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Verscend Technologies, Inc., Completes Acquisition of Cotiviti Holdings, Inc.

The combined healthcare information technology company plans to operate privately as Cotiviti, with Dr. Emad Rizk as president and chief executive officer

ATLANTA & WALTHAM, Mass. — August 27, 2018 — Verscend Technologies, Inc. (“Verscend”), a portfolio company of Veritas Capital (“Veritas”) and a leader in data-driven healthcare solutions, has completed its acquisition of Cotiviti Holdings, Inc. (“Cotiviti”), a leading provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry. Emad Rizk, M.D., current president and chief executive officer of Verscend, will retain these titles for the combined business. The combined private company plans to operate under the Cotiviti name.

Cotiviti will operate as a healthcare information technology company able to apply multidimensional analytic insights, deep market expertise, and high-performance services to help its clients reshape the economics of healthcare. The new Cotiviti sits at the intersection of payers’ most critical programs that affect financial performance: payment accuracy; fraud, waste, and abuse management; risk adjustment; quality improvement and reimbursement; population health management; and high-value network performance. By combining some of the most robust financial and clinical data in the industry, Cotiviti will have unique insight into the healthcare system. The company’s combined intellectual capital, data assets, client base, and subject-matter expertise extend its leadership in healthcare’s rapidly changing landscape.

“Both companies are customer-driven innovators that share a similar mission: to help our clients improve healthcare affordability, reduce waste, and identify the best path to better outcomes,” said Dr. Rizk. “With our new capabilities across payment, quality, risk, and the combination of clinical and financial data, Cotiviti will be unmatched in its ability to create differentiated value for its clients.”

The acquisition of Cotiviti is the latest by Veritas Capital, which also recently acquired GE Healthcare’s Value-Based Care Division and has made previous investments in Truven Health Analytics as well as Verscend. According to chief executive officer and managing partner Ramzi Musallam, the Verscend-Cotiviti combination is a strong fit for its investment strategy.

“A core tenet of Veritas’ investment philosophy is identifying organizations that are positioned to have transformational impact in their respective domains. We see the combination of Cotiviti and Verscend as bringing much needed precision and insight to the healthcare system,” Musallam said. “We expect that the two companies’ complementary data sets, analytical capabilities, and industry expertise will accelerate forward momentum for the new Cotiviti through smarter, faster solutions that address rising costs, eliminate waste, and speed quality improvement for the healthcare industry overall.”

Under the terms of the agreement, Cotiviti shareholders will receive merger consideration in the amount of $44.75 in cash for each share of Cotiviti common stock they hold (without interest and subject to any applicable withholding taxes or other amounts required to be withheld therefrom under applicable law). American Stock Transfer & Trust Company has been appointed as paying agent in connection with the merger and will be mailing a letter of transmittal to all Cotiviti shareholders of record within two business days. The letter of transmittal will instruct shareholders on how to surrender their shares of Cotiviti common stock in exchange for the merger consideration.

The transaction was announced on June 19, 2018, and received approval from Cotiviti shareholders on August 24, 2018. As a result of the completion of the transaction, shares of Cotiviti common stock were removed from listing on the New York Stock Exchange (“NYSE”), with trading in Cotiviti shares suspended prior to the opening of business today.

About Cotiviti

Following the Verscend-Cotiviti combination, Cotiviti will be a leading information technology and analytics company that is reshaping the economics of healthcare, helping its clients uncover new opportunities to unlock value. Cotiviti’s solutions are a critical foundation for healthcare payers in their mission to lower healthcare costs and improve quality through higher-performing payment accuracy, quality improvement, risk adjustment, and network performance management programs. The company also supports retail and life/legal industries with data management and audit services that improve business outcomes. For more information, visit www.cotiviti.com.

About Veritas Capital

Veritas is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.

August 27, 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.

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.

The SSI Group Announces Acquisition of ICA

Combination of administrative, financial, and clinical information exchange services enhances ability to meet the evolving needs of the healthcare industry

MOBILE, ALMarch 1, 2018The SSI Group, an industry leader in revenue cycle management (RCM) solutions, has announced the acquisition of Informatics Corporation of America (ICA), a leader in the aggregation and exchange of patient clinical data under the brand name of CareAlign.

The combined expertise and information services will help a diverse set of healthcare organizations improve their ability to address the growing need to combine administrative, financial, and clinical data driven by changes in healthcare delivery and payment models. SSI will continue to support the needs of HIEs and other healthcare organizations that need to aggregate and exchange patient clinical data through the CareAlign suite of products. Additionally, SSI will create new solutions derived from the integration of their administrative and clinical data services.

“The integration of the CareAlign solutions into the SSI services platform will provide SSI the ability to expand the breadth of health information exchange services offered to our clients,” said Jimmy Lyons, CEO and President of SSI. “SSI has 30 years of experience in the development and delivery of EDI clearinghouse services to support the information exchange requirements of our revenue cycle clients. The expertise gathered from the operations of this network, which connects thousands of providers and payers daily, can be leveraged to address the growing demand for clinical data exchange.”

Jeff Miller, Chief Product Officer at SSI adds, ”Integrating clinical information with the administrative and financial data used by SSI revenue cycle solutions will be critical in responding to the changes in payment models represented by value-based reimbursement programs like MACRA.” As these models evolve, healthcare business leaders will demand solutions that can provide a more holistic view of the operational aspects impacting revenue performance.

Ben Rooks, Managing Principal of ST Advisors observed, “SSI’s been a client since 2017 and we have discussed how to grow its breadth of services. Health networks sponsored by HIEs, provider communities, and health plans can meaningfully improve patient care while lowering the costs to deliver it. This expansion into clinical data will provide SSI clients with a complete view of their patients, marrying the clinical and financial.”

ICA was headquartered in Nashville, TN, and SSI has decided to keep the office and establish a local presence. “With the concentration of healthcare in the Nashville area, it was always in our plans to open a regional office there. We look forward to growing the office and establishing a presence in Nashville,” added Mr. Lyons.

SSI will be attending the HIMSS18 annual conference, March 5-9 in Las Vegas, Nevada, at booth #1929. For more information about SSI, visit www.thessigroup.com.

About SSI:

SSI delivers solutions that increase the accuracy and velocity of data exchange among healthcare providers and payers, with the highest levels of security. A privately held company since its founding 30 years ago, SSI is singularly focused on the healthcare industry. SSI’s commitment to our clients’ success is evident with nearly 50% of our clients relying on SSI solutions for 10 years or more. Our revenue cycle, EDI gateway, and clinical data interoperability solutions are among the best in the industry and help our clients effectively and efficiently manage their clinical and claims data. Learn how we can help you at www.thessigroup.com.

March 1, 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.

Insight Venture Partners Invests $26M Series B in LeanTaaS to Fuel Growth of Healthcare Operations Platform

Predictive Analytics and Machine Learning Technology Lowers Wait Times, Increases Patient Access and Improves Operational Performance

SANTA CLARA, Calif. — Nov. 14, 2017 — LeanTaaS, Inc., a Silicon Valley software innovator that increases patient access and transforms operational performance for healthcare providers, today announced that new investor Insight Venture Partners, a leading global venture capital and private equity firm, has invested $26 million in a Series B round of financing.

“Healthcare is a difficult space in which to bring about radical change,” said Jeff Horing, co-founder and managing director of Insight Venture Partners. “We are impressed by the quality of deep customer partnerships, the product portfolio and the team that LeanTaaS has assembled.”

The company’s solutions — relied upon by more than 40 of the nation’s leading hospitals and infusion centers — use lean principles, predictive analytics, machine learning and the cloud to dramatically improve the patient experience. LeanTaaS customers have reduced wait times for appointments and surgeries by up to 50 percent, increased patient access by as much as 30 percent and improved operational performance up to 20 percent through increased revenue and reduced costs.

The mathematical foundation on which patient appointments are scheduled is fundamentally flawed. As a result, expensive assets like infusion chairs, operating rooms, diagnostic imaging equipment and inpatient beds are commonly over- and underutilized, often on the same day.

LeanTaaS has quickly emerged as the leader in using advanced data science and mathematics to address this perplexing paradox. The company’s patent-pending algorithms help providers do more with existing assets and defer investments in additional staff, equipment and facilities. LeanTaaS solutions also improve surgeon access to valuable operating room time, lower wait times for patients and level-load the day for anesthesiologists, nurses and staff.

“We are privileged to work with many of the leading health systems in the country to demonstrate the impact of combining lean principles, predictive analytics and scalable software to drive significant improvements in operational performance and asset utilization,” said Mohan Giridharadas, founder and CEO of LeanTaaS. “This investment from Insight Venture Partners is a strong validation of our approach and will enable us to dramatically accelerate our growth over the coming years.”

The financing will fund continued investment in the LeanTaaS iQueue platform, which currently consists of two solutions: iQueue for Infusion Centers and iQueue for Operating Rooms. In May 2017, the company also established iQueue Labs, which explores answers to emerging, significant operational challenges in diagnostic imaging departments, emergency departments, pharmacies, labs and inpatient beds. The iQueue platform is a cloud service that works with any electronic health record and requires only minimal assistance by the provider’s internal IT staff to set up and use.

LeanTaaS joins an Insight Venture Partners portfolio that already boasts five companies on Inc.’s annual ranking of the fastest-growing private companies in America.

About LeanTaaS

LeanTaaS provides software solutions that combine lean principles, predictive analytics and machine learning to transform hospital and infusion center operations. More than 40 providers across the nation rely on the company’s iQueue cloud-based platform to increase patient access, decrease wait times, reduce healthcare delivery costs and improve revenues. LeanTaaS is based in Santa Clara, California.  For more information about LeanTaaS, please visit www.leantaas.com, and connect on Twitter/LeanTaaSFacebook/LeanTaaSand LinkedIn/LeanTaaS.

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.

November 14, 2017 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.

Arcadia Healthcare Solutions Announces $30MM New Investment

Merck Global Health Innovation partners with GE Ventures and existing investors to scale leading healthcare data and advanced analytics company

BURLINGTON, Mass.– Arcadia Healthcare Solutions (“Arcadia” or the “Company”) announced today that the Merck Global Health Innovation Fund (“Merck GHI”), GE Ventures, and existing investors Peloton EquityZaffre Investments, and Morgan Stanley Alternative Investment Partners have invested $30 million of growth capital in the Company.

With over 60 enterprise customers, Arcadia is a leading healthcare data aggregation and analytics technology company with a focus on serving ambulatory networks affiliated with large payer and provider organizations, including health plans, accountable care organizations, integrated delivery networks, and large independent physician groups, among others.

Arcadia’s technology and services enable its customers to successfully drive value-based performance management programs as American healthcare shifts to a new paradigm. Arcadia is led by chief executive officer Sean Carroll, a longtime executive with over 25 years of experience in the health IT industry.

“Having Merck GHI and GE Ventures join existing investors in this round of growth capital is the optimal outcome for us,” said Carroll. “The rigorous process expands our team of blue chip investors who actively support their companies’ growth plans.”

“Arcadia fits perfectly with our initiatives supporting the transition to value based care. Arcadia’s deep expertise in transforming isolated data into critical insights that enable providers to close gaps in care and enable better outcomes is central to our investment hypothesis around Population Health,” stated Joel Krikston, Managing Director at Merck’s Global Health Innovation Fund.

“GE Ventures is excited to back Arcadia in becoming an industry leader to help payers and providers apply advanced analytics to their business models. We’re especially proud to invest in this highly experienced Boston-based team, which is now home to GE’s headquarters,” said Noah Lewis, Managing Director of healthcare at GE Ventures.

The investment allows the company to accelerate its robust product development plans in the core Arcadia Analytics platform and expand population health management market activities across the country. While the company will continue to focus on organic growth, Arcadia has made two successful acquisitions since its founding—Concordant, an EHR support services company in 2011 and Sage Technologies, a managed care services company in 2015.

“Our transformation from a proven consulting firm to a recognized, technology-led population health analytics company is complete as noted by industry experts such as KLAS ResearchGartner, and Chilmark Research,” said Carroll. “We see a bright future for our customers, investors, and team members.”

The capital raise process was managed by Robert W. Baird and supported by counsel Goodwin Proctor.

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About Merck Global Health Innovation Fund

Merck Global Health Innovation (GHI) Fund (www.merck.com/ghi) invests in emerging companies that deliver breakthrough healthcare solutions which advance Merck’s mission to discover, develop, and provide innovative products and services that save and improve lives. Established in 2010, the GHI Fund deploys its evergreen $500 million fund to rapidly identify and develop transformative global health care opportunities. GHI is focused on identifying opportunities that are adjacent to Merck’s core business of pharmaceuticals and vaccines.

About GE Ventures

GE Ventures (www.geventures.com) is committed to identifying, scaling, and accelerating ideas that will make the world work better. Focused on the areas of software, advanced manufacturing, energy, and healthcare, GE Ventures helps entrepreneurs and start-ups succeed by providing access to GE’s technical expertise, capital, and opportunities for commercialization through GE’s global network of business, customers, and partners. GE Ventures offers an unparalleled level of resources through its Global Research Center, including: 35,000 engineers; 5,000 research scientists; 8,000 software professionals; as well as 40,000 sales, marketing, and development resources in over 100 countries.

About Peloton Equity

Peloton Equity, LLC (http://www.pelotonequity.com) is a newly-formed private equity firm that focuses exclusively on growth capital investments in the lower middle market of the healthcare industry. Peloton’s portfolio includes HealthPlanOne, a leading technology-enabled digital marketing firm specializing in Medicare and individual and family health insurance sales and distribution. Peloton leverages its extensive healthcare network, value-building diligence and investment process, and portfolio management playbook to add value to its portfolio companies. Peloton seeks companies with between $20 and $200 million of revenue and the management team, market opportunity and business model to grow revenues meaningfully over the life of its investment.

About Zaffre Investments

Zaffre Investments, LLC (http://www.zaffreinvestments.com/) is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts that is committed to adding value through investments in new products, services and technologies that aim to improve the way healthcare is delivered and received. Zaffre focuses on companies across the healthcare landscape, with a primary focus on ACOs, consumer solutions, health information technology, and behavioral health. The firm is stage agnostic, considering a company’s financial and market positions, capabilities, and core values, as well as their missions and visions for the future. Zaffre employs a true partnership model for its portfolio companies, providing strategic direction, business support, industry connections and more.

About Morgan Stanley Alternative Investment Partners

Morgan Stanley Alternative Investment Partners (http://www.morganstanleyaip.com), part of Morgan Stanley Investment Management, specializes in assisting institutional and high net worth investors achieve their goals through the design and management of alternative investment programs. Established in 2000, Morgan Stanley AIP currently has approximately $36.4 billion in assets under management and advisement.

About Arcadia Healthcare Solutions

Arcadia Healthcare Solutions (http://www.arcadiasolutions.com) is an EHR data aggregation and analytics technology company supporting ambulatory networks taking on risk and transitioning to value- based care. Arcadia specializes in integration of data from over 30 EHR vendors, enriching it with claims and operational data, and using that data to drive improvements in patient care quality, practice efficiency, and financial performance. Trusted by independent provider groups, health plans, and integrated delivery networks nationwide, with expertise in both fee-for-service optimization and value- based performance environments, Arcadia supports providers with the benchmark data, insights, and outsourced services to excel in the evolving landscape of American healthcare. Founded in 2002, Arcadia is headquartered outside Boston in Burlington, MA, with offices in Seattle, Pittsburgh, and outside Chicago in Rockford, IL.

January 6, 2017 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 Eliminates Client Restrictions on Solicitation and Hiring in its Contracts

Salt Lake City – June 21, 2016 Health Catalyst, a leader in healthcare data warehousing, analytics and outcomes improvement, today announced it is eliminating the provision in its standard client service contracts that prohibits its clients from soliciting for hire or hiring Health Catalyst team members.  Health Catalyst will continue to honor restrictions preventing solicitation of client employees by Health Catalyst.

“We are committed to working with our clients as long-term partners, and focusing on long-term customer success is our first operating principle,” said Dan Burton, CEO of Health Catalyst. “Our contractual restriction to prevent clients from soliciting or hiring our team members puts up a wall between us and our clients that could inhibit our work together. We want to eliminate any barriers that might prevent our clients from achieving and sustaining clinical and financial outcomes improvements.”

This is Health Catalyst’s second move in recent months to cement a culture of open collaboration and partnership among its clients and its team members. In May, the company officially removed the non-compete provision from its standard employment agreements that prohibited its team members from being employed by organizations that compete with Health Catalyst following employment with Health Catalyst, and announced that it would not seek to enforce such non-compete provisions in existing employment agreements.

“Our company’s purpose is to enable outcomes improvement at scale,” Burton continued. “If in some instances that purpose can be furthered by our clients hiring one of our team members, and this is of interest to our team members then we don’t want to prevent that. In fact, we view it as a sincere compliment when our clients value our team members’ contributions so highly that they express interest in hiring our team members.  Ultimately, we hope each of our team members remains committed to enabling outcomes improvements at scale, whether as a team member or as an alumni of Health Catalyst.  We seek to enable our team members’ long-term career success whether inside or outside the company.”

The decision to eliminate client obligations in non-solicitation clauses supports a client-focused culture that has been acknowledged by Health Catalyst clients and by third-party industry analysts. In its latest report on healthcare business intelligence, Enterprise Healthcare BI: The Search for Outcomes,”  KLAS Research revealed that Health Catalyst’s “strategy of prioritizing client relationships and outcomes result[ed] in the highest client reviews of any vendor for insights and outcomes.”

The decision also supports a work culture that has received recognition as one of the nation’s best from organizations including Gallup, Glassdoor, Modern Healthcare, Becker’s Healthcare and Rock Health.

About Health Catalyst

Health Catalyst is a mission-driven data warehousing, analytics and outcomes-improvement company that helps healthcare organizations of all sizes perform the clinical, financial, and operational reporting and analysis needed for population health and accountable care. Our proven enterprise data warehouse (EDW) and analytics platform helps improve quality, add efficiency and lower costs in support of more than 70 million patients for organizations ranging from the largest US health system to forward-thinking physician practices. For more information, visit https://www.healthcatalyst.com, and follow us on Twitter, LinkedIn and Facebook.

June 21, 2016 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.

Survey: Hospitals Progressing Slowly toward Medicare’s Goal of 50 Percent Value-Based Reimbursement by 2018

Respondents cite analytics as most important success factor for value-based reimbursement

SALT LAKE CITY – MAY 9, 2016 – Fewer than a quarter of U.S. hospitals are on track to hit the Obama Administration’s 2018 goal of providing at least half their patient care through so-called “value-based” arrangements – structures that tie reimbursement from Medicare to the quality of care patients receive.

That is one finding of a new online survey of healthcare executives representing 190 U.S. hospitals with a total of more than 20,000 licensed beds. The survey by Health Catalyst revealed that just 3 percent of health systems today meet the target set by the Centers for Medicare and Medicaid Services (CMS). Only 23 percent expect to meet it by 2019, a year after CMS had hoped that half of all Medicare reimbursements would be value-based.

According to the survey, the majority of health systems—a full 62 percent—have either zero or less than 10 percent of their care tied to the type of risk-based contracts identified by CMS as “value-based,” including Medicare accountable care organizations (ACOs) and bundled payments. Not surprisingly, small hospitals with fewer than 200 beds comprised the majority of those reporting no at-risk contracts. A contributing factor may be that smaller hospitals are five times less likely than larger organizations to have access to sufficient capital to make risk-based contracting work, according to the survey.

Despite lagging behind the federal government’s goal, healthcare executives across the board intend to steadily increase value-based care and at-risk contracts. In the next three years, all but 1 percent of respondents expect their organizations to be engaged in at-risk contracts. Sixty-eight percent said they expect risk-based contracts to account for less than half their total care in that time frame. Only 23 percent expect value-based care to account for more than half of their care in the next three years. Eight percent of respondents said they could not predict the answer.

Analytics tops the list of must-haves

The most important organizational element needed for success with risk-based contracting is analytics, said responding executives at both small and large hospitals. In fact, 52 percent of respondents cited the prime importance of analytics, more than double the second most-selected answer: a culture of quality improvement. Twenty-four percent of respondents cited cultural alignment on quality as having the most impact on value-based care success.

“Transitioning from fee-for-service reimbursement to value-based payments is a goal that many healthcare organizations embrace but are having difficulty implementing as they juggle a number of other high priorities,” said Bobbi Brown, Health Catalyst vice president of financial engagement. “This survey reveals that they’re making progress but they could use a little help – some of it financial and some of it technical in the way of better analytics to help identify at-risk populations and better manage their risk. The bottom line seems to be that while progress is slow, healthcare leaders are committed to making value-based care work.”

Survey results reflect the opinions of 78 healthcare professionals who responded to an online survey by Health Catalyst in May 2016. Over half of the respondents (51 percent) were CEOs or CFOs of large hospital-owned physician groups and hospitals ranging in size from 15 acute care beds to over 1,000 beds. The remaining respondents all held executive roles, including several Chief Medical Information Officers, Chief Medical Officers and Chief Nursing Officers.

The organizations represented include many well-known multi-hospital and multi-state health systems with a cumulative 756 inpatient and outpatient facilities and 20,416 acute care beds.

About Health Catalyst

Health Catalyst is a mission-driven data warehousing, analytics and outcomes-improvement company that helps healthcare organizations of all sizes perform the clinical, financial, and operational reporting and analysis needed for population health and accountable care. Our proven enterprise data warehouse (EDW) and analytics platform helps improve quality, add efficiency and lower costs in support of more than 70 million patients for organizations ranging from the largest US health system to forward-thinking physician practices. For more information, visit https://www.healthcatalyst.com, and follow us on Twitter, LinkedIn andFacebook.  

June 9, 2016 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.

Healthcare Providers’ Analytics Needs Remain Ahead of Vendor Capabilities

Chilmark Research’s latest report finds that the pace of development of analytics solutions has yet to match the pace set by rapidly changing payment models.
 

Boston, MA, February 3, 2016 -Chilmark Research’s latest report, 2016 Analytics for Population Health Management Market Trends Report, reveals that vendor solutions are not keeping pace with the accelerating demands of a rapidly transforming industry. While vendors continue to make progress in the functional evolution of their analytics solutions, healthcare organizations (HCOs) struggle with the complexity of their data management requirements and embedding analytical insights into clinical workflows in support of strategic initiatives. This extensive update to the 2014 edition builds on Chilmark’s comprehensive review of available solutions to serve the analytics needs of HCOs to enable their Population Health Management (PHM) strategies. The report also presents a new model for understanding the value chain for clinical analytics across the enterprise.

The most important driver underlying strong growth in data analytics is the move to alternative payment models, often referred to as value-based reimbursement (VBR). Future financial success in the VBR realm requires HCOs to effectively manage risks, utilization and costs while concurrently improving quality and optimizing outcomes. Today, however, HCOs must straddle the two different payment regimes of fee-for-service (FFS) and VBR. Analytics solutions are currently focusing on helping HCOs maximize revenue (hitting quality targets) and leverage traditional FFS reimbursements (closing care gaps). A secondary objective is to help HCOs reduce medical costs (variability) and unnecessary utilization (readmissions reduction and low-acuity, non-emergent utilization).

The report points to an important, ongoing challenge – incorporating analytics into existing workflows. While vendors have made progress with analytics functionality, workflow integration ultimately keeps analytics out of the hands of clinicians who could benefit most from insights at the point of care. Today, clinicians typically exit their EHR, toggling to a clinical portal for analytically-derived insights.

Another notable finding is the relatively rapid progress made by EHR vendors in the last year. Vendors such as Cerner, Epic, and eClinicalWorks have added functionality and seen strong adoption by their customers. Independent vendors are not standing still. They continue to enhance their solutions and acquire new customers, staying one step ahead of the EHR vendors on functionality. EHR vendors, however, hold the advantage of existing customer relationships and often better ability to embed insights into clinician workflow.

According to Jody Ranck, Chilmark analyst and co-author of the report, “We still see much of the analytics market in an immature stage of development. A major obstacle is a lack of sound governance and data curation strategies that enable health care organizations to leverage their data and analytics capabilities across the entire data analytics value chain. The market is at a pivot point where we will need to see more Chief Analytics Officers and the rhetoric of ‘data-driven organizations’ manifested in reality.”

The report is available to subscribers of the Chilmark Advisory Service or may be purchased separately. For more information, visit www.chilmarkresearch.com/reports. Direct inquiries for purchase should be addressed to Sean Campbell atsean@chilmarkresearch.com.

About Chilmark Research
Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls, and are respected in the industry for our direct and thoughtful commentary. For more information visit: www.chilmarkresearch.com

Vendors Profiled: The Advisory Board Company, Aetna ActiveHealth, Aetna HDMS, Arcadia Healthcare Solutions, Caradigm, CareEvolution, Cerner Corporation, Conifer Health Solutions, eClinicalWorks, Epic Systems Corporation, Geneia LLC, Health Catalyst, HealthEC, IBM Watson Health, McKesson, Optum, Oracle, Orion Health, Premier, Inc., SAP, Tableau, Transcend Insights, Truven Health Analytics, Verisk Health, Wellcentive, Inc.

February 3, 2016 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.

Independent Practices Outperform Industry in ICD-10 Transition

Kareo handled more than 6.6 million ICD-10 claims, representing more than $735M in claims value

IRVINE, Calif.–Kareo, the leading provider of cloud-based solutions for independent medical practices, today announced that 99 percent of claims submitted in the first month of the ICD-10 coding transition were successful. Additionally, 87 percent of Kareo customers have already been paid for at least one submitted claim.

“In October, we saw close to 6.6 million electronic claims representing more than $735 million submitted through Kareo using the ICD-10 coding scheme,” said David Mitzenmacher, Vice President of Customer Success at Kareo. “Based on our data, independent practices using Kareo handled the transition with ease, a testament to their preparation efforts. Compared to results released by the Centers for Medicare and Medicaid Services (CMS) for October, practices using Kareo appear to have outperformed the larger healthcare industry in terms of the ICD-10 transition.”

Kareo also surveyed its customer base directly to gauge its experience with the transition. Based on customer responses, 57 percent of respondents considered the ICD-10 transition “easy” or “very easy.” Just three percent of respondents considered the transition “difficult,” or “very difficult.” The remaining 40 percent considered the event “moderate.”

To summarize, Kareo and its customers have seen:

  • 6.6 million ICD-10 claims submitted in the first month
  • 99% of customers submitted at least one ICD-10 claim
  • 87% of customers received payment for at least one ICD-10 claim
  • 1.4 million claims submitted in October were already paid
  • 11 days was the average time to payment for ICD-10 claims

In the years leading up to the October 1 deadline, Kareo has supported its clients through training and software upgrades to ensure independent practices were able to go through this transition without losing or significantly delaying revenue. To learn more about how Kareo is continuing to help independent practices succeed through the transition visit http://www.kareo.com/icd-10.

November 5, 2015 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.