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Kareo Secures over $55 Million in Investment to Extend Market Leadership

Fully subscribed round led by Montreux Equity Partners, with participation from all current Kareo investors, to accelerate expansion of cloud-based product line for independent physicians

Irvine, CA – July 28, 2015Kareo, the leading provider of cloud-based solutions for independent medical practices, today announced it has closed $55.4 million in additional funding. This investment is led by Montreux Equity Partners with participation from Silver Lake Partners and all of Kareo’s existing investors. This capital will finance the continued development of Kareo’s product line—which enables physicians to manage all major aspects of their practice—as well as expand the company’s market access.

“With this new investment from Montreux, Silver Lake and our current investors, we’ll be able to accelerate the development of our comprehensive, cloud-based, medical office management platform for independent practices,” said Dan Rodrigues, founder and CEO of Kareo. “Concurrently, we will further expand our market reach, helping even greater numbers of physicians meet their care delivery and practice growth objectives.”

Montreux Equity Partners, a growth capital firm investing in high growth, commercial stage companies with category leading products, technologies and services has a history of investing in high-profile healthcare companies including MINDBODY Online (NASDAQ: MB), Glaukos (NYSE: GKOS) and MAKO Surgical (NASDAQ: MAKO, acquired by Stryker), among others. Along with the investment, Montreux Principal, Michael Matly, MD, will join the Kareo Board of Directors and will provide consultative guidance around the company’s market strategy. Dr. Matly brings valued experience in the health services and technology sectors and is actively involved in Montreux’s late stage investments. He previously represented Montreux on the board of MINDBODY Online (NASDAQ: MB) and currently serves on the board of Pure Life Renal. Before joining Montreux, Dr. Matly led Business Development and New Ventures at the Mayo Clinic Center for Innovation.

“We are very excited to invest in Kareo, a company dedicated to helping physicians deliver outstanding patient care without getting bogged down by administrative tasks and external mandates,” said Matly. “Independent practices are the foundation of the U.S. healthcare system, but they have been underserved by technology, often facing the choice of forgoing technology or deploying expensive and cumbersome enterprise solutions. Kareo is changing this.”

Montreux joins Kareo’s top-tier institutional investors, which include OpenView Venture Partners, Greenspring Associates, Stripes Group, Silicon Valley Bank and Western Technology Investments.

Kareo has been recognized as one of the nation’s fastest growing private companies, realizing a 368 percent increase in revenue over the past three years. In 2015, Kareo was named the leading vendor for integrated health records, practice management and physician billing solutions for the third consecutive year by Black Book and was identified by KLAS as a top-three practice management provider for practices with 1-10 physicians. The company serves over 30,000 healthcare professionals caring for 40 million patients and processes over $1 billion in medical claims monthly. In March, Kareo announced its acquisition of DoctorBase, an innovative developer of medical practice marketing and patient engagement solutions, and these solutions are now available to Kareo’s existing customers.

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About Kareo
Kareo is the only cloud-based medical office solutions platform purpose-built for small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated solution of products and services designed to help physicians get paid faster, find new patients, run their business smarter, and provide better care. Our practice management software, medical billing solution, practice marketing tools and free, award-winning fully certified EHR help more than 30,000 medical providers more efficiently manage the business and clinical sides of their practice. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Red Herring Top 100 Company, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor. Headquartered in Irvine, California, the Kareo mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.

About Montreux Equity Partners
Montreux is dedicated to making growth capital investments in category-leading companies with products, technologies and services that are advancing health. Since 1993, Montreux has invested in more than 50 companies including MINDBODY (NASDAQ: MB), Glaukos (NYSE: GKOS), MAKO Surgical (acquired by Stryker), SkinMedica (acquired by Allergan), Renal CarePartners (acquired by Ambulatory Services of America), Great Lakes Health Plan (acquired by United Healthcare), and Orexigen (Nasdaq: OREX). Montreux is based in San Francisco, CA, and is currently investing out of its fifth fund. For more information, visit www.mepvc.com.

July 28, 2015 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.

Accolade Secures $22.5 Million in Strategic Funding

PLYMOUTH MEETING, Pa. – July 16, 2015 – Accolade, the market-leading consumer health engagement platform for large employers and insurers, today announced that it has secured $22.5 million in strategic funding from a subsidiary of Independence Health Group, the parent company of Independence Blue Cross (Independence), and McKesson Ventures.

With this investment, Accolade will further strengthen its technology and analytics capabilities while capitalizing on a strong customer pipeline and growing market demand for healthcare solutions that are proven to save money, drive the right utilization and improve how consumers navigate the intricacies of the healthcare system to select high-quality care when it matters most.

“From day one, we’ve been focused on the consumer, and ways to help them overcome the incredible complexity of healthcare so that they get the right care,” says Accolade CEO Tom Spann. “It’s hugely gratifying to receive this latest round of funding from two innovation-driven companies that know healthcare and know Accolade and the kind of results we deliver. With this capital, we’ll invest in growing the business and enhancing our technology & analytics platform — while continuing to make a huge difference in the lives of the individuals and families we serve.”

Accolade currently works with some of the nation’s largest self-insured employers, health systems and health plans, including Independence. Its leading consumer engagement and influence solution helps consumers more effectively use their benefits and access the right care the first time. Accolade’s cloud-based platform integrates longitudinal consumer insights and proprietary algorithms to identify individualized care needs, match intervention types, optimize plans of action and personalize consumer outreach and messaging strategies across digital, mobile and personal channels.

“Accolade successfully marries technology with the personal touch of human interaction to effectively engage consumers, build trust and help members make better healthcare decisions,” said Independence President and CEO Daniel J. Hilferty. “Creating healthcare that’s focusing on what’s best for each individual is central to everything we do, and that personal touch is often one of the missing links in healthcare. We’re excited to invest in a company that is growing rapidly, delivering consistent results, and making the consumer’s healthcare experience a more meaningful and positive experience.”
Independence’s investment with Accolade is the most recent example of the company’s efforts to help establish Philadelphia as a global leader for healthcare innovation. Through its Center for Health Care Innovation, Independence has invested in helping nurture and grow more than 25 early-stage health-related companies engaged in the Dreamit Health business accelerator, and has partnered with national and regional healthcare leaders on joint research into critical issues such as medication adherence and reducing the incidence of diabetes.

According to Tom Rodgers, SVP and managing director of McKesson Ventures, Accolade perfectly aligns with the fund’s goal of investing in technology-enabled service companies that are enabling employers to more effectively influence consumer healthcare behavior and cost trends.

“We’re excited to support the continued growth and success of Accolade,” said Rodgers. “While there’s no shortage of innovative point solutions that address discrete healthcare issues, the reality is that they are highly underutilized, particularly by those who drive the most costs. In Accolade, we see a compelling concierge navigation platform that minimizes the hassle and confusion associated with our complex healthcare system, while generating the trust of employees and their families. This trust leads to influence, which allows Accolade’s customers to optimize the utilization of their other programs such as second opinion services, telehealth, cost transparency tools and centers of excellence programs which in turn optimizes their financial return.”

Independence and McKesson Ventures join previous investors Accretive LLC, Carrick Capital Partners, Oak Hill Capital Partners and Comcast Ventures.

About Accolade
Accolade is the country’s leading consumer healthcare engagement and influence platform for large self-insured employers and payer organizations. We help consumers navigate the complex world of healthcare and benefits, find the right providers and get the right care the first time. Our fully integrated solution is delivered through a powerful combination of Accolade Health Assistants® and advanced technology. By addressing some of the biggest problems facing healthcare – low engagement, lack of trust, and consumer knowledge gaps and errors – we’re able to consistently save our customers an average of 5-15 percent per year while delighting the individuals and family members we serve. Headquartered in Plymouth Meeting, Pa., Accolade has been recognized as one of the nation’s 25 most promising companies by Forbes magazine, the fastest-growing private healthcare company by Inc. 500 and a Top Workplace in Philadelphia for five consecutive years. For more information, visit www.accolade.com.

About Independence Blue Cross
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With our affiliates, we serve nearly 10 million people in 24 states and the District of Columbia, including 2.5 million in the region. For nearly 80 years, we have been enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more, visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross and Independence Health Group are independent licensees of the Blue Cross and Blue Shield Association.

About McKesson Ventures
McKesson Ventures is the venture capital arm of McKesson Corporation specializing in early and growth stage companies. McKesson Ventures targets companies that both catalyze and benefit from the key changes taking place in the U.S. healthcare landscape by bringing greater efficiencies to patient care and improving the healthcare experience. McKesson Corporation, currently ranked 11th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We work with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that help deliver better care to patients in every setting. Visit mckessonventures.comto learn more.

July 16, 2015 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.

medCPU Closes $8 Million Financing, Continues to Reinforce Leadership Position in Clinical Decision Support Market

NEW YORK, N.Y., July 14, 2015 – medCPU, Inc., a leader in enterprise clinical decision support solutions, announced today that it closed an $8 million financing round, consisting of $5 million series B-2 equity and $3 million in debt financing. The equity round was led by Merck Global Health Innovation Fund and New Richmond Ventures, and debt financing was provided by Silicon Valley Bank. This additional funding will enable medCPU to continue to assert its leadership position in the dynamic clinical decision support marketplace.

“We are driven by the confidence of our financial partners to further achieve our vision of changing the face of clinical decision support as it is known today,” said Sonia Ben-Yehuda, President and Co-Founder of medCPU, Inc. “In the past, the adoption of decision support has been stifled by outdated technologies that do not meet the needs of today’s clinicians. Unlike older, unreliable technologies that cause alert fatigue among clinicians, our solution delivers highly accurate and reliable decision support to clinicians at the point-of-care in real-time without disrupting their workflow.”

In a fast-paced environment where every detail is critical to a patient’s quality of care, real-time clinical decision support is a crucial component of a clinician’s workflow. The medCPU Advisor™, medCPU’s enterprise platform technology, acquires and processes both structured and unstructured data immediately as it is entered into a clinician’s Electronic Medical Record (EMR) system. The technology then assesses the data against best practice modules to provide the clinician with a holistic view of their patient and to ultimately provide highly accurate, real-time, reliable prompts at the point-of-care.

“We work with the most innovative companies, and those that have potential to transform the future of healthcare,” commented Michael Hanewich, Managing Director, Head of Life Science and Healthcare Venture Capital Relationships for Silicon Valley Bank. “The medCPU team has the vision and expertise to improve the accuracy and delivery of healthcare as it stands today.”

“Our technology is already being used by over 20,000 clinicians and a number of leading healthcare providers,” added Ms. Ben-Yehuda. ”This financing will help us to continue to grow our market share. We are excited about facilitating the move beyond antiquated, evidence-based reference tools to a new era of clinical decision support.”

medCPU’s solution is simple and seamless to deploy as it does not require integration into an EMR system or complex data connectivity to an interface engine. The medCPU Advisor™ enables healthcare providers to optimize investments already made in their EMRs. Running in the background of an EMR system unseen, the technology reads and captures data without disrupting a clinician’s workflow and only provides notifications when deviation from best practice care consideration occurs.

To meet the needs of different specialized health care organizations, medCPU delivers a wide range of customizable clinical and compliance decision support solutions, including modules for Obstetrics, Spine, Stroke, CHF, COPD, Value Based Purchasing, DRG’s, ICD-10, VTE Prophylaxis, Population Health, and in partnership with ILÚM Health Solutions™ (a subsidiary of Merck & Co., Inc. Kenilworth, NJ) is developing modules for Infectious Diseases such as Sepsis, Pneumonia and Urinary Tract Infection that also enable comprehensive Antimicrobial Stewardship.

About medCPU:
medCPU delivers accurate real-time enterprise decision support software and services through its proprietary Advisor technology. medCPU captures the complete clinical picture from clinicians’ free-text notes, dictations, discharge summaries and structured documentation entered into any Electronic Medical Record (EMR), and analyzes it against a growing library of best-practice content, generating real-time precise prompts for best care consideration. medCPU’s founding multi-disciplinary team has been pioneering new clinical decision support for nearly 20 years, delivering intelligent error reduction software systems to hospitals across the United States. medCPU’s applications include clinical and compliance support solutions. For more information, visit www.medCPU.com.

July 15, 2015 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.

ALLSCRIPTS TAKES $200M EQUITY POSITION IN NANTHEALTH AND EXPANDS STRATEGIC ALLIANCE TO ENHANCEPRECISION GENOMIC MEDICINE AT POINT OF CARE

New Agreement Calls For Accelerating Delivery and Coordination of 21st Century Evidence Based Precision Medicine

CHICAGO and CULVER CITY, CA – June 30, 2015 – Allscripts (Nasdaq: MDRX) (“Allscripts”), a global leader in healthcare information technology solutions, and NantHealth, a cloud-based information technology company, announced they have taken a significant step forward in their strategic partnership through two cross-investments and a strengthening of their commercial agreement. The investments include Allscripts’ purchase of a 10% equity stake in NantHealth for $200 million in cash. In addition, NantCapital, LLC, the personal investment vehicle of Dr. Patrick Soon-Shiong, founder of NantHealth, has made a $100 million investment into Allscripts.

NantHealth is a healthcare IT company providing the most comprehensive genomic and protein-based molecular diagnostics testing in the market today through its first in class Genomic Proteomic Sequencing (GPS Cancer) diagnostic test, applying this actionable health information to create personalized cancer treatment plans through its sophisticated care planning tool Eviti. NantHealth is in the process of bringing GPS Cancer to the point of care and into the patient’s home through a single integrated clinical platform. The Company’s vision is to allow IDNs, Academic Medical Centers, Pediatric Centers, physicians, patients, payers, employers, researchers and pharma to coordinate personalized cancer care, enable access to cutting edge clinical trials, monitor outcomes and control cost in real-time.

The investments and commercial agreement strengthen the partnership between Allscripts and NantHealth, originally announced in March 2015, to develop an integrated, evidence-based, personalized approach to healthcare solutions, and specifically cancer care. The companies will use Allscripts’ scale, global network of hospital and physician clients and leading software solutions, combined with NantHealth’s clinical platform, applications and connectivity devices to build out the infrastructure for new personalized, precision medicine programs for our clients to improve cancer care.

Going forward, NantHealth and Allscripts are focused on working together to accelerate the dissemination of technologies that seamlessly bring the promise of comprehensive molecular diagnostics to the routine, patient care setting. Specifically, the companies intend to work on joint development of: API-based integration between the two companies’ solutions; the creation of a cross clinical-GPS Cancer sequencing knowledge ontology and industry standard; the development of GPS Cancer sequencing invitations via the Allscripts FollowMyHealth® solution; integration of NantTransporter giving access to NantCancer Genome Browser, NantContraster and Paradigm and the development of an ACO solution incorporating semantic interoperability.

Research has shown that a physician’s ability to make effective, evidence-based clinical decisions can improve by using specifically matched cancer protocols and drugs, delivered to the patient based on the individual’s unique DNA, RNA and proteomic profile, and integrated with the patient’s holistic clinical picture. http://www.ascopost.com/issues/june-25,-2015/redefining-cancer.aspx For the first time, NantHealth and Allscripts can integrate these two aspects into a unique knowledge-based solution to significantly improve the way clinicians treat cancer.

Together, physicians and patients will have the tools to stay engaged and active and provide necessary intervention as early as possible. Leveraging innovations in patient engagement, care coordination and disease management; NantHealth and Allscripts are creating the first fully comprehensive and integrated platform that will provide a transformation to the coordination and delivery of personalized care across the spectrum of integrated health systems, across community ambulatory and tertiary practices.

Paul M. Black, President and Chief Executive Officer of Allscripts, said, “We’re taking an important step forward in our strategic partnership that fully aligns our resources and furthers Allscripts’ strategy to invest in new technologies that can revolutionize service to hospitals and physicians. Under the leadership of Dr. Soon-Shiong, NantHealth is pioneering extraordinarily innovative, personalized healthcare solutions that will empower more efficient and effective clinical decisions. We’re confident that our joint efforts will help Allscripts lead the way in our vision of delivering an open, integrated and precision-based medical solutions to physicians and patients.”

Dr. Soon-Shiong stated, “Since the NantHealth/Allscripts partnership began earlier this year, we have come to know Allscripts and its management team well, and I am confident that they can be a major contributor toward the execution of our vision. Allscripts has the technology and scale to become a significant player in a once-in-a-generation shift to personalized medicine. Pursuing unique and innovative partnerships such as this, which can integrate our solutions across the full spectrum of precision care, furthers our mission of building a healthcare ecosystem to drive better outcomes with the highest quality and lowest cost.”

Provider Reaction

“North Shore-LIJ has an established commitment to oncology research and the delivery of world-class cancer care,” said Michael J. Dowling, president and chief executive officer of the North Shore-LIJ Health System. “Today’s announcement of an expanded strategic alliance between NantHealth and Allscripts is exciting, both in terms of furthering our clinical mission and the opportunity to generate additional value from our long-term partnership with Allscripts. We look forward to participating in this alliance as we work together to deliver on the potential for truly personalized care.”

“Today’s healthcare providers are looking for innovative solutions that are integrated across the continuum of care,” said Robert L. Meyer, president and chief executive officer of Phoenix Children’s Hospital. “Allscripts and NantHealth offer a promising vision for how tomorrow’ssolutions will provide healthcare professionals with a personalized, comprehensive view of the patient, better analyze data, create precise protocols to drive down costs and improve patient outcomes throughout our healthcare system.”

Allscripts Adds New Sunrise Hospital Client

Allscripts also announced today that Windber Medical Center, a nonprofit, community healthcare provider, NantHealth client and affiliate, has selected the Allscripts Sunrise™ platform to be the new core electronic health record for its hospital facility, replacing its current electronic health system. Located in Somerset County, in Southwestern Pennsylvania, Windber Medical Center offers comprehensive primary and acute care including a critical care unit, home health and hospice care
fitness and wellness programs as well as the Joyce Murtha Breast Care Center.

“Windber Medical Center together with the CAP certified and Platinum rated human tissue repository at the Windber Research institute and its partnership with Walter Reed Medical Center is poised to be an integrated cancer center with the most cutting edge scientific genomic research in cancer, and our affiliation with NantHealth and Allscripts will propel us towards our mission of providing 21st century care at the community level,” said Tom Kurtz, CEO of Windber Medical Center.

NantCapital Investment in Allscripts

NantCapital’s investment has been executed through a private placement of Allscripts common stock. Allscripts received gross proceeds of approximately $100 million in the private placement. The combined impact of the expanded commercial agreement and cross-investments is expected to be modestly accretive to Allscripts earnings in 2016 and become increasingly accretive over the five-year term of the commercial agreement. The transaction does not change Allscripts 2015 guidance.

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About Allscripts
Allscripts (Nasdaq:MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

About NantHealth
NantHealth, a member of the NantWorks ecosystem of companies, is a healthcare transformational cloud-based IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need, anywhere, anytime. NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company’s technology empowers clinicians, patients and researchers to transcend the traditional barriers of today’s healthcare system. By converging molecular science, near real-time patient signal monitoring, computer science and big data technology, the NantHealth Clinical Operating System (cOS) platform empowers providers, patients, and commissioners to coordinate best care, monitor outcomes and control cost in real-time. This is the first system of its kind in healthcare, enabling 21st century coordinated care at a lower cost, enabling value-based population health management at a single patient level and at the population at large. For more information please visitwww.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare.

About NantCancer Genome Browser
NantOmics, NantCancer Genome Browser enables clinicians for the first time to investigate a tumor genome from the full three billion bases down to the single-base level in real-time, thanks to the power of the NantOmics supercomputing and secure mobile infrastructure. The Cancer Genome Browser integrates with NantHealth’s treatment recommendation engine, Eviti, to personalize treatment protocols and clinical trail selection to individual patients based on their genomic and transcriptomic signature. The NantCancer Genome Browser is fully encrypted to allow deployment in a HIPAA secured environment, enabling clinicians to securely access patient data as soon as it’s available, wherever they
are.

About NantTransporter
Data transfer is one of the largest challenges associated with the analysis of sequencing data. NantOmics has designed an infrastructure capable of storing and processing thousands of genomes a day quickly and securely. Our NantTransporter software application enables secure transport of data directly from sequencing machines to NantOmics’s secure private genome processing cloud. Data streams are encrypted using 128-bit Advanced Encryption Standard (AES-128), the same algorithms designated for Top Secret government documents. Initiating a transfer is as easy as obtaining a transfer code from our web site, and specifying the files to be sent. Annotation of the genomes begins immediately with no downtime between transferring and the beginning of processing.

NantWorks has built a dark fiber network capable of Tb/sec transfers between hospitals, academic institutions and sequencing centers. In July 2012 we demonstrated the capabilities of NantTransporter by transferring 94 TB of genomic data and achieved speeds of up to 9.55 Gb/sec with a sustained rate of over 8.232 Gb/sec, the fastest and largest documented transfer of genomic data to date. To date we have transported over 15,000 cancer genomes via NantTransporter.

About NantContraster
Accurately assessing the state of a patient’s genome is one of the most powerful tools in the emerging field of personalized medicine. NantOmics applies its leading, novel genomic analyses to rapidly discover variants in a patient’s raw genomics data using the latest sequencing technologies combined with advanced statistics and machine learning techniques.

NantContraster annotates all variants against a knowledge database comprising all known and probable disease-associated genes to rank the genomic alterations that have the highest clinical relevance. When applied to cancer tumor/normal samples, our analysis is capable of quickly identifying genomic alterations that could lead to tumorigenesis for a fraction of the cost of conventional approaches. NantContraster is capable of concurrently processing many samples to handle large workflows from researchers and hospital settings.

About Paradigm
PARADIGM (Pathway Recognition Algorithm using Data Integration on Genomic Models) is a proprietary algorithm that uses a probabilistic graphical model to integrate multiple genomic data types on curated pathway databases and is unique for its per-sample approach that allows individual samples to be assessed alone or within the context of a cohort of interest.

June 30, 2015 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.

CareCloud Strengthens Operations with $15M in New Funding and Appointment of Silicon Valley Leader Ken Comée as CEO

Investments Follow a Record First Quarter Amid Accelerating Adoption By Large Ambulatory Medical Groups

MIAMI, FL April 23, 2015 – CareCloud, the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services, today announced that it bolstered its operations with new funding and a new CEO to take its market momentum to the next level. The company disclosed $15M in additional funding from its investors, which will be used to further advance product innovation and customer success. It also appointed Ken Comée, a proven leader of enterprise cloud technology businesses, as its Chief Executive Officer, replacing Albert Santalo who will remain at CareCloud as Chairman and Chief Strategy Officer.

“Since its inception, CareCloud has achieved incredible success and growth by delivering an unparalleled platform to help healthcare organizations run better than they ever have before through connected technologies. Ken has been a supporter, friend and confidant for a number of years now and I’m confident that the team, under his leadership, will reach new heights and continue to drive CareCloud’s mission,” said Santalo.

During the past three years, Comée has helped steer CareCloud’s industry-leading growth in his role as a Board member and operational advisor. Comée assumes the CEO role at CareCloud following a successful track record of helping cloud-based technology innovators to secure and extend market leadership.  As CEO of Cast Iron Systems, he grew the company into the #1 brand in cloud integration, leading to its strategic acquisition by IBM.  Most recently, he was CEO of PowerReviews, a leader in product ratings and reviews, and oversaw the scaling of its operations and fast growth in the market.

The company’s investments follow the achievement of record contract values in the first quarter of 2015 – driven by increased demand from large medical groups replacing legacy systems. CareCloud signed seven of its largest deals to date in Q1, as average contract value tripled over the prior year. Among the nearly 50 new clients to select the CareCloud platform in Q1 was a large, multispecialty urgent care group practice with locations across the Southwest.

“The health information technology landscape has changed dramatically in the past year,” said Comée. “Regulatory considerations once drove many purchasing decisions. Today, large ambulatory medical groups demand a true platform of choice that offers superior ease of use and better business results in support of patient care. As the first quarter of 2015 demonstrated, no company is better positioned than CareCloud to lead the charge in replacing legacy systems.  I look forward to leading this team in support of that mission.”

About CareCloud

CareCloud is the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping thousands of physicians increase collections, streamline operations, and improve patient care in 48 states, and currently manages more than $4 billion in annualized accounts receivables on behalf of its revenue cycle management clients. To learn more about CareCloud, visit www.carecloud.com.

April 23, 2015 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.

Singularity University Announces New Multi-million Dollar Agreement with Google to Support Increased Global Access and Diversity in Technology Sector

MOUNTAIN VIEW, CA (January 28, 2015). Singularity University (SU), the technology-focused education institute and global business accelerator has announced a new multi-million dollar agreement with Google aimed at breaking down barriers to technology innovation by creating opportunities for a more diverse group of entrepreneurs from around the world.

Through the agreement, Google will provide $1.5 million annually for the next two years to help fund qualified and selected candidates to SU’s flagship Graduate Studies Program (GSP) – a 10-week immersive experience that educates and empowers the best minds to use exponential technologies to solve the world’s greatest challenges. While SU’s sponsored Global Impact Competitions (GIC) winners will continue to comprise a substantial portion of the GSP class, the new Google funding will enable SU to also make the remaining seats in the program available free of charge to direct applicants. GSP participants are engaged in nine tracks of exponential technology development and mentored by leaders and investors in the technology sector with the focus of abating poverty and creating innovative solutions in the areas of clean energy, water, education, security, and healthcare.

Applications are now open for the 2015 Graduate Studies Program through SU’s Direct Admission online application:  http://apply2015.singularityu.org/

“The new agreement with Google is an incredibly important pillar in our efforts to increase global access and diversity for qualified candidates, regardless of their ability to pay,” said Rob Nail, CEO and Associate Founder of Singularity University. “As a graduate of an SU program, I can speak first-hand to the life-changing experience SU offers in inspiring thinking about how technology can improve the lives of billions. Google’s support will further help to break down barriers of access to the Silicon Valley network of technologists, business leaders, and investors.”

Google has long understood the importance of breaking down barriers to be active participants in the creation of technology. “At Google, we believe in the power of access, and we work with organizations to create broad and diverse communities to be change agents,” said Mo Fong, Director of Google’s education outreach programs.

Sample Graduate Studies Program Success Stories

Bibak, a team of women from #GSP14, made a pledge to ensure that every person living in a post-conflict area should live a life free from the ever-present fear of landmines. This team, with members from Italy, Australia and Peru created the Bibak “podtector”, an effective and inexpensive landmine detector that can be assembled on site and delivered in a way that is sustainable, coordinated, and community-led.

More at: http://vimeo.com/104347651

Hivematic. When we think of the fragility of ecosystems, we often think of the decline of fish stocks or large predators, but it is the decline of the lowly bee that could have the greatest impact on humankind with the total number of managed honey bee colonies now decimated from 5 million in the 1940s to less than 2.5 million today. A #GSP13 team project created a smart beehive monitoring system with real-time optimization of hive conditions, thus reducing the risk of colony failure.

More at: https://www.youtube.com/watch?v=UobjSw-y1lQ

Matternet, a team project from #GSP11, had the vision to use unmanned aerial vehicles (UAVs) to ferry medicine and other goods to remote places, such as rural villages in Africa where people often have to walk 20 miles or more to a clinic to receive treatments as simple as blood tests or pills. With Matternet, UAVs will carry the payloads for a substantially lower cost than ground transportation.

More at: http://matternet.us/

Blue Oak Priv Bradoo first considered the idea of extracting valuable metals (copper, silver, platinum, etc.) from discarded electronics (e-waste) at #GSP09. Since then, the company has grown exponentially and now uses existing scaled-up mining industry technologies to capture value from the 40 million tons of e-waste that is landfilled or incinerated annually around the world, containing 70 billion dollars worth of precious and base metals.
More at: http://blueoakresources.com/

Miroculus, a #GSP13 team project, has brought to life an accurate, easy to use, non-invasive, decentralized, operator-independent and affordable microRNA detection platform for molecular data gathering, analysis and interpretation.

More at: http://miroculus.com/

About the Graduate Studies Program

The Graduate Studies Program (GSP) convenes future leaders and entrepreneurs from around the world in a 10-week collaborative experience to develop team-based technology solutions to widespread global challenges. During the GSP, participants are challenged to design a sustainable global solution to positively impact one billion people by leveraging exponential trends, innovation, and the power of entrepreneurship.

About Singularity University

Singularity University’s (SU) mission is to educate, inspire and empower a generation of leaders to apply exponential technologies to address humanity’s grand challenges. Since 2009, SU has hosted entrepreneurs, industry leaders and government officials from more than 85 countries and has prepared both individuals and organizations for exponential technology changes through a series of events, conferences and education programs. SU’s Founding Corporate Partners include Genentech, Autodesk, Cisco, ePlanet Ventures, Google, Kauffman Foundation and Nokia.

January 28, 2015 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.

par8o Announces $10.5 Million in Series A Funding

Funding will Support Company Mission to Enable Healthcare Organizations to Optimize Resources to Deliver Quality Care

Boston, MA, January 8, 2015par8o, Healthcare’s Operating System, today announced $10.5 million in Series A funding from Atlas Venture, Founder Collective, CHV Capital and other investors. Since the company’s founding in 2012, a growing and diverse list of organizations have adopted the par8o platform, including the largest employer in the State of Nevada, MGM Resorts, and several pre-eminent academic medical centers, including Harvard Medical School affiliated hospitals in Boston and facilities that are part of the Mount Sinai Health System in New York.

Started by the physicians who founded SERMO, the largest on-line physician community in the world, par8o traces its roots back to the on-line discussions around the Affordable Care Act (ACA).  Even then, physicians recognized that success in the new era of healthcare would require a new approach to matching the right patient to the right resource at the right time. The par8o Healthcare Operating System allows healthcare organizations to optimize their networks of providers and other resources to deliver quality care by applying one of the most powerful and proven principles in economics: Pareto Optimization. This approach, and the EMR-agnostic technologies par8o has developed to implement it, are well-suited to the complex, multi-constituency nature of healthcare because they achieve continuous efficiency improvements while balancing the needs of all parties.

“We, as a nation, face a formidable challenge to transform our health system to do more with less. Gone is the belief that all parties can optimize exclusively for their own interests, replaced with the recognition that the future will be one of convergence, offering patients not just compassionate care, but a cost-effective, seamless customer experience as well,” said Daniel Palestrant, MD, co-founder and CEO at par8o. “par8o is working to bridge the problematic gaps in EMR technology, facilitate better information sharing, and ease office workflows so that physicians have a smarter way to match patients to the right next step in their care.”

“We’ve seen an explosion in healthcare technology innovation in the last few years. With shifting demographics, policy changes and cost pressures on the healthcare system, the environment is ripe for innovation,” said Jeff Fagnan, Partner at Atlas Venture. “par8o is well positioned to usher in the change that is needed. We are looking forward to the company’s continued growth as they tackle quality, communication and cost — some of healthcare’s biggest issues today.”

par8o gives healthcare organizations a new, comprehensive view into how patients move through their facilities, enabling physicians to remain engaged in every step of the patient’s treatment. The cloud-based platform ensures transitions in care match plan design and that relevant information — such as a test result or discharge plan — are easily available. By adopting the par8o platform and streamlining transitions in care, organizations are able to match the right patient to the right resource at the right time. To date, every par8o customer has expanded their engagement with the company after experiencing initial results.

About par8o

par8o is a venture-backed, EMR-agnostic platform that creates a common point for coordinating care delivery and plan design, a technology that connects providers, payers, and patients. The par8o platform acts as a cloud-based healthcare operating system enabling all parties to improve care and optimize towards several clinical and business goals in parallel rather than to the detriment of one another. par8o helps clients succeed by applying Pareto Optimization, a powerful economic principle that succeeds because it is well suited to the complex, multi-constituency nature of healthcare. Simply put, par8o helps organizations match the right patient to the right resource at the right time. To learn more about par8o, please visitwww.par8o.com.

January 8, 2015 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.

Wellbe, Inc. Closes New Investment Round of $2.42 Million

Wellbe has closed on a new $2.42 million investment. The round included investments from Terrence Gibbons, former CEO of Pharmacy OneSource; Greg Baldwin, former CEO of Baxa; Mark Bakken, former CEO of Nordic Consulting; and Philip Seeger, CEO and President of Medcor, among others.

Wellbe helps hospitals adapt to new market expectations for value-driven care by leveraging patient navigation to reduce risk, improve efficiency and increase competitiveness. The cloud-based platform combines vital tools for patient engagement and care coordination to help patients and care teams achieve satisfying outcomes by actively engaging them with step-by-step guidance along their journey of care.

“I am very excited to be involved with Wellbe as they leverage the success they have had to date,” said Seeger. “Guided CarePaths will have a significant influence on the outcomes of patient procedures. It is wonderful to be involved with a talented team dedicated to changing the patient experience.”

Wellbe was recently recognized as the Patient Engagement category winner in the 2014 Fierce Innovation Awards byFierceHealthcare. Earlier this year, Butler Health System was given a CI+T Accelerator Award by Clinical Innovation + Technology for their use of Wellbe. Additionally, Avera McKennan Hospital and Wellbe were featured in the December issue of OR Manager for their innovative approach to orthopedic pain management. The recognition and visibility have helped the company double its customer base in six months.

“Healthcare is still too fragmented and complex. Visionary hospital leaders across the country transforming their organizations for value-driven care have determined that a navigated patient experience can deliver good results in reduced risk and improved efficiency,” said James Dias, CEO of Wellbe. “More importantly, our patients are extremely satisfied with their online experience. This new investment will grow our team and help spread these best practices and benefits to more patients across the industry.”

About Wellbe, Inc. (http://www.wellbe.me)
Wellbe, the inventor of the cloud-based Guided CarePath, works with health providers to engage patients as partners in their episodes of care. Our Guided CarePaths empower patients to learn and take the actions required to achieve better outcomes at lower costs. High-performing hospitals use Wellbe’s Connected Care solutions to improve the experience and efficiency of helping patients to successfully navigate their medical treatments and surgeries.

January 5, 2015 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.

Virtual Care Innovator Zipnosis Receives Investment from Fairview

Partnership aims to help improve access and delivery of convenient, low-cost virtual care

Minneapolis (Jan. 5, 2015) — Zipnosis, a SaaS company, announced today that it ha s received an undisclosed capital investment from Fairview Health Services, one of the largest not-for-profit integrated health care systems in Minnesota. As part of the agreement, a representative from Fairview will have a seat on the Zipnosis Board of Directors.

As one of the country’s leading virtual care providers, Minneapolis-based Zipnosis partners with health systems across the country to power virtual care services that are white labeled. By connecting patients and local clinicians online, Zipnosis makes mainstream medicine not only affordable, but easily accessible to anyone with a web-enabled device. Fairview has been providing online treatment and diagnosis to patients since January 2012 through its partnership with Zipnosis.

“Through funding and a more involved partnership, Fairview’s goal is to help provide Zipnosis the support it needs to further expand its virtual care capabilities and ultimately grow to meet the growing consumer demand for online health care,” said Dan Fromm, Fairview’s Chief Financial Officer. “We’re excited to play a more active role in creating and offering health tools that have real value for today’s health care consumer.”

“Fairview has been an incredible partner for us the past three years,” said Zipnosis Co-Founder and CEO Jonathan Pearce. “Their investment is a strong market validation for Zipnosis’ unique solution. It also allows us to rapidly grow and scale to become the market leader in the next generation of digital care delivery.”

Through the Zipnosis platform, patients can receive prompt, high-quality care for common medical conditions such as sinus infections, female bladder infections, pink eye, or cold, cough and flu through via mobile phone, computer and tablet—all for a flat-rate $25-$35 service fee payable by a credit card or health savings card.

The company’s asynchronous model ensures adherence to evidence-based medicine, while guiding connections between clinicians and patients. The platform is incredibly efficient, leading clinicians to provide diagnosis and treatment for common ailments in less than two minutes a visit.  Additionally, the platform attracts new patients to a health system, building an incremental revenue stream for hospitals without adding additional clinical headcount.

Whether using a mobile phone, computer or tablet, patients with web access can receive prompt, high-quality care by board-certified clinicians who follow national best practice guidelines for diagnosing and treating conditions and prescribing medications.

About Zipnosis:
As one of the nation’s leading virtual care providers, Minneapolis-based Zipnosis is defining virtual care, providing treatment for common medical conditions from the convenience of a web-enabled device. Founded in 2008, the company is continuing to improve patient care one click at a time by making it easy for patients and providers to connect online. Whether through Zipnosis.com or its white label product offered by health system and clinic partners around the country, users can be diagnosed, treated and triaged if necessary, to the appropriate level of care—receiving high-quality care in a manner that is most convenient to them—at home or on the go. To learn more about Zipnosis, visit www.zipnosis.com, and follow the company on Facebook and Twitter.

About Fairview: 
Fairview Health Services, headquartered in Minneapolis, is a nonprofit, academic health system providing exceptional health care across the entire continuum. In partnership with the University of Minnesota, Fairview’s 22,000 employees and 2,300 aligned physicians embrace innovation and new thinking to deliver greater value—higher quality, better experience and lower cost. To learn more about Fairview, visit fairview.org and follow the company on Facebook and Twitter.

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.

Modernizing Medicine Closes Acquisition of Aesyntix Health, Inc.

Provider of EMA™ expands its specialty-specific product offerings with billing, inventory management and group purchasing services

Boca Raton, Fla. – Dec. 30, 2014 Modernizing Medicine, Inc., creator of the Electronic Medical Assistant® (EMA™), a cloud-based, specialty-specific electronic medical records (EMR) system, announced today that it completed an acquisition of Aesyntix Health, Inc. on Dec. 22, 2014.

Aesyntix is a privately held company based in Roseville, Calif., that serves medical practices with three specialty-specific offerings: Aesyntix Billing Solutions for revenue cycle management (RCM), Aesyntix Inventory Management (AIM) and Aesyntix Physician Network (APN), a medical group purchasing organization (GPO).

The transaction with Aesyntix will enable Modernizing Medicine to provide RCM, inventory management and a GPO to its customers in addition to EMA. The specialty RCM service combines technology that streamlines claim processing and collections, comprehensive support services and specialty certified billing managers to deliver RCM expertise to end users who select the service with EMA.

“Our new specialty-specific RCM service along with EMA can create more efficient, streamlined billing processes at the point of care to help reduce denials, monitor and maximize reimbursements, decrease the cost of collections and increase revenue for providers,” said Daniel Cane, CEO and co-founder of Modernizing Medicine. “Nearly 5,000 physicians already use EMA, and most prefer one vendor for both their RCM service and EMR system. It means there is a single source for services, systems and support plus an opportunity for greater efficiencies and cost savings when customers choose combined offerings.”

“We are excited to join forces with Modernizing Medicine; it is a win all around,” said Clark Avery, CEO of Aesyntix. “Not only will the employees be part of a rapidly growing and leading healthcare technology company with a clear mission of modernizing medicine through specialty solutions, but also our customers can benefit from the stronger combined offerings.”

About Modernizing Medicine

Modernizing Medicine® is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Our flagship product, Electronic Medical Assistant® (EMA™), is a cloud-based, specialty-specific electronic medical records (EMR) system built by practicing physicians. Available as a native iPad, iPhone and Android application and from almost any web-enabled Mac or PC, EMA adapts to each provider’s unique style of practice. This ICD-10 ready EMR system is available for the dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, rheumatology, urology and plastic and cosmetic surgery markets and used by more than 4,800 physicians in the United States and its territories. The Modernizing Medicine family of companies also provides specialty-specific billing, inventory management and group purchasing services.

December 31, 2014 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.