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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.

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.

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.

healtheConnect Alaska to Improve Patient Matching and Statewide Data Exchange with NextGate

HIE network will leverage NextGate’s EMPI solution to improve patient identification and enhance care collaboration among providers throughout Alaska

PASADENA, Calif., June 12, 2017 – NextGate, a global leader in healthcare enterprise identification, announced today that healtheConnect Alaska (formerly, the Alaska eHealth Network) a leading health information exchange (HIE), has selected its Enterprise Master Patient Index (EMPI) as the foundation for enhanced care collaboration and patient identity management.

healtheConnect Alaska currently enables electronic medical records exchange and direct secure messaging services for more than 500 participants statewide, including AARP Alaska, Alaska Native Tribal Health Consortium, Premera Blue Cross Blue Shield of Alaska, Providence Health System, and the State of Alaska’s Department of Health & Social Services.

As a strategic component for population health management efforts and health information exchange activities, NextGate’s maket-leading EMPI solution will enable real-time interoperability and patient matching across health IT systems from more than 20 hospitals and 450 healthcare organizations within healtheConnect Alaska’s network, to deliver a comprehensive view of an individual’s medical record. The partnership with NextGate further strengthens the HIE’s ability to execute downstream projects including bi-directional data exchange with the Veteran’s Administration, integration with statewide behavioral health organizations, and supporting opioid and chronic illness management initiatives.

“healtheConnect Alaska is very excited to be working with NextGate to take the HIE to the next level and truly influence care quality, provider experience and, ultimately, health outcomes throughout our communities,” said Laura Young, Executive Director of healtheConnect Alaska. “Effective coordination between providers hinges on the ability to view accurate data from across the network. The EMPI Platform will play a significant role in our transformational journey toward improved care team collaboration, workflow efficiency, and the creation of a more holistic and real-time portrait of patients.”

Through NextGate’s EMPI, healtheConnect Alaska will empower participating physicians and hospitals with a longitudinal patient record at the point of care for improved coordination and clinical decision making. Patient matching algorithms in the EMPI unify and de-duplicate records from multiple sources and locations and assign each individual a unique patient identifier that serves as cross-reference for greater data exchange.

“We commend healtheConnect Alaska for prioritizing patient identity as the basis for measurable clinical and population health improvements,” said Andy Aroditis, CEO of NextGate. “Consistently connecting the right data to the right individual is a critical requirement in today’s digitized healthcare environment and NextGate is honored to support their members with a patient matching solution that reduces errors, improves patient safety, and enhances care quality, while diminishing the complexity of interoperability.”

About NextGate

With over 200 customers in four countries, NextGate is the global leader in healthcare enterprise identification. Committed to helping organizations overcome the clinical, operational and financial challenges that result from duplicate records and disparate data, our full suite of identity matching solutions connects the entire healthcare ecosystem to drive critical improvements in quality, efficiency and safety. NextGate’s market-leading EMPI currently manages 300 million lives and is deployed by the nation’s most successful healthcare systems and health information exchanges. For more information, visit NextGate.com.

About healtheConnect Alaska

healtheConnect Alaska (formerly Alaska ehealth Network) is a 501(c)(3) non-profit corporation, established by Alaska statute, and organized and managed by Alaskans. healtheconnect Alaska has been tasked by the State of Alaska’s Department of Health and Social Services to provide safe, secure transport for health information in order to improve quality and safety of patient care and increase efficiencies for hospitals and medical practices. healtheconnect Alaska provides health information exchange and direct secure messaging services to more than 20 hospitals and 450 healthcare organizations across Alaska. Benefits to these organizations include: confidential and timely access to patient’s medical history no matter where a patient receives care; rapid medical record search for historical patient data, augmenting diagnosis and treatment; public health reporting assistance to meet meaningful use requirements; reduced interface costs due to a single entry point; referrals and referral documents transmitted automatically; and notifications of selected events including admission, discharge, and abnormal lab results. For more information, visit www.ak-ehealth.org

June 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.

ResMed to Acquire HEALTHCAREfirst, a Cloud-based Software and Services Provider for Home Health and Hospice Agencies

The acquisition strengthens ResMed’s software-as-a-service (SaaS) solutions for homecare providers

SAN DIEGO – May 29, 2018 – ResMed (NYSE: RMD, ASX: RMD), a global leader in connected healthcare solutions, today announced it has entered into a definitive agreement to acquire privately held HEALTHCAREfirst, a provider of software solutions and services for home health and hospice agencies.

HEALTHCAREfirst offers electronic health record (EHR) software, billing and coding services, and advanced analytics that enable home health and hospice agencies to optimize their clinical, financial and administrative processes. HEALTHCAREfirst will complement ResMed’s existing software solutions offered by Brightree, a wholly owned subsidiary ranked as one of the top 100 healthcare IT companies in the United States.

“The home health and hospice segments are large and growing fast, due to the rising prevalence of chronic conditions and an aging population shifting to homecare and other lower-cost care settings,” said Raj Sodhi, president of ResMed’s SaaS business. “HEALTHCAREfirst’s solutions suite enables ResMed to help efficiently and effectively manage this growing population, benefiting patients, their families, agencies and payers.

“Joining ResMed, with their purpose of changing lives with every breath, is an exciting opportunity for our HEALTHCAREfirst team, as our joint mission is linked to improving quality of life for patients in out-of-hospital healthcare,” said J. Kevin Porter, HEALTHCAREfirst’s president and CEO. “We believe our combined resources and investment capabilities will make an even more impactful improvement on the patient experience and our customers’ business outcomes at a time when they’re under increased reimbursement and regulatory pressures.”

The transaction’s financial terms were not disclosed, but the transaction will not be material to ResMed’s consolidated financial results. The transaction is expected to be finalized before the end of the first quarter of ResMed’s fiscal year 2019 (September 30, 2018), subject to customary closing conditions, including regulatory approvals.

About ResMed

ResMed (NYSE: RMD, ASX: RMD), a world-leading connected health company with more than 5 million cloud-connected devices for daily remote patient monitoring, changes lives with every breath. Its award-winning devices and software solutions help treat and manage sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its 6,000-member team strives to improve patients’ quality of life, reduce the impact of chronic disease and save healthcare costs in more than 120 countries. ResMed.com

About HEALTHCAREfirst 

HEALTHCAREfirst provides cloud-based technologies and services to improve business and clinical operations for thousands home health and hospice providers across the United States. Based in Springfield, MO, and one of the fastest growing providers of its kind, the company provides agency and clinical management software, outsourced revenue cycle management services (billing, coding and OASIS Review), CAHPS surveys, and advanced analytics, in any combination. HEALTHCAREfirst’s breadth of solutions offers agencies a single source to improve patient care, create operational efficiencies, increase profitability and simplify CMS compliance. With HEALTHCAREfirst, agencies can focus on patients instead of paperwork. For more information call 800.841.6095 or visit healthcarefirst.com.

May 29, 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.

Black Book’s Annual Cybersecurity Survey Reveals Healthcare Enterprises Are Not Maturing Fast Enough, Processes Continue Underfunded and Understaffed

The industry is deluged with new applications, challenging systems, new devices and innovative approaches to handling and sharing data.

PRESS RELEASE  MAY 14, 2018 08:00 EDT

TAMPA, Fla., May 14, 2018 (Newswire.com) – Black Book Market Research LLC surveyed over 2,464 security professionals from 680 provider organizations to identify gaps, vulnerabilities and deficiencies that persist in keeping hospitals and physicians proverbial sitting ducks for data breaches and cyber attacks.  Ninety-six percent of IT professionals agreed with the sentiments that data attackers are outpacing their medical enterprises, holding providers at a disadvantage in responding to vulnerabilities.

A fragmented mix of 410 vendors offering data security services, core products and solutions, software, consulting and outsourcing received user feedback including large IT companies, mid and small security vendors and start-ups in the polling period Q3 2017 to Q2 2018.

Over 90 percent of healthcare organizations have experienced a data breach since Q3 2016 and nearly 50 percent have had more than five data breaches during the same timeframe.  Not only has the number of attacks increased, more than 180 million records have been stolen since 2015, affecting about one in every 12 healthcare consumers.

The dramatic rise in successful attacks by both criminal and nation-state-backed hackers illustrates how attractive and vulnerable these healthcare enterprises are to exploitation. Despite these wake-up calls, the provider sector remains exceedingly susceptible to ongoing breaches.

Budget constraints have encumbered the practice of replacing legacy software and devices, leaving enterprises more susceptible to an attack. “It is becoming increasingly difficult for hospitals to find the dollars to invest in an area that does not produce revenue,” said Doug Brown, founder of Black Book. According to 88 percent of hospital representatives surveyed, IT security budgets have remained level since 2016. As a percentage of IT organizational budgets, cybersecurity has decreased to about three percent of the total annual IT spend.

Despite the lack of earmarked funds by U.S. buyers, Black Book projects the global healthcare cybersecurity spend to exceed $65 billion cumulatively over the next five years.

A third of hospital executives that purchased cybersecurity solutions between 2016 and 2018 report they did so blindly without much vision or discernment.  Ninety-two percent of the data security product or service decisions since 2016 were made at the C level and failed to include any users or affected department managers in the cybersecurity purchasing decision. Only four percent of organizations had a steering committee to evaluate the impact of the cybersecurity investment.

“The dilemma with cybersecurity budgeting and forecasting is the lack of reliable historical data,” said Brown. “Cybersecurity is a newer line item for hospitals and physician enterprises and budgets have not evolved to cover the true scope of human capital and technology requirements yet.”

Last year’s Black Book cybersecurity survey revealed 84 percent of hospitals were operating without a dedicated security executive. As a solution to unsuccessfully recruiting a qualified healthcare chief information security officer, 21 percent of organizations opted for security outsourcing to partners and consultants or selected security-as-a-service options as a stop-gap measure.

That shortage of healthcare cybersecurity professionals is forcing a rush to acquire services and outsourcing at a pace five times more than cybersecurity products and software solutions. Cybersecurity companies are responding to the labor crunch by offering healthcare providers and hospitals with a growing portfolio of services.

“The key place to start when choosing a cybersecurity vendor is to understand your threat landscape, understanding the type of services vendors offer and comparing that to your organization’s risk framework to select your best-suited vendor,” said Brown. “Healthcare organizations are also more prone to attacks than other industries because they persist at managing through breaches reactively.”

Fifty-seven percent of IT management respondents report their operations are not aware of the full variety of cybersecurity solution sets that exist, particularly mobile security environments, intrusion detection, attack prevention, forensics and testing.

Fifty-eight percent of hospitals did not select their current security vendor in advance of a cybersecurity incident.

Thirty-two percent of healthcare organizations did not scan for vulnerabilities before an attack.

“Providers are at a severe disadvantage when they are forced to hastily retain a cybersecurity firm in the midst of an ongoing incident as the ability to conduct the necessary due diligence is especially limited,” said Brown.

Sixteen percent of healthcare organizations reported they felt intimidated by a vendor to retain services when the vendor identified a vulnerability or security flaw. “While the intrinsic nature of cybersecurity radiates pressures and urgency, hospitals shouldn’t let this dictate the vendor selection process,” said Brown.

Sixty percent of healthcare enterprises have not formally identified specific security objectives and requirements in a strategic and tactical plan. Without a clear set of security goals, providers are operating in the dark and it’s impossible to measure results.

Eighty-three percent of healthcare organization have not had a cybersecurity drill with an incident response process, despite the skyrocketing cases of data breaches in the healthcare industry.

Only 12 percent of hospitals and nine percent of physician organizations believe that a Q2 2019 assessment of their cybersecurity will show improvement. Twenty-three percent of provider organizations believe their cybersecurity position will worsen, as compared to three percent in other industries.

In 2018, 24 percent of providers still do not carry out measurable assessments of their cybersecurity status. Of those that did, seven percent used an objective third-party service to benchmark their cybersecurity status, six percent used an objective software solution to benchmark their cybersecurity status and 78 percent self-assessed with their own criteria.

Twenty-nine percent of respondents currently report they do not have an adequate solution to instantly detect and respond to an organizational attack.

Seventy-four percent of surveyed CIOs did not evaluate the total cost of ownership (TCO) before making a commitment to sign their current cybersecurity solution or service contract. Eighty-nine percent reported they bought their cybersecurity solution to be compliant, not necessarily to reduce risk when the IT decision was made.

Healthcare organizations are hyper-focused on patient care and reimbursement. “Cybersecurity risks are not on the forefront of executives’ minds,” said Brown. “Medical and financial leaders also wield more influence over organizational budgets making it difficult for IT management to implement needed cybersecurity practices despite the existing environment.”

BLACK BOOK ANNOUNCE THE 2018 TOP CYBERSECURITY SERVICES & SOLUTIONS VENDORS

Black Book Market Research LLC conducts polls and surveys with healthcare executives and front-line users about their current technology and services partners and awards top-performing vendors based on performance based on 18 qualitative indicators of client experience and solution/service satisfaction and three indicators of customer loyalty. Black Book surveyed users of 18 categories of cybersecurity vendors, consultants and advisors which produced the 2018 rankings of No. 1 performing suppliers.

AUTHORIZATION & AUTHENTICATION SOLUTIONS – FIREEYE

Other Top Authorization & Authentication Solution Vendors include: SAILPOINT, AVATIER, SECUREAUTH, AUTH0, OPTIMAL IDM, CROSSMATCH & IMPRIVATA.

BLOCKCHAIN SOLUTIONS – HASHED HEALTH

Other Top Blockchain Solution Vendors include: POKITDOK, IBM BLOCKCHAIN, HEALTHCOMBIX, MEDICAL CHAIN, HEALTH LINKAGES, GEM & BLOCK MD.

COMPLIANCE & RISK MANAGEMENT SOLUTION – CLEARWATER COMPLIANCE

Other Top Compliance & Risk Management Solution Vendors include: EY, DELOITTE, SERA-BRYNN, KPMG, COALFIRE, CYNERGISTEK & BAE SYSTEMS.

CYBERSECURITY ADVISORS & CONSULTANTS – LEIDOS

Other Top Compliance & Risk Management Solution Vendors include: KPMG, EY, SECURE DIGITAL SOLUTIONS, CYNERGISTEK, IBM, ATOS & IMPACT ADVISORS.

CYBERSECURITY TRAINING & EDUCATION – KNOWBE4

Other Top Cybersecurity Training Solution Vendors include: INSPIRED ELEARNING, DIGITAL DEFENSE, THE SANS INSTITUTE, (ISC)2, OPTIV, VANGUARD & CIRCADENCE.

DDOS ATTACK PROTECTION – IMPERVA

Other Top Cybersecurity DDOS Attack Protection Vendors include: CLOUDFLARE, F5 NETWORKS, FORTINET, ARBOR NETWORKS, NEXUSGUARD, AKAMAI TECHNOLOGIES & ROOT9B.

END POINT SECURITY SOLUTIONS – CARBON BLACK

Other Top End Point Security Solutions include: SYMANTEC, FORTINET, CHECKPOINT SOFTWARE, DUO, ABSOLUTE SOFTWARE, COUNTER TACK, TREND MICRO & MCAFEE.

ENTERPRISE ACCESS MANAGEMENT – BOMGAR

Other Top Access Management Vendors include: IMPRIVATA, TREND MICRO, MICROSOFT, CISCO, SAILPOINT, RSA SECURITY & MICRO FOCUS.

ENTERPRISE FIREWALL NETWORKS – FORTINET

Other Top Firewall Network Vendors include: SONICWALL, ZSCALER, CHECKPOINT SOFTWARE, PALO ALTO NETWORKS, CISCO, HUAWEI, FOREPOINT & SOPHOS.

HEALTHCARE DATA ENCRYPTION – ONPAGE

Other Top Data Encryption Vendors include: SENETAS, THALES, DATA LOCKER, SYMANTEC, SOPHOS, CHECKPOINT SOFTWARE, TREND MICRO, FLEXENTIAL, VIRTRU & APRICORN.

INTRUSION PROTECTION SOLUTIONS – IMPERVA

Other Top Intrusion Protection Solution Vendors include: CISCO, INTEL SECURITY (MCAFEE), TREND MICRO TIPPING POINT, IBM, PALO ALTO NETWORKS, ALERT LOGIC, HEWLETT PACKARD & EXTREME NETWORKS.

MEDICAL DEVICE & INTERNET OF THINGS SECURITY – FORTIFIED HEALTH SECURITY

Other Top Medical Device & IoT Security Solution Vendors include: BAYSHORE NETWORKS, SENRIO, RUBICON, SECURERF & BASTILLE.

OUTSOURCING & NETWORK MANAGED SERVICES – TRUSTWAVE

Other top Outsourcing & Managed Services Vendors include: CYTELLIX, SECUREWORKS, DXC TECHNOLOGIES, ARMOR, BOMGAR, NTT, OPTIV, LEVEL3, AT&T & SECUREWORKS.

PATIENT PRIVACY MONITORING – FAIRWARNING

Other Top Patient Privacy Monitoring Solution Vendors include: CONVERGEPOINT, HAYSTACK, IATRIC, CYNERGISTEK, MAIZE ANALYTICS, JERICHO SYSTEMS & TRUE VAULT.

RANSOMWARE PROTECTION – ZIX CORPORATION

Other Top Ransomware Protection Solution Vendors include: IBOSS, ZSCALER, DIGITAL GUARDIAN, WEBSENSE, CISCO, SYMANTEC & BARKLY.

SECURE COMMUNICATIONS PLATFORMS – DOC HALO

Other Top Secure Communications Platform Vendors include: PERFECTSERVE, PATIENT SAFE SOLUTIONS, VOCERA, IMPRIVATA, SPOK, ONPAGE, TIGER TEXT & TELEMEDIQ.

THREAT DETECTION & CYBER ATTACK PREVENTION – DIGITAL GUARDIAN

Other Top Threat Detection & Prevention Vendors include: SYMANTEC, FORCEPOINT, CROWDSTRIKE FALCON, CARBON BLACK, TRAPX SECURITY, MCAFEE, FIREEYE, IBM, FORTINET & CYLANCE.

THREAT INTELLIGENCE & ANALYTICS – JVION

Other Top Threat Intelligence & Analytics Vendors include: EY, RAYTHEON, RAPID7, CSC, HAYSTACK, NOVETTA, REDSEAL & SAS INSTITUTE.

About Black Book Research

Black Book Market Research LLC, its founder, management and staff do not own or hold any financial interest in any of the vendors covered and encompassed in the surveys it conducts. Black Book reports the results of the collected satisfaction and client experience rankings in publication and to media prior to vendor notification of rating results and does not solicit vendor participation fees, review fees, inclusion or briefing charges and/or vendor collaboration as Black Book polls vendors’ clients.

In 2009, Black Book began polling the healthcare user and client experience of now over 600,000 healthcare software and services users. Black Book expanded its survey prowess and reputation of independent, unbiased crowd-sourced surveying to IT and health records professionals, physician practice administrators, nurses, financial leaders, executives and hospital information technology managers. Cybersecurity services and products satisfaction and client experience polling was initiated in 2013 by Black Book Market Research LLC.

May 14, 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.

eHealth Exchange to Become Carequality Implementer

Parent Organization, The Sequoia Project, to Update Corporate Structure
While Remaining 501(c)3 Non-Profit

(Vienna, VA – May 10, 2018) – The Sequoia Project, a non-profit dedicated to solving health IT interoperability for the public good, announced today its intentions to update its corporate structure this summer. The new corporate structure will reflect the continued maturation of the organization and the significantly larger role that The Sequoia Project plays as the central convener for interoperability. The updated corporate structure will result in The Sequoia Project having two distinct subsidiaries; one for eHealth Exchange and one for Carequality.

The eHealth Exchange is one of the oldest and largest health information networks in the U.S., and Carequality is an interoperability framework that makes it possible for different health information networks to share records with each other electronically. The new corporate structure will assure that each of these vital initiatives has the governance and management resources that they require to continue flourishing.

The eHealth Exchange plans to become a member and implementer of Carequality later this year, thereby extending the eHealth Exchange’s reach to all other networks that also participate in Carequality. Jay Nakashima, the new vice president of the eHealth Exchange, will spearhead the network’s application to join Carequality and set the strategic direction for the network.

“For the last nine years, the eHealth Exchange has been the principal way the public and private sector share health information,” said Nakashima. “I’m honored to take the helm at this critical stage of the network’s evolution as we develop new services and features, beginning with operating as a separate legal entity and becoming a Carequality implementer.”

The eHealth Exchange network, which is working in 75 percent of all US hospitals, is leveraged by more than 15 electronic health record (EHR) technologies and 59 regional or state health information exchanges (HIEs). Four federal agencies (Centers for Medicaid and Medicare, Department of Defense, Department of Veteran Affairs, and Social Security Administration) participate in the network to share patient information with private sector partners as well as other agencies. In all, the eHealth Exchange supports secure exchange of the records of more than 120 million patients.

“Carequality’s success as the leading national-level trusted exchange framework is predicated on our commitment to fairness and transparency,” said Dave Cassel, vice president of Carequality. “By reorganizing the eHealth Exchange and Carequality into separate legal entities, we further ensure unbiased, equitable treatment for the eHealth Exchange alongside every other implementer subject to Carequality oversight.”

So far, the Carequality framework has enabled more than 600,000 physicians to share health data across networks. Once the eHealth Exchange completes the Carequality application process, each eHealth Exchange network participant will have the option to add Carequality connectivity to bi-directionally share patient data with other Carequality-connected providers.

“The coming updates were driven by the significant growth and progress of the eHealth Exchange and Carequality,” explained Mariann Yeager, CEO of The Sequoia Project. “We can expect to keep the operational efficiencies, while expanding Sequoia’s focus on incubating new interoperability opportunities and overcoming impediments to health information exchange.”

Following the reorganization, The Sequoia Project will continue to bring together industry and government to transparently and inclusively develop solutions to the most pressing challenges of health data exchange. Thought leadership will be transformed into leadership action on topics like FHIR®, patient matching, and supporting disaster response efforts such as the Patient Unified Lookup System for Emergencies (PULSE).

The Sequoia Project will share additional updates later this summer as changes progress.

About The Sequoia Project

The Sequoia Project is a non-profit, 501c3, public-private collaborative chartered to advance implementation of secure, interoperable nationwide health information exchange. The Sequoia Project supports multiple, independent health IT interoperability initiatives, most notably: the eHealth Exchange, a rapidly growing national-level health information network; and Carequality, which is a national-level, consensus-built, common interoperability framework to interconnect and enable exchange between and among existing health information networks, much like the telecommunications industry did for linking cell phone networks. For more information about The Sequoia Project and its initiatives, visit www.sequoiaproject.org. Follow The Sequoia Project on Twitter: @SequoiaProject.

May 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.

Kyruus Raises $10 Million to Fuel Continued Growth

Patient Access Leader Investing in Product Innovation & Partnerships to Meet Fast-Growing Demand

Boston, MA – Kyruus, a leader in provider search and scheduling solutions for health systems, today announced that it has raised $10 million in new financing in a strategic round. The new financing comes on the heels of a year of unprecedented growth in which the company doubled its revenue and increased the number of hospitals on its platform by 50%. Kyruus will primarily use the investment to grow its product development and delivery teams to support the expansion of its platform, integrations with additional leading players in the digital health ecosystem, and ongoing customer success.

Health systems across the country are putting a heavy focus on the “front doors” of their organizations – online and offline access points that set the tone for the patient’s entire experience with the health system. Already offering the only enterprise-wide patient access solution on the market, this latest financing round will enable Kyruus to deepen its product capabilities and further support its customers’ patient access strategies beyond the traditional walls of a health system. In addition, it will facilitate Kyruus’ growing partnerships with industry leaders offering complementary solutions to support health systems’ access initiatives. Building on its partnership with Salesforce last year, Kyruus announced a collaboration with IBM Watson last month and its membership in the Epic App Orchard earlier this year.

Kyruus counts many of the leading health systems in the US among its customer base, which now includes more than 400 hospitals. In the past year alone, major new customer announcements included Piedmont HealthcareJefferson Health, and University of Miami Health System. Its customers are increasingly deploying the company’s solutions at multiple access points as well. Last month Kyruus announced a major expansion with Partners HealthCare that involved the health system not only expanding to use both Kyruus’ consumer and access center solutions, but also deploying ProviderMatch across its network.

Providence St. Joseph Health (through its venture capital fund, Providence Ventures) is one of two health systems that have invested in Kyruus.“At a time when there are so many solutions trying to address a piece of the access puzzle, Kyruus offers a truly foundational platform,” said Aaron Martin, EVP & Chief Digital Officer at Providence St. Joseph Health and Managing General Partner, Providence Ventures. “As a customer and investor, it’s been great to be part of Kyruus’ growth and we look forward to partnering with them as they continue to pave the way in helping more people in our communities access our care.”

“We’re excited to cap off a momentous year for the company with new funding to support our next phase of growth,“ said Graham Gardner, CEO of Kyruus. “With patient access a growing strategic priority for health systems nationwide, we are now poised to extend both our platform and partner ecosystem to keep our customers ahead of the curve.”

Kyruus is financed by some of the leading venture capital firms, technology companies, and health systems in the US. This includes Venrock, Highland Capital, New Leaf Venture Partners, Leerink Transformation Partners, F-Prime Capital Partners, Fidelity Biosciences, McKesson Ventures, Lux Capital, and Providence Ventures. The company is currently headquartered in the Back Bay area of Boston, but will be moving to a new office in the Seaport area this summer to accommodate growth in its employee base.

About Kyruus

Kyruus delivers proven provider search and scheduling solutions that help hospitals and health systems match patients with the providers best suited to care for them. The ProviderMatch suite of solutions—for consumers, access centers, and referral networks—enables a consistent patient experience across multiple points of access, while aligning provider supply with patient demand. The company’s proprietary provider data management platform forms the foundation of its solutions, powering them with accurate data by coupling data processing with administrative applications. To find out why a Better Match Means Better Care, please visit www.kyruus.com

April 18, 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.

BioIQ Raises $26.5M to Transform Value-Based Care Delivery for Payers, Providers and Consumers

Proceeds will fuel growth, innovation and transformation of healthcare delivery

ATLANTA — March 22, 2018 — BioIQ, a healthcare technology company driving the shift to value-based care, announced today it has raised $26.5M. The financing was led by HealthQuest Capital, with Arboretum Ventures and select insiders joining the syndicate. BioIQ will use the funding to fuel continued growth and support its mission to help transform the U.S. healthcare system and impact more than 100 million lives.

“BioIQ is committed to helping all people understand their health risks and connect to personalized interventions. Our intelligent technology fundamentally changes how individuals navigate the national healthcare system, resulting in greater convenience, improved access, higher quality outcomes and reduced costs,” said Justin Bellante, CEO, BioIQ. “This capital gives us additional resources to strengthen and expand the value of our solutions to clients, further helping them drive the shift to value-based care.”

BioIQ works with some of the largest health plans, employers and health service providers in the nation, as well as a network of retail pharmacies, laboratories and accountable care organizations. These partnerships facilitate consumer navigation and the secure exchange of healthcare data — all part of a streamlined, simplified approach to care gap closure and preventive health testing. Since its inception in 2005, BioIQ has launched thousands of successful programs serving millions of participants.

Said Todd Creech, Partner at HealthQuest Capital, “We look forward to working with the BioIQ team and helping them achieve a new level of growth and success as they deliver quality care solutions for payers, providers and patients.”

With this capital investment, BioIQ will continue to expand its reach into new markets and accelerate product growth and innovation. The company’s dramatic growth has been driven by increased demand among health plans and employer organizations including four of the five largest health plans in the U.S. and many of the leading Fortune 100 companies.

Paul McCreadie, Managing Director at Arboretum Ventures added, “BioIQ has developed a unique solution to driving meaningful patient engagement across health system and provider clients to deliver better health outcomes at lower cost. We’re excited to be partners in this exciting opportunity.”

With this investment, Todd Creech and Paul McCreadie have joined BioIQ’s board of directors.  Stifel acted as exclusive financial advisor to BioIQ for the financing.

About HealthQuest Capital
HealthQuest Capital makes early growth investments in innovative commercial-stage healthcare companies that are improving both patient outcomes and healthcare economics. Investments focus on medical products, diagnostics, healthcare IT and technology-enabled healthcare services. The HealthQuest investing team includes deep operational, clinical and scientific expertise and worldwide relationships throughout the healthcare industry that can be leveraged to add value to its portfolio companies. HealthQuest Capital is headquartered in Belmont, California with west coast and east coast offices. Learn more at www.healthquestcapital.com.

About Arboretum Ventures
Arboretum Ventures is a venture capital firm specializing in the healthcare sector. Founded in 2002, the firm manages $450 million across four investment funds. The investment team targets capital efficient companies that can meaningfully reduce healthcare costs and improve efficiency in focus areas of medical devices, diagnostics, healthcare IT and healthcare services. Arboretum is headquartered in Ann Arbor, Michigan. More information is available at www.arboretumvc.com.

About BioIQ
BioIQ simplifies health testing for health plans, employers and enterprises of all sizes and empowers people to take action to improve their health.  The BioIQ Platform provides tools for orchestrating health testing programs and biometric screening events across multiple vendors, as well as multi-channel communication tools for engaging and motivating participants at every step of the way.  BioIQ also provides a means to intervene when risks for chronic conditions are found — with a unified solution for keeping at-risk populations up-to-date with health testing, along with data analysis for managing risks and resources to help people live their healthiest lives. Since 2005, BioIQ has launched thousands of successful health testing programs serving millions of participants.

March 22, 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.