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AristaMD Secures $11 Million Series A Financing

Digital Health Company to Enhance Functionality, Accelerate Commercialization
of Referral Intelligence Platform

SAN DIEGO, July 21, 2016 – Arista MD, a technology-enabled service company providing eConsults and a suite of related specialist referral support tools, announced today it completed $11 million in financing. The Series A round was led by Avalon Ventures with participation from Correlation Ventures. The proceeds will be used to accelerate commercialization and further enhance functionality of the company’s proprietary Referral Intelligence Platform.

As many as 60 percent of specialist visits are routine consults that do not require an in-person visit. , Unnecessary care results in $10 billion annually in costs, causes delays in care planning and exacerbates access challenges for the most vulnerable patients. AristaMD’s Referral Intelligence Platform is designed to significantly reduce these costs and improve access to specialist care by facilitating rapid collaboration between primary care providers and specialists. The Referral Intelligence Platform includes a two-part process that consists of comprehensive referral work-up checklists licensed exclusively from the University of California, San Francisco (UCSF), and a simple, effective electronic consult (eConsult) platform. The AristaMD solution is proven to reduce overall specialist visits by 30 percent or more while also reducing ER visits and hospital admissions.

“We’re thrilled that Avalon and Correlation share our vision to provide a solution that optimizes referrals in today’s era of value-based healthcare,” said Rebecca Cofinas, president and CEO of AristaMD. “Our investors’ proven track record of success with building transformational companies is instrumental for our continued growth and success.”

AristaMD’s clients range from small rural providers to large county health systems in urban environments. The Referral Intelligence Platform has been designed to be flexible to fit each individual client’s workflow, technology, and clinical needs.

“The AristaMD platform is the most comprehensive solution in the market,” Cofinas said. “Our platform saves the average provider years of precious time and resources by providing a strong foundation that can still be tailored for each unique environment.”

“Referrals to medical specialists have nearly doubled over the last decade, and that figure is set to double again in the next five years,” said Jay Lichter, Ph.D., managing director at Avalon Ventures and chairman of the board at AristaMD. “AristaMD’s Referral Intelligence Platform is a unique and innovative solution designed to improve appropriate patient access and significantly reduce costs. We are pleased to support AristaMD’s top-notch team as they continue their drive to the next level of growth and commercial success.”

About Arista MD
AristaMD is a digital health company focused on assisting primary care providers in offering expanded specialty care through high-impact tools and solutions to reduce unnecessary referrals. Designed by practicing physicians, the AristaMD Referral Intelligence Platform combines clinical guidelines developed at UCSF, specialist eConsults and robust data collection and reporting into one easy-to-use software platform that is interoperable with core EMRs. AristaMD partners with clients to use the company’s platform for their own specialists or can directly provide eConsults through its comprehensive panel of board-certified specialists. AristaMD is at the forefront of designing exceptional tools to enable physicians to collaborate, promoting efficiency and optimal clinical care.

July 21, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Philips Acquires Wellcentive

AMSTERDAM–(BUSINESS WIRE)–Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it has signed an agreement to acquire Wellcentive, a leading US-based provider of population health management software solutions. Financial details of the transaction will not be disclosed.

In population health management, Philips already offers enterprise telehealth, home monitoring, personal emergency response systems (PERS) and personal health services that address multiple groups within a population from intensive ambulatory care for high-risk patients to prevention and personal health programs for the general population. Wellcentive complements Philips’ portfolio with cloud-based IT solutions to import, aggregate and analyze clinical, claims and financial data across hospital and health systems to help care providers deliver coordinated care that meets new healthcare quality requirements and reimbursement models.

Upon completion of the transaction, which is expected later today, Wellcentive and its employees will become part of the Population Health Management business group within Philips. Tom Zajac, CEO of Wellcentive and an experienced healthcare industry leader, will be appointed to lead this business group.

“With this strategic acquisition, we will strengthen our Population Health Management business and its leadership, as health systems gradually shift from volume to value-based care, and provide more preventative and chronic care services outside of the hospital,” said Jeroen Tas, Philips’ CEO Connected Care & Health Informatics. “Our sweet spot is at the point of care as we give consumers, patients, care teams and clinicians the tools, such as remote monitoring solutions and therapy devices, to optimize care. Wellcentive’s solutions will provide our customers with the ability to collect data from large populations, detect patterns, assess risks and then deploy care programs tailored to the needs of specific groups.”

“Over the past 11 years, the Wellcentive team has focused on delivering data-driven clinical, financial, and human outcomes for our customers as they provide care management for more than 30 million patients,” said Tom Zajac, CEO of Wellcentive. “Combining forces with Philips and its broad portfolio of health technologies and global reach will create a great foundation to accelerate growth in connected care – from healthy living and prevention, to diagnosis, treatment and home care – enabling consumers, providers and health organizations to benefit from our combined, stronger offering in population health management.”

Wellcentive’s applications will be integrated in the Philips HealthSuite cloud, the company’s digital enabler for the next generation of connected health solutions. One example of Philips’ existing care programs for population health management is the Intensive Ambulatory Care (eIAC) program: this combines telehealth technologies and population health management software to help care teams monitor and coach patients at home. It aims to improve patient outcomes, care team efficiency, and prevent patients from entering the hospital, where costs are significantly higher.

Founded in 2005 and headquartered in Atlanta, Georgia, Wellcentive employs approximately 115 employees. The company has a strong customer base in the US.

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. The company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Headquartered in the Netherlands, Philips’ health technology portfolio generated 2015 sales of EUR 16.8 billion and employs approximately 69,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

July 20, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

ONC Announces Phase 1 Winners of Consumer Health Data Aggregator and Provider User Experience Challenges

Challenges designed to foster private sector innovation to enable consumers and providers to easily and securely access and share electronic health information

Today the Office of the National Coordinator for Health Information Technology (ONC) announced the Phase 1 winners of two application (app) challenges to make electronic health information easier to access and use for both consumers and providers. Applicants were challenged to use the Fast Healthcare Interoperability Resources (FHIR®) standard and open application programming interfaces (APIs), which are modern resources that make it easier to retrieve and share information superseding what currently exist in most EHRs. The two challenges, the Consumer Health Data Aggregator Challenge and the Provider User Experience Challenge, were announced by Dr. Karen DeSalvo, national coordinator for health information technology, at the Health Information Management Systems Society (HIMSS) annual conference on March 1, 2016.

Consumer Health Data Aggregator Winners

The following submissions were chosen as the best solutions addressing a need that many consumers have today – the ability to easily and electronically access their health data from different health care providers using a variety of different health IT systems.

The four winners of Phase 1 of the ONC Consumer Health Data Aggregator Challenge, who will each receive a $15,000 award, are:

Green Circle Health: The Green Circle platform intends to provide a comprehensive family health dashboard covering the full Common Clinical Data Set and using FHIR to transfer patient information. It will also incorporate patient-generated health data from wearables, sensors, and other connected devices.

HealthCentrix: The Prevvy Family Health Assistant app suite provides the capabilities to manage an entire family’s health and wellness, including targeted information exchange. The platform incorporates both FHIR and Direct messaging with EHRs certified to Meaningful Use Stage 2.

Medyear: Medyear’s mobile app utilizes FHIR to merge a patient’s records from multiple sources into one clean interface. It borrows a social media-like newsfeed style to show real-time EHR updates and provides easy functionality to message and call clinicians.

MetroStar Systems:  The Locket app brings patient information from different EHRs together into a single mobile device. The app provides additional capabilities including paper-free check in and appointment scheduling and reminders.

“It is exciting to see the level of innovation that is taking place in health IT today,” said Dr. Vindell Washington, principal deputy national coordinator, announcing the Phase 1 winners at a Capitol Hill event on July 18. “The apps that these challenges will produce have the potential to spur real-world improvements for individuals and clinicians throughout the health system.”

The Provider User Experience Challenge similarly promotes the use of FHIR, but focuses on demonstrating how data made accessible to apps through APIs can enhance providers’ experience with EHRs by making clinical workflows more intuitive, specific to clinical specialty, and actionable.

The four winners of Phase 1 of the ONC Provider User Experience Challenge, who will each receive a $15,000 award, are:

Herald Health: the Herald platform leverages FHIR to highlight the patient information that clinicians need the most. Its integration of FHIR will help enable highly customizable, IFTTT-like (“if this, then that”) alerts based on real-time EHR data.

PHRASE Health: PHRASE (Population Health Risk Assessment Support Engine) Health aims to create a clinical decision support platform, to help better manage emerging illnesses, incorporate more external data sources into the identification of at-risk patients, and allow for the two-way exchange of data and knowledge between public health and frontline providers.

University of Utah Health Care / Intermountain Healthcare / Duke Health System:a multi-institutional, collaborative effort to provide clinical decision support for timely diagnosis and management of newborn bilirubin according to evidence-based best practices. The collaboration intends to integrate the app across each member’s EHR platform.

WellSheet: WellSheet’s web application seeks to utilize machine learning and natural language processing to prioritize relevant information during a patient visit. Its algorithm simplifies workflows that must incorporate multiple data sources, including those enabled by FHIR, and presents information in a single screen.

Phase 1 applicants for each of the two challenges were required to submit a series of plans for their proposed apps, including designs or screenshots, technical specifications, business/sustainability plans, and proposed provider and/or electronic health record (EHR) vendor partners to test their work. Both challenges now move to Phase 2, where the apps themselves will be evaluated.  Phase 2 remains open to all potential applicants—including those that did not provide a Phase 1 submission—with submissions due November 7, 2016. In each challenge, a grand prize, a second place prize, and an “Ultimate Connector” prize will be awarded, for a total value of $100,000.

These efforts are part of a larger community-driven movement toward helping individuals and clinicians benefit from the full potential of health IT.  They align with several policy objectives outlined in the Federal Health IT Strategic Plan, the Shared Nationwide Interoperability Roadmap, the Interoperability Commitments, and ONC’s Health IT Certification Program. The availability and interoperable exchange of health data and the technologies developed through this initiatives also have the potential to support other priority work such as delivery system reform, the Precision Medicine Initiative, the National Cancer Moonshot, and efforts to combat the opioid crisis.

For more information, visit the ONC’s Connecting and Accelerating a FHIR App Ecosystem.

July 18, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

TELUS Health Announces Agreement to Acquire Nightingale’s Canadian EMR Operations

TORONTO, ONTARIO–(Marketwired – July 14, 2016) – TELUS Health announced today that it has entered into an agreement to acquire the Canadian business of Nightingale Informatix Corp. (Nightingale) (TSX VENTURE:NGH), including its proprietary Electronic Medical Record (EMR) software solutions and related assets.

Nightingale currently provides its EMR solution to 4,000 physicians in Canada, mainly in Ontario and the Atlantic provinces.

“At TELUS Health, we are on a mission to leverage the power of technology and our world-class telecommunications infrastructure to improve health outcomes for Canadians,” said Paul Lepage, President, TELUS Health. “We are working to realize our goal not only by continuing to invest in health technology that supports the primary care ecosystem, but also through strategic acquisitions.”

The acquisition of Nightingale’s Canadian operations is subject to customary closing conditions, including Nightingale shareholder approval and regulatory approval.

About TELUS Health

TELUS Health is a leader in telehomecare, electronic medical and health records, consumer health, benefits management and pharmacy management. TELUS Health solutions give health authorities, providers, physicians, patients and consumers the power to turn information into better health outcomes. For more information about TELUS Health, please visit telushealth.com.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Azalea Health Receives $10.5 Million in Series B Funding From Kayne Partners Fund

ATLANTA, GA–(Marketwired – Jul 15, 2016) – Azalea Health announced today that it has closed its $10.5 million Series B round of funding. The round was led by Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., an alternative investment firm managing over $22.5 billion in assets. Existing Azalea investor Intersouth Partners, a venture capital firm in Durham, NC, also participated in the round.

Azalea Health is a leading provider of fully integrated, technology-enabled healthcare solutions and Revenue Cycle Enhancement™ services for practices of all sizes and most specialties. “The additional capital allows us to rapidly advance organic growth and consolidate the market through acquisition,” said Justin Pierce, Vice President of Sales.

“We are very pleased with this opportunity to partner with Kayne Anderson, a like-minded, technically focused equity provider that has a strong track record within the health IT space,” said Baha Zeidan, CEO and Co-Founder.

“Now more than ever, hospitals and physicians need tools that deliver a strong ROI, streamline workflow, and are easy to adopt and use,” Zeidan continued. “With payment reforms focused on achieving outcomes and lower costs, healthcare organizations require a comprehensive end-to-end platform that supports every aspect of their practice.”

“Kayne strives to identify companies with unrivaled competitive advantages in fast-growing industries which are led by exceptionally strong management teams. Azalea is solving unique healthcare access and delivery needs in the U.S. rural healthcare market. We recognize this is a significant growth opportunity for Azalea and believe they are uniquely positioned to take advantage of these opportunities,” said Nishita Cummings, Partner, Kayne Partners. Cummings will join the board of Azalea Health.

Azalea Health focuses on rural markets that are traditionally underserved by healthcare technology. The company is able to cost-effectively meet the needs of community and critical access hospitals, including Federally Qualified Health Centers (FQHCs) and Rural Health Clinics (RHCs), as well as their associated physician practices.

Approximately 20 percent of the U.S. population lives in rural areas, but only 10 percent of U.S. physicians practice there. This disparity creates unique healthcare access and delivery challenges for patients, caregivers and physicians, ultimately resulting in significant costs to the healthcare system.

Azalea Health is the first company to fully integrate telehealth capabilities within its technology-enabled solutions platform, which includes integrated electronic health records (EHR), practice management, electronic prescribing, interoperability services, personal health records, patient portal, Azalea M™ mobile platform integrated with Apple® HealthKit and Revenue Cycle Performance™ services.

Azalea Health, established in 2008, is headquartered in Atlanta, GA, and serves customers nationwide. By using true cloud-based technology, Azalea eliminates the need to manage hardware and software, while reducing the complexity and cost of EHR technology.

Victor Culiuc and Healthios Capital Markets LLC served as exclusive financial advisor to Azalea.

About Azalea Health
Azalea Health is a leading provider of fully integrated, technology-enabled healthcare solutions and managed services for practices of all sizes and most specialties. Azalea’s comprehensive portfolio includes integrated electronic health records, practice management, electronic prescribing, interoperability services, personal health records, patient portal, telehealth, Azalea M™ mobile platform integrated with Apple® HealthKit, as well as Revenue Cycle Performance™ services. The Azalea platform also provides tools and resources to help customers meet their Meaningful Use and ICD-10 requirements, as well as strategies to navigate accountable care and alternative payment models. To learn more, please visitwww.AzaleaHealth.com, call (877) 777-7686 or connect via social media on Facebook, Twitterand LinkedIn.

About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $600 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. www.kaynepartners.com

About Kayne Anderson
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, and growth private equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where its knowledge and sourcing advantages enable it to deliver above average, risk-adjusted investment returns. Kayne manages over $22.5 billion in assets (as of 6/30/16) for institutional investors, family offices, high net worth and retail clients and employs nearly 300 professionals in eight offices across the United States. The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit our website: www.kaynecapital.com.

July 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Caremerge Raises $14 Million in Second Institutional Round Led By Insight Venture Partners As Value Based Care Takes Shape In Post-Acute Care

CHICAGO, IL July 13, 2016Caremerge, the revolutionary industry pioneer paving the way for care coordination and communication solutions to bridge care gaps across the care continuum and get providers ready for value-based care, today announces a $14 Million investment led by Insight Venture Partners, with participation from previous investors Grażyna Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures, and Arsenal Venture Partners.

The capital enables Caremerge to fund their continued and exponential growth and expansion in the post-acute care market by leveraging its transformative cross-enterprise workflow automation technology to break healthcare information silos – put simply to get the right information at the right time to the right provider so the right decision can be made for the best possible outcome.

In 2016, Caremerge evolved its offerings in order to better prepare post-acute care providers for the value-based care model. The person-centered Caremerge platform acts as a connector across the entire continuum, bringing together many stakeholders including hospitals, MCO’s, ACO’s, physicians, other long-term care providers, families and seniors/patients, to collaborate more proactively for best outcomes and peace of mind.

The investment round sees new additions to the Caremerge Board of Directors. Harley Miller, Vice President at Insight Venture Partners and Dan Hermann, Senior Managing Director and Head of Investment Banking at Ziegler will join the board of directors.

“We are excited to become part of the Caremerge story, we share the same belief that the next era of healthcare, driven by value-based care (ACA) requires a simple, yet flexible platform capable of breaking healthcare silos while placing the patient at the center, and allowing for cross-enterprise workflow automation” said Harley Miller, Vice President, Insight Venture Partners.

Asif Khan, Caremerge’s CEO and co-founder, said: “We’re delighted to welcome Insight Venture Partners into the Caremerge family. Insight has tremendous expertise in scaling SaaS companies and we look forward to harnessing all Insight has to offer and exponentially growing Caremerge together”.

Caremerge’s care coordination platform helps providers on many fronts with tailored solutions to support them on their journey from volume to value-based care.  Caremerge offers Totally Connected Care:

  • Clinical & Compliance Solutions
  • Life Enrichment & Engagement Solutions – patients, families, and providers
  • OPEN API integrations for full interoperability, especially with many leading EHRs
  • CMS Value-Based Care Solutions
  • Hospital discharge and patient tracking into post-acute care

# # #

About Caremerge:

Caremerge forges meaningful connections among providers, families and seniors seeking to improve communication in today’s complex healthcare environment, while meeting value-based care requirements.  With a transformative, easy-to-use cloud-based care coordination network, Caremerge connects the entire care team to streamline cross-enterprise workflows among providers, engage families and patients and improve overall wellness resulting in reduced costs, enhanced experiences and more positive outcomes. To learn more, visit caremerge.com ortwitter.com/caremerge.

About Insight Venture Capital Partners:

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on Twitter: @insightpartners.

About Arsenal Venture Partners:

Arsenal Venture Partners is a multi-stage venture capital firm that invests at the intersection of government, large corporations, and emerging technology companies. We partner with visionary entrepreneurs to build exceptional businesses in the healthcare, commerce and logistics, enterprise, and resource efficiency sectors. We foster relationships through our unique network and nearly fifteen years of experience working with, among others, the Department of Defense, Veterans Administration, United States Post Office, and Fortune 500 companies. Arsenal Venture Partners has twenty-two investment professionals in four offices across the United States.

About Cambia Health Solutions:

Cambia Health Solutions, headquartered in Portland, Oregon, is a nonprofit total health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. Cambia’s growing family of companies range from software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, we are delivering solutions that make quality health care more available, affordable and personally relevant for everyone. To learn more, visit cambiahealth.com ortwitter.com/cambia.

About GE Ventures:

GE (NYSE: GE) (www.GE.com<http://www.ge.com/>) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.GE.com<http://www.ge.com/>

About Grażyna Kulczyk:

Grażyna Kulczyk is a noted investor, art collector and philanthropist. Ms. Kulczyk invests in innovative, entrepreneurial startups that directly work to serve the needs of society with simple technology that has the potential to scale globally. Her diverse portfolio includes medical, media and advertising startups.

About Ziegler:

Ziegler is a privately held investment bank, capital markets, wealth management and alternative investments firm. Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance, enables us to generate a positive impact on the communities we serve. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research.

About Ziegler LinkAge Longevity Fund:

The increasing aging population of the United States presents an attractive investment opportunity, given the size, growth and complexity of needs of this population within a continually evolving healthcare system. While the current venture capital and start-up market generally has a broad focus across the landscape of acute healthcare providers, this fund takes a concentrated approach by investing in companies that serve the Longevity Economy. The fund sponsors, Ziegler and Link-Age, leverage their domain knowledge and relationships to find attractive investment opportunities through an investment management team with relevant experience in the space. The objective of the Fund is to achieve long-term capital appreciation by making equity and equity-like (including convertible debt) investments in early to mid-stage, emerging-growth companies that operate in or develop businesses focused on the Longevity Economy.

July 13, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

McKesson Health Solutions Extends VBR Portfolio with ClarityQx Value-Based Payment Technology

Acquisition expands McKesson’s ability to support health plans in scaling bundled payment programs

NEWTON, Mass. and KING OF PRUSSIA, Pa.—July 12, 2016Last month McKesson Health Solutions released a national study that found value-based reimbursement (VBR) has firmly taken hold but that payers and providers are struggling to operationalize some of the fastest growing payment models.

Today McKesson Health Solutions announced it has expanded its portfolio to include ClarityQxvalue-based payment technology through the acquisition of HealthQX™.  This technology enhances McKesson’s ability to help customers rapidly and cost-effectively transition to value-based care by automating and scaling complex payment models, such as retrospective and prospective bundled payment.

Health plans use ClarityQx for analytics and for automation of retrospective bundled payment models and McKesson’s Episode Management™ to support automation of prospective bundled payment. Pairing ClarityQx with McKesson’s Episode Management gives health plans the ability to automate retrospective bundled payment processes today and move to prospective payment as they are ready.

“The growth of bundled payment is something payers and providers can’t ignore, and we want to ensure our customers have all the tools they need to succeed,” said Carolyn Wukitch, senior vice president of McKesson Health Solutions. “These new value-based payment analytics, reconciliation, and automation capabilities complement our value-based reimbursement suite, because they give our customers the capabilities to prepare for and scale bundled payment.”

Payers and providers are under immense pressure to operationalize bundled payments. Bundled payment is projected to be 17% of medical reimbursement by 2021, making it the fastest growing payment model. And the CMS is now mandating bundled payment in one out of every five metropolitan areas as part of its goal to make alternative payment 50% of reimbursement by 2018. Yet just half of payers and only 40% of providers are ready to implement bundles, and nearly 75% don’t have the tools they need to automate these complex models.

Now, with the addition of ClarityQx, McKesson can offer health plans a more complete portfolio that can automate their medical policy, payment policy, value-based reimbursement models, provider management, and contract management.

In addition to ClarityQx, McKesson’s Network and Financial Management portfolio also includes McKesson Episode Management™ prospective bundled payment automation solution,McKesson ClaimsXten™ advanced claims auditing rules engine, McKesson Reimbursement Manager™, McKesson Contract Manager™, McKesson Provider Manager™, and McKesson Payer Connectivity Services™.

ClarityQx was developed by HealthQX, a leading vendor of value-based payment analytic solutions for health plans and providers, which McKesson acquired in June.

“We’re thrilled to be joining McKesson Health Solutions,” said Mark McAdoo, CEO of HealthQX. “The integration of our two companies is reflective of our customers’ needs to rapidly transition from volume to value-based payments.”

About McKesson

McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies, and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

July 12, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

HealthTap Acquires Docphin to Bring Comprehensive Medical Education to Doctors for Free

Doctors can now easily stay up to date with the latest medical literature and serve even better Virtual Care to HealthTap users

July 12, 2016 08:59 AM Eastern Daylight Time

PALO ALTO, Calif.–(BUSINESS WIRE)–HealthTap, the world’s first Global Health Practice providing 24/7 immediate access to doctors via video, text, or voice, announced today that it acquired Docphin, a leading service that makes it easier for doctors to keep up to date with the latest medical news and research results.

The acquisition enables HealthTap to extend educational activities for doctors with personalized updates of the medical literature through Docphin. A prime educational service for doctors and an emerging go-to resource for new publications in the medical literature, HealthTap now guides doctors to the latest developments and provides them with alerts and updates on topics relevant to their specialties and expertise. As a result, millions of people everywhere can now turn to HealthTap for better, more informed care, from doctors who have the most trusted medical knowledge at their fingertips when they need it most.

“As a World Economic Forum Technology Pioneer, and a Webby Award Winner for best design, HealthTap is committed to transforming healthcare through discovering and providing the very best ways to deliver and receive care, whether through building, acquiring, or partnering with the very best technologies, solutions and companies,” said Ron Gutman, Founder and CEO of HealthTap. “Our recent acquisition of Docphin has helped strengthen our value proposition for doctors worldwide, and our leadership position in the medical community by making valuable information more readily accessible to physicians when they need it most. We are actively seeking out services and companies that can enhance HealthTap’s offering for both doctors and consumers, and we’re eager to continue to expand our team and scale Virtual Care services across the world.”

HealthTap is integrating Docphin’s most valuable features and functionality into its platform and invites U.S. doctors using Docphin to join the world’s largest Medical Expert Network on HealthTap’s industry-leading platform. Once validated and approved into the network, leading doctors can take advantage of Curbside Consults with colleagues, case discussions in special doctor groups via Global Rounds, and the world’s first official Course and Certification Program in Virtual care. In all of these activities and others, they can earn Category 1 Continuing Medical Education (CME) credits while learning from more than 102,000 top doctors in 141 specialties.

“We’re constantly listening to our doctors in a genuine attempt to make their lives easier, and to help them become better doctors. When we identify a compelling need amongst our doctors, we either build the solution ourselves or find a way to partner with or acquire the right solution. When many doctors from around the world asked us for an easier way to stay up to date with the latest and greatest information in their fields, we immediately thought of the award-winning Docphin product, which we are thrilled to incorporate into our platform. We are equally thrilled to welcome the best Docphin doctors to HealthTap,” said Dr. Geoffrey Rutledge, HealthTap’s Chief Medical Officer.

With the acquisition of Docphin, and HealthTap’s integration of the service into its platform, it is now easier than ever for doctors and other healthcare professionals to follow their favorite medical journals, set up alerts, conveniently search PubMed, and access a comprehensive library of landmark articles by specialty, topic, or drug class.

U.S.-licensed doctors in good standing are invited to join HealthTap’s Medical Expert Network by signing up for free here.

About HealthTap

HealthTap, a World Economic Forum Technology Pioneer, is the world’s first Global Health Practice. HealthTap delivers immediate, world-class healthcare 24/7 from Query-to-Cure. Through video, voice, and text chat on any mobile device or personal computer, HealthTap connects hundreds of millions of people everywhere with the most trusted health advice from a network of more than 100,000 top U.S. doctors. HealthTap’s proprietary, robust, and secure Health Operating System (HOPES™) and proprietary triaging technology enable healthcare systems, payers and employers worldwide to provide the right care at the right time at the right price. Sign up today and download HealthTap’s free apps for iPhone, iPad, or Android at healthtap.com.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Medsphere Systems and ChartLogic Merge

Enterprise EHR provider broadens focus to incorporate robust ambulatory electronic medical record, practice management and medical billing solutions

SALT LAKE CITY & CARLSBAD, Calif.–(BUSINESS WIRE)–Medsphere Systems Corporation and ChartLogic, Inc., today announced that they have executed a definitive agreement to merge the two companies. The transaction will expand Medsphere’s existing enterprise healthcare IT products and services to include ChartLogic’s proven ambulatory electronic health record (EHR), practice management and medical billing solutions. ChartLogic will retain its name and operate as a division of Medsphere; the expanded company will offer integrated delivery networks and physician practices an affordable and interoperable choice that meets the clinical needs of providers across the spectrum of care. The transaction is subject to customary closing conditions, and the parties expect to close by June 30, 2016.

Among ChartLogic’s proven suite of products and services is a proven EHR enhanced by modern dictation technology. ChartLogic EHR incorporates superior command and control voice navigation and speech recognition, enabling efficient charting. ChartLogic EHR also includes an extensive library of specialty-oriented vocabularies, templates, macros, and other customization tools. With ChartLogic EHR, providers can complete a unique patient record in 90 seconds or less.

“With this merger of Medsphere and ChartLogic, we’re creating a comprehensive healthcare IT platform that extends from physician practices to acute care hospitals and inpatient behavioral health facilities, ensuring continuity of care and patient information,” said Medsphere President and CEO Irv Lichtenwald. “And we’re doing it affordably so clinics and hospitals can manage their IT and improve care without going deeply into debt, as is often the case with similarly comprehensive systems. We couldn’t be more excited about the merger with ChartLogic and look forward to the success it will create.”

In 2010, ChartLogic was the first EHR in the nation to meet Meaningful Use Stage 1 requirements. The EHR is currently certified for Stage 2, and the ChartLogic team is actively working toward meeting Stage 3 standards. ChartLogic EHR also incorporates e-prescribing, patient portal, labs and document management applications; the complete ChartLogic solution includes medical billing services and a practice management solution: appointment scheduling, claims entry, advanced reporting and eligibility checking.

“ChartLogic has always been about improving the efficiency and quality of care in physician practices, so we’re very excited to join Medsphere and expand that objective to all of healthcare,” said ChartLogic CEO Zubin Emsley. “The simple fact is that the comprehensive solution platforms available to hospitals and integrated delivery networks today are contributing to the high cost of healthcare, not alleviating it. Working with Medsphere, our goal is to enable hospitals and providers to improve care and efficiency without incurring massive ongoing costs.”

Based in Salt Lake City, Utah, ChartLogic recently announced a new contract with Children’s Orthopedic Specialists of Tucson, Arizona. The company also worked with Change Healthcare to incorporate a streamlined lab ordering system into ChartLogic EHR.

Derived from the proven VistA system developed by the U.S. Department of Veterans Affairs and the Indian Health Service, OpenVista® is a comprehensive EHR platform combining both clinical and financial applications. Medsphere’s Government Services Division also applies extensive knowledge of VistA to development and testing work for the VA and Indian Health Service.

About ChartLogic

ChartLogic, Inc., is driven by the desire to improve patient care, office efficiencies and profitability for the physician practice. Since 1994, ChartLogic has been developing and delivering healthcare technology solutions. The company offers a full ambulatory EHR suite, including electronic medical record, practice management, e-prescribing, patient portal and more, as well as offering complete medical billing services which take care of the claims continuum while maximizing revenue and minimizing costs. ChartLogic is known for its proprietary command-and-control methodology that allows users to create notes fast and efficiently. The company is based in Salt Lake City, Utah, and is privately held.

For additional information, visit www.chartlogic.com or call 888-337-4441.

About Medsphere

Founded in 2002 and based in Carlsbad, Calif., Medsphere Systems Corporation is an organization of committed clinical and technology professionals working to make quality healthcare IT solutions accessible to organizations of virtually any size, shape or budget. Medsphere’s OpenVista is an acute and inpatient behavioral health-oriented portfolio of clinical products and services that leverages the VistA EHR system developed by the Department of Veterans Affairs (VA) and the Indian Health Service (IHS). Medsphere’s Government Services Division also applies that VistA expertise to development and testing projects for the VA, IHS and international customers.

Medsphere also enables better ambulatory care via physician practice EHR, revenue cycle management (RCM) and practice management systems and services. Using a vendor-independent approach to helping hospitals solve critical challenges, thePhoenix Health Systems division provides a host of healthcare IT services, including systems implementation, compliance project management, service desk, end-user device management, infrastructure support, application management and IT leadership.

Whatever your healthcare IT challenge, Medsphere has a solution.

June 28, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

McKesson and Change Healthcare to Form New Healthcare Information Technology Company

  • New entity to combine majority of McKesson Technology Solutions and Change Healthcare into separate company positioned to address the healthcare industry’s emerging and most pressing challenges.
  • Transaction to create new company with $3.4 billion in pro forma combined total annual revenues for the fiscal year ended March 31, 2016.
  • Brings together broad portfolio of complementary capabilities to deliver wide-ranging financial, operational and clinical benefits to payers, providers, and consumers.
  • McKesson and Change Healthcare will own approximately 70% and 30%, respectively, of the new company and will receive cash proceeds of approximately $1.25 billion and $1.75 billion, respectively, following the close of the transaction.
  • The new company will be jointly governed by McKesson and Change Healthcare and is expected to generate in excess of $150 million in annual synergies by the second year following the close of the transaction.

SAN FRANCISCO & NASHVILLE, Tenn.–(BUSINESS WIRE)–McKesson Corporation (NYSE:MCK), a leading global healthcare services and information technology company, and Change Healthcare Holdings, Inc., a leading provider of software and analytics, network solutions and technology-enabled services, today announced the creation of a new healthcare information technology company. The entity will combine substantially all of Change Healthcare’s business and the majority of McKesson Technology Solutions (MTS) into a new company with fiscal year end March 31, 2016 pro forma combined total annual revenues of $3.4 billion.

The new organization brings together the complementary strengths of MTS and Change Healthcare to deliver a broad portfolio of solutions that will help lower healthcare costs, improve patient access and outcomes, and make it simpler for payers, providers, and consumers to manage the transition to value-based care. As a separate entity singularly focused on healthcare technology and technology-enabled services, the new organization will be positioned to better respond to customer needs and deliver next-generation innovations.

McKesson has scheduled a conference call for today June 28, 2016, at 8:45 AM ET, to discuss the transaction. Details for the conference call are included later in this press release. For more information on the transaction, visit http://www.healthtechtransformation.com.

“This is a bold, innovative transaction that creates a company with an enhanced ability to help customers address their increasingly complex financial and clinical challenges,” said John H. Hammergren, chairman and chief executive officer, McKesson Corporation. “The new company will establish a more efficient suite of end-to-end payment and claims solutions, as well as clinical capabilities, while unlocking the value of our MTS businesses in a tax-efficient manner. We look forward to partnering with Change Healthcare’s management team and employees to create this new enterprise and to help customers reduce complexity, lower costs and ultimately provide better care.”

“The combination of these two entities comes at a transformational time in U.S. healthcare,” commented Neil de Crescenzo, president and chief executive officer, Change Healthcare. “Together we will create significant value by bringing together complementary capabilities from both organizations to deliver innovative new solutions for customers, create opportunities for team members at a leading healthcare technology company, and drive advancements that address the three critical areas of cost, quality and outcomes across the healthcare sector.”

The new company will be able to offer health plans and providers a comprehensive suite of end-to-end financial and payment solutions and technologies. In addition, customers will benefit from solutions that help them manage administrative and clinical complexity as they navigate the transition to value-based care. Patients will have better tools that allow them to make more informed decisions, helping them maximize their healthcare dollars and receive high quality care.

“We are extremely pleased to be part of this important new company,” said Neil P. Simpkins, senior managing director of Blackstone. “The innovative track records and forward-thinking experiences of both organizations create a truly unique opportunity for positive impact across the healthcare ecosystem.”

Transaction Terms and Structure

Under the terms of our agreement, McKesson will contribute the majority of its McKesson Technology Solutions businesses to the new company, with the exception of RelayHealth Pharmacy and its Enterprise Information Solutions (EIS) division, which will be retained by McKesson. McKesson separately announced today that it will explore strategic alternatives for its EIS division.

Change Healthcare will contribute all of its businesses to the new company, with the exception of its pharmacy switch and prescription routing business, which will be owned separately by the current Change Healthcare stockholders. Change Healthcare is currently majority-owned by Blackstone.

McKesson will own approximately 70% of the new company, with the remaining equity stake held by Change Healthcare stockholders, which includes Blackstone and Hellman & Friedman. McKesson and Change Healthcare stockholders will jointly govern the new company and John H. Hammergren will serve as chairman. Neil de Crescenzo will serve as chief executive officer, joined by an experienced management team comprised of leaders from both McKesson and Change Healthcare.

Financial Highlights

The transaction unlocks value for McKesson and Change Healthcare stockholders by creating a new company with a singular focus on healthcare technology and technology-enabled services, and is expected to generate in excess of $150 million in annual synergies by the second year following the close of the transaction.

The new company has received commitments for $6.1 billion of funded debt related to this transaction, with proceeds to be used to repay approximately $2.7 billion of existing Change Healthcare debt, make $1.25 billion in cash payments to McKesson and make $1.75 billion in cash payments to Change Healthcare’s stockholders, with the remainder to be used for transaction-related expenses.

The transaction is subject to closing conditions, including antitrust clearance and the completion of audited financial statements of the MTS businesses being contributed to the new company, and is expected to close in the first half of calendar year 2017. The agreement provides that McKesson and Change Healthcare will take steps to launch an initial public offering in the months following the close of the transaction, subject to market conditions. Thereafter, McKesson expects to exit its investment in the new company in a tax-efficient manner.

Conference Call Details

McKesson has scheduled a conference call for today June 28, 2016, at 8:45 AM ET to discuss the transaction. The dial-in number for individuals wishing to participate on the call is 719-234-7317. Craig Mercer, senior vice president, Investor Relations, McKesson Corporation, is the leader of the call and the password to join the call is ‘McKesson’. The live webcast and supplementary slide presentation for the conference call can be accessed on the company’s Investor Relations website athttp://investor.mckesson.com.

A telephonic replay of this conference call will be available for five calendar days. The dial-in number for individuals wishing to listen to the replay is 719-457-0820 and the pass code is 2040084.

About McKesson Corporation

McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies, and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

About Change Healthcare

Change Healthcare is a leading provider of software and analytics, network solutions and technology-enabled services that optimize communications, payments and actionable insights designed to enable smarter healthcare. By leveraging its Intelligent Healthcare Network™, which includes the single largest financial and administrative network in the United States healthcare system, payers, providers and pharmacies are able to increase revenue, improve efficiency, reduce costs, increase cash flow and more effectively manage complex workflows. Learn more at www.changehealthcare.com.

About Blackstone

Blackstone has been a global leader in private equity since 1985, with $95 billion of assets under management. Blackstone uncovers value by identifying great companies and enhancing their performance by providing strategic capital and outstanding management talent. Blackstone aims to grow stronger enterprises, create jobs, and enable its portfolio companies to build lasting value for its investors, their employees and all stakeholders.

Blackstone is one of the world’s leading investment firms. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. This is done by using extraordinary people and flexible capital to help companies solve problems. Its asset management businesses, with over $340 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.