Free EHR, EHR and Healthcare IT Newsletter Want to receive the latest updates on EHR, EMR and Healthcare IT news sent straight to your email? Get all the latest EHR News for FREE!

AxiaMed Announces $12.4 Million Capital Investment Led By Health Enterprise Partners

Strategic Investment to Accelerate Growth Driven by Demand for Greater Patient Payment Convenience and Security

SANTA BARBARA, CA., August 14, 2018 – AxiaMed, an innovative healthcare payments technology company, announced today that it has raised $12.4 million in funding to accelerate its growth in the burgeoning market for secure, flexible patient payments. Health Enterprise Partners (HEP) led the round with participation by a number of AxiaMed’sexisting investors, including Nashville Capital Network.

Since its founding in 2015, AxiaMed has experienced triple-digit annual growth driven by the dramatic increase in patient financial responsibility for healthcare expenses. Industry analysts predict that patient payments will exceed 30% of total healthcare costs in 2019 and rise to nearly 50% within 5 years.

“We are thrilled to partner with Health Enterprise Partners and its extensive network of healthcare industry partners. This investment further validates the significance of AxiaMed’s solutions and the necessity for healthcare organizations and software solutions to provide secure patient payment technology. We look forward to significant and increased execution with the additional resources,” said Randal Clark, CEO and co-founder, AxiaMed.

AxiaMed’s Payment Fusion platform has become the healthcare industry’s preferred SaaS-based payment platform and is used by hundreds of hospitals and thousands of ambulatory providers. Payment Fusion enables healthcare software vendors to integrate secure payment technology into their applications, lessening the risks of payment data breaches, and reducing compliance burdens while improving the financial performance of providers by expanding payment options available to patients.

“While many other healthcare payment companies have focused on point solutions, AxiaMed’s innovative payment platform enables and enhances secure patient payment solutions within various healthcare software solutions,” said Ezra Mehlman, Principal at Health Enterprise Partners. “AxiaMed’s impressive growth and strong customer demand positions the company as a market leader, particularly in the healthcare payment and security categories of revenue cycle technology.”

“Health Enterprise Partners’ deep experience in the healthcare marketplace will help us accelerate the expansion of our Payment Fusion platform with healthcare organizations and software partners, greatly improving the payment experience for both providers and payers,” said Kevin Kidd, co-founder and Chief Business Development Officer, AxiaMed.

Proceeds from this funding round will enable AxiaMed to increase its product development and go-to-market strategy, strengthen its core team, and solidify its market position. Within the past year, AxiaMed became one of the first healthcare-focused PCI-validated Point-to-Point Encryption (vP2PE) solution providers. This security offering enables AxiaMed’s software partners and healthcare organizations to enhance its security infrastructure and reduce PCI compliance requirements and attendant costs.

About AxiaMed

AxiaMed is a healthcare financial technology company specializing in payment integration and security. AxiaMed’s integrated payments technology platform, Payment Fusion, improves the financial performance of healthcare providers through integration with various revenue cycle, practice management, EHRs and other software systems, enhancing interoperability and payment options across the entire ecosystem of healthcare payments between patients, providers and payers.

AxiaMed is headquartered in Santa Barbara, CA with executive offices in Nashville, TN.

For more information, visit https://www.axiamed.com/.

About Health Enterprise Partners

Health Enterprise Partners invests primarily in privately held, middle market companies in health care services and health care information technology. Central to HEP’s strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP’s funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of health care.

For more information, please visit http://www.hepfund.com .

August 15, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Olive (f/k/a CrossChx) Closes $32.8 Million Series D Financing

Funding led by Oak HC/FT and Ascension Ventures to enable company to accelerate product development and scale its technology to healthcare organizations nationwide

CrossChx rebrands itself as Olive to reflect commitment to building meaningful AI-enabled robotic process automation solutions for healthcare

COLUMBUS OH, July 30, 2018—Olive, the premier healthcare-focused robotic process automation and artificial intelligence company, announced today that it has raised a $32.8 million Series D round from Oak HC/FT and Ascension Ventures with participation from existing investors. The round will help the company scale its eponymous AI solution, Olive, throughout healthcare organizations nationwide and invest in new capabilities such as Pupil, its process mining tool, that will be launched at alpha sites this summer.

“Hospital operations have grown unsustainably complex as providers must adopt new technologies, workflows, and regulations with increasing frequency in order to provide best-practice care,” added John Kuelper, Investment Director at Ascension Ventures. “Olive’s cutting-edge process mining and automation technologies are enabling our firm’s health system partners to continually optimize clinical and administrative operations so caregivers can spend more of their time on patient care.”

“Olive arrives at a time when healthcare organizations are burdened with improving efficiency, reducing costs, and enhancing the patient experience,” said Sean Lane, Founder and CEO of Olive. “Olive handles repetitive, high-volume tasks, which allows employees to get back to patient care and presents healthcare organizations with value that could not otherwise be realized.”

“As the first healthcare automation solution on the market using AI to streamline repetitive tasks and workflows by working with existing systems, Olive is uniquely positioned to counteract the ever-increasing cost of healthcare and humanize the cumbersome process,” said Billy Deitch, Principal at Oak HC/FT. “We are excited to partner with Olive to deploy its innovative technology at scale.”

Billy Deitch, Principal at Oak HC/FT and John Kuelper, Investment Director at Ascension Ventures, will join the company’s board of directors.

Earlier this year, Olive divested its legacy Connect platform and related products including Connect biometrics, Queue registration kiosk, and the CrossChx Connect mobile app to DHS Group.

ABOUT OLIVE
Olive is a healthcare-specific artificial intelligence and process automation company that empowers healthcare organizations to improve efficiency and patient care while reducing costly administrative errors. Its eponymous AI solution, Olive, acts as the intelligent router between systems and data by automating repetitive, high-volume tasks and workflows, providing true interoperability. Olive has helped healthcare organizations reduce data and billing errors, eliminate denials for no coverage, improve cash collections by reducing days in A/R, and more. To learn more and receive updates, visit www.oliveai.com.

ABOUT OAK HC/FT
Founded in 2014, Oak HC/FT (http://oakhcft.com) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). With $1.1 billion in assets under management, we are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is headquartered in Greenwich, CT with offices in Boston and San Francisco. Follow Oak HC/FT on Twitter, LinkedIn and Medium.

ABOUT ASCENSION VENTURES
Ascension Ventures is a strategic healthcare investment firm with four funds and more than $800 million in capital under management. The firm was launched in 2001 by Ascension, the nation’s largest Catholic and non-profit health system, and today invests on behalf of thirteen of the nation’s leading community health systems. These health system limited partners collectively operate 474 hospitals, have 578,000 employees and generate $88 billion in annual revenue. AV collaborates with these partners to identify, invest in, and support strategically aligned private companies that are transforming the healthcare industry and enhancing the experience for patients, their families, and caregivers.

July 30, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Patientco Primed to Help More Health Systems Rethink Patient Payments with Strategic Growth Investment Led by Accel-KKR

Series B funding fuels expansion of leading patient billing and payments technology company focused on creating a smarter patient financial experience

ATLANTA & MENLO PARK, Calif.–Patientco, a next-generation patient billing and payments technology company, announced today it has raised $28 million in Series B growth capital. This investment was led by Accel-KKR with participation from existing investor BlueCross BlueShield Venture Partners / Sandbox Advantage Fund. The capital will be used to accelerate Patientco’s growth in the $5B+ patient payments market, expand sales and marketing throughout the U.S., and fuel continued product innovation within the company’s industry-leading patient billing and payments platform.

“We are solving for an unprecedented affordability crisis in healthcare,” said Bird Blitch, co-founder and CEO of Patientco. “Health systems have an opportunity to create a superior patient financial experience by leveraging smarter technology which turns patient payments into an economic growth engine. We are excited to partner with Accel-KKR to continue our growth and help more health systems solve this complex challenge.”

Accel-KKR’s investment follows a string of successful milestones for Patientco including: reaching 10 million unique patient users, crossing $1B in payments processed, and serving more than 2,000 healthcare locations across the U.S. with its patient billing and payments technology. Patientco continues to bring together the best in FinTech and healthcare technology to create a superior patient financial experience and deliver significant financial outcomes for its health system clients.

“Patientco has a differentiated approach to the patient payments problem in healthcare, leveraging its end-to-end platform to make every patient financial engagement better than the last. We believe Patientco will make a lasting positive impact on healthcare, both for patients and health systems on the Patientco platform,” remarked David Cusimano, Principal at Accel-KKR. “No other payments company in the market offers a seamless patient experience while being able to handle the volume that comes from large health systems. We are very excited to be a part of this next stage of Patientco’s success,” added Greg Williams, Managing Director at Accel-KKR.

“Patientco has been a tremendous growth story,” said Tom Hawes, M.D. Managing Director at Sandbox Industries, on behalf of BlueCross BlueShield Venture Partners. “The management team continues to execute on a compelling strategy which creates differentiated outcomes for health systems alongside 95% positive patient feedback on their payment experience. We are pleased to have Accel-KKR join the Patientco family.”

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.

About BlueCross BlueShield Venture Partners

BlueCross BlueShield Venture Partners, L.P. is a corporate venture fund licensed by the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. The fund invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield companies. Sandbox Industries is the exclusive provider of investment management services to BlueCross BlueShield Venture Partners. For more information, visit www.bcbsvp.com.

About Patientco

Patientco is a payment technology company founded specifically to re-think the patient payment experience in healthcare by bringing together intuitive consumer payment tools and world-class payment infrastructure backed by data-led design to create a superior patient billing experience and deliver more payments to health systems. Patientco is a proud cohort of the Backed By ATL initiative from the Metro Atlanta Chamber and alumni of Georgia Tech’s Advanced Technology Development Center (ATDC) incubator program. Patientco is making healthcare better one payment at a time. Visit Patientco online at Patientco.com.

July 25, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

AI Healthcare Company Lunit Raises $15 Million in Series B Funding Round

Latest Round Secured as Lunit Aims for Global Growth; Legend Capital and Formation 8 Joins as Investor

SEOUL, KOREA – July 16, 2018 — Lunit, an AI healthcare startup company that uses deep-learning technology in medical imaging, today announced its Series B raise of $15 million.

The round was led by Intervest, joined by Softbank Ventures, Kakao Ventures, Mirae Asset Venture Investment, KT Investment(Korea Telecom) and others—a total of 7 international venture capital investors. Legend Capital, China’s renowned venture capital firm newly joined the funding round and an investor from series A, Formation 8, based in Silicon Valley, made an additional investment.

The investment underscores the recent global recognition of the Korea-based company, as well as Lunit’s successful achievements made in the international stage for its top-notch technology. Lunit was chosen by CB Insight as <100 AI Startup> in 2017, and also was listed as “Top 5 AI startups for social impact” by NVIDIA. Lunit ranked top in international competitions such as ImageNet (5th place, 2015), TUPAC 2016 (1st place), and Camelyon 2017 (1st place, post-reopening), surpassing top companies like Google, IBM, and Microsoft.

“The investment and support from the investors were key to our development of medical AI and its global recognition,” said Anthony Paek, CEO of Lunit. “We will now accelerate the market release of our developed products and step up to become a company that can help alleviate sufferings of patients and families from various diseases.”

Lunit has earmarked the capital to fuel growth in AI healthcare software, build new deep-learning technology in medical imaging, expand business operations and acquire new talents.

“We have witnessed quantum jumps in the AI field in the last few years, being applied in different domains. The medical field is not an exception,” said Joon Sung Park, Managing Director at Legend Capital. “We paid close attention to Lunit’s vast and advanced medical imaging data, the accuracy of the algorithm, the excellence of the team and other factors. We would like to support Lunit in their global expansion through providing opportunities to cooperate with our portfolio companies.” According to Park, Legend Capital had also invested in Deep Informatics and Deepwise, both China’s AI start-ups, and Careray, one of China’s well-known X-ray manufacturer.

Lunit is set to present its upcoming business plans at <SoftBank World 2018>, which will be held on July 19 at Tokyo, Japan. “It is encouraging that Lunit is being globally recognized,” said Junpyo Lee, CEO of SoftBank Ventures. “Lunit is one of the most promising companies that we closely watch.”

About Lunit

Founded in 2013, Lunit aims to contribute immensely to the medical advancement, using artificial intelligence technology. Lunit develops “Data-driven Imaging Biomarker” (DIB) technology which detects and analyzes important diagnosis from medical images, empowering healthcare practitioners to make more accurate, consistent and efficient clinical decisions. 

Lunit’s cutting-edge deep learning technology is an algorithm-based image recognition, which is acclaimed for its accuracy and objectivity in medical image diagnosis. Lunit is based in Seoul, South Korea.

July 16, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Proposed 2019 Physician Fee Schedule and MACRA – MIPS Changes Announced by CMS #PatientsOverPaperwork #QPP

Proposed changes to the Medicare Physician Fee Schedule and Quality Payment Program would streamline clinician billing and expand access to high-quality care

Today, the Centers for Medicare & Medicaid Services (CMS) proposed historic changes that would increase the amount of time that doctors and other clinicians can spend with their patients by reducing the burden of paperwork that clinicians face when billing Medicare. The proposed rules would fundamentally improve the nation’s healthcare system and help restore the doctor-patient relationship by empowering clinicians to use their electronic health records (EHRs) to document clinically meaningful information, instead of information that is only for billing purposes.

“Today’s reforms proposed by CMS bring us one step closer to a modern healthcare system that delivers better care for Americans at a lower cost,” said HHS Secretary Alex Azar. “Such a system requires empowering American patients by giving them price and quality transparency and control over their own interoperable health records, goals supported by CMS’s proposals. These proposals will also advance the successful Medicare Advantage program and accomplish a historic regulatory rollback to help physicians put patients over paperwork. Further, today’s proposed reforms to how CMS pays for medicine demonstrate the commitment of HHS to implementing President Trump’s blueprint for lowering drug prices. The ambitious reforms proposed by CMS under Administrator Verma will help deliver on two HHS priorities: creating a value-based healthcare system for the 21st century and making prescription drugs more affordable.”

“Today’s proposals deliver on the pledge to put patients over paperwork by enabling doctors to spend more time with their patients,” said CMS Administrator Seema Verma. “Physicians tell us they continue to struggle with excessive regulatory requirements and unnecessary paperwork that steal time from patient care. This Administration has listened and is taking action. The proposed changes to the Physician Fee Schedule and Quality Payment Program address those problems head-on, by streamlining documentation requirements to focus on patient care and by modernizing payment policies so seniors and others covered by Medicare can take advantage of the latest technologies to get the quality care they need.”

The proposals, part of the Physician Fee Schedule (PFS) and the Quality Payment Program (QPP), would also modernize Medicare payment policies to promote access to virtual care, saving Medicare beneficiaries time and money while improving their access to high-quality services no matter where they live. Such changes would establish Medicare payment for when beneficiaries connect with their doctor virtually using telecommunications technology (e.g., audio or video applications) to determine whether they need an in-person visit. Additionally, the QPP proposal would make changes to quality reporting requirements to focus on measures that most significantly impact health outcomes. The proposed changes would also encourage information sharing among health care providers electronically, so patients can see various medical professionals according to their needs while knowing that their updated medical records will follow them through the healthcare system. The QPP proposal would make important changes to the Merit-based Incentive Payment System (MIPS) “Promoting Interoperability” performance category to support greater EHR interoperability and patient access to their health information, as well as to align this clinician program with the proposed new “Promoting Interoperability” program for hospitals.

If today’s proposals were finalized, clinicians would see a significant increase in productivity – leading to substantially more and better care provided to their patients. Removing unnecessary paperwork requirements through the PFS proposal would save individual clinicians an estimated 51 hours per year if 40 percent of their patients are in Medicare. Changes in the QPP proposal would collectively save clinicians an estimated 29,305 hours and approximately $2.6 million in reduced administrative costs in CY 2019.

PROPOSED CY 2019 PHYSICIAN FEE SCHEDULE KEY CHANGES

The Physician Fee Schedule establishes payment for physicians and medical professionals treating Medicare patients. It is updated annually to make changes to payment policies, payment rates and quality-related provisions. Extensive public feedback the agency has received has highlighted a need to streamline documentation requirements for physician services known as “evaluation and management” (E&M) visits, as well as a need to support greater access to care using telecommunications technology.

The proposed changes to the Physician Fee Schedule would reinforce CMS’ Patients Over Paperwork initiative focused on reducing administrative burden while improving care coordination, health outcomes, and patients’ ability to make decisions about their own care.

Streamlining Evaluation and Management (E&M) Payment and Reducing Clinician Burden

CMS and the Office of the National Coordinator for Health Information Technology (ONC) have heard from stakeholders that CMS’s extensive documentation requirements for Evaluation and Management codes have resulted in unintended consequences. To meet these documentation requirements, providers have to create medical records that are a collection of predefined templates and boilerplate text for billing purposes, in many cases reflecting very little about the patients’ actual medical care or story.

Responding to stakeholder concerns, several provisions in the proposed CY 2019 Physician Fee Schedule would help to free EHRs to be powerful tools that would actually support efficient care while giving physicians more time to spend with their patients, especially those with complex needs, rather than on paperwork. Specifically, this proposal would:

  • Simplify, streamline and offer flexibility in documentation requirements for Evaluation and Management office visits — which make up about 20 percent of allowed charges under the Physician Fee Schedule and consume much of clinicians’ time;
  • Reduce unnecessary physician supervision of radiologist assistants for diagnostic tests; and
  • Remove burdensome and overly complex functional status reporting requirements for outpatient therapy.

Advancing Virtual Care

“CMS is committed to modernizing the Medicare program by leveraging technologies, such as audio/video applications or patient-facing health portals, that will help beneficiaries access high-quality services in a convenient manner,” said Administrator Verma.

Getting to the doctor can be a challenge for some beneficiaries, whether they live in rural or urban areas. Innovative technology that enables remote services can expand access to care and create more opportunities for patients to access personalized care management as well as connect with their physicians quickly.

Provisions in the proposed CY 2019 Physician Fee Schedule would support access to care using telecommunications technology by:

  • Paying clinicians for virtual check-ins – brief, non-face-to-face appointments via communications technology;
  • Paying clinicians for evaluation of patient-submitted photos; and
  • Expanding Medicare-covered telehealth services to include prolonged preventive services.

Lowering Drug Costs

President Trump is putting American patients first and lowering prescription drug costs, and CMS is committed to advancing this effort. CMS is today proposing changes as part of the continued rollout of the Administration’s blueprint to lower drug prices and reduce out-of-pocket costs.

The changes would affect payment under Medicare Part B. Part B covers medicines that patients receive in a doctor’s office, such as infusions. CMS is proposing a change in the payment amount for new drugs under Part B, so that the payment amount would more closely match the actual cost of the drug. This change would be effective January 1, 2019, and would reduce the amount that seniors would have to pay out-of-pocket, especially for drugs with high launch prices. This is one of many steps that CMS is taking to ensure that seniors have access to the drugs they need.

PROPOSED CY 2019 QUALITY PAYMENT PROGRAM KEY CHANGES

To implement the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), CMS established the Quality Payment Program (QPP), which consists of two participation pathways for doctors and other clinicians – the Merit-based Incentive Payment System (MIPS), which measures performance in four categories to determine an adjustment to Medicare payment, and Advanced Alternative Payment Models (Advanced APMs), in which clinicians may earn an incentive payment through sufficient participation in risk-based payment models.

The proposed changes to QPP aim to reduce clinician burden, focus on outcomes, and promote interoperability of electronic health records (EHRs), including by:

  • Removing MIPS process-based quality measures that clinicians have said are low-value or low-priority, in order to focus on meaningful measures that have a greater impact on health outcomes; and
  • Overhauling the MIPS “Promoting Interoperability” performance category to support greater EHR interoperability and patient access to their health information, as well as to align this performance category for clinicians with the proposed new Promoting Interoperability Program for hospitals.

Under the requirements of the Bipartisan Budget Act of 2018, CMS is continuing the gradual implementation of certain MIPS requirements to ease administrative burden on clinicians. The proposed changes to the Quality Payment Program reflect feedback and input from clinicians and stakeholders, and we will continue to offer free and customized support from CMS’s technical assistance networks.

MEDICARE ADVANTAGE QUALIFYING PAYMENT ARRANGEMENT INCENTIVE (MAQI) DEMONSTRATION

Aligning with the agency’s goals of improving quality of care and responding to the feedback we have received from clinicians, CMS also proposes waivers of MIPS requirements as part of testing a demonstration called the Medicare Advantage Qualifying Payment Arrangement Incentive (MAQI) demonstration. The MAQI demonstration would test waiving MIPS reporting requirements and payment adjustments for clinicians who participate sufficiently in Medicare Advantage (MA) arrangements that are similar to Advanced APMs.

Some Medicare Advantage plans are developing innovative arrangements that resemble Advanced APMs. However, without this demonstration, physicians are still subject to MIPS even if they participate extensively in Advanced APM-like arrangements under Medicare Advantage. The demonstration will look at whether waiving MIPS requirements would increase levels of participation in such MA payment arrangements and whether it would change how clinicians deliver care.

PRICE TRANSPARENCY: REQUEST FOR INFORMATION

Finally, as part of its commitment to price transparency, CMS is seeking comment through a Request for Information asking whether providers and suppliers can and should be required to inform patients about charge and payment information for healthcare services and out-of-pocket costs, what data elements would be most useful to promote price shopping, and what other changes are needed to empower healthcare consumers.

Public comments on the proposed rules are due by September 10, 2018.

For a fact sheet on the CY 2019 Physician Fee Schedule proposed rule, please visit:
https://www.cms.gov/Newsroom/MediaReleaseDatabase/Fact-sheets/2018-Fact-sheets-items/2018-07-12-2.html

To view the CY 2019 Physician Fee Schedule proposed rule, please visit: https://www.federalregister.gov/public-inspection/

For a fact sheet on the CY 2019 Quality Payment Program proposed rule, please visit: https://www.cms.gov/Medicare/Quality-Payment-Program/Resource-Library/2019-QPP-proposed-rule-fact-sheet.pdf

To view the CY 2019 Quality Payment Program proposed rule, please visit: https://www.federalregister.gov/public-inspection/

For a fact sheet on the Medicare Advantage Qualifying Payment Arrangement Incentive (MAQI) Demonstration, please visit:https://www.cms.gov/Newsroom/MediaReleaseDatabase/Fact-sheets/2018-Fact-sheets-items/2018-07-12.html

July 12, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Health Catalyst Acquires Medicity, Extending Its Leadership as the Data Platform for Healthcare

SALT LAKE CITY, July 11, 2018 – Health Catalyst, a leader in next-generation data, analytics,  and decision support, today announced completion of its acquisition of Medicity, one of the nation’s largest population health management companies with solutions for health information exchange (HIE), business intelligence, and provider and patient engagement.

Medicity adds to the Health Catalyst customer base more than 100 clients including 21 state and regional HIEs, large employers, health plans, 75 health systems encompassing over 1,000 hospitals and more than 185,000 providers in physician groups and extended care facilities, in support of over 75 million patients. The combined company is positioned to solve many of the most pressing problems of large healthcare delivery networks as they seek to improve the quality and lower the cost of patient care across communities.

“The future of healthcare will rely on the broad and more effective use of data to improve quality and costs, and with this acquisition, Health Catalyst can combine its expertise in data, analytics and decision support, including a data asset of over 100 million patients, with the expertise of Medicity in data exchange across the continuum of care,” said Dan Burton, CEO of Health Catalyst. “Medicity’s experienced team, extensive client roster, expansive data sets, and significant transactional capabilities are a compelling complement to Health Catalyst’s team, capabilities and offerings. Together, we’re well positioned to scale and to offer solutions designed to help our clients apply data-driven insights in a value-based care environment.”

The acquisition combines Medicity’s deep clinical dataset of over 75 million patients and significant transactional capabilities with Health Catalyst’s Data Operating System (DOS™) including AI-driven analytics and business intelligence, and a broad set of financial, cost, patient outcomes, and supply chain data from over 400 hospitals, 4,000 clinics and a data set of over 100 million patients nationwide. The unique combination will empower connected communities with the insights required to improve healthcare outcomes, control costs, and advance population health management.

“The combination of Medicity with Health Catalyst represents the best of both worlds – the transactional capabilities that our customers have been asking for, along with the analytics that Medicity’s customers have sought, delivered now from one company,” said Health Catalyst President Brent Dover, who was president of Medicity before joining Health Catalyst in 2013. “We share complementary technologies, a home base in Salt Lake City, a culture of innovation, and a commitment to improving healthcare. We believe customers of both companies will benefit.”

The integration of Medicity significantly expands the capabilities of the Health Catalyst Data Operating System, which will now have the unique ability to receive and analyze data in real time, and then embed the resulting insights into the workflow of virtually every Electronic Health Record (EHR) on the market today. The combined companies will also have a compelling solution for, and expertise in, the loosely affiliated community ambulatory care management space. These organizations, primarily independent physician groups, are in dire need of a simple means of integrating data between EHRs at the patient encounter level, with enough clinical quality analytics to meet the legal requirements of a Clinically Integrated Network.

“Adding Medicity’s data skills and technology, particularly in physician-led value-based care networks, is a great complement to our solutions,” said Dale Sanders, Health Catalyst’s president of technology. “Both customer bases will benefit from this acquisition. Medicity is very skilled at delivering a high volume of data exchange transactions with high availability. Health Catalyst excels at the bulk movement, curation, and analysis of data, while Medicity has complementary data content that will enhance the precision of our AI algorithms. They have great technology for interacting with literally every EHR under the sun, which will enhance our ability to embed analytics and decision support at the point of care, regardless of who the EHR vendor is.”

Sanders added, “I’ve always been intrigued by the analytics of HIE data traffic; not the data content but rather the network analysis of message types, destinations, and the timing of those messages. We plan on combining that metadata analysis with our data content analysis for new insights into population health, referral patterns, and patient outcomes in a region.  For the promise it offers, I believe this is a good acquisition for the industry.”

About Health Catalyst

Health Catalyst is a next-generation data, analytics, and decision-support company, committed to being a catalyst for massive, sustained improvements in healthcare outcomes. We are the leaders in a new era of advanced predictive analytics for population health and value-based care with a suite of machine learning-driven solutions, decades of outcomes improvement expertise, and an unparalleled ability to unleash and integrate data from across the healthcare ecosystem. Our Health Catalyst Data Operating System (DOS™)—a next-generation data warehouse and application development platform powered by data from more than 100 million patients, and encompassing over 1 trillion facts—helps improve quality, add efficiency and lower costs for organizations ranging from the largest US health system to forward-thinking physician practices. Our technology and professional services can help you keep patients engaged and healthy in their homes, communities, and workplaces, and we can help you optimize care delivery to those patients when it becomes necessary. We are grateful to be recognized by Fortune, Gallup, Glassdoor, Modern Healthcare and a host of others as a Best Place to Work in technology and healthcare. Visit www.healthcatalyst.com, and follow us on TwitterLinkedIn and Facebook. 

July 11, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Hg Invests in Orion Health Rhapsody and Population Health Businesses

BOSTON, Massachusetts – 6 July 2018 – Orion Health Group Limited (NZX:OHE/ASX:OHE) announced that it has reached an agreement in relation to Orion Health’s Rhapsody and Population Health businesses with Hg, a specialist technology investor committed to helping build global businesses with funds of c.£10 billion under management.

The agreement is for entities managed by Hg to acquire majority ownership of Orion Health’s Rhapsody business and to invest in Orion Health’s Population Health business.

Healthcare technology is a core investment area for Hg, having recently completed a number of transactions across the sector. This investment will be made from Hg’s Mercury 2 Fund.

Orion Health built the first Rhapsody integration engine in the late-1990s quickly becoming one of the most recognized interoperability platforms for healthcare organizations today. The combination of Rhapsody’s global team and Hg’s resources will extend Rhapsody as a leader in the interoperability platform space, building on both Rhapsody’s world class technology and highly rated customer service.

Philippe Houssiau, an experienced global technology executive, will step in to lead the Rhapsody business. Philippe has broad experience in leading healthcare businesses, consulting and start-ups, and is formerly CEO of Agfa Healthcare, CEO of Alliance Medical and a Senior Partner with PwC.

“This investment provides Orion Health with a tremendous opportunity to deliver on our vision for customers, our people and for the healthcare sector,” said Ian McCrae, Founder and CEO, Orion Health. “The Board and I believe that Hg is the right partner to accelerate the expansion of Rhapsody and support our vision for our Population Health business.”

“Hg has been researching the theme of interoperability and population health management in healthcare IT over many years,” said David Issott, Partner, Hg. “We believe this is a key global growth theme backed by substantial market funding and resources. Rhapsody provides fantastic products and services for this market and we look forward to partnering with the team at Rhapsody to maximize its potential across the globe. We are also excited to work with Ian and the team to realize the full potential of the Population Health business.”

“Rhapsody is a high-quality business with strong underlying fundamentals and a solid pipeline of new business,” said Philippe Houssiau, CEO Rhapsody. “We believe that the current healthcare market dynamic, with increasing requirement for ‘data liquidity’, presents Rhapsody with a real opportunity for further growth and a solid base for sustained performance. With a focused leadership team and the investment provided by Hg, Rhapsody will be able to leverage its core markets whilst expanding into selected and emerging segments.”

Full details of the transaction can be found in a Market Release on the investor page of Orion Health’s website here. Summary:

–          Hg will acquire Rhapsody for NZ$205 million funded by debt and equity arranged by Hg. Orion Health will then utilize circa NZ$28 million of the transaction proceeds to acquire an ongoing 24.9% shareholding in the Rhapsody business.

–          Hg will also acquire a 24.9% stake in Population Health by investing circa NZ$20 million in that business. Orion Health will invest around NZ$12 million of the Rhapsody transaction proceeds in Population Health based on an agreed enterprise value of NZ$50 million (on a cash free and debt free basis) together with NZ$30 million of net cash to fund ongoing operations.

–          Orion Health will continue to own 100% of its Hospitals business.

–          Following completion of the Hg Transaction, Orion Health will undertake a share buyback offer at an estimated price range of $1.24-$1.29 per share, with the final offer price dependent on Orion Health’s available cash immediately following completion taking into account transaction costs and working capital adjustments in relation to the Rhapsody transaction. Shareholders will have the option to accept the share buyback offer in respect of all or a specified proportion of their Orion Health shares.

–          The bottom of the estimated buy back price range represents a premium of 46% to the closing price per Orion Health share of $0.85 on 2 July 2018 and 55% to the volume weighted average trading price over the last 20 trading days.

The injection of capital will provide investment for Orion Health to build leading global technology for the healthcare sector.

“As the healthcare sector evolves, so too has Orion Health. We believe the biggest advances in healthcare technology will come from a range of capabilities including advanced analytics and better data flow to address critical issues within the sector. In the face of growing and aging populations and the rise of chronic diseases, health systems the world over are under enormous strain. Our Population Health and Hospitals solutions are focused on helping healthcare organizations turn data into insights and clinical action and allow them to use this knowledge to optimize budgets and provide targeted patient care.

“This injection of capital will advance Orion Health’s businesses to reach their full potential over time. For our Population Health business, it will help strengthen our position as a market leader, and for our Hospitals business, it will further support its growth,” said McCrae.

The transaction is subject to a number of conditions, including regulatory approval and the share buyback offer by Orion Health’s shareholders. A notice of meeting describing the Hg Transaction and the share buyback offer will be circulated to shareholders. The independent directors have also commissioned an independent report from KordaMentha.

“This transaction is an important stepping stone in Orion Health’s efforts to build a solid and competitive business and provides our shareholders with choice in relation to their investment,” said Andrew Ferrier, Chairman of the Board, Orion Health. “We believe that providing shareholders both the option to cash-out at a substantial premium to the current trading price and the opportunity to elect to maintain an ongoing investment in Orion Health, including its 24.9% stake in Rhapsody and 75.1% stake in Population Health, is in the best interests of shareholders. This transaction has strong support from Orion Health’s Board and major shareholders.”

About Orion Health
Orion Health (NZX:OHE/ASX:OHE) is a health technology company that provides solutions which enable healthcare to over 110 million patients globally. Its open technology platform, Orion Health Amadeus, seamlessly integrates all forms of relevant data to enable population and personalized healthcare around the world. The company is committed to continual innovation to cement its position at the forefront of precision medicine. For more information visit www.orionhealth.com.

About Hg
Hg is a sector expert investor, committed to helping build ambitious businesses across the technology, services and industrial technology space, primarily in Europe. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established position within a niche, and which have the potential to grow faster than their market, create employment and become the leader in their industry. Hg’s dedicated operations innovation team provides practical support to management teams to help them realise their growth ambitions. Based in London and Munich, Hg has funds under management of c. £10 billion serving some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com

July 9, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

AdvancedMD Completes Acquisition of NueMD

AdvancedMD further solidifies position as market-leading cloud platform

July 9, 2018 – South Jordan, Utah-based AdvancedMD, the creator of Rhythm, an end-to-end cloud platform that automates all aspects of clinical and business workflow for independent physician practices and medical billing services, today announced that it has acquired Marietta, Georgia-based Nuesoft Technologies (“NueMD”). The transaction adds to AdvancedMD’s leading market position and extends the feature and functionality both companies will be able to provide practices across the broader ambulatory market.

With over half of independent medical practices still on legacy on-premise software, AdvancedMD continues to benefit from discrete, disconnected workflow moving to a unified end-to-end platform that combines next generation electronic health records and practice management with automated patient engagement applications. By adding NueMD to the AdvancedMD platform, NueMD clients now gain access to a much broader, feature-rich platform with unified clinical and patient engagement solutions. In addition, AdvancedMD clients will benefit from NueMD’s clearinghouse capabilities which further expand upon its unified platform and continue to enhance the value proposition and client experience. With the NueMD acquisition closed, AdvancedMD continues to evaluate further M&A to accelerate its organic growth strategy.

“The acquisition of NueMD is the logical next step for expanding our cloud network of practitioners and physicians who have learned to use end-to-end workflow automation to improve their bottom line and the health of their patients,” said Raul Villar, chief executive officer of AdvancedMD. “NueMD has been a formidable competitor for many years and now we are combining our capabilities to deliver better products and services for all of our clients. We are also extremely excited about adding experienced HCIT experts to the AdvancedMD team and extending our geographic footprint in the Atlanta metro area.”

“We have been on a path similar to AdvancedMD since the beginning,” said Massoud Alibakhsh, CEO and founder of NueMD. “Together, we have tremendous capabilities to disrupt traditional solutions offered to independent physicians, solve the most difficult challenges our practices face and provide them with even better service. AdvancedMD is the category leader and we are excited to be joining forces to become the premier company serving the ambulatory sector with a unified cloud platform built for physicians.”

As a result of the transaction, AdvancedMD’s North American footprint will increase by 27%, expanding the total number of medical practice clients and practitioners to 11,000 and 33,000, respectively. AdvancedMD will retain NueMD offices in Marietta, Georgia.

AdvancedMD is owned by Marlin Equity Partners, a global investment firm with over $6.7 billion of capital under management.

About AdvancedMD

AdvancedMD revolutionized medical office software in 1999 with the introduction of the industry’s first true cloud solution. Today, the company continues to lead MedTech innovation with Rhythm, a complete cloud suite of smart applications that work in unison, accelerating collaborative workflow for every role of the practice. With Rhythm, staff members are empowered to thrive in the online age of healthcare and value-based reimbursement with essential clinicalfinancialpatient engagement and reputation management applications that are unified and available anytime, anywhere on any device. AdvancedMD strives to be the technology heartbeat of healthcare for providers, patients and payers for a healthier world. Visit www.advancedmd.com.

About NueMD

NueMD is a multi-tenant, SaaS platform providing practice management, clinical and medical billing applications to simplify all aspects of running an independent practice.  NueMD clients operate more efficiently and profitably leveraging NueMD’s innovative direct to payer clearinghouse that delivers same day claims processing to practices in nearly all specialties. NueMD also offers medical billing outsourcing services and has 340 medical billing company partners who leverage the NueMD platform to process claims and provide transparency and practice management automation to their clients.

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 130 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.

I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

API Integration Presents Opportunity for EMR Companies

Fullscript is an online platform that helps integrative medical practitioners dispense and e-prescribe over 20,000 professional-grade supplements, without the need for physical inventory. Its user-friendly workflow and advanced prescribing tool has made Fullscript a leader in the integrative medical e-prescribing space.

With the recent addition of a fully accessible Application Programming Interface (API), the entire Fullscript catalog is now available for integration with industry software partners.

There are currently over 1,000 vendors that offer an EMR software platform. The majority of EMR platforms offer a pharmaceutical e-prescribing solution, however, few offer a nutraceutical e-prescribing solution.

By providing the capability for EMR platforms to integrate with the Fullscript user experience, practitioners can choose the best interventions for their patients, whether that be pharmaceutical and/or nutraceutical/supplement.

“Practitioners are busy! They shouldn’t have to jump back and forth between Fullscript and their EMR to do their work. Our API allows EMR’s to take the best of Fullscript and build it into their platforms with a seamless integration. That way practitioners get the best of both worlds.”

  • Kurtis Funai, VP Engineering – Fullscript

Current Fullscript EMR partners have developed the ability for practitioners to integrate and e-prescribe nutraceuticals in as little as 4 weeks, making it a simple solution and competitive differentiator in a highly competitive EMR software market.

Three partners have launched the integration, with several more in development. The expectation by the end of 2018 is that more than 15 EMR platforms will have developed a Fullscript integration.

Are you an EMR company looking for access to the Fullscript API?

Contact our team now (email:integrations@fullscript.com.) We’d love to chat.

Interested but want to learn more? Click here.

June 25, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Inspirata Acquires Health Analytics Company, Caradigm; Plans to Use its Award-Winning Platform to Accelerate Development of its Cancer Information Data Trust

Inspirata will continue to evolve Caradigm’s population health management solutions and support existing customers, and has aggressive plans to create new customers in this space.

Redmond, WA, June 13, 2018 (GLOBE NEWSWIRE) — Cancer informatics and digital pathology workflow solution provider Inspirata®, Inc. announced today that it has acquired Redmond, WA-based Caradigm from GE Healthcare.

The company’s award-winning Caradigm Intelligence Platform (CIP) and population health management software portfolio spans data control; healthcare analytics; and care coordination and engagement across the entire healthcare enterprise, including large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers and community hospital networks.

“Caradigm has built a highly regarded, industry-proven big data health analytics platform,” says Inspirata CEO Satish Sanan. “Our goal is to leverage the core strengths of this platform to accelerate our Cancer Information Data Trust (CIDT) development. The CIDT will address key trends in oncology care providing important new insights for clinicians, researchers, drug discovery and cancer center operations. In addition to this, Caradigm’s strong population health product set and experienced team will have Inspirata’s specialized focus and attention to promote long-term sustainability, growth and innovation as we redouble our focus on delivering superior value to all customers.”

“We are confident that Inspirata will be able to provide the intense focus and vision needed for growth through key investments in technology, infrastructure and people to energize the Caradigm software portfolio to better enable us to serve customers’ evolving needs,” says Caradigm President and CEO Neal Singh. “The healthcare ecosystem is in dire need of change. With Inspirata, Caradigm can bring that change for providers and advance the health of the patients they serve.”

Caradigm provides an open and a flexible platform that builds a data foundation to meet the evolving demands of a dynamic healthcare environment. Caradigm Intelligence Platform aggregates data across clinical, social, operational and financial sources from disparate source systems – electronic health records, billing systems, payers, claims, pharmacy systems, labs and HIEs, coupled with the need for timely information at the point of care to address a longstanding challenge for healthcare organizations. Caradigm also provides a suite of applications for improving the patient experience of care, improving the health of populations and reducing the per capita cost of healthcare. Caradigm population health solutions enable providers to deliver the appropriate care to patients through effective coordination and patient engagement, improving outcomes and financial results.

About Inspirata, Inc.

Inspirata®, Inc. provides oncology diagnostics workflow solutions that span digital pathology; diagnostic and predictive assays; and precision medicine. It also offers cancer informatics workflows that, in combination with its natural language processing and artificial intelligence algorithms structures unstructured case files and clinician notes to provide key insights for clinical and operational activities as well as cancer reporting. Inspirata’s flagship solution is its Cancer Information Data Trust (CIDT) that generates a longitudinal view of oncology patients—from diagnosis, through treatments and therapies, to outcomes. The CIDT has extensive applications in clinical decision support, research, education, drug discovery and clinical trials enrollment. Its use will extend to physicians, patients, researchers, pharma and others. For more information, please visit www.inspirata.com or contact info@inspirata.com.

About Caradigm

Until its acquisition by Inspirata today, Caradigm was a GE Healthcare Company offering intelligent healthcare analytics and population health management solutions. Caradigm is dedicated to improving patient care, advancing the health of populations and reducing healthcare costs. Its enterprise software portfolio encompasses all capabilities critical to delivering effective population health management, including data control; healthcare analytics; and care coordination and engagement. Caradigm’s customers include large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers, and community hospital networks. Based in Redmond, WA, Caradigm received the Frost & Sullivan 2017 North American Health IT Value-Based Care Management Product Leadership Award. For more information, visit our website.

June 13, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.