similarly fell short. Its failure prompted an executive exodus, including Dr. Andrew Norden (deputy chief health officer of Watson Health) and Dr. Patrick McNeillie (clinical lead of Watson for Genomics).

In some ways, Merative appears to represent an attempt to redeem those previous blunders – and resuscitate the reputation of what used to comprise IBM Watson.

On its website, Merative lists six main areas of work it plans to be involved in: clinical decision support, clinical development, enterprise imaging, healthcare analytics, social program management and real-world evidence. It also touts six product lines.

The company promises to bring “technology and expertise to clients across healthcare through industry-leading data and analytics solutions,” said Francisco Partners co-president Ezra Perlman and principal Justin Chen in a statement. “Our ownership will help Merative drive crucial focus in executing on organic and inorganic growth strategies.”

But whether Merative can fully realize the initial promise of IBM Watson is anyone’s guess.

“There is an enormous risk to our credibility as marketers when we drive hype cycles,” Hans Kaspersetz, Relevate Health Group chief innovation officer, told MM+M last year. “As we move into the next evolution of development around artificial intelligence and machine learning, it’s critical that we demand transparency into the research that supports it, into the data sets and training corpuses that are used, and into the algorithms so that we can ensure there’s not systemic or implicit bias and that we can reproduce the outcomes in a scientific way.”

Though Merative is distancing itself from IBM Watson’s troubles, the company isn’t hiding ties to its past. The company claims a “half-century of history” on its website, starting with IBM innovations from as early as 1973. The last item on the timeline? Merative’s birth in 2022.

Mon, 11 Jul 2022 09:23:00 -0500 en-US text/html https://www.mmm-online.com/home/channel/welcome-back-watson/
Killexams : Cyberattacks are raising health care costs

Presented by Bamboo Health

The Big Idea

The average cost of a data breach for a health care organization is more than $10 million, according to IBM’s annual Cost of Data Breach Report, which looked at the period from March 2021 to March 2022. That’s up 9.4 percent from the same timeframe a year earlier. Health care has had the highest breach-related damages for 12 consecutive years.

Last month, Ruth reported that chief information officers of health systems want help fighting off the hackers. Insurers won’t cover damages in some cases, and health systems complain they haven’t had enough support from government or law enforcement.

Across industries, a glaring 60 percent of organizations said they had to raise prices to cover the expense of a breach, and the regulatory compliance and legal costs can extend over years for those in health care.

According to the HHS Office of Civil Rights’ database, health care organizations have reported nearly twice as many breaches from January to mid-July as during the same period in 2021. And more than four in five organizations — not just those in health care — told IBM they’d experienced more than one successful attack.

High-tech defenses are helping. The IBM report says that organizations with security platforms that use artificial intelligence saw 55 percent lower breach costs than those without. Those with an active incident response team also spent less on the follow-up to a breach.

A June report from the Government Accountability Office, Congress’ watchdog arm, found that insurance companies are raising premiums for cybersecurity incidents and reducing how much they cover. Given the rising costs of cyberattacks and the decline in insurance coverage, the GAO suggested that the Treasury’s Federal Insurance Office and the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency assess whether a government insurance option is needed. Per the report, both agencies say they lack the data needed to make that assessment.

President Joe Biden signed legislation in March as part of the fiscal 2022 appropriations bill that may provide CISA with some data. The bill, by Gary Peters (D-Mich.), chair of the Senate Homeland Security and Governmental Affairs Committee, sets a schedule for reporting cyberattacks and ransomware payments.

Welcome back to Future Pulse, where we explore the convergence of health care and technology. Pharma bad boy Martin Shkreli is back! His latest venture is a Web3 drug discovery platform called Druglike. What can decentralization and crypto do for the pharma industry, you ask? We have no idea! Please send us your wrong answers only.

Share your news, tips and feedback with Ben at [email protected] or Ruth at [email protected] and follow us on Twitter for the latest @_BenLeonard_ and @RuthReader. Send tips securely through SecureDrop, Signal, Telegram or WhatsApp here.

Tweet of the Week

Washington Watch

TELEHEALTH VOTE TEED UP — The House is set to vote this week on a bill by Wyoming Republican Liz Cheney that would extend through the end of 2024 the telehealth flexibilities the Trump administration granted at the pandemic’s outset.

The legislation would require Medicare to continue reimbursing doctors for telehealth services from patients’ homes. Federally qualified health centers and rural health clinics would continue to enjoy their new freedom.

Many of the flexibilities are set to terminate five months after the end of the Covid-19 public health emergency, which is slated to expire in October unless HHS Secretary Xavier Becerra extends it for an 11th time.

What’s next: House Majority Leader Steny Hoyer has slated the Advancing Telehealth Beyond COVID–19 Act for a vote that could come as soon as today. It’s expected to pass, but the timeline for Senate consideration is unclear.

Process frustration: Some Republicans are irked because they say the vote short-circuits bipartisan negotiations to deliver a win to Cheney, who has become a Democratic ally for her work on the committee investigating the invasion of the Capitol by supporters of former President Donald Trump.

Republicans are likely to vote for it anyway, though they complain that the legislation doesn’t allow insurers to cover telehealth bills for people on high-deductible health plans before they hit their deductibles.

CHIPS BILL’S A WIN FOR MEDICAL DEVICES — On Tuesday, the Senate advanced legislation backed by medical device makers that would deliver more than $50 billion in subsidies to the domestic semiconductor industry.

Medical device makers buy only 1 percent of the world’s semiconductor chips, but that means they’ve had little leverage to bargain amid a pandemic-driven supply shortage. The chips are needed for devices, such as defibrillators and mammography systems.

AdvaMed, the medical device industry trade group, has lobbied for the legislation, which aims to decrease dependence on foreign manufacturers.

The legislation passed a procedural vote in the Senate Tuesday.

AdvaMed CEO Scott Whitaker told Future Pulse in a statement that the legislation will help shield the industry from future supply shocks by helping to maintain a U.S. manufacturing base.

Brian Sapp, chief technology officer at cancer treatment biotech company BrYet, also touted the billions in funding for research and development that could help startups and innovation.

But little can be done to alleviate the supply crunch in the short term.

The legislation, which the Senate is expected to pass as soon as Wednesday, would take at least a year or two to have an impact, given the lead time to build factories, said Morris Cohen, a professor emeritus of manufacturing and logistics at the University of Pennsylvania’s Wharton School.

ORACLE PROMISES FIX FOR VA SYSTEM — At a hearing last week, senators aired their displeasure with the Veterans Affairs Department’s problematic rollout of its new electronic health records system and its ballooning costs. The latest estimate, from the Institute for Defense Analyses, puts the bill at $50.8 billion over 28 years. The original price tag was $10 billion over 10 years.

When the system from contractor Cerner debuted at the VA’s Mann-Grandstaff VA Medical Center in Spokane, Wash., in 2020, staff complained that it sent mistaken prescriptions — potentially putting patients’ lives in danger.

A new report from the VA’s inspector general found 60 safety issues at Mann-Grandstaff.

Oracle, Cerner’s new corporate parent, said it will fix the issues and connect the system to the cloud. It will also foot the bill for the migration. The firm’s executive vice president, Mike Sicilia, expects improvements in the next six months.

Around the Nation

AMAZON IS BUYING ONE MEDICAL — The $3.9 billion deal still needs sign off from the Federal Trade Commission and Justice Department; however, antitrust lawyers don’t foresee an issue.

“The principal question is: Where can competition be limited here — that’s what the DOJ or FTC should be asking,” David Kully, a partner at law firm Holland & Knight who focuses on antitrust, told Future Pulse. “I don’t think Amazon’s acquisition of what is largely a primary care organization puts it in a position to be able to limit competition in any way.”

There’s been lots of commentary about what the deal means. It’s clear Amazon has ambitions to disrupt the health care marketplace.

Amazon has its own online pharmacy and a subsidiary drug packaging service, Pillpack. It also provides telemedicine through Amazon Care, works with a network of clinics for in-person care and has experimented with its own in-person clinics.

But that’s not all.

Amazon has built out its Echo device and Alexa voice assistant as a health tool. Hospitals like Northwell Health used the Echo to conduct virtual rounds with patients during the pandemic to preserve protective equipment and limit clinicians’ exposure to Covid-19. Alexa offers everything from health tips to telemedicine visits from Teladoc, a virtual health care company.

Separately, Amazon is moving health systems into the cloud and selling them on artificial intelligence.

The company has one final asset underestimated as a health tool: Amazon Fresh delivery and Whole Foods Market.

Organizations at the forefront of battling chronic diseases like obesity, diabetes and high blood pressure are heavily investing in food as medicine. Health and wellness provider Geisinger, for example, has a “food farmacy” where patients can get groceries for ten healthy meals. Between Amazon Fresh and Whole Foods, Amazon is primed to compete.

The Next Cures

ARTIFICIAL INTELLIGENCE COMBATS SEPSIS —  A trio of new studies has found that artificial intelligence implemented in five hospital systems could reduce mortality from sepsis, a reaction to the infection that’s a leading cause of death in hospitals.

“There are very few studies that have looked at genuine outcomes post-deployment of a model like this,” Steven Lin, executive medical director of Stanford’s Healthcare AI Applied Research team, told Ruth. “They looked at adoption and what actually made it work — not just that it did work, but how did it work.”

Bayesian Health scanned the records of nearly 600,000 patients across the hospitals for signs of infection. The studies showed that not only is Bayesian’s artificial intelligence good at finding potential sepsis, but it also doesn’t inundate doctors with false flags. Early detection was associated with reduced mortality by 18.2 percent.

What We're Clicking

Researchers tried to calculate the impact of health tech companies. It sent startups into a tizzy — Mohana Ravindranath, STAT

From CVS to Google, here are 20 health care executives to watch — Fierce Healthcare

From Cedar to Ro, here’s every digital-health startup that’s cut workers so far this year — Rebecca Torrence, Insider

Wed, 27 Jul 2022 02:00:00 -0500 en text/html https://www.politico.com/newsletters/future-pulse/2022/07/27/cyberattacks-are-raising-health-care-costs-00047977
Killexams : How IBM's Watson Could Disrupt Medical Imaging

Expect some major changes now that IBM is spending $1 billion to acquire Merge Healthcare, says IHS analyst Stephen Holloway.

Chris Newmarker

IBM and its Watson supercomputer are set to have a big impact on radiology and medical imaging once IBM's $1 billion purchase of Merge Healthcare closes, according to a new analyst report.

Chicago-based Merge Healthcare's medical imaging management platform is used at more than 7500 U.S. healthcare sites, as well as many of the world's  leading clinical research institutes and pharmaceutical firms. Stephen Holloway, associate director for IHS Inc., notes that the deal will deliver Watson access to more than a half billion medical images stored in Merge's enterprise archive storage platform.

The goal at IBM (Armonk, NY) is to enable Merge's customers to use the Watson Health Cloud to analyze and cross-reference medical images against a deep trove of lab results, electronic health records, genomic tests, clinical studies, and other health-related data sources. IBM officials think there is a desire in the healthcare field for such imaging analytics. According to IBM, radiologists in some hospital emergency rooms are presented with as many as 100,000 images a day.

Holloway lists three ways IBM's Watson could spur what he describes as a new era of radiology:

1. It could disrupt the dominance of medical imaging 'big guns.'

IBM represents a deep-pocketed entrant into a market that has been dominated by six companies--GE Healthcare, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems, Hitachi Medical, and Samsung. Most of these vendors already have their own radiology IT platforms that they've bundled with the hardware, Holloway says.

The arrival of image storage and management software vendors such as Merge and Lexmark Healthcare has already eroded traditional imaging vendor share in recent years. "If IBM can make Watson AI products for image analytics clinically relevant and seamlessly integrate these tools into the EMR, control of the radiology IT market will increasingly shift away from traditional radiology IT vendors. It may even force a departure of industrial medical imaging suppliers away from IT software all-together, as most do not have the big data or analytics capability to compete," Holloway says.

2. A radiologist versus artificial intelligence turf war?

In the short term, Watson will likely provide decision-support tools, similar to the computer aided diagnosis software for breast imaging that has assisted radiologist reporting. But in the long term, look out for Watson joining the dots by drawing on a wealth of other medical diagnostic information gathered from the health and medical record data of a huge population.

"If this happens, radiologists may increasingly find themselves redefining their role in care provision," Holloway says.

3. New ethical and legal issues        

Bringing artificial intelligence into healthcare could spark a whole host of ethical and legal issues, according to Holloway.

"Will AI decision-support tools remain just so, as decision support tool, or will over-time the judgement of physicians be called into question? With increasing electronic tracking of care management and metrics to ensure quality of care and drive efficiency, will reliance on such analytics override physician diagnosis?" Holloway says.

Watson's advice could even conceivably become evidence in a lawsuit against a physician over an incorrect diagnosis.

"What is certainly clear though, is that radiology will likely never be the same again," Holloway says.

Refresh your medical device industry knowledge at MEDevice San Diego, September 1-2, 2015.

Chris Newmarker is senior editor of Qmed and MPMN. Follow him on Twitter at @newmarker.

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Tue, 12 Jul 2022 12:00:00 -0500 en text/html https://www.mddionline.com/how-ibms-watson-could-disrupt-medical-imaging
Killexams : How Apple's Big Deal With IBM Hurts BlackBerry and Microsoft No result found, try new keyword!IBM will also offer AppleCare service and support to enterprise ... apps" -- which will target industries such as retail, health care, banking, travel and transportation, telecommunications ... Wed, 13 Jul 2022 12:00:00 -0500 en-us text/html https://www.thestreet.com/technology/how-apples-big-deal-with-ibm-hurts-blackberry-and-microsoft-12775648 Killexams : IBM RELEASES SECOND QUARTER RESULTS

Growth Across Key Segments Led by Hybrid Cloud Adoption; Solid Cash and Profit Generation

ARMONK, N.Y., July 18, 2022 /PRNewswire/ -- IBM (NYSE: IBM) today announced second-quarter 2022 earnings results.

IBM Corporation logo. (PRNewsfoto/IBM)

"In the quarter we delivered good revenue performance with balanced growth across our geographies, driven by client demand for our hybrid cloud and AI offerings. The IBM team executed our strategy well," said Arvind Krishna, IBM chairman and chief executive officer. "With our first half results, we continue to expect full-year revenue growth at the high end of our mid-single digit model."

Second-Quarter Highlights

  • Revenue
    - Revenue of $15.5 billion, up 9 percent, up 16 percent at constant currency (about 5 points from sales to Kyndryl)
    - Software revenue up 6 percent, up 12 percent at constant currency (about 7 points from sales to Kyndryl)
    - Consulting revenue up 10 percent, up 18 percent at constant currency
    - Infrastructure revenue up 19 percent, up 25 percent at constant currency (about 7 points from sales to Kyndryl)
    - Hybrid cloud revenue, over the last 12 months, of $21.7 billion, up 16 percent, up 19 percent at constant currency
  • Cash Flow
    - On a consolidated basis, year to date, net cash from operating activities of $4.6 billion; free cash flow of $3.3 billion 
SECOND QUARTER 2022 INCOME STATEMENT SUMMARY
Pre-tax 
Gross Pre-tax  Income  Net  Diluted 
Revenue Profit Income Margin Income EPS
GAAP from
Continuing
Operations
$ 15.5B $ 8.3B $ 1.7B 11.1 % $ 1.5B $ 1.61
    Year/Year 9 %* 6 % 89 % 4.7 Pts 81 % 79 %
Operating
(Non-GAAP)
$ 8.5B $ 2.5B 16.2 % $ 2.1B $ 2.31
    Year/Year 5 % 48 % 4.2 Pts 45 % 43 %
*16% at constant currency

"We are a faster-growing, focused, disciplined company with sound business fundamentals," said James Kavanaugh, IBM senior vice president and chief financial officer. "Our recurring revenue stream and solid cash generation position us well to continue to invest in R&D, acquire new companies, and strengthen our talent in every part of the business, while also returning value to shareholders through our dividend."

Segment Results for Second Quarter

  • Software (includes Hybrid Platform & Solutions, Transaction Processing)— revenues of $6.2 billion, up 6.4 percent, up 11.6 percent at constant currency (about 7 points from sales to Kyndryl):
    - Hybrid Platform & Solutions up 4 percent, up 9 percent at constant currency (about 1.5 points from sales to Kyndryl):
       -- Red Hat up 12 percent, up 17 percent at constant currency
       -- Automation up 4 percent, up 8 percent at constant currency
       -- Data & AI flat, up 4 percent at constant currency
       -- Security flat, up 5 percent at constant currency
    - Transaction Processing up 12 percent, up 19 percent at constant currency (about 22 points from sales to Kyndryl)
    - Software segment hybrid cloud revenue up 14 percent, up 18 percent at constant currency
  • Consulting (includes Business Transformation, Technology Consulting and Application Operations)— revenues of $4.8 billion, up 9.8 percent, up 17.8 percent at constant currency:
    - Business Transformation up 9 percent, up 16 percent at constant currency
    - Technology Consulting up 14 percent, up 23 percent at constant currency
    - Application Operations up 9 percent, up 17 percent at constant currency
    - Consulting segment hybrid cloud revenue up 20 percent, up 29 percent at constant currency
  • Infrastructure (includes Hybrid Infrastructure, Infrastructure Support)— revenues of $4.2 billion, up 19.0 percent, up 25.4 percent at constant currency (about 7 points from sales to Kyndryl):
    - Hybrid Infrastructure up 34 percent, up 41 percent at constant currency (about 7 points from sales to Kyndryl)
       -- IBM z Systems up 69 percent, up 77 percent at constant currency
       -- Distributed Infrastructure up 11 percent, up 17 percent at constant currency
    - Infrastructure Support down 2 percent, up 5 percent at constant currency (about 8 points from sales to Kyndryl)
    - Infrastructure segment hybrid cloud revenue up 24 percent, up 30 percent at constant currency
  • Financing (includes client and commercial financing)— revenues of $0.1 billion, down 29.9 percent, down 26.6 percent at constant currency

Cash Flow and Balance Sheet
On a consolidated basis, in the second quarter, the company generated net cash from operating activities of $1.3 billion or $2.6 billion excluding IBM Financing receivables. IBM's free cash flow was $2.1 billion. The company returned $1.5 billion to shareholders in dividends in the second quarter.

On a consolidated basis, for the first six months of the year, the company generated net cash from operating activities of $4.6 billion or $4.2 billion excluding IBM Financing receivables. IBM's free cash flow was $3.3 billion, which includes cash impacts from the company's structural actions initiated at the end of 2020.

IBM ended the second quarter with $7.8 billion of cash on hand (which includes marketable securities), up $0.2 billion from year-end 2021. Debt, including IBM Financing debt of $12.3 billion, totaled $50.3 billion, down $1.4 billion since the end of 2021.

Full-Year 2022 Expectations

  • Revenue growth: The company continues to expect constant currency revenue growth at the high end of its mid-single digit model. The company also expects an additional 3.5 point contribution from incremental sales to Kyndryl. At mid-July 2022 foreign exchange rates, currency is expected to be about a six-point headwind.
  • Free Cash Flow: The company now expects about $10 billion in consolidated free cash flow.

Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the company's current assumptions regarding future business and financial performance. These statements involve a number of risks, uncertainties and other factors that could cause genuine results to differ materially, including, but not limited to, the following: a downturn in economic environment and client spending budgets; a failure of the company's innovation initiatives; damage to the company's reputation; risks from investing in growth opportunities; failure of the company's intellectual property portfolio to prevent competitive offerings and the failure of the company to obtain necessary licenses; the company's ability to successfully manage acquisitions, alliances and dispositions, including integration challenges, failure to achieve objectives, the assumption of liabilities, and higher debt levels; fluctuations in financial results; impact of local legal, economic, political, health and other conditions; the company's failure to meet growth and productivity objectives; ineffective internal controls; the company's use of accounting estimates; impairment of the company's goodwill or amortizable intangible assets; the company's ability to attract and retain key employees and its reliance on critical skills; impacts of relationships with critical suppliers; product quality issues; impacts of business with government clients; reliance on third party distribution channels and ecosystems; cybersecurity and data privacy considerations; adverse effects related to climate change and environmental matters, tax matters; legal proceedings and investigatory risks; the company's pension plans; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; potential failure of the separation of Kyndryl Holdings, Inc. to qualify for tax-free treatment; risk factors related to IBM securities; and other risks, uncertainties and factors discussed in the company's Form 10-Qs, Form 10-K and in the company's other filings with the U.S. Securities and Exchange Commission or in materials incorporated therein by reference. Any forward-looking statement in this release speaks only as of the date on which it is made. Except as required by law, the company assumes no obligation to update or revise any forward-looking statements.

Presentation of Information in this Press Release
On November 3, 2021, IBM completed the separation of Kyndryl. Unless otherwise specified, results are presented on a continuing operations basis. All references to revenue impacts from sales to Kyndryl are incremental sales post-separation.

In an effort to provide investors with additional information regarding the company's results as determined by generally accepted accounting principles (GAAP), the company has also disclosed in this press release the following non-GAAP information, which management believes provides useful information to investors: 

IBM results —

  • adjusting for currency (i.e., at constant currency);
  • presenting operating (non-GAAP) earnings per share amounts and related income statement items;
  • consolidated free cash flow;
  • consolidated cash from operating activities excluding IBM Financing receivables;

The rationale for management's use of these non-GAAP measures is included in Exhibit 99.2 in the Form 8‑K that includes this press release and is being submitted today to the SEC.

Conference Call and Webcast
IBM's regular quarterly earnings conference call is scheduled to begin at 5:00 p.m. EDT, today. The Webcast may be accessed via a link at https://www.ibm.com/investor/events/earnings-2q22. Presentation charts will be available shortly before the Webcast.

Financial Results Below (certain amounts may not add due to use of rounded numbers; percentages presented are calculated from the underlying whole-dollar amounts).

Contact:       IBM
                    Sarah Meron, 347 891 1770
                    sarah.meron@ibm.com 
    
                    Tim Davidson, 914 844 7847
                    tfdavids@us.ibm.com  

 

INTERNATIONAL BUSINESS MACHINES CORPORATION COMPARATIVE FINANCIAL RESULTS (Unaudited; Dollars in millions except per share amounts)
Three Months Ended Six Months Ended
June 30,  June 30, 
2022 2021* 2022 2021*
REVENUE
Software $ 6,166 $ 5,795 $ 11,938 $ 10,933
Consulting 4,809 4,378 9,637 8,641
Infrastructure 4,235 3,560 7,453 6,853
Financing 146 209 300 417
Other 180 277 404 561
TOTAL REVENUE 15,535 14,218 29,732 27,405
GROSS PROFIT 8,290 7,852 15,625 14,879
GROSS PROFIT MARGIN
Software 79.2 % 79.7 % 79.0 % 78.8 %
Consulting 24.2 % 27.6 % 24.3 % 27.7 %
Infrastructure 53.8 % 57.1 % 52.4 % 56.7 %
Financing 35.3 % 29.9 % 36.5 % 32.7 %
TOTAL GROSS PROFIT MARGIN 53.4 % 55.2 % 52.6 % 54.3 %
EXPENSE AND OTHER INCOME
S,G&A 4,855 4,849 9,452 9,536
R,D&E 1,673 1,641 3,352 3,257
Intellectual property and custom development income (176) (133) (297) (278)
Other (income) and expense (81) 302 166 647
Interest expense 297 281 607 561
TOTAL EXPENSE AND OTHER INCOME 6,568 6,940 13,280 13,724
INCOME/(LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES 1,722 912 2,345 1,155
Pre-tax margin 11.1 % 6.4 % 7.9 % 4.2 %
Provision for/(Benefit from) income taxes 257 101 218 (58)
Effective tax rate 14.9 % 11.1 % 9.3 % (5.0) %
INCOME FROM CONTINUING OPERATIONS $ 1,465 $ 810 $ 2,127 $ 1,213
DISCONTINUED OPERATIONS
Income/(Loss) from discontinued operations, net of taxes (73) 515 (2) 1,067
NET INCOME $ 1,392 $ 1,325 $ 2,125 $ 2,280
EARNINGS/(LOSS) PER SHARE OF COMMON STOCK
Assuming Dilution
Continuing Operations $ 1.61 $ 0.90 $ 2.34 $ 1.34
Discontinued Operations $ (0.08) $ 0.57 $ 0.00 $ 1.18
TOTAL $ 1.53 $ 1.47 $ 2.34 $ 2.52
Basic
Continuing Operations $ 1.62 $ 0.91 $ 2.36 $ 1.36
Discontinued Operations $ (0.08) $ 0.57 $ 0.00 $ 1.19
TOTAL $ 1.54 $ 1.48 $ 2.36 $ 2.55
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (M's)
Assuming Dilution 910.7 904.2 910.0 903.0
Basic 901.5 895.0 900.4 894.3
____________________
* Recast to conform with 2022 presentation.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
At At
June 30,  December 31, 
(Dollars in Millions) 2022 2021
ASSETS:
Current Assets:
Cash and cash equivalents $ 7,034 $ 6,650
Restricted cash 220 307
Marketable securities 524 600
Notes and accounts receivable - trade, net 5,867 6,754
Short-term financing receivables, net 7,233 8,014
Other accounts receivable, net 909 1,002
Inventories 1,684 1,649
Deferred costs 1,010 1,097
Prepaid expenses and other current assets 3,414 3,466
Total Current Assets 27,896 29,539
Property, plant and equipment, net 5,275 5,694
Operating right-of-use assets, net 2,848 3,222
Long-term financing receivables, net 5,316 5,425
Prepaid pension assets 9,930 9,850
Deferred costs 865 924
Deferred taxes 7,073 7,370
Goodwill 55,039 55,643
Intangibles, net 11,571 12,511
Investments and sundry assets 1,689 1,823
Total Assets $ 127,503 $ 132,001
LIABILITIES:
Current Liabilities:
Taxes $ 1,742 $ 2,289
Short-term debt 5,981 6,787
Accounts payable 3,707 3,955
Deferred income 12,522 12,518
Operating lease liabilities 884 974
Other liabilities 7,008 7,097
Total Current Liabilities 31,844 33,619
Long-term debt 44,328 44,917
Retirement related obligations 13,118 14,435
Deferred income 3,069 3,577
Operating lease liabilities 2,182 2,462
Other liabilities 13,486 13,996
Total Liabilities 108,026 113,005
EQUITY:
IBM Stockholders' Equity:
Common stock 57,802 57,319
Retained earnings 153,298 154,209
Treasury stock — at cost (169,522) (169,392)
Accumulated other comprehensive income/(loss) (22,169) (23,234)
Total IBM Stockholders' Equity 19,409 18,901
Noncontrolling interests 67 95
Total Equity 19,476 18,996
Total Liabilities and Equity $ 127,503 $ 132,001

 

INTERNATIONAL BUSINESS MACHINES CORPORATION CASH FLOW ANALYSIS (Unaudited)
Trailing Twelve
Three Months Ended Six Months Ended Months Ended
June 30,  June 30,  June 30, 
(Dollars in Millions) 2022 2021 2022 2021 2022
Consolidated Net Cash from Operations per GAAP $ 1,321 $ 2,625 $ 4,569 $ 7,539 $ 9,826
Less: change in IBM Financing receivables (1,264) 900 367 3,763 511
Capital Expenditures, net (494) (688) (871) (1,217) (2,035)
Consolidated Free Cash Flow 2,091 1,037 3,331 2,559 7,279
Acquisitions (260) (1,747) (958) (2,866) (1,385)
Divestitures 1,207 (10) 1,268 (25) 1,408
Dividends (1,488) (1,467) (2,963) (2,924) (5,907)
Non-Financing Debt (2,934) (586) 1,740 (2,331) 2,880
Other (includes IBM Financing net receivables and debt) (1,607) (335) (2,197) (522) (4,661)
Change in Cash, Cash Equivalents, Restricted Cash and Short-term
Marketable Securities*
$ (2,991) $ (3,108) $ 221 $ (6,110) $ (387)
____________________
* Cash flows are presented on a consolidated basis. 

 

INTERNATIONAL BUSINESS MACHINES CORPORATION CASH FLOW (Unaudited)
Three Months Ended Six Months Ended
June 30,  June 30, 
(Dollars in Millions) 2022 2021 2022 2021
Net Income from Operations $ 1,392 $ 1,325 $ 2,125 $ 2,280
Depreciation/Amortization of Intangibles 1,245 1,680 2,501 3,352
Stock-based Compensation 254 243 488 457
Working Capital / Other (307) (1,524) (912) (2,313)
IBM Financing A/R (1,264) 900 367 3,763
Net Cash Provided by Operating Activities $ 1,321 $ 2,625 $ 4,569 $ 7,539
Capital Expenditures, net of payments & proceeds (494) (688) (871) (1,217)
Divestitures, net of cash transferred 1,207 (10) 1,268 (25)
Acquisitions, net of cash acquired (260) (1,747) (958) (2,866)
Marketable Securities / Other Investments, net (281) (227) (625) (562)
Net Cash Provided by/(Used in) Investing Activities $ 172 $ (2,671) $ (1,186) $ (4,671)
Debt, net of payments & proceeds (2,514) (1,500) 434 (5,799)
Dividends (1,488) (1,467) (2,963) (2,924)
Financing - Other (195) (163) (290) (190)
Net Cash Provided by/(Used in) Financing Activities $ (4,197) $ (3,131) $ (2,819) $ (8,914)
Effect of Exchange Rate changes on Cash (262) 69 (267) (65)
Net Change in Cash, Cash Equivalents and Restricted Cash* $ (2,965) $ (3,108) $ 297 $ (6,110)
____________________
* Cash flows are presented on a consolidated basis. 

 

INTERNATIONAL BUSINESS MACHINES CORPORATION SEGMENT DATA (Unaudited)
Three Months Ended June 30, 2022
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 6,166 $ 4,809 $ 4,235 $ 146
Pre-tax Income/(Loss) from Continuing Operations $ 1,375 $ 343 $ 757 $ 102
Pre-tax Margin 22.3 % 7.1 % 17.9 % 69.7 %
Change YTY Revenue 6.4 % 9.8 % 19.0 % (29.9) %
Change YTY Revenue - constant currency 11.6 % 17.8 % 25.4 % (26.6) %
Three Months Ended June 30, 2021*
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 5,795 $ 4,378 $ 3,560 $ 209
Pre-tax Income/(Loss) from Continuing Operations $ 1,059 $ 270 $ 489 $ 131
Pre-tax Margin 18.3 % 6.2 % 13.7 % 63.0 %
____________________
* Recast to conform with 2022 presentation. 
Six Months Ended June 30, 2022
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 11,938 $ 9,637 $ 7,453 $ 300
Pre-tax Income/(Loss) from Continuing Operations $ 2,509 $ 691 $ 956 $ 186
Pre-tax Margin 21.0 % 7.2 % 12.8 % 62.0 %
Change YTY Revenue 9.2 % 11.5 % 8.8 % (28.0) %
Change YTY Revenue - constant currency 13.4 % 17.6 % 13.4 % (25.5) %
Six Months Ended June 30, 2021*
(Dollars in Millions) Software Consulting Infrastructure Financing
Revenue $ 10,933 $ 8,641 $ 6,853 $ 417
Pre-tax Income/(Loss) from Continuing Operations $ 1,717 $ 547 $ 780 $ 229
Pre-tax Margin 15.7 % 6.3 % 11.4 % 55.0 %
____________________
* Recast to conform with 2022 presentation.

 

INTERNATIONAL BUSINESS MACHINES CORPORATION U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION (Unaudited; Dollars in millions except per share amounts)
Three Months Ended June 30, 2022
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 8,290 $ 180 $ $ $ $ 8,470
Gross Profit Margin 53.4 % 1.2  pts.    pts.    pts.    pts.   54.5 %
S,G&A $ 4,855 $ (279) $ $ $ (0) $ 4,576
Other (Income) & Expense (81) (1) (192) (145) (418)
Total Expense & Other (Income) 6,568 (280) (192) (145) 5,952
Pre-tax Income from Continuing 1,722 460 192 145 2,518
Pre-tax Income Margin from 11.1 % 3.0  pts.   1.2  pts.    pts.   0.9  pts.   16.2 %
Provision for/(Benefit from) Income $ 257 $ 115 $ 46 $ (4) $ $ 413
Effective Tax Rate 14.9 % 1.8  pts.   0.7  pts.   (0.2)  pts.   (0.9)  pts.   16.4 %
Income from Continuing Operations $ 1,465 $ 345 $ 146 $ 4 $ 145 $ 2,105
Income Margin from Continuing 9.4 % 2.2  pts.   0.9  pts.   0.0  pts.   0.9  pts.   13.5 %
Diluted Earnings/(Loss) Per Share: $ 1.61 $ 0.38 $ 0.16 $ 0.00 $ 0.16 $ 2.31
Three Months Ended June 30, 2021
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 7,852 $ 179 $ $ $ $ 8,031
Gross Profit Margin 55.2 % 1.3  pts.    pts.    pts.    pts.   56.5 %
S,G&A $ 4,849 $ (294) $ $ $ $ 4,555
Other (Income) & Expense 302 (1) (317) (16)
Total Expense & Other (Income) 6,940 (294) (317) 6,329
Pre-tax Income/(Loss) from Continuing 912 474 317 1,702
Pre-tax Income Margin from 6.4 % 3.3  pts.   2.2  pts.    pts.    pts.   12.0 %
Provision for/(Benefit from) Income $ 101 $ 105 $ 53 $ (14) $ $ 246
Effective Tax Rate 11.1 % 3.1  pts.   1.0  pts.   (0.8)  pts.    pts.   14.5 %
Income from Continuing Operations $ 810 $ 368 $ 264 $ 14 $ $ 1,456
Income Margin from Continuing 5.7 % 2.6  pts.   1.9  pts.   0.1  pts.    pts.   10.2 %
Diluted Earnings/(Loss) Per Share: $ 0.90 $ 0.41 $ 0.29 $ 0.01 $ $ 1.61
____________________
(1)  Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related to acquisition
(2)  Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan curtailments/
(3)  Primarily relates to the fair value changes in the retained Kyndryl common stock and the related cash-settled swap.
(4)  Tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to the As Reported pre-tax

 

INTERNATIONAL BUSINESS MACHINES CORPORATION U.S. GAAP TO OPERATING (Non-GAAP) RESULTS RECONCILIATION (Unaudited; Dollars in millions except per share amounts)
Six Months Ended June 30, 2022
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 15,625 $ 361 $ $ $ $ 15,986
Gross Profit Margin 52.6 % 1.2  pts.    pts.    pts.    pts.   53.8 %
S,G&A $ 9,452 $ (565) $ $ $ (0) $ 8,887
Other (Income) & Expense 166 (1) (394) (367) (596)
Total Expense & Other (Income) 13,280 (566) (394) (367) 11,953
Pre-tax Income from Continuing 2,345 928 394 367 4,033
Pre-tax Income Margin from 7.9 % 3.1  pts.   1.3  pts.    pts.   1.2  pts.   13.6 %
Provision for/(Benefit from) Income $ 218 $ 224 $ 104 $ 112 $ $ 657
Effective Tax Rate 9.3 % 3.4  pts.   1.7  pts.   2.8  pts.   (0.8)  pts.   16.3 %
Income from Continuing Operations $ 2,127 $ 704 $ 290 $ (112) $ 367 $ 3,376
Income Margin from Continuing 7.2 % 2.4  pts.   1.0  pts.   (0.4)  pts.   1.2  pts.   11.4 %
Diluted Earnings/(Loss) Per Share: $ 2.34 $ 0.77 $ 0.32 $ (0.12) $ 0.40 $ 3.71
Six Months Ended June 30, 2021
Continuing Operations
Acquisition- Retirement- Tax Kyndryl-
Related Related Reform Related Operating
GAAP Adjustments Adjustments Impacts Impacts (Non-GAAP)
Gross Profit $ 14,879 $ 353 $ $ $ $ 15,232
Gross Profit Margin 54.3 % 1.3  pts.    pts.    pts.    pts.   55.6 %
S,G&A $ 9,536 $ (582) $ $ $ $ 8,954
Other (Income) & Expense 647 (1) (649) (3)
Total Expense & Other (Income) 13,724 (583) (649) 12,491
Pre-tax Income from Continuing 1,155 936 649 2,741
Pre-tax Income Margin from 4.2 % 3.4  pts.   2.4  pts.    pts.    pts.   10.0 %
Provision for/(Benefit from) Income $ (58) $ 238 $ 86 $ 6 $ $ 272
Effective Tax Rate (5.0) % 10.4  pts.   4.3  pts.   0.2  pts.    pts.   9.9 %
Income from Continuing Operations $ 1,213 $ 699 $ 563 $ (6) $ $ 2,469
Income Margin from Continuing 4.4 % 2.5  pts.   2.1  pts.   (0.0)  pts.    pts.   9.0 %
Diluted Earnings/(Loss) Per Share: $ 1.34 $ 0.77 $ 0.62 $ (0.01) $ $ 2.73
____________________
(1)  Includes amortization of purchased intangible assets, in process R&D, transaction costs, applicable restructuring and related expenses, tax charges related
(2)  Includes amortization of prior service costs, interest cost, expected return on plan assets, amortized actuarial gains/losses, the impacts of any plan
(3)  Primarily relates to the fair value changes in the retained Kyndryl common stock and the related cash-settled swap.
(4)  Tax impact on operating (non-GAAP) pre-tax income from continuing operations is calculated under the same accounting principles applied to the As

 

 

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Mon, 18 Jul 2022 08:10:00 -0500 en text/html https://markets.businessinsider.com/news/stocks/ibm-releases-second-quarter-results-1031594969
Killexams : Incidence, Mortality, Costs Increased Among Medicaid Patients With NVHAP

A recent study calculated the incidence and mortality rates for patients with Medicaid coverage who had nonventilator hospital-acquired pneumonia (NVHAP) and found possible associations between greater health care costs and NVHAP diagnosis.

Although efforts have reduced the rates of many hospital-acquired infections (HAI), similar effort has not seen toward decreasing rates of nonventilator hospital-acquired pneumonia (NVHAP), despite NVHAP’s correlation with substantial mortality and health care costs for patients in acute care.

Published in American Journal of Infection Control, study results revealed an NVHAP incidence of 2.63 per 1000 patient-days, a 7.76% morality rate, and $20,189 in additional costs over a 5-year period for patients with NVHAP who have Medicaid coverage.

An inpatient NVHAP diagnosis was defined as a pneumonia diagnosis 48 hours or more after admission to a hospital. Pneumonia must not have been present at the time of admission nor associated with mechanical ventilation.

Inpatient and outpatient medical care, dental services, and administrative claims data were collected from the IBM Watson MarketScan Medicaid Database across 13 states. This study included all Medicaid beneficiaries admitted to a hospital at some point between 2015 and 2019.

From 2015 to 2019, 75,909 of 5,668,417 Medicaid beneficiaries were given an NVHAP diagnosis, which translated into the overall NVHAP incidence of 2.63 per 1000 patient-days.

Patients aged 45 to 64 years made up 19.1% of the study trial but had the highest NVHAP incidence of 5.18 per 1000 patient-days. A slightly lower NVHAP incidence of 4.47 per 1000 patient-days was found in patients 65 years or older. Patients aged 0 to 17 years had the lowest NVHAP incidence of 0.71 per 1000 patient-days. These data suggest that younger patients are at risk for NVHAP although they are not generally thought to be, the researchers noted.

In addition, male patients had a higher NVHAP incidence compared with female patients, despite the study including about twice as many women (n = 3,625,421) as men (n = 1,971,500). The NVHAP incidence for males was 3.1 per 1000 patient-days vs 2.32 among females.

The overall NVHAP 5-year mortality rate (from 2015 to 2019) was 7.76%. By age, the highest mortality rates were 9.39%, which was seen among patients 65 years or older, and 8.64% found in patients aged 45 to 64 years.

After a diagnosis of NVHAP, total health care costs as a percentage of total NVHAP encounters increased by 28.8%. Costs as a percentage of total inpatient costs increased by 14.6%.

A limitation of this study is that variable accuracy could not be confirmed because of the use of administrative claims data and diagnostic-related group codes to verify pneumonia diagnoses. The researchers also noted that a pneumonia diagnosis is not always straightforward. In addition, study results are not generalizable to populations beyond Medicaid beneficiaries. As the results of this study are purely descriptive, interpretations of these findings are limited.

“These NVHAP incidence and cost findings are consistent with previous research, providing further support that NVHAP prevention in the United States health care system is a critical patient safety issue,” the researchers concluded.

Reference

Giuliano KK, Baker D, Thakkar-Samtani M, Scannapieco FA, Heaton LJ, Frantsve-Hawley J. Incidence, mortality, and cost trends in nonventilator hospital-acquired pneumonia in Medicaid beneficiaries, 2015-2019. Am J Infect Control. Published online June 19, 2022. doi:10.1016/j.ajic.2022.06.016

Wed, 03 Aug 2022 00:17:00 -0500 Alisha Lekh en text/html https://www.ajmc.com/view/incidence-mortality-costs-increased-among-medicaid-patients-with-nvhap
Killexams : IBM report: Middle Eastern consumers pay the price as regional data breach costs reach all-time high

Riyadh, Saudi Arabia: IBM, the leading global technology company, has published a study highlighting the importance of cybersecurity in an increasingly digital age. According to IBM Security’s annual Cost of a Data Breach Report,  the Middle East has incurred losses of SAR 28 million from data breaches  in 2022 alone — this figure already exceeding the total amount of losses accrued in each of the last eight years. 

The latest edition of the Cost of a Data Breach Report — now in its 17th year — reveals costlier and higher-impact data breaches than ever before. As outlined by the study, the global average cost of a data breach has reached an all-time high of $4.35 million for surveyed organizations. With breach costs increasing nearly 13% over the last two years of the report, the findings suggest these incidents may also be contributing to rising costs of goods and services. In fact, 60% of studied organizations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues.

Notably, the report ranks the Middle East2 among the top five countries and regions for the highest average cost of a data breach. As per the study, the average total cost of a data breach in the Middle East amounted to SAR 28 million in 2022, the region being second only to the United States on the list. The report also spotlights the industries across the Middle East that have suffered the highest per-record costs in millions; the financial (SAR 1,039), health (SAR 991) and energy (SAR 950) sectors taking first, second and third spot, respectively.    

Fahad Alanazi, IBM Saudi General Manager, said: “Today, more so than ever, in an increasingly connected and digital age, cybersecurity is of the utmost importance. It is essential to safeguard businesses and privacy. As the digital economy continues to evolve, enhanced security will be the marker of a modern, world class digital ecosystem.” 

He continued: “At IBM, we take great pride in enabling the people, businesses and communities we serve to fulfil their potential by empowering them with state-of-the-art services and support. Our findings reiterate just how important it is for us, as a technology leader, to continue pioneering solutions that will help the Kingdom distinguish itself as the tech capital of the region.”

The perpetuality of cyberattacks is also shedding light on the “haunting effect” data breaches are having on businesses, with the IBM report finding 83% of studied organizations have experienced more than one data breach in their lifetime. Another factor rising over time is the after-effects of breaches on these organizations, which linger long after they occur, as nearly 50% of breach costs are incurred more than a year after the breach.

The 2022 Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches experienced by 550 organizations globally between March 2021 and March 2022. The research, which was sponsored and analyzed by IBM Security, was conducted by the Ponemon Institute.

Some of the key global findings in the 2022 IBM report include:

  • Critical Infrastructure Lags in Zero Trust – Almost 80% of critical infrastructure organizations studied don’t adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do. All while 28% breaches amongst these organizations were ransomware or destructive attacks.
  • It Doesn’t Pay to Pay – Ransomware victims in the study that opted to pay threat actors’ ransom demands saw only $610,000 less in average breach costs compared to those that chose not to pay – not including the cost of the ransom. Factoring in the high cost of ransom payments, the financial toll may rise even higher, suggesting that simply paying the ransom may not be an effective strategy.
  • Security Immaturity in Clouds – Forty-three percent of studied organizations are in the early stages or have not started applying security practices across their cloud environments, observing over $660,000 on average in higher breach costs than studied organizations with mature security across their cloud environments. 
  • Security AI and Automation Leads as Multi-Million Dollar Cost Saver – Participating organizations fully deploying security AI and automation incurred $3.05 million less on average in breach costs compared to studied organizations that have not deployed the technology – the biggest cost saver observed in the study.

“Businesses need to put their security defenses on the offense and beat attackers to the punch. It’s time to stop the adversary from achieving their objectives and start to minimize the impact of attacks. The more businesses try to perfect their perimeter instead of investing in detection and response, the more breaches can fuel cost of living increases.” said Charles Henderson, Global Head of IBM Security X-Force. “This report shows that the right strategies coupled with the right technologies can help make all the difference when businesses are attacked.”

Over-trusting Critical Infrastructure Organizations 

Concerns over critical infrastructure targeting appear to be increasing globally over the past year, with many governments’ cybersecurity agencies urging vigilance against disruptive attacks. In fact, IBM’s report reveals that ransomware and destructive attacks represented 28% of breaches amongst critical infrastructure organizations studied, highlighting how threat actors are seeking to fracture the global supply chains that rely on these organizations. This includes financial services, industrial, transportation and healthcare companies amongst others.

Despite the call for caution, and a year after the Biden Administration issued a cybersecurity executive order that centers around the importance of adopting a zero trust approach to strengthen the nation’s cybersecurity, only 21% of critical infrastructure organizations studied adopt a zero trust security model, according to the report. Add to that, 17% of breaches at critical infrastructure organizations were caused due to a business partner being initially compromised, highlighting the security risks that over-trusting environments pose.

Businesses that Pay the Ransom Aren’t Getting a “Bargain” 

According to the 2022 IBM report, businesses that paid threat actors’ ransom demands saw $610,000 less in average breach costs compared to those that chose not to pay – not including the ransom amount paid. However, when accounting for the average ransom payment, which according to Sophos reached $812,000 in 2021, businesses that opt to pay the ransom could net higher total costs - all while inadvertently funding future ransomware attacks with capital that could be allocated to remediation and recovery efforts and looking at potential federal offenses.

The persistence of ransomware, despite significant global efforts to impede it, is fueled by the industrialization of cybercrime. IBM Security X-Force discovered the duration of studied enterprise ransomware attacks shows a drop of 94% over the past three years – from over two months to just under four days. These exponentially shorter attack lifecycles can prompt higher impact attacks, as cybersecurity incident responders are left with very short windows of opportunity to detect and contain attacks. With “time to ransom” dropping to a matter of hours, it's essential that businesses prioritize rigorous testing of incident response (IR) playbooks ahead of time. But the report states that as many as 37% of organizations studied that have incident response plans don’t test them regularly.

Hybrid Cloud Advantage

The report also showcased hybrid cloud environments as the most prevalent (45%) infrastructure amongst organizations studied. Averaging $3.8 million in breach costs, businesses that adopted a hybrid cloud model observed lower breach costs compared to businesses with a solely public or private cloud model, which experienced $5.02 million and $4.24 million on average respectively. In fact, hybrid cloud adopters studied were able to identify and contain data breaches 15 days faster on average than the global average of 277 days for participants.

The report highlights that 45% of studied breaches occurred in the cloud, emphasizing the importance of cloud security. However, a significant 43% of reporting organizations stated they are just in the early stages or have not started implementing security practices to protect their cloud environments, observing higher breach costs3 . Businesses studied that did not implement security practices across their cloud environments required an average 108 more days to identify and contain a data breach than those consistently applying security practices across all their domains. 

Additional findings in the 2022 IBM report include:

  • Phishing Becomes Costliest Breach Cause – While compromised credentials continued to reign as the most common cause of a breach (19%), phishing was the second (16%) and the costliest cause, leading to $4.91 million in average breach costs for responding organizations.
  • Healthcare Breach Costs Hit Double Digits for First Time Ever– For the 12th year in a row, healthcare participants saw the costliest breaches amongst industries with average breach costs in healthcare increasing by nearly $1 million to reach a record high of $10.1 million.
  • Insufficient Security Staffing – Sixty-two percent of studied organizations stated they are not sufficiently staffed to meet their security needs, averaging $550,000 more in breach costs than those that state they are sufficiently staffed.

Additional Sources

  • To download a copy of the 2022 Cost of a Data Breach Report, please visit: https://www.ibm.com/security/data-breach. 
  • Read more about the report’s top findings in this IBM Security Intelligence blog.
  • Sign up for the 2022 IBM Security Cost of a Data Breach webinar on Wednesday, August 3, 2022, at 11:00 a.m. ET here.
  • Connect with the IBM Security X-Force team for a personalized review of the findings: https://ibm.biz/book-a-consult.

-Ends-

About IBM Security

IBM Security offers one of the most advanced and integrated portfolios of enterprise security products and services. The portfolio, supported by world-renowned IBM Security X-Force® research, enables organizations to effectively manage risk and defend against emerging threats. IBM operates one of the world's broadest security research, development, and delivery organizations, monitors 150 billion+ security events per day in more than 130 countries, and has been granted more than 10,000 security patents worldwide. For more information, please check www.ibm.com/security, follow @IBMSecurity on Twitter or visit the IBM Security Intelligence blog.

Wed, 27 Jul 2022 22:20:00 -0500 en text/html https://www.zawya.com/en/press-release/research-and-studies/ibm-report-middle-eastern-consumers-pay-the-price-as-regional-data-breach-costs-reach-all-time-high-q1wbuec0
Killexams : Do International Business Machines Corporation (IBM) beta value of 0.86 signposts another twist?

Let’s start up with the current stock price of International Business Machines Corporation (IBM), which is $132.04 to be very precise. The Stock rose vividly during the last session to $132.70 after opening rate of $130.75 while the lowest price it went was recorded $130.70 before closing at $130.79.Recently in News on July 27, 2022, IBM Report: Consumers Pay the Price as Data Breach Costs Reach All-Time High. 60% of breached businesses raised product prices post-breach; vast majority of critical infrastructure lagging in zero trust adoption; $550,000 in extra costs for insufficiently staffed businesses. You can read further details here

International Business Machines Corporation had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $144.73 on 06/06/22, with the lowest value was $118.81 for the same time period, recorded on 02/24/22.

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International Business Machines Corporation (IBM) full year performance was -1.93%

Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, International Business Machines Corporation shares are logging -8.77% during the 52-week period from high price, and 15.26% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $114.56 and $144.73.

The company’s shares, operating in the sector of Technology managed to top a trading volume set approximately around 4126778 for the day, which was evidently lower, when compared to the average daily volumes of the shares.

When it comes to the year-to-date metrics, the International Business Machines Corporation (IBM) recorded performance in the market was -1.21%, having the revenues showcasing -0.13% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 117.73B, as it employees total of 307600 workers.

Specialists analysis on International Business Machines Corporation (IBM)

During the last month, 0 analysts gave the International Business Machines Corporation a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.

According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 133.74, with a change in the price was noted +6.36. In a similar fashion, International Business Machines Corporation posted a movement of +5.06% for the period of last 100 days, recording 5,279,335 in trading volumes.

Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for IBM is recording 2.59 at the time of this writing. In addition, long term Debt to Equity ratio is set at 2.28.

Trends and Technical analysis: International Business Machines Corporation (IBM)

Raw Stochastic average of International Business Machines Corporation in the period of last 50 days is set at 35.26%. The result represents downgrade in oppose to Raw Stochastic average for the period of the last 20 days, recording 41.28%. In the last 20 days, the company’s Stochastic %K was 32.90% and its Stochastic %D was recorded 26.51%.

Now, considering the stocks previous presentation, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be encouraging, given the fact the metric is recording -1.21%. Additionally, trading for the stock in the period of the last six months notably deteriorated by -1.83%, alongside a downfall of -1.93% for the period of the last 12 months. The shares increased approximately by 2.72% in the 7-day charts and went up by -6.48% in the period of the last 30 days. Common stock shares were lifted by -0.13% during last recorded quarter.

Tue, 02 Aug 2022 04:03:00 -0500 en-US text/html https://investchronicle.com/2022/08/02/do-international-business-machines-corporation-ibm-beta-value-of-0-86-signposts-another-twist/
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