Digital Healthcare
Cognizant | March 02, 2022
Cognizant today announced it is collaboratingwith Microsoft to delivera new digital health solution to enhance remote patient monitoring for improved medical care.
Cognizant's new solution, leveraging components of the Microsoft Cloud for Healthcare, is the first of several planned offerings that combine remote patient monitoring and virtual health, utilizing products like smart watches, blood pressure monitors, and glucose meters to collect and communicate patient health data to providers. Built-in analytics allow providers to cross-reference historical health information to gain patient insights and potentially identify early warning signs of chronic conditions so preventative measures can be taken. Additionally, the solution's remote capabilities enable telehealth visits, which continue to be a valuable option to mitigate barriers of care for patients with accessibility constraints, as well as implement time-sensitive interventions and improve personalized care. With chronic diseases expected to account for 70% of global deaths by 2030, advancements in digital integration are quickly becoming recognized as an optimal approach to preventing, managing, and treating disease.*
As an early Microsoft Cloud for Healthcare partner, Cognizant has designed a solution that leverages Microsoft Azure services including FHIR, API Services, and Teams integration to improve scalability and reliability. This digital healthcare endeavor is backed by Cognizant's dedicated Microsoft Business Group, bringing together Cognizant's digital modernization expertise with Microsoft's focus on building Industry Clouds to deliver a commercially available, comprehensive, healthcare solution.
This new offering is the first in a series of digital healthcare solutions from Cognizant as the company accelerates its client offerings aimed at implementing advanced healthcare technology to increase patient engagement, enhance personalized care, provide remote patient monitoring, and facilitate improved patient outcomes. Future offerings will build upon existing solution capabilities to help clients expedite implementation.
"The bridging of technology and healthcare is creating new opportunities to improve how providers monitor the health of their patients and engage with them for time-sensitive interventions. Utilizing data analytics, secure cloud technology and interoperability products, our collaboration with Microsoft offers a unique, scalable solution that aims to connect providers and patients, and enhances the quality, timeliness, and personalization of healthcare."
Surya Gummadi, Head of Cognizant Healthcare
"Cognizant's new virtual healthcare solution utilizes differentiated capabilities, built on the secure and compliant Microsoft Cloud, that make it easy for people to collect and share health data using their own devices, while ensuring that providers have the data and insights they need to diagnose and treat patients," saidTom McGuinness, Corporate Vice President, Global Healthcare and Life Sciences, Microsoft. "We look forward to combining our technologies and collective expertise to deliver additional solutions that offer high quality healthcare and enable patient well-being."
About Cognizant
Cognizantengineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life.
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Digital Healthcare
BAYADA | February 28, 2022
BAYADA Home Health Care, a leading not-for-profit home health care provider today launched its new, innovative suite of digital care transition and coordination solutions to assist hospitals and health plan point venture partners to better serve patients in their homes and communities. BAYADA has selected digital health care company, Dina, its current technology partner, as the platform to power these new, tech-enabled services.
The new digital tools leveraged by BAYADA will identify risks and track interventions as part of a new longitudinal care management program, bridging the acute and post-acute care worlds. By improving patient transitions from hospital to home-based care, BAYADA will help care teams stay connected, and create better, more cost-effective outcomes for patients and providers.
In a BAYADA trial including a cohort of patients with complex care needs, the approach has already created a significant impact. Patient hospitalization and emergency department visit rates were reduced by 42% and 30%, respectively, and the progression of patients moving from their homes into long-term, facility-based nursing care has also slowed.
“We’re excited to launch a highly scalable tech platform that offers seamless clinical integration, so we can coordinate multiple specialty services for seniors to help them stay safe and well cared for in their homes,” said David Baiada, CEO of BAYADA Home Health Care. “This will become increasingly important as care continues to move into homes, where people want to be.”
The COVID-19 pandemic has accelerated the adoption of home-based care, and most older Americans say they want to age in place.
“As organizations prepare to deliver care in a post-COVID world, it’s important that they not only invest in telehealth and remote patient monitoring capabilities, but also partner with forward-thinking homecare providers to better serve people in the home setting. We look forward to working with BAYADA to implement this new technology, and managing the care delivery logistics to make care-at-home safe, coordinated, reliable and excellent for patients and their families.”
Ashish V. Shah, CEO of Dina
The new tech-enabled services not only benefit patients, but major health systems as well, allowing BAYADA partners to:
Digitally transform post-acute care (PAC) network management and streamline the transitions of care experience for patients moving from hospital to home.
Create virtual care teams across disparate post-acute and community-based providers that connect physicians, nurses, care managers, patients, and their families with real-time, secure, mobile messaging, leading to fewer unplanned emergency room visits and readmissions.
Implement new, innovative care-at-home delivery models that keep the home as the primary destination for medically complex patients.
Address the health equity and social determinants of health (SDOH) needs for patients through data-driven partnerships with local, community-based service providers.
Better support the emerging needs of family caregivers as they work to formally collaborate with care teams to deliver exceptional outcomes at a lower cost.
BAYADA is one of the fastest-growing home health and hospice joint venture partners in the country and has joined forces with several major health systems and health plans in joint ventures and value-based care arrangements.
About BAYADA Home Health Care
BAYADA Home Health Care was founded by J. Mark Baiada in 1975 and provides nursing, rehabilitative, therapeutic, hospice and assistive care services to children, adults and seniors in the comfort of their homes. Headquartered in the Greater Philadelphia suburbs based in New Jersey, BAYADA employs more than 26,000 nurses, home health aides, therapists, medical social workers and other home health care professionals who serve their communities in 23 states from 347 locations, with locations in Canada, Germany, India, Ireland, New Zealand, South Korea and the United Kingdom.
In 2018, Baiada oversaw the company’s unprecedented transition to a not-for-profit organization to ensure BAYADA’s mission, purpose and business model would endure, and to help BAYADA realize its vision of helping millions of people worldwide experience a better quality of life at home; in early May 2019, the organization served its one millionth client.
About Dina
Dina powers the future of home-based care. We are an AI-powered care-at-home platform and network that can activate and coordinate multiple home-based service providers, engage patients directly, and unlock timely home-based insights that increase healthy days at home. The platform creates a virtual experience for the entire healthcare team so they can communicate with each other--and help patients and families stay connected--even though they may not physically be under the same roof. Dina helps professional and family caregivers capture rich data from the home, using artificial intelligence to recommend evidence-based, non-medical interventions.
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Future of Healthcare
Revelstoke | February 25, 2022
Revelstoke Capital Partners ("Revelstoke"), aDenver-based private equity firm focused on investing in healthcare services companies, today announced it has made a significant growth investment in ClareMedica Health Partners, LLC ("ClareMedica" or the "Company"), a leader in value-based primary care serving Medicare Advantage members inFlorida. This partnership will accelerate ClareMedica's growth and aid the Company in expanding itsBetterCare℠model into new markets.
ClareMedica will continue to be led by CEORoberto Palenzuelaand the current management team, who will retain significant ownership in the business. BPOC, aChicago-based healthcare investor, which has been an investor in ClareMedica since 2019, will also retain equity ownership.
"We have always believed in a value-based care model that places a priority on high-quality coordinated care designed to improve health outcomes," said Mr. Palenzuela, who reinvested alongside Revelstoke. "We are delighted to partner with Revelstoke, which has a proven track-record of building prominent healthcare services businesses with this patient centric philosophy. We are excited to use this investment to partner with other physician-led practices, expanding ourBetterCare℠model into new markets throughoutFloridaand into neighboring states."
Russell Cassella, Managing Partner at Revelstoke, said, "Our investment in ClareMedica reflects Revelstoke's avid support of the industry's transition from fee-for-service to value-based healthcare, resulting in a greater emphasis on improving patient outcomes. ClareMedica's commitment to providing high-quality care has made it a partner of choice for physicians and payors throughoutFlorida. With our experience in physician practice management and value-based care, we look forward to helping management build a broader regional platform that will increase access to high-quality care."
"We look forward to our continued partnership with Roberto and his team because of their patient-centered approach and focus on improving patient outcomes. As value-based care continues to expand, we see significant long-term growth potential as ClareMedica enters new markets and expands access to high-quality care."
Peter Magas, Partner at BPOC
"After a multi-year outbound search in the value-based primary care sector, we are very pleased to partner with ClareMedica's management team and providers who are dedicated to transforming healthcare," said Cy Barton-Dobenin, Principal at Revelstoke. "Throughout our targeted search process, we have built significant industry knowledge and strategic relationships that we are excited to integrate into ClareMedica's growth plans."
SVB Leerinkacted as financial advisor and McGuireWoods LLP acted as legal counsel to Revelstoke.Houlihan Lokeyacted as financial advisor and Kirkland & Ellis LLP andMcDermott Will& Emery LLP acted as legal counsel to ClareMedica and BPOC. Terms of the transaction were not disclosed.
About Revelstoke
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare services and healthcare technology sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based inDenver, Coloradoand has approximately$4.3 billionof assets under management. Since the firm's inception in 2013, Revelstoke has completed 142 acquisitions, which includes 25 platform companies and 117 add-on acquisitions.
About ClareMedica Health Partners
ClareMedica is a growing health care company that provides and coordinates comprehensive health care services for Medicare Advantage members and other customers through a network of employed and affiliated physicians. We deliver accountable, value-based care for all health care stakeholders by employing a patient-centric care model that provides better care for our patients and a changing health care industry.
About BPOC
Founded in 1996, BPOC is aChicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation's most experienced investors in the industry having raised five funds with total capital commitments of nearly$1.8 billion. BPOC has invested in numerous provider, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations.
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