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HIPAA Secure Now! Ramps up EHR Partner Program, Helps Healthcare Providers Achieve Meaningful Use under Revised CMS Deadlines

MORRISTOWN, NJ – AUGUST 21, 2014 – HIPAA Secure Now! rolled out its EHR (electronic health records) partnership program, making it possible for EHR vendors to now offer their customers a HIPAA security risk assessment, a vital requirement for achieving meaningful use.

HIPAA Secure Now! provides risk analysis services, policies, procedures and training to medical practices throughout the U.S. The company assesses the risks of storing and transmitting electronic protected health information (ePHI) from each system and device used by the practice.

HIPAA Secure Now! has begun adding new EHR vendor partnerships. One partner, TRAKnet targets podiatrists with its EHR solution.  Nearly 200 TRAKnet customers have completed HIPAA Secure Now’s risk assessment program, which identifies and documents ePHI threats and vulnerabilities, and recommends safeguards to avoid the risks of a data breach.

“A HIPAA risk assessment is one requirement that is beyond the capabilities of our software,” said John Guiliana, executive vice president, marketing and sales for TRAKnet “HIPAA Secure Now! fills a gap sorely needed by our clients.”

CMS Changes Rules, Lowers Bar for Healthcare Providers…

Under a new rule from the Center for Medicare and Medicaid Services (CMS), healthcare providers that received financial incentives for meaningful use were granted flexibility to use earlier versions of their CEHRT (certified electronic health record technology) and demonstrate that they have met certain stage one and two core objectives, including a HIPAA security risk assessment.  Under CMS guidelines providers must attest for meaningful use over 90 consecutive days within the 2014 reporting period.  The next reporting period ends September 30, 2014.

“As the CMS rules are changing we’re helping clients of our EHR partners get the risk assessment piece done before the quarter ends,” said Art Gross, CEO of HIPAA Secure Now!  “EHR companies know their clients are looking for a solution for meaningful use  risk assessments.  Using our cost effective, pain-free program clients can avoid the risk of failing a meaningful use audit and having to return incentive money.”

While providers must implement specific features of their EHR and achieve more than 15 core objectives and measures, a HIPAA security risk assessment is the one objective that falls outside EHR functionality. It applies to stage one and stage two, with the added requirement of addressing encryption of patient data, and is fundamental to meaningful use attestation.

Providers must complete their risk assessment by September 30th  to attest for the third quarter and receive 2014 incentive payments. Through HIPAA Secure Now’s partnership with EHR vendors, clients can attest to meaningful use, pass HIPAA compliance audits and hold on to their incentive money.

About HIPAA Secure Now!

HIPAA Secure Now! has been helping clients comply with the HIPAA Security Rule since 2009.  The company’s all-in-one solution provides risk assessment, which also satisfies Meaningful Use requirements, as well as privacy and security policies and procedures, and training.  HIPAA Secure Now! moves customers toward HIPAA compliance quickly and easily, and protects them in the event of an audit. Customers complete the entire process in two to three hours, and regularly comment that it is painless and has made HIPAA compliance very easy.  For more information visit www.HIPAASecureNow.com.

August 21, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

HealthSpot and CareSource Team to Improve Access to Healthcare

Managed Care company creates value for Medicaid members, increasing access to care through HealthSpot telehealth platform.

Dublin, OH — August 19, 2014 – HealthSpot®, a pioneer in patient and provider driven healthcare technology, and CareSource, an Ohio nonprofit managed care company dedicated to meeting the needs of healthcare consumers for more than 25 years, announced an agreement to increase access to quality healthcare for CareSource Medicaid, CareSource Just4Me and MyCare Ohio members.

HealthSpot has built a comprehensive healthcare delivery platform that combines cloud-based software with the award-winning HealthSpot station. The stations connect patients to medical providers from a variety of Ohio’s health systems including Cleveland Clinic, MetroHealth and University Hospitals. For the past 18 months, these providers and others have been using the stations for diagnosis of high frequency illnesses, such as the flu and upper respiratory issues.

HealthSpot plans to roll out nearly 100 stations in community pharmacies across Ohio combining a comprehensive healthcare delivery platform with software in the HealthSpot station. The new HealthSpot stations will provide service to consumers including CareSource members who find the pharmacy locations easier to access instead of traveling to hospital emergency rooms or urgent care facilities for routine diagnosis. The goal is to make it convenient for Ohio residents to get the right, quality care.

HealthSpot will target geographic areas that have high emergency room visit rates and patient wait times, as identified by patient focus-groups and claim data analysis conducted by the two companies.

“Working with CareSource is key to our mission to increase access to the right quality and affordable medical care through a diverse professional care network in locations that are in the patient’s own backyard,” said Steve Cashman, CEO of HealthSpot. “HealthSpot is the first open platform that enables community providers to see patients outside their facility and truly create value for everyone in the healthcare ecosystem.”

“We are dedicated to helping our members find easier access to care. The agreement with HealthSpot allows us to connect members with providers in the most convenient locations, effectively putting quality healthcare at their immediate access,” said Steve Ringel, President Ohio Market CareSource.

HealthSpot aims to bring quality care closer to the consumer by going straight to the places they already know and frequent, the neighborhood pharmacy. The agreement is targeting national chain and independent pharmacies across Ohio.

About HealthSpot®

HealthSpot® is healthcare, reimagined. A pioneer in connected care, HealthSpot has built a comprehensive healthcare delivery platform that combines cloud-based software with the award-winning HealthSpot station, digital medical devices and mobile applications. HealthSpot’s platform radically transforms today’s healthcare system by enabling the delivery of quality, affordable medical care through a diverse professional care network for patients in efficient, convenient locations like pharmacies, hospitals, clinics, employer and community sites, universities and the home. For more information on HealthSpot, go to www.healthspot.net.

The HealthSpot name and logo are registered marks of HealthSpot Inc. All rights reserved. All other marks are the property of their respective owners.

About CareSource

CareSource, a nonprofit health plan is celebrating 25 years as one of the nation’s largest Managed Medicaid Plans. Headquartered in Dayton, Ohio CareSource serves more than 1.2 million consumers in Ohio and Kentucky. CareSource is living its mission to provide healthcare to those who need it most. CareSource understands the challenges consumers face navigating the health system and works to put healthcare in reach for those it serves.

August 20, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Healthsense Closes $10 Million Financing with Boston-Based Mansa Capital

Boston, Mass. & Minneapolis, Minn. – Aug. 19, 2014 – Healthsense,® Inc., the fastest growing provider of technology-enabled care solutions for the senior care continuum, announced today that it has closed on $10 million in financing led by Mansa Capital, a Boston-based  private equity firm focused on the $2.8 trillion U.S. healthcare market. Previous investors Merck Global Health Innovation Fund and Radius Ventures LLC also participated in the round.
 
“Mansa Capital possesses exceptionally strong relationships that Healthsense can leverage to expand our reach into the managed care and home health markets, where we see major growth opportunities. This is an ideal complement to our thriving senior living business,” said Healthsense President and CEO A.R. Weiler“Mansa Capital’s involvement will extend the exceptional benefits we have realized from previous investments with Merck GHI, Radius and B.C. Ziegler and Company, influential investors whose market knowledge and resources have helped us achieve our continued growth and success.”
 
With Healthsense’s growing focus on helping managed care organizations optimize care, the firm has deployed several pilot programs within the last year including partnerships with Humana Cares/Senior Bridge, Fallon Health, and various others. Early program results suggest a positive impact of the Healthsense eNeighbor® remote monitoring platform on improving care outcomes for those with chronic health conditions by providing earlier interventions and readmission rate reductions in various care environments.  

“We seek to engage with companies that demonstrate both strong growth potential and the ability to advance the healthcare industry’s Triple Aim of improving care, reducing costs and enhancing the patient experience,” said Mansa Capital Managing Partner and Chief Investment Officer Ruben King-Shaw Jr., who will join the Healthsense Board of Directors. “Healthsense embodies all that we look for when considering an addition to our healthcare portfolio, particularly given the ever-increasing industry focus on managed care.”

Headquartered in Boston, Mansa Capital invests primarily in high-growth healthcare services and technology companies with experienced management teams, sound business franchises and substantial potential. The healthcare private equity investment firm seeks to develop companies that deliver advances in cost-effective care, demonstrate potential for strong organic revenue growth, and exhibit attractive margins as well as high returns on capital.
 



About Healthsense, Inc.
Healthsense is the fastest growing provider of technology-enabled care solutions for the senior care continuum. With a full range of remote monitoring, emergency response and wellness management solutions, Healthsense helps senior care providers and managed care organizations significantly reduce costs, increase independence and enhance caregiver and senior experiences. Built on a wireless platform, Healthsense products are scalable and enable flexible technology-enabled care designs that help in the delivery of the highest quality care across the entire care continuum. Visit www.healthsense.com for more information.

About Mansa Capital
Headquartered in Boston, Mass., with offices in New York City, Miami and Dallas, Mansa Capital is a private equity firm focused on the $2.5 trillion healthcare sector in the U.S. including Puerto Rico and the U.S. Virgin Islands. The firm uses its expertise in healthcare policy and economics to help management teams grow top line revenues and develop new products that build exceptional value. Mansa Capital’s principals bring to the firm extensive expertise in healthcare operations, marketing and finance including senior-level experience in healthcare compliance, regulation and reimbursement. The team has distinctive knowledge in the early identification of innovative business models that enable patients and providers to thrive in the post-healthcare reform environment. The firm also has special insights in the largely untapped Hispanic healthcare market. Visit www.mansancapital.com for more information. 

August 19, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Vestrum Health and First Insight Announce MaximEyes EHR Data Aggregation Integration

Unlock the value of EHR data by capturing benchmarking analytics and receiving revenue.

Hillsboro, OR (August 14, 2014– First Insight Corporation, developer of MaximEyes cloud-based practice management and 2014 Certified EHR software, and Vestrum Health announced that MaximEyes EHR is now compatible with Vestrum Health’s EHR data aggregation technology platform.

“Vestrum Health is a proprietary, secure and regulatory-compliant EHR data aggregation platform where participating physicians can securely transmit their EHR data to a proprietary database, without compromising the stability and security of their EHR system,” said Nadeem Ahmad, Vestrum Health’s Director of Operations. “Physician and patient identifiers are removed in accordance with HIPAA regulations and the data is made available to participating physicians for analytics and clinical research. Physicians always retain control over how their data is utilized. In addition, in an industry first, Vestrum Health shares a significant portion of revenue generated by data sales in the form of royalty payments to participating physicians who choose to commercialize their de-identified data. Vestrum Health provides physicians with the ability to finally capture a monetary return on their EHR investment.”

“First Insight securely uploads a participating physician’s de-identified patient data from MaximEyes to the Vestrum Health servers where it will be converted by Vestrum Health into an easily analyzable format,” said Nitin Rai, First Insight’s President and CEO. “Our goal is to always provide our customers with the best experience, service and value in the EHR industry. By collaborating with Vestrum Health, we are providing additional value to our physician customers.”

About First Insight Corporation: First Insight was founded in 1994 by Nitin Rai, president and CEO, to revolutionize and lead the eye care industry with the most complete and customizable electronic health records and practice management software. The company’s focus has been to help doctors achieve a paperless practice through MaximEyes, its flagship “eye care only” Certified Cloud Based EHR and Practice Management Software. MaximEyes helps thousands of eye care professionals increase revenue, reduce billing errors, improve patient retention, enhance office efficiency, and relieve the stress of regulatory requirements. MaximEyes software delivers tailored and affordable options for all practice sizes. First Insight is headquartered in Hillsboro, OR. To learn more, visit www.first-insight.com

About Vestrum Health: Vestrum Health was founded by retina specialists in 2012 to provide physicians with the opportunity to unlock the value of their EHR data. The company’s innovative and patent-pending technology platform facilitates the aggregation and de-identification of EHR data for clinical research, analytics and commercialization. For additional information visit www.vestrumhealth.com or download Vestrum Health’s FAQs.

August 14, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Number Of Hospital Transactions Down Slightly In First Half Of 2014 According To Kaufman Hall Analysis

Skokie, IL, August 13, 2014—Hospital merger and acquisition activity was down slightly in the first half of 2014, compared with the first half of 2013, according to the latest analysis by Kaufman Hall. In the first two quarters of 2014, 43 transactions were announced, compared with 46 in the first half of 2013.

Kauffman Hall Chart

Of the 43 transactions so far in 2014, 40 involved acquisition of not-for-profit organizations—33 by other not-for-profit organizations and 7 by for-profit organizations. The total operating revenue of the acquired organizations was $10.0 billion. The transactions occurred across a broad range of acute-care segments, including not-for-profit, for-profit, rural, urban, and academic health centers.

“Mergers and acquisitions continue to be an important method for healthcare organizations to achieve the economies, infrastructure, geographic coverage, and other attributes needed for a value-based delivery system,” says Michael Finnerty, Managing Director of Kaufman Hall.

About Kaufman Hall

Kaufman Hall is an independent management consulting firm that offers integrated strategic, capital, and financial advisory services and software tools to healthcare organizations of all types and sizes. Our goal is to help hospitals and health systems achieve best-practice strategic financial management that produces tangible, measurable, and improved financial results. To learn more, visit kaufmanhall.com

August 13, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Penn State Hershey Medical Group Realizes More Than $800,000 in Savings Over One Year with Avantas’ Healthcare Enterprise Labor Management Solutions

Leading Medical Group Optimizes Labor Management to Increase Transparency, Flexibility and Standardization of Staffing Needs

OMAHA, Neb. – August 12, 2014 – Avantas, a leading provider of strategic labor management technology, services and strategies for the healthcare industry, today announced that the Penn State Hershey Medical Group has saved more than $800,000 in one year since implementing  Avantas’ consulting services and healthcare enterprise labor management solutions.

In March 2013, Penn State Hershey leveraged Avantas’ HELM™ (healthcare enterprise labor management) methodology to increase transparency, visibility and standardization of staffing needs via a variable staffing model, resource sharing across more than 50 clinics, and centralized resource management.  The Medical Group also implemented Avantas’ Smart Square® scheduling technology to create a transparent, cost-effective and repeatable process to leverage labor resources across the enterprise. Using Avantas’ technology, Penn State Hershey Medical Group was able to achieve more than $800,000 in savings by decreasing overtime and incidental worked time and reducing full-time equivalent (FTE) leakage. The accomplishments the Medical Group has realized this year through their dedication to achieving their operational goals earned them the “Change Maker Award” at the 2014 Avantas client retreat.

“In a competitive market with declining reimbursement and an emphasis on delivering value-based care, every dollar counts,” said Sherri Luchs, Chief Administrative Officer, Penn State Hershey Medical Group.  “We knew that our workforce was one of our most valuable resources, but we needed a way to standardize our scheduling policies to create efficiencies across all practice sites. Working with Avantas, we implemented best practices and redesigned our labor management strategy not only to achieve savings but to increase our staffing flexibility to meet fluctuating patient demand.”

Avantas’ Smart Square technology is the only healthcare scheduling and productivity software that combines demand forecasting with robust scheduling functionality, enterprise transparency, and business intelligence tools all in one application. The flexible platform interfaces with Penn State Hershey’s existing IT systems including their HRIS, EMR, Time & Attendance and Payroll systems, providing users timely access to actionable data they can use to drive significant improvements to meet their organizational goals.

“As healthcare organizations begin to move from fee-for-service to value-based care models, the need to deliver cost-effective, quality care is more important than ever before,” said Jackie Larson, Senior Vice President, Avantas. “What’s unique about Penn State Hershey is that they’ve been able to leverage our HELM methodology across both the Milton S. Hershey Medical Center and the Medical Group to achieve incredible efficiencies and nearly two million dollars in savings – system wide. This true enterprise approach is the first step to what must become the industry norm.”

HELM represents a disruptive innovation for the healthcare industry, challenging organizations to rethink what is possible with regard to labor management in all departments. The approach is comprehensive and sophisticated – combining the science of workforce planning, demand forecasting, operational best practices, and a complete set of scheduling and staffing tools. Avantas has leveraged unique client experiences across provider organizations of all sizes to detail effective methodologies that help organizations rise above departmental silos and implement a consistent and effective way to integrate labor across the enterprise.

About Penn State Milton S. Hersey Medical Center

Founded in 1963 through a gift from The Milton S. Hershey Foundation, Penn State Milton S. Hershey Medical Center is one of the leading teaching and research hospitals in the country. The 541-bed Medical Center is a provider of high-level, patient-focused medical care. The Medical Center campus also includes Penn State College of Medicine (Penn State’s medical school), Penn State Hershey Cancer Institute, and Penn State Hershey Children’s Hospital—the region’s only children’s hospital. The Medical Center campus is part of Penn State Hershey Health System, which also includes the Pennsylvania Psychiatric Institute, Penn State Hershey Rehabilitation Hospital, and other specialty facilities.

About Avantas

Developers of the HELMTM methodology (healthcare enterprise labor management), Avantas is devoted to serving the healthcare industry. Its proprietary approach to managing labor consists of workforce planning services and a patented scheduling and productivity solution, Smart Square. This comprehensive approach provides its clients with tailored best practice labor management strategies designed to drive substantial and sustaining cost and quality improvements across the enterprise through automation. For more information, please visit the Avantas website at www.Avantas.com.

August 12, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

FDB Adds Boxed Warning Content to Help Ensure Patient Safety and Regulatory Compliance with High Risk Medications

The FDB High Risk Medication Module now includes both Boxed Warning and REMS content for use within the clinical workflow

South San Francisco, CA – August 7, 2014 – First Databank (FDB), the leading provider of clinical drug knowledge that improves medication-related decisions and patient outcomes, today announced that Boxed Warning content has now been added to the FDB High Risk Medication Module™. The new drug knowledge enables FDB customers and other industry stakeholders to easily identify medications designated as high risk by the Food and Drug Administration (FDA) and have a Boxed Warning and/or a Risk Evaluation and Mitigation Strategy (REMS) requirement. The module’s initial release, in July 2013, covered medications with REMS requirements. Now, with the inclusion of medications with boxed warnings, the module covers a broader spectrum of high risk medications.

Boxed warnings—the FDA’s strongest warning for medicines that carry risks of special problems —serve as notices to prescribers, pharmacists and consumers about possible adverse effects of high risk medications. The FDA has put requirements in place to help ensure the safe use of high risk drugs with the use of boxed warnings and/or REMS, which are critical guidelines for clinicians and institutions that treat patients with these medications. Although high risk medications with boxed warnings are regularly prescribed, studies have shown that these requirements are not routinely followed by clinicians because the information does not appear within their normal EHR workflow.

To address this potential patient safety issue, the FDB High Risk Medication Module is designed to seamlessly integrate with healthcare information systems to provide current boxed warning and REMS information of high risk prescription drugs directly with the clinician’s workflow. The module helps clinicians meet FDA regulatory compliance by presenting actionable messages to the right user at the right time, while eliminating the manual and often tedious efforts required in monitoring drug manufacturers’ changes to boxed warnings and REMS. Additionally, FDB keeps track of when changes are made to the requirements and maintains historical information to support retrospective analysis or auditing.

Faced with increasing numbers of high risk medications with a boxed warning, the complexity of REMS requirements and penalties for non-compliance, health care providers need easy-to-use workflow solutions. Omnicare, a comprehensive provider of pharmacy and related services to elder care and other specialized health care settings across the United States, is one of many FDB customers whose users and their patients are directly impacted by the regulatory burden and complexity clinician’s face with prescribing, dispensing and administering high risk drugs.

According to Barbara J. Zarowitz, PharmD, vice president of clinical services, Omnicare, their clinicians are concerned with identifying, monitoring and prescribing the increasing numbers of high risk medications in use today that have important medical practice implications for patient safety. In addition, satisfying the constantly changing regulatory requirements is even more challenging outside the EHR workflow. Speaking at a recent FDB Customer Conference, Zarowitz commented that, “The provision of actionable information in the EHR workflow for drugs with boxed warnings is absolutely necessary for clinicians to maximize safe use of medications in our patients.”

“Our vision is to ensure that all medication warnings and required actions—from Boxed Warnings, to REMS requirements and associated Medication Guides—are easily accessible from one convenient source, to ease the burden the healthcare industry currently faces when working to comply with high risk medication guidelines,” said Lisa Geller, senior product manager, FDB.

About First Databank (FDB)
FDB (First Databank), part of the Hearst Health network, is the leading provider of drug knowledge that helps healthcare professionals make precise medication-related decisions. With thousands of customers worldwide, FDB enables our information system developer partners to deliver a wide range of valuable, useful, and differentiated solutions. As the company that virtually launched the medication decision support category, we offer more than three decades of experience in transforming drug knowledge into actionable, targeted, and effective solutions that improve patient safety and healthcare outcomes. For a complete look at our solutions and services please visit http://www.fdbhealth.com or follow us on Twitter andLinkedIn.

About Hearst Health
FDB is part of the Hearst Health network, which also includes Zynx HealthMCG (formerly Milliman Care Guidelines) and Homecare Homebase. The mission of the Hearst Health network is to help guide the most important care moments by delivering vital information into the hands of everyone who touches a person’s health journey. Each year in the U.S., care guidance from the Hearst Health network reaches 76% of discharged patients, 133 million insured individuals, 20 million home health visits, 1.88 billion retail pharmacy prescriptions and 3.26 billion prescription claims. Extensions of the Hearst Health network include Hearst Health Ventures and the Hearst Health Innovation Lab.

August 7, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Mexico’s Healthcare Market Value to Reach Almost $28 Billion by 2020, says GlobalData

LONDON, UK (GlobalData), 7 August 2014 - Mexico’s pharmaceutical and medical devices industries will be worth approximately $22.5 billion and $5.4 billion by 2020, respectively, totaling an overall healthcare market value of $27.9 billion, according to research and consulting firm GlobalData.

The company’s latest report* states that this overall increase in Mexico’s healthcare market value will represent a Compound Annual Growth Rate (CAGR) of 6.8%, climbing from $17.6 billion in 2013, as estimated in combined findings from GlobalData and the Organization for Economic Co-operation and Development.

According to GlobalData, a number of factors, including the prevalence of non-communicable diseases, improvements in regulatory guidelines, government support for the healthcare sector, and the North American Free Trade Agreement, will help drive the anticipated market growth.

Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, says: “Over 350 domestic and multi-national companies are engaged in the manufacture of pharmaceutical products in Mexico, making the country one of the leading producers in the Americas.

“During the next five years, the pharmaceutical sector will have the opportunity to expand, due to a number of branded drugs losing market exclusivity. This will benefit domestic manufacturers, as the top pharmaceutical companies in Mexico mostly deal with generic drugs.”

Mexico was Latin America’s main exporter of pharmaceutical products in 2012, and the country has grown to be a key exporter to Europe and the US, thanks largely to free trade agreements.

Owide concludes: “While the Mexican pharmaceutical market may be vulnerable, with a high share of private healthcare expenditure, alongside out-of-pocket payments and the problem of counterfeit drugs, the overall outlook remains bright.

“Non-communicable disease, which is rising in prevalence due to the increasing elderly population and changes to diet and lifestyle, combined with the Mexican government’s aim to provide universal healthcare coverage, will increase public expenditure and create greater market opportunities for both the pharmaceutical and medical device industries.”

-ABOUT GLOBALDATA-

GlobalData is a leading global research and consulting firm offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Premier, Inc. continues growth trajectory with acquisition of Hospira’s TheraDoc, expanding industry leading electronic clinical surveillance solutions to approximately 1,000 facilities

·         Strategic combination positioned to drive quality outcomes improvement beyond current health information technology capabilities

·         Complementary data analytics and real-time surveillance expertise will support next-generation predictive clinical apps on an integrated technology platform

·         Expands Premier’s footprint by approximately 400 unaffiliated facilities

·         Provides opportunity to expand relationships with academic medical centers

CHARLOTTE, N.C. (August 5, 2014) – Premier, Inc. (NASDAQ: PINC) has reached a definitive agreement to acquireTheraDoc, a market leading provider of clinical surveillance software, for $117 million in cash, subject to potential purchase price adjustments regarding TheraDoc’s actual working capital, cash and indebtedness at closing. The transaction is expected to close in Premier’s fiscal 2015 first quarter ending September 30, 2014, subject to customary closing conditions.

TheraDoc is a wholly-owned subsidiary of Hospira (NYSE: HSP). Premier’s board of directors unanimously approved the transaction, and applicable antitrust approvals have already been obtained. Based on the trailing twelve months operating earnings provided by TheraDoc, the $117 million represents a purchase price multiple in the 10-11 times range.

Premier expects the acquisition to be accretive to earnings in the first year following the transaction’s completion.

“Our growth story continues to evolve with strategic relationships that extend our reach and add value to the U.S. healthcare system,” said Susan DeVore, president and CEO of Premier. “The addition of TheraDoc propels Premier to the top position in the clinical surveillance market, significantly strengthening our ability to help health systems monitor and protect patients from infections, harmful drug interactions and other adverse events, crucial capabilities in today’s world of performance-based reimbursement. Longer term, we expect the addition of TheraDoc will enable us to create a next-generation predictive safety solution built on Premier’s integrated technology platform.”

The transaction combines two market leaders with capabilities in data analytics and real-time electronic clinical surveillance. TheraDoc and Premier’s capabilities with its SafetyAdvisor® solution are similar in their ability to support both infection prevention and drug therapy surveillance.

Premier has data on one in every three U.S. health system discharges, pushed to members through software as a service (SaaS) apps housed on the PremierConnect® integrated technology platform. Combined, the two organizations will provide clinical surveillance expertise to approximately 1,000 facilities, 400 of which do not have a current relationship with Premier. TheraDoc was ranked as the top product in the infection control and monitoring software category in both 2012 and 2013 by KLAS, a leading health informatics research company. Leveraging this asset in combination with PremierConnect will support a next-generation solution of more than 1,000 safety alerts, capabilities that go well beyond those of electronic health records (EHRs).

“Healthcare providers will benefit from the shared strength, expertise and vision of this partnership,” said France Pitera, who is currently vice president, Clinical Information Technology, Hospira, and is planned to be named vice president, Safety Solutions, Premier. “Considering that only 50 percent of providers have invested in electronic clinical surveillance, our increased scope already addresses a largely untapped marketplace with an unmatched, best-in-class solution. We will leverage the collective resources of TheraDoc and deep analytics capabilities available through the PremierConnect platform to continue developing a broad suite of quality and safety products in a cutting-edge SaaS model.”

“Additionally, this agreement allows Hospira to dedicate even more focus on supporting our strategic growth platforms, including our specialty injectable pharmaceuticals pipeline, biosimilars program and device strategy,” said Thomas Moore, president, United States, Hospira.

TheraDoc’s offices in Salt Lake City and its 120 employees will become part of Premier’s Performance Services business unit, reporting to Keith J. Figlioli, Premier’s senior vice president of Healthcare Informatics.

“From a financial perspective, we expect TheraDoc to contribute revenue and earnings growth to our business segment,” said Figlioli. “More importantly, this business mixture enables us to deploy an enhanced and superior safety solution to the market over time. It will help to improve clinical outcomes by eliminating unjustified variation and waste associated with preventable infections, which costs the nation’s healthcare system more than $9.8 billion a year in staff time and added treatment expense, before accounting for the added financial impact of reimbursement penalties. It also provides us access to new health systems currently outside the Premier alliance, including many academic institutions.”

About TheraDoc

TheraDoc, Inc., a wholly owned subsidiary of Hospira, Inc., is a leading provider of electronic clinical surveillance to healthcare organizations across the country. Headquartered in Salt Lake City, TheraDoc’s mission is to deliver advanced informatics to help protect patients and maximize the performance of Healthcare teams. Founded in 1999 by a group of clinicians and medical informatics experts, TheraDoc was one of the pioneers of electronic clinical surveillance, and has remained at the forefront of advances in this technology. TheraDoc was acquired by Hospira in 2009. TheraDoc’s suite of software applications brings together disparate data from a hospital’s source systems, helps alert clinicians to potential risks, and empowers them with knowledge to improve clinical outcomes, lower costs, and strengthen regulatory compliance.

About Premier, Inc.

Premier, Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,000 U.S. hospitals and 110,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as TwitterFacebookLinkedInYouTube,InstagramFoursquare and Premier’s blog for more information about the company.

Forward-looking statements

Statements made in this release that are not statements of historical or current facts, such as projected operating efficiencies and synergies, expected return on investment, the timing and amount of expected revenue growth and earnings accretion from the acquisition, Premier’s ability to expand its customer base and market share, the expected closing date and future operations and integration matters described herein, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier’s control. More information on potential factors that could affect Premier’s financial results is included from time to time in the “Forward Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic and current filings with the SEC, including Premier’s Form 10-Q for the quarter ended March 31, 2014, as well as those discussed under the “Risk Factors” and “Forward Looking Statements” section of Premier’s IPO Prospectus, dated September 25, 2013, filed with the SEC and available on Premier’s website atinvestors.premierinc.com. Forward looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.

August 5, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

HIMSS Analytics Honors TriHealth Hospitals with Stage 7 Award and Associated Ambulatory Clinics with Stage 7 Ambulatory Awards

The HIMSS  Stage 7 Awards honors ambulatory facilities operating in a paperless environment and representing best practices in implementing EHR 

CHICAGO (Aug. 4, 2014) - HIMSS Analytics awarded four TriHealth hospitals with  Stage 7 Awards, and 131 of its associated ambulatory clinics, located throughout Ohio, Kentucky and Indiana, with Stage 7 Ambulatory Awards.

Stage 7 Award: HIMSS Analytics developed the EMR Adoption Model in 2005 as a methodology for evaluating the progress and impact of electronic medical record systems for hospitals in the HIMSS Analytics™ Database. There are eight stages (0-7) that measure a hospital’s implementation and utilization of information technology applications. The final stage, Stage 7, represents an advanced patient record environment. The validation process to confirm a hospital has reached Stage 7 includes a site visit by an executive from HIMSS Analytics and former or current chief information officers to ensure an unbiased evaluation of the Stage 7 environments.

Stage 7 Ambulatory Award: Developed in 2011, the EMR Ambulatory Adoption Model provides a methodology for evaluating the progress and impact of electronic medical record systems for ambulatory facilities owned by hospitals in the HIMSS Analytics™ Database.  These facilities include physician practices, clinics, outpatient centers and specialty clinics. Tracking their progress in completing eight stages (0-7), ambulatory facilities can review the implementation and use of IT applications with the intent of reaching Stage 7, which represents an advanced electronic patient record environment.

During the first quarter of 2014, only 3.1 percent of the more than 5,400 U.S. hospitals in the HIMSS Analytics® Database received the Stage 7 Award, and only 4.54 percent of the more than 24,200 ambulatory clinics in the HIMSS Analytics® Database received the Stage 7 Ambulatory Award .

“We are thrilled to be one of a small number of hospitals in the country to achieve this high level of technological integration and honored to be the only adult hospital in Cincinnati to do so,” said John Prout, TriHealth president and chief executive officer,. “The HIMSS Stage 7 designation underscores our commitment to patient-centered clinical quality and safety through the use of advanced clinical information systems. The site visit with the HIMSS Analytics officials gave us an opportunity to share our experiences and to recognize our staff and physicians for their work with our patients.”

TriHealth, one of the fastest-growing health systems in Greater Cincinnati, has more than 500 doctors and 11,000 other employees. It operates four hospitals (Good Samaritan in University Heights, Bethesda North in Montgomery, Bethesda Butler in Hamilton and TriHealth Evendale) and more than 130 other locations.

“This is an excellent deployment of an enterprise EHR that proved to be transformational,” said John P. Hoyt, FACHE, FHIMSS, executive vice president HIMSS Analytics.“TriHealth has been an early adopter of technologies that are just beginning to become mainstream.  This is truly an organization that enthusiastically embraces technology to support their core mission.”

TriHealth will be recognized at the 2015 Annual HIMSS Conference & Exhibition onApril 12-16, 2015, in Chicago, Ill.

Visit the HIMSS Analytics web site for more information on the Stage 7 award and Stage 7 Ambulatory Award.

About HIMSS Analytics

HIMSS Analytics collects, analyzes and distributes essential health IT data related to products, costs, metrics, trends and purchase decisions.  It delivers quality data and analytical expertise to healthcare delivery organizations, IT companies, governmental entities, financial, pharmaceutical and consulting companies. Visit www.himssanalytics.org.

HIMSS Analytics is a part of HIMSS, a cause-based, global enterprise that produces health IT thought leadership, education, events, market research and media services around the world. Founded in 1961, HIMSS encompasses more than 52,000 individuals, of which more than two-thirds work in healthcare provider, governmental and not-for-profit organizations across the globe, plus over 600 corporations and 250 not-for-profit partner organizations, that share the cause of transforming health and healthcare through the best use of IT.  HIMSS, headquartered in Chicago, serves the global health IT community with additional offices in the United States, Europe, and Asia.

August 4, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.