Home > Resources > Articles > The Administration’s Drug Rebate Reforms: Four Implementation Questions That Will Influence Whether Drug Costs Fall

The Administration’s Drug Rebate Reforms: Four Implementation Questions That Will Influence Whether Drug Costs Fall

The Trump administration has outlined an ambitious agenda to reduce prices for prescription drugs, as outlined in its May 2018 Blueprint. Its policy agenda is centered on three premises with which most health care policy analysts and observers generally agree. First, high and rising prescription drug costs are caused by many interrelated factors; therefore, a multipronged policy approach is required. Second, fostering greater price competition in the purchasing of prescription drugs will reduce costs. And third, consumers and purchasers do not have full insight into the prices that are negotiated through the prescription drug distribution system. (Policy analysts debate, however, the extent to which greater price transparency will produce lower negotiated drug prices.) One area where there remains disagreement, at least on the political level, is the degree to which government purchasers specifically Medicare should enter into the direct negotiation of prices with manufacturers.

Spotlight

Walgreens Boots Alliance

Walgreens Boots Alliance is the first global pharmacy-led, health and wellbeing enterprise. The company's heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years.

OTHER ARTICLES
Health Technology, Digital Healthcare

5 Ways AI is Likely to Benefit Medicine & Improve Patient Care

Article | September 7, 2023

Since ChatGPT’s launch in November 2022, artificial intelligence (AI) tools have become disruptive to nearly every industry. While there's been controversy about whether AI would benefit the healthcare industry, it has proven to be just as capable in healthcare as in other sectors. In the medical field, there is reason to believe AI tools may be an even more reliable and useful resource than other sectors. Medical students have been panicking over AI's threat to their career prospects. But as these systems mature, the experts increasingly believe that AI may serve as a counterpart to human medical expertise rather than a threat. How AI Tools Are Expected to Aid Medical Professionals? Again and again, as the debate over modern AI tools rages on, we encounter the analogy of the calculator. No one feels threatened by calculators, not even professional mathematicians. Instead of throwing up their hands, math experts embrace the power of these now archaic computerized devices. If the experts are correct, this may be similar to the future of the alliance between AI and humans. According to the designers and programmers who understand how these systems work as well as how information technology tends to progress, AI can be expected to help the medical profession in the following ways: Cosmetic Surgery Consultations One of the farthest-reaching applications we see develop is in consultations for plastic surgery and similar applications. Perhaps one of the easiest aspects to understand is hair-loss consultations. In our practice, we use a device known as HairMetrix, which uses an AI-driven analytical system to help determine what is causing a patient to lose their hair and which treatment options would be the most effective. Because it is AI-driven, it is fully based on visual scans and is completely non-invasive. Just like this, AI can be used in an abundance of other ways to minimize the use of exploratory surgery and improve healthcare outcomes. Improved Diagnostics Artificial intelligence is already helping medical providers deliver diagnoses more quickly. These tools can identify anomalies that might otherwise take human hours or even weeks to identify. This has improved the rate of cancer detection, among other things, which will predictably improve survival rates. Developing New Pharmaceuticals The development of new medicines is notoriously slow. Not only is testing a painstaking process, but even seeking FDA approval can take years. AI is expected to help the development of pharmaceuticals through simulation on the molecular level, allowing researchers to see how the active mechanisms in a drug will work in the body. Improved Administrative Efficiency In the medical field, administrative tasks are notoriously slow. It is believed that generative AI will be able to automate many administrative functions and innumerable office chores. It could streamline sorting patient files, accelerate the interpretation of data, and much more. Patient Access In an area where information technology is already improving patients' lives, access to medical advice is still a bottleneck in the system. AI tools have the potential to slowly bridge the gap in health disparities. Combined with the power to diagnose, this could dramatically increase the capability of online patient portals. Of course, this list of anticipated AI capabilities is far from exhaustive. Researchers and medical professionals have high hopes for these tools, and some are already proving to be more than mere speculation. In a world where AI is reshaping industries at an unprecedented pace, the healthcare sector stands poised to benefit significantly from this technological revolution. From streamlining administrative tasks to revolutionizing diagnostics, the potential of AI in medicine is vast and diverse. As we witness AI-enabled tools like HairMetrix, enhancing the cosmetic surgery consultations and AI algorithms expediting diagnostic accuracy, it's clear that we are only at the beginning of a healthcare transformation that is set to improve patient care, increase survival rates, and revolutionize medical practices.

Read More
Digital Healthcare

Unlocking Better Health Online: Exploring Power of EHR Telemedicine

Article | July 7, 2023

Embark on a journey into the frontier of healthcare innovation in this article. Discover how EHR telemedicine and remote patient monitoring serve as catalysts, driving forward a new era in healthcare. Contents 1. Integration of EHRs in Telemedicine and Remote Patient Monitoring 2. Technical Challenges and Solutions in EHR Integration 3. Financial Analysis: Cost-Benefit Assessment of Integration 4. Data Privacy and Consent in Integrated EHR-Telemedicine Systems 5. Forging Stronger Patient-Clinician Relationships 1. Integration of EHRs in Telemedicine and Remote Patient Monitoring EHR telemedicine and remote patient monitoring have reshaped healthcare delivery by seamlessly integrating electronic health records, allowing healthcare providers and patients to exchange information effortlessly, regardless of geographical barriers. This synergy empowers healthcare professionals to access patients' comprehensive medical histories in real time, facilitating more informed decision-making during virtual consultations. During the spring of 2020, when pandemic restrictions kept most people in the US at home, the use of telehealth rose to about 51%. [Source: Elation Health] Moreover, it enhances the accuracy of remote patient monitoring by providing up-to-date data, enabling timely interventions and improving overall healthcare outcomes. Integrating EHR telemedicine systems enhances efficiency and ensures that patient care remains at the forefront of modern healthcare, transcending traditional physical boundaries. 2. Technical Challenges and Solutions in EHR Integration Navigating telehealth EHR integration and remote patient monitoring solutions uncovers a range of technical challenges, each with its own set of potential remedies. These include interoperability issues, which can be mitigated by adopting standardized data formats like HL7 FHIR. EHR interoperability solutions may involve using data exchange protocols such as HL7's Consolidated Clinical Document Architecture (C-CDA) or developing custom APIs to facilitate seamless data exchange between EHRs and telemedicine platforms. Additionally, the imperative need for data security and privacy is achieved through robust encryption and adherence to regulations like HIPAA or GDPR. Data integration challenges arising from varying EHR data storage methods can be resolved using middleware or integration platforms. Investing in telecom infrastructure and developing offline-capable telemedicine apps can address limited connectivity in remote areas. Ensuring real-time data access involves optimizing EHR databases and creating low-latency systems. Other challenges encompass integrating data from medical devices, ensuring data accuracy, scalability, user-friendly interfaces, regulatory compliance, and cost management strategies. 3. Financial Analysis: Cost-Benefit Assessment of Integration When contemplating the integration of EHR telemedicine and remote patient monitoring systems, conducting a comprehensive cost-benefit analysis is crucial. This assessment covers financial aspects, including initial implementation costs (software development, hardware upgrades, training, and data migration), ongoing operational expenses (maintenance and data storage), and potential efficiency gains (streamlined workflows and improved data accessibility). It also evaluates the impact on patient outcomes, satisfaction, and financial benefits of enhanced healthcare quality, reduced readmissions, and increased patient engagement. Healthcare organizations can estimate cost savings in remote patient monitoring and explore expanding telemedicine services to underserved populations to make informed financial decisions. Additionally, this analysis considers long-term financial viability and alignment with organizational goals, including regulatory compliance costs, risk assessment, scalability considerations, and the competitive advantages of integrated telemedicine services. By calculating ROI and assessing potential risks, healthcare entities can develop risk mitigation strategies, ensuring that EHR integration in telemedicine and remote patient monitoring enhances healthcare delivery and aligns with the organization's financial sustainability and long-term success. 4. Data Privacy and Consent in Integrated EHR-Telemedicine Systems Data privacy and obtaining informed consent are paramount in integrated EHR and telemedicine systems. Patients should provide explicit consent, understanding the data collected and its intended use, with strict encryption protocols safeguarding data during transmission. Access controls and data minimization practices restrict unauthorized access, while patient portals enable individuals to manage their data-sharing preferences and revoke consent if needed. Compliance with regulations such as HIPAA or GDPR is crucial, as is maintaining comprehensive audit trails to track data access. Training, awareness, and robust incident response plans fortify data privacy efforts, fostering trust and transparency in these integrated systems where healthcare organizations and patients share responsibility for secure data handling. 5. Forging Stronger Patient-Clinician Relationships Integrating EHR telemedicine and remote monitoring systems goes beyond mere efficiency and accessibility objectives. It serves as a catalyst for nurturing more substantial and meaningful patient-clinician relationships. This fusion of technology and healthcare has the capacity to bridge physical distances, allowing clinicians to truly understand and engage with their patients on a deeper level. Patients, armed with increased access to their health data, become more active participants in their healthcare, while clinicians, with their comprehensive information, can offer more personalized and informed guidance. The potential of EHR telemedicine reaches far beyond the digital screen; it empowers both patients and clinicians to collaborate in pursuit of improved health outcomes, ushering in a new era of patient-centric care grounded in trust, communication, and shared knowledge.

Read More
Health Technology, Digital Healthcare

Unlocking the Puzzle: Navigating EHR Interoperability Solutions

Article | September 8, 2023

Unlock EHR interoperability solutions with this article. Discover how healthcare overcomes EHR interoperability challenges to facilitate seamless information sharing for better clinical decisions. 1. Exploring Hurdles in EHR Interoperability 2. Addressing EHR Interoperability Challenges: Mapping Effective Paths 2.1 Upgrading from Outdated Legacy Systems 2.2 Managing Inconsistent Information Across Multiple Sources 2.3 Overcoming Organizational Resistance to Sharing Data 2.4 Balancing Security and Consent 2.5 Harmonizing Data Standards Across Diverse Software Systems 2.6 Optimizing Training Resources for EHR Interoperability 2.7 Strategizing Costs for Specialist-driven Interoperability Management 2.8 Navigating Budget Constraints in EHR Interoperability 2.9 Unifying Patient Identification Standards Across HIEs 2.10 Advancing Allergy Management to Enhance Patient Care 3. Embracing Interoperability for a Connected Healthcare Future 1.Exploring Hurdles in EHR Interoperability Despite significant efforts and investments in health information systems and technology, coupled with many years of widespread availability, the full benefits of electronic health records (EHRs) still need to be realized. The reality is that most physicians continue to rely on faxing and mailing patient records, just as they did a decade ago. Numerous government-certified EHR products are being used, each utilizing distinct clinical terminologies, technical specifications, and functional capabilities. These differences make it challenging to establish a unified standard interoperability format for data sharing. Interestingly, even EHR systems built on the same platform might not be interoperable, as they are frequently highly customized to an organization’s specific workflow and preferences. Given these circumstances, the article examines ten challenges and their corresponding EHR interoperability solutions to enhance patient care. 2.Addressing EHR Interoperability Challenges: Mapping Effective Paths The primary goal of healthcare interoperability is to enable seamless sharing of health-related information between healthcare providers and patients, aiding in clinical decision-making. Here are several challenges to accomplishing this aim, along with their corresponding interoperability solutions: 2. 1 Upgrading from Outdated Legacy Systems One of the significant challenges in achieving EHR interoperability is the need to transition from outdated legacy systems. Many healthcare facilities still rely on older, proprietary EHR systems that need more compatibility and standards to communicate seamlessly with modern, interconnected healthcare networks. These legacy systems often need more data exchange capabilities, leading to inefficiencies, data inconsistencies, and barriers to collaborative patient care. The intricate process of upgrading or replacing these systems while ensuring data integrity and continuity of care poses a considerable obstacle to achieving comprehensive EHR interoperability. Healthcare institutions need to implement a strategic and phased approach to address this challenge. This involves assessing the existing EHR, identifying interoperability gaps, and selecting modern healthcare interoperability solutions that adhere to industry standards, such as Fast Healthcare Interoperability Resources (HL7 FHIR) and open APIs. A well-defined migration plan should be developed, including data migration, new system integration, and staff training. Collaboration with EHR vendors, IT experts, and clinical stakeholders is crucial to ensuring a smooth transition. 2.2 Managing Inconsistent Information Across Multiple Sources As patients move through different healthcare settings and encounter various medical professionals, their health information becomes distributed across multiple sources, leading to discrepancies, duplications, and variations in data. This inconsistency can compromise patient safety, treatment accuracy, and healthcare quality. Furthermore, different institutions' varying data formats, coding systems, and documentation practices exacerbate the challenge of creating a unified and accurate patient record. A potential solution to this challenge involves developing and adopting standardized data exchange protocols. By implementing common data standards and practices, healthcare providers can ensure that patient information is accurately represented and uniformly understood across different systems. In addition, robust data validation processes and reconciliation algorithms can help identify and rectify inconsistencies during data integration. Moreover, creating a centralized patient identity management system that links various patient records to a single, accurate identity can significantly mitigate the issue of duplicated or mismatched information. 2.3 Overcoming Organizational Resistance to Sharing Data This EHR interoperability challenge pertains to the reluctance of healthcare institutions, clinics, and providers to readily exchange patient information and medical records due to concerns over data privacy, competitive advantage, and operational complexities. This resistance often leads to fragmented patient care, hindered medical research, and compromised clinical decision-making. Addressing this challenge necessitates the establishment of clear data-sharing protocols, robust privacy safeguards, and incentivized collaboration. By fostering a culture of trust, emphasizing the collective benefits of data exchange, and implementing interoperability standards, the healthcare ecosystem can encourage reluctant organizations to actively share essential patient data, ultimately leading to improved patient outcomes and more efficient healthcare delivery. 2.4 Balancing Security and Consent This challenge in EHR interoperability revolves around the delicate equilibrium between ensuring patient data security and privacy while enabling the seamless sharing of EHRs across different healthcare systems. Striking the right balance involves addressing concerns about unauthorized access, data breaches, and patient consent preferences. While robust security measures are necessary to safeguard sensitive health information, overly stringent restrictions can hinder the efficient exchange of vital medical data, potentially impeding timely and informed patient care, medical research, and healthcare system efficiency. Potential EHR interoperability solutions to this challenge include implementing a layered security and consent management approach. This involves combining strong encryption, authentication protocols, and access controls to ensure the integrity and confidentiality of EHRs. Moreover, the adoption of standardized and granular consent mechanisms empowers patients to regulate both access to their data and the purposes for which it can be accessed. An integrated framework that employs advanced technologies like blockchain for secure audit trails and data-sharing logs can enhance transparency and accountability. Furthermore, patient education and awareness campaigns can empower individuals to make informed data-sharing decisions, fostering a collaborative environment where security, consent, and interoperability coexist harmoniously. 2.5 Harmonizing Data Standards Across Diverse Software Systems This challenge encompasses integrating and exchanging medical data across various software platforms and applications used within the healthcare industry. To tackle this challenge, a comprehensive solution includes the widespread adoption and adherence to standardized data formats, coding conventions, and communication protocols by developers, healthcare organizations, and EHR integration software. To address this challenge, a comprehensive solution involves the establishment of standardized data formats, coding conventions, and communication protocols widely adopted and adhered to by EHR software developers and healthcare organizations. This could be achieved through industry collaboration, government regulations, and incentives for adopting interoperability standards. Additionally, implementing APIs that translate and map data between different formats can help bridge the gap between diverse software systems. 2.6 Optimizing Training Resources for EHR Interoperability This hurdle involves preparing healthcare professionals, IT staff, and other stakeholders to effectively navigate and implement interoperable EHR systems. Ensuring that healthcare personnel possess the necessary skills and knowledge to seamlessly integrate, maintain, and utilize interconnected EHR systems amidst rapidly evolving technology and standards poses a significant hurdle. This challenge involves understanding the intricacies of interoperability protocols and grasping the broader context of data security, patient privacy, and efficient data exchange among diverse healthcare entities. To address this challenge, developing comprehensive and up-to-date training programs that cover both technical aspects (interoperability standards, APIs, and data formats) and practical considerations (security protocols, data governance) is crucial. Collaborations with vendors, industry experts, and academia can ensure the training content remains aligned and updated with current EHR trends. Integrating EHR interoperability education into medical and IT curricula can also lay a foundation for future professionals. Continuous learning opportunities, including EHR analytics courses, certifications, and knowledge-sharing platforms, can further bolster the continual development of skills and knowledge exchange. This process cultivates a skilled workforce capable of fully leveraging EHR interoperability while upholding the integrity and privacy of patient data. 2.7 Strategizing Costs for Specialist-driven Interoperability Management This challenge pertains to the complex and costly task of ensuring seamless data exchange among diverse EHR systems, mainly when managed by specialists with domain-specific knowledge. These specialists play a crucial role in tailoring EHR interoperability solutions to the unique needs of their medical domains. Still, the financial implications of such endeavors can be substantial, involving customization, integration, and maintenance expenses. Finding an effective solution requires a multi-faceted approach involving standardized interoperability frameworks, modular system design, strategic resource allocation, and collaborative partnerships among EHR vendors, healthcare institutions, and specialists. By optimizing the balance between customization and standardization and leveraging technological advances like APIs and cloud computing, healthcare ecosystems can mitigate costs while achieving efficient and secure data exchange that benefits patients and healthcare providers. 2.8 Navigating Budget Constraints in EHR Interoperability This issue relates to healthcare organizations' significant financial limitations when striving to establish seamless EHR data exchange across disparate systems. As healthcare entities aim to enhance patient care coordination and data accessibility, the cost of implementing and maintaining interoperable EHR systems becomes a substantial hurdle. This challenge necessitates a delicate balance between allocating resources for EHR integration, customization, and ongoing maintenance while ensuring that patient data remains secure and accessible to authorized stakeholders. A possible avenue to deal with the budget constraints in EHR interoperability is the strategic adoption of open-source frameworks. By leveraging open-source solutions, healthcare organizations can reduce licensing fees and development costs associated with proprietary systems, allowing them to allocate resources more efficiently. Additionally, collaborating with industry consortia and governmental initiatives that promote standardized data exchange protocols can foster economies of scale, streamlining the implementation process. Moreover, investing in cloud-based technologies can offer scalable and cost-effective data storage and sharing infrastructure. 2.9 Unifying Patient Identification Standards Across HIEs The crux of this issue involves the need for consistent patient identification methods across different healthcare systems and data-sharing networks. This inconsistency results in errors, data duplication, and compromised patient safety as information is exchanged between entities. Without a standardized patient identification system, accurate matching of patient records becomes a complex endeavor, hindering the seamless exchange of EHRs and undermining the potential benefits of interoperability. To address this challenge, a comprehensive solution involves establishing and adopting a universally recognized patient identification standard that spans all participating HIEs. This standard could include using unique patient identifiers or a combination of demographic, biometric, and cryptographic identifiers to ensure accurate and secure patient matching. Additionally, implementing advanced data governance practices, strong privacy protections, and robust data validation algorithms would enhance the accuracy and security of patient identification. Collaboration between healthcare organizations, government agencies, and technology experts is crucial to developing and implementing this standardized approach, fostering a more interconnected and effective healthcare ecosystem while safeguarding patient privacy and data integrity. 2.10 Advancing Allergy Management to Enhance Patient Care Healthcare providers need help seamlessly sharing allergy-related patient data across different EHR platforms, hindering comprehensive patient care. This lack of interoperability leads to fragmented information, potential medication errors, and compromised treatment decisions, ultimately impacting patient safety and outcomes. One viable solution for addressing this challenge is to establish standardized data exchange protocols alongside a unified health information exchange framework. Implementing FHIR standards can enable the consistent and secure sharing of allergy information among EHR systems. Additionally, incentivizing healthcare organizations to adopt these interoperability EHR standards and invest in compatible technologies will promote a cohesive ecosystem where allergy data can be accurately and swiftly exchanged. Collaborative efforts among EHR vendors, healthcare providers, and regulatory bodies are essential to ensure the seamless flow of allergy-related information, resulting in enhanced patient care, reduced medical errors, and improved healthcare efficiency. 3.Embracing Interoperability for a Connected Healthcare Future With the goal of a cohesive healthcare future in mind, the value of embracing interoperability is immeasurable. This article highlights the essential role of interoperability in overcoming the challenges posed by fragmented data and improving patient outcomes. As healthcare systems continue to develop, the smooth exchange of EHRs becomes crucial, fostering collaboration among diverse stakeholders and facilitating well-informed decision-making. By creating an environment in which EHRs can seamlessly communicate, healthcare providers have the potential to offer more comprehensive, patient-centered care, minimize duplication, and expedite both diagnoses and treatments. Although achieving an interoperable healthcare ecosystem may involve complexity, the benefits of efficiency, precision, and overall quality of care underscore its necessity as a transformative journey.

Read More
Healthtech Security

Modernizing Caregiving: How a Robotic Emotional Support Animal Can Help Caregivers

Article | August 31, 2023

A wealth of evidence supports the health benefits of keeping pets: increased life span, exercise, improved mental health, and a sense of purpose. But for older adults and those with disabilities, the responsibilities and expense of owning an animal can be overwhelming, and caregivers are often forced to take on those burdens themselves. To make matters worse, dementia patients can pose a physical threat to live animals. What alternate solutions exist for those who cannot safely or practically keep a live pet? Fortunately, information technology and robotics have advanced to the point that realistic, robotic emotional support pets are becoming a legitimate option. As research in this area advances, experts have found that robotic emotional support animals can offer a myriad of benefits similar to those associated with live pets. Robotic companions can also help caregivers. Robotic Emotional Support Animals in Practice Imagine the following scenario: An elderly woman with dementia suffering from Sundowner’s Syndrome relies on a strict daily regimen established by her caregiver. This routine is a delicate dance, balancing the patient’s meals, medication, and personal care, all designed to keep her as relaxed as possible. One afternoon, as the caregiver prepares dinner, the caregiver realizes that the patient’s beloved dog is nowhere to be found. She runs outside to look for the dog, leaving the patient to fend for herself. The patient is agitated over her missing dog and suddenly alone in a kitchen with pots and pans boiling. Fortunately, the caregiver finds the dog outside, but the patient is now too overwhelmed to eat or take her medication. Despite the caregiver’s best efforts at redirection, it’s a rough evening for everyone. How a Robotic Emotional Support Animal Can Ease the Role as Caregiver As any experienced caregiver knows, consistent emotional support for patients is critical. A robotic emotional support animal can significantly ease a caregiver’s role in this respect. Robotic companions replicate many benefits traditional pets provide – affection, responsiveness, and companionship – without the associated caregiving demands, such as feeding walking, or veterinarian visits. The Benefits of Robotic Emotional Support Animals The owners of pets are known to enjoy Reduced impact of depression Lower blood pressure Reduced triglycerides and cholesterol Longer survival rates after a heart attack 30% fewer doctor visits after age 65 Longer life spans Robotic companion animals provide genuine comfort, mirroring the emotional connection that living pets provide while lightening the caregiver load. Uplifting conversations about the robot companion elevate the moods of both patient and caregiver, potentially reducing feelings of burnout. In embracing such technology, senior care and assisted living facilities can foster an environment that makes staff and residents all smile a little more.

Read More
Health Technology, Digital Healthcare

Unlocking the Puzzle: Navigating EHR Interoperability Solutions

Article | September 7, 2023

Since ChatGPT’s launch in November 2022, artificial intelligence (AI) tools have become disruptive to nearly every industry. While there's been controversy about whether AI would benefit the healthcare industry, it has proven to be just as capable in healthcare as in other sectors. In the medical field, there is reason to believe AI tools may be an even more reliable and useful resource than other sectors. Medical students have been panicking over AI's threat to their career prospects. But as these systems mature, the experts increasingly believe that AI may serve as a counterpart to human medical expertise rather than a threat. How AI Tools Are Expected to Aid Medical Professionals? Again and again, as the debate over modern AI tools rages on, we encounter the analogy of the calculator. No one feels threatened by calculators, not even professional mathematicians. Instead of throwing up their hands, math experts embrace the power of these now archaic computerized devices. If the experts are correct, this may be similar to the future of the alliance between AI and humans. According to the designers and programmers who understand how these systems work as well as how information technology tends to progress, AI can be expected to help the medical profession in the following ways: Cosmetic Surgery Consultations One of the farthest-reaching applications we see develop is in consultations for plastic surgery and similar applications. Perhaps one of the easiest aspects to understand is hair-loss consultations. In our practice, we use a device known as HairMetrix, which uses an AI-driven analytical system to help determine what is causing a patient to lose their hair and which treatment options would be the most effective. Because it is AI-driven, it is fully based on visual scans and is completely non-invasive. Just like this, AI can be used in an abundance of other ways to minimize the use of exploratory surgery and improve healthcare outcomes. Improved Diagnostics Artificial intelligence is already helping medical providers deliver diagnoses more quickly. These tools can identify anomalies that might otherwise take human hours or even weeks to identify. This has improved the rate of cancer detection, among other things, which will predictably improve survival rates. Developing New Pharmaceuticals The development of new medicines is notoriously slow. Not only is testing a painstaking process, but even seeking FDA approval can take years. AI is expected to help the development of pharmaceuticals through simulation on the molecular level, allowing researchers to see how the active mechanisms in a drug will work in the body. Improved Administrative Efficiency In the medical field, administrative tasks are notoriously slow. It is believed that generative AI will be able to automate many administrative functions and innumerable office chores. It could streamline sorting patient files, accelerate the interpretation of data, and much more. Patient Access In an area where information technology is already improving patients' lives, access to medical advice is still a bottleneck in the system. AI tools have the potential to slowly bridge the gap in health disparities. Combined with the power to diagnose, this could dramatically increase the capability of online patient portals. Of course, this list of anticipated AI capabilities is far from exhaustive. Researchers and medical professionals have high hopes for these tools, and some are already proving to be more than mere speculation. In a world where AI is reshaping industries at an unprecedented pace, the healthcare sector stands poised to benefit significantly from this technological revolution. From streamlining administrative tasks to revolutionizing diagnostics, the potential of AI in medicine is vast and diverse. As we witness AI-enabled tools like HairMetrix, enhancing the cosmetic surgery consultations and AI algorithms expediting diagnostic accuracy, it's clear that we are only at the beginning of a healthcare transformation that is set to improve patient care, increase survival rates, and revolutionize medical practices.

Read More
Digital Healthcare

Accelerate Growth with Top 7 EHR Analytics Courses

Article | July 7, 2023

Embark on a journey into the frontier of healthcare innovation in this article. Discover how EHR telemedicine and remote patient monitoring serve as catalysts, driving forward a new era in healthcare. Contents 1. Integration of EHRs in Telemedicine and Remote Patient Monitoring 2. Technical Challenges and Solutions in EHR Integration 3. Financial Analysis: Cost-Benefit Assessment of Integration 4. Data Privacy and Consent in Integrated EHR-Telemedicine Systems 5. Forging Stronger Patient-Clinician Relationships 1. Integration of EHRs in Telemedicine and Remote Patient Monitoring EHR telemedicine and remote patient monitoring have reshaped healthcare delivery by seamlessly integrating electronic health records, allowing healthcare providers and patients to exchange information effortlessly, regardless of geographical barriers. This synergy empowers healthcare professionals to access patients' comprehensive medical histories in real time, facilitating more informed decision-making during virtual consultations. During the spring of 2020, when pandemic restrictions kept most people in the US at home, the use of telehealth rose to about 51%. [Source: Elation Health] Moreover, it enhances the accuracy of remote patient monitoring by providing up-to-date data, enabling timely interventions and improving overall healthcare outcomes. Integrating EHR telemedicine systems enhances efficiency and ensures that patient care remains at the forefront of modern healthcare, transcending traditional physical boundaries. 2. Technical Challenges and Solutions in EHR Integration Navigating telehealth EHR integration and remote patient monitoring solutions uncovers a range of technical challenges, each with its own set of potential remedies. These include interoperability issues, which can be mitigated by adopting standardized data formats like HL7 FHIR. EHR interoperability solutions may involve using data exchange protocols such as HL7's Consolidated Clinical Document Architecture (C-CDA) or developing custom APIs to facilitate seamless data exchange between EHRs and telemedicine platforms. Additionally, the imperative need for data security and privacy is achieved through robust encryption and adherence to regulations like HIPAA or GDPR. Data integration challenges arising from varying EHR data storage methods can be resolved using middleware or integration platforms. Investing in telecom infrastructure and developing offline-capable telemedicine apps can address limited connectivity in remote areas. Ensuring real-time data access involves optimizing EHR databases and creating low-latency systems. Other challenges encompass integrating data from medical devices, ensuring data accuracy, scalability, user-friendly interfaces, regulatory compliance, and cost management strategies. 3. Financial Analysis: Cost-Benefit Assessment of Integration When contemplating the integration of EHR telemedicine and remote patient monitoring systems, conducting a comprehensive cost-benefit analysis is crucial. This assessment covers financial aspects, including initial implementation costs (software development, hardware upgrades, training, and data migration), ongoing operational expenses (maintenance and data storage), and potential efficiency gains (streamlined workflows and improved data accessibility). It also evaluates the impact on patient outcomes, satisfaction, and financial benefits of enhanced healthcare quality, reduced readmissions, and increased patient engagement. Healthcare organizations can estimate cost savings in remote patient monitoring and explore expanding telemedicine services to underserved populations to make informed financial decisions. Additionally, this analysis considers long-term financial viability and alignment with organizational goals, including regulatory compliance costs, risk assessment, scalability considerations, and the competitive advantages of integrated telemedicine services. By calculating ROI and assessing potential risks, healthcare entities can develop risk mitigation strategies, ensuring that EHR integration in telemedicine and remote patient monitoring enhances healthcare delivery and aligns with the organization's financial sustainability and long-term success. 4. Data Privacy and Consent in Integrated EHR-Telemedicine Systems Data privacy and obtaining informed consent are paramount in integrated EHR and telemedicine systems. Patients should provide explicit consent, understanding the data collected and its intended use, with strict encryption protocols safeguarding data during transmission. Access controls and data minimization practices restrict unauthorized access, while patient portals enable individuals to manage their data-sharing preferences and revoke consent if needed. Compliance with regulations such as HIPAA or GDPR is crucial, as is maintaining comprehensive audit trails to track data access. Training, awareness, and robust incident response plans fortify data privacy efforts, fostering trust and transparency in these integrated systems where healthcare organizations and patients share responsibility for secure data handling. 5. Forging Stronger Patient-Clinician Relationships Integrating EHR telemedicine and remote monitoring systems goes beyond mere efficiency and accessibility objectives. It serves as a catalyst for nurturing more substantial and meaningful patient-clinician relationships. This fusion of technology and healthcare has the capacity to bridge physical distances, allowing clinicians to truly understand and engage with their patients on a deeper level. Patients, armed with increased access to their health data, become more active participants in their healthcare, while clinicians, with their comprehensive information, can offer more personalized and informed guidance. The potential of EHR telemedicine reaches far beyond the digital screen; it empowers both patients and clinicians to collaborate in pursuit of improved health outcomes, ushering in a new era of patient-centric care grounded in trust, communication, and shared knowledge.

Read More
Health Technology, Digital Healthcare

Unlocking Better Health Online: Exploring Power of EHR Telemedicine

Article | September 8, 2023

Unlock EHR interoperability solutions with this article. Discover how healthcare overcomes EHR interoperability challenges to facilitate seamless information sharing for better clinical decisions. 1. Exploring Hurdles in EHR Interoperability 2. Addressing EHR Interoperability Challenges: Mapping Effective Paths 2.1 Upgrading from Outdated Legacy Systems 2.2 Managing Inconsistent Information Across Multiple Sources 2.3 Overcoming Organizational Resistance to Sharing Data 2.4 Balancing Security and Consent 2.5 Harmonizing Data Standards Across Diverse Software Systems 2.6 Optimizing Training Resources for EHR Interoperability 2.7 Strategizing Costs for Specialist-driven Interoperability Management 2.8 Navigating Budget Constraints in EHR Interoperability 2.9 Unifying Patient Identification Standards Across HIEs 2.10 Advancing Allergy Management to Enhance Patient Care 3. Embracing Interoperability for a Connected Healthcare Future 1.Exploring Hurdles in EHR Interoperability Despite significant efforts and investments in health information systems and technology, coupled with many years of widespread availability, the full benefits of electronic health records (EHRs) still need to be realized. The reality is that most physicians continue to rely on faxing and mailing patient records, just as they did a decade ago. Numerous government-certified EHR products are being used, each utilizing distinct clinical terminologies, technical specifications, and functional capabilities. These differences make it challenging to establish a unified standard interoperability format for data sharing. Interestingly, even EHR systems built on the same platform might not be interoperable, as they are frequently highly customized to an organization’s specific workflow and preferences. Given these circumstances, the article examines ten challenges and their corresponding EHR interoperability solutions to enhance patient care. 2.Addressing EHR Interoperability Challenges: Mapping Effective Paths The primary goal of healthcare interoperability is to enable seamless sharing of health-related information between healthcare providers and patients, aiding in clinical decision-making. Here are several challenges to accomplishing this aim, along with their corresponding interoperability solutions: 2. 1 Upgrading from Outdated Legacy Systems One of the significant challenges in achieving EHR interoperability is the need to transition from outdated legacy systems. Many healthcare facilities still rely on older, proprietary EHR systems that need more compatibility and standards to communicate seamlessly with modern, interconnected healthcare networks. These legacy systems often need more data exchange capabilities, leading to inefficiencies, data inconsistencies, and barriers to collaborative patient care. The intricate process of upgrading or replacing these systems while ensuring data integrity and continuity of care poses a considerable obstacle to achieving comprehensive EHR interoperability. Healthcare institutions need to implement a strategic and phased approach to address this challenge. This involves assessing the existing EHR, identifying interoperability gaps, and selecting modern healthcare interoperability solutions that adhere to industry standards, such as Fast Healthcare Interoperability Resources (HL7 FHIR) and open APIs. A well-defined migration plan should be developed, including data migration, new system integration, and staff training. Collaboration with EHR vendors, IT experts, and clinical stakeholders is crucial to ensuring a smooth transition. 2.2 Managing Inconsistent Information Across Multiple Sources As patients move through different healthcare settings and encounter various medical professionals, their health information becomes distributed across multiple sources, leading to discrepancies, duplications, and variations in data. This inconsistency can compromise patient safety, treatment accuracy, and healthcare quality. Furthermore, different institutions' varying data formats, coding systems, and documentation practices exacerbate the challenge of creating a unified and accurate patient record. A potential solution to this challenge involves developing and adopting standardized data exchange protocols. By implementing common data standards and practices, healthcare providers can ensure that patient information is accurately represented and uniformly understood across different systems. In addition, robust data validation processes and reconciliation algorithms can help identify and rectify inconsistencies during data integration. Moreover, creating a centralized patient identity management system that links various patient records to a single, accurate identity can significantly mitigate the issue of duplicated or mismatched information. 2.3 Overcoming Organizational Resistance to Sharing Data This EHR interoperability challenge pertains to the reluctance of healthcare institutions, clinics, and providers to readily exchange patient information and medical records due to concerns over data privacy, competitive advantage, and operational complexities. This resistance often leads to fragmented patient care, hindered medical research, and compromised clinical decision-making. Addressing this challenge necessitates the establishment of clear data-sharing protocols, robust privacy safeguards, and incentivized collaboration. By fostering a culture of trust, emphasizing the collective benefits of data exchange, and implementing interoperability standards, the healthcare ecosystem can encourage reluctant organizations to actively share essential patient data, ultimately leading to improved patient outcomes and more efficient healthcare delivery. 2.4 Balancing Security and Consent This challenge in EHR interoperability revolves around the delicate equilibrium between ensuring patient data security and privacy while enabling the seamless sharing of EHRs across different healthcare systems. Striking the right balance involves addressing concerns about unauthorized access, data breaches, and patient consent preferences. While robust security measures are necessary to safeguard sensitive health information, overly stringent restrictions can hinder the efficient exchange of vital medical data, potentially impeding timely and informed patient care, medical research, and healthcare system efficiency. Potential EHR interoperability solutions to this challenge include implementing a layered security and consent management approach. This involves combining strong encryption, authentication protocols, and access controls to ensure the integrity and confidentiality of EHRs. Moreover, the adoption of standardized and granular consent mechanisms empowers patients to regulate both access to their data and the purposes for which it can be accessed. An integrated framework that employs advanced technologies like blockchain for secure audit trails and data-sharing logs can enhance transparency and accountability. Furthermore, patient education and awareness campaigns can empower individuals to make informed data-sharing decisions, fostering a collaborative environment where security, consent, and interoperability coexist harmoniously. 2.5 Harmonizing Data Standards Across Diverse Software Systems This challenge encompasses integrating and exchanging medical data across various software platforms and applications used within the healthcare industry. To tackle this challenge, a comprehensive solution includes the widespread adoption and adherence to standardized data formats, coding conventions, and communication protocols by developers, healthcare organizations, and EHR integration software. To address this challenge, a comprehensive solution involves the establishment of standardized data formats, coding conventions, and communication protocols widely adopted and adhered to by EHR software developers and healthcare organizations. This could be achieved through industry collaboration, government regulations, and incentives for adopting interoperability standards. Additionally, implementing APIs that translate and map data between different formats can help bridge the gap between diverse software systems. 2.6 Optimizing Training Resources for EHR Interoperability This hurdle involves preparing healthcare professionals, IT staff, and other stakeholders to effectively navigate and implement interoperable EHR systems. Ensuring that healthcare personnel possess the necessary skills and knowledge to seamlessly integrate, maintain, and utilize interconnected EHR systems amidst rapidly evolving technology and standards poses a significant hurdle. This challenge involves understanding the intricacies of interoperability protocols and grasping the broader context of data security, patient privacy, and efficient data exchange among diverse healthcare entities. To address this challenge, developing comprehensive and up-to-date training programs that cover both technical aspects (interoperability standards, APIs, and data formats) and practical considerations (security protocols, data governance) is crucial. Collaborations with vendors, industry experts, and academia can ensure the training content remains aligned and updated with current EHR trends. Integrating EHR interoperability education into medical and IT curricula can also lay a foundation for future professionals. Continuous learning opportunities, including EHR analytics courses, certifications, and knowledge-sharing platforms, can further bolster the continual development of skills and knowledge exchange. This process cultivates a skilled workforce capable of fully leveraging EHR interoperability while upholding the integrity and privacy of patient data. 2.7 Strategizing Costs for Specialist-driven Interoperability Management This challenge pertains to the complex and costly task of ensuring seamless data exchange among diverse EHR systems, mainly when managed by specialists with domain-specific knowledge. These specialists play a crucial role in tailoring EHR interoperability solutions to the unique needs of their medical domains. Still, the financial implications of such endeavors can be substantial, involving customization, integration, and maintenance expenses. Finding an effective solution requires a multi-faceted approach involving standardized interoperability frameworks, modular system design, strategic resource allocation, and collaborative partnerships among EHR vendors, healthcare institutions, and specialists. By optimizing the balance between customization and standardization and leveraging technological advances like APIs and cloud computing, healthcare ecosystems can mitigate costs while achieving efficient and secure data exchange that benefits patients and healthcare providers. 2.8 Navigating Budget Constraints in EHR Interoperability This issue relates to healthcare organizations' significant financial limitations when striving to establish seamless EHR data exchange across disparate systems. As healthcare entities aim to enhance patient care coordination and data accessibility, the cost of implementing and maintaining interoperable EHR systems becomes a substantial hurdle. This challenge necessitates a delicate balance between allocating resources for EHR integration, customization, and ongoing maintenance while ensuring that patient data remains secure and accessible to authorized stakeholders. A possible avenue to deal with the budget constraints in EHR interoperability is the strategic adoption of open-source frameworks. By leveraging open-source solutions, healthcare organizations can reduce licensing fees and development costs associated with proprietary systems, allowing them to allocate resources more efficiently. Additionally, collaborating with industry consortia and governmental initiatives that promote standardized data exchange protocols can foster economies of scale, streamlining the implementation process. Moreover, investing in cloud-based technologies can offer scalable and cost-effective data storage and sharing infrastructure. 2.9 Unifying Patient Identification Standards Across HIEs The crux of this issue involves the need for consistent patient identification methods across different healthcare systems and data-sharing networks. This inconsistency results in errors, data duplication, and compromised patient safety as information is exchanged between entities. Without a standardized patient identification system, accurate matching of patient records becomes a complex endeavor, hindering the seamless exchange of EHRs and undermining the potential benefits of interoperability. To address this challenge, a comprehensive solution involves establishing and adopting a universally recognized patient identification standard that spans all participating HIEs. This standard could include using unique patient identifiers or a combination of demographic, biometric, and cryptographic identifiers to ensure accurate and secure patient matching. Additionally, implementing advanced data governance practices, strong privacy protections, and robust data validation algorithms would enhance the accuracy and security of patient identification. Collaboration between healthcare organizations, government agencies, and technology experts is crucial to developing and implementing this standardized approach, fostering a more interconnected and effective healthcare ecosystem while safeguarding patient privacy and data integrity. 2.10 Advancing Allergy Management to Enhance Patient Care Healthcare providers need help seamlessly sharing allergy-related patient data across different EHR platforms, hindering comprehensive patient care. This lack of interoperability leads to fragmented information, potential medication errors, and compromised treatment decisions, ultimately impacting patient safety and outcomes. One viable solution for addressing this challenge is to establish standardized data exchange protocols alongside a unified health information exchange framework. Implementing FHIR standards can enable the consistent and secure sharing of allergy information among EHR systems. Additionally, incentivizing healthcare organizations to adopt these interoperability EHR standards and invest in compatible technologies will promote a cohesive ecosystem where allergy data can be accurately and swiftly exchanged. Collaborative efforts among EHR vendors, healthcare providers, and regulatory bodies are essential to ensure the seamless flow of allergy-related information, resulting in enhanced patient care, reduced medical errors, and improved healthcare efficiency. 3.Embracing Interoperability for a Connected Healthcare Future With the goal of a cohesive healthcare future in mind, the value of embracing interoperability is immeasurable. This article highlights the essential role of interoperability in overcoming the challenges posed by fragmented data and improving patient outcomes. As healthcare systems continue to develop, the smooth exchange of EHRs becomes crucial, fostering collaboration among diverse stakeholders and facilitating well-informed decision-making. By creating an environment in which EHRs can seamlessly communicate, healthcare providers have the potential to offer more comprehensive, patient-centered care, minimize duplication, and expedite both diagnoses and treatments. Although achieving an interoperable healthcare ecosystem may involve complexity, the benefits of efficiency, precision, and overall quality of care underscore its necessity as a transformative journey.

Read More
Healthtech Security

Modernizing Caregiving: How a Robotic Emotional Support Animal Can Help Caregivers

Article | August 31, 2023

A wealth of evidence supports the health benefits of keeping pets: increased life span, exercise, improved mental health, and a sense of purpose. But for older adults and those with disabilities, the responsibilities and expense of owning an animal can be overwhelming, and caregivers are often forced to take on those burdens themselves. To make matters worse, dementia patients can pose a physical threat to live animals. What alternate solutions exist for those who cannot safely or practically keep a live pet? Fortunately, information technology and robotics have advanced to the point that realistic, robotic emotional support pets are becoming a legitimate option. As research in this area advances, experts have found that robotic emotional support animals can offer a myriad of benefits similar to those associated with live pets. Robotic companions can also help caregivers. Robotic Emotional Support Animals in Practice Imagine the following scenario: An elderly woman with dementia suffering from Sundowner’s Syndrome relies on a strict daily regimen established by her caregiver. This routine is a delicate dance, balancing the patient’s meals, medication, and personal care, all designed to keep her as relaxed as possible. One afternoon, as the caregiver prepares dinner, the caregiver realizes that the patient’s beloved dog is nowhere to be found. She runs outside to look for the dog, leaving the patient to fend for herself. The patient is agitated over her missing dog and suddenly alone in a kitchen with pots and pans boiling. Fortunately, the caregiver finds the dog outside, but the patient is now too overwhelmed to eat or take her medication. Despite the caregiver’s best efforts at redirection, it’s a rough evening for everyone. How a Robotic Emotional Support Animal Can Ease the Role as Caregiver As any experienced caregiver knows, consistent emotional support for patients is critical. A robotic emotional support animal can significantly ease a caregiver’s role in this respect. Robotic companions replicate many benefits traditional pets provide – affection, responsiveness, and companionship – without the associated caregiving demands, such as feeding walking, or veterinarian visits. The Benefits of Robotic Emotional Support Animals The owners of pets are known to enjoy Reduced impact of depression Lower blood pressure Reduced triglycerides and cholesterol Longer survival rates after a heart attack 30% fewer doctor visits after age 65 Longer life spans Robotic companion animals provide genuine comfort, mirroring the emotional connection that living pets provide while lightening the caregiver load. Uplifting conversations about the robot companion elevate the moods of both patient and caregiver, potentially reducing feelings of burnout. In embracing such technology, senior care and assisted living facilities can foster an environment that makes staff and residents all smile a little more.

Read More
MORE ARTICLES

Spotlight

Walgreens Boots Alliance

Walgreens Boots Alliance is the first global pharmacy-led, health and wellbeing enterprise. The company's heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years.

Related News

Future of Healthcare

ClareMedica Health Partners, a Leading Provider of Value-Based Primary Care, Receives Investment from Revelstoke Capital Partners

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.

Read More

Digital Healthcare

Brazilian Heath Tech Company Alice Partners With TytoCare to Expand Telehealth Offerings With At-Home Medical Examinations

TytoCare | February 23, 2022

TytoCare, the global health care industry's first all-in-one modular device and examination platform for AI-powered, on-demand, remote medical exams, and Alice,Brazil'sfirst primary care-driven health insurance plan, have announced today a partnership. Alice is the first company inBrazilto integrate with TytoCare, offering its members an easy-to-use, portable examination kit to conduct virtual physical examinations anywhere, anytime, putting healthcare in the hands of consumers. TytoCare will be distributed exclusively inBrazilby Tuinda Care. Alice, which inDecember 2021received the largest venture capital round ever reported inLatin Americaby a health tech company, began operations inJune 2020as an innovative tech-enabled health plan, built on the foundation of virtual-first, team-based primary care. Besides providing each of its members a 'Health Squad' ("Time de Saúde") – composed of a family doctor, a nurse, a nutritionist, and a physical trainer – the company also serves as a private health insurance provider with access to top-of-the-line hospitals, labs, and a network of medical specialists. Most hospitals in the network are contracted under a value-based healthcare (VBHC) payment model. With the TytoCare partnership, Alice will enable seamless digital diagnostics for its members, while enabling physicians to offer clinic-quality virtual care. TytoCare is the only all-in-one telehealth solution enabling physicians to remotely connect with patients for clinic-quality physical examinations. The handheld examination kit enables users to perform comprehensive exams of the heart, skin, ears, throat, abdomen, and lungs, as well as measure heartrate and body temperature, which are key for treating many acute and chronic conditions. This allows healthcare providers to gain the vital clinical data they require to monitor, diagnose, and treat patients and avoid unnecessary in-person visits. All the data is stored in Alice's app and becomes available to all health professionals who care for the member, allowing for seamless care coordination. "This data integration – the first of its kind inBrazil– enables the member's Health Squad to easily follow up on any chronic or acute condition, providing patients with long-term care while ensuring accuracy, speed, and convenience in both diagnoses and treatment plans. TytoCare also reduces costs and the need for travel to and from hospitals and clinics. In addition, it enables the health professional to share vital information with other physicians and specialists for a second opinion." André Florence, CEO of Alice TytoCare is easy to use and requires only an internet signal for members to conduct synchronous virtual consultations with their physician who can guide them through the exams and see the results in Alice's app. The physician can then better direct the member to the appropriate care pathway, either by referring them to an emergency room or by writing a digital prescription, when necessary. Currently, 15% of digital queries use TytoCare's support and with the integration, this number is expected to grow even further. With TytoCare, Alice can offer better assistance to a member who has, for example, an earache in the middle of the night and opts to use 'Alice Now' ("Alice Agora") – an in-app, text-based virtual primary care service that supports audio and video and is available 24/7 for members who need immediate medical assistance. Within one hour, the member will receive the TytoCare device at home and the physician will guide them through a physical exam to see in real-time what is happening in the ear canal. The TytoCare examination kit can be used to support the care of children and adults as well as for patients with more complex illnesses who need frequent monitoring. "Members with medical complexities use health services more frequently and can benefit from remote monitoring, reducing the frequency of in-person visits," saidAna Carolina Lucchese, Tuinda Care director. "Easier access to medical services can also prevent further complications and hospitalization." About TytoCare TytoCare is a telehealth company using AI to transform primary care by putting health in the hands of consumers. TytoCare seamlessly connects people to clinicians to provide the best virtual home examination and diagnosis solutions.Its solutions are designed to enable a comprehensive medical exam from any location and include a hand-held, all-in-one tool for examining the heart, lungs, skin, ears, throat, abdomen, and body temperature; a complete telehealth platform for sharing exam data, conducting live video exams, and scheduling visits; a cloud-based data repository with analytics; and built-in guidance technology and machine learning algorithms to ensure accuracy and ease of use for patients and insights for healthcare providers. Co-founded byDedi GiladandOfer Tzadikin 2012, TytoCare has FDA and CE clearances and has partnered with over 170 major health systems, health plans, and strategic partners in the U.S.,Europe,Asia,Latin America, andIsrael. About Alice Alice is currently considered the most promising health tech inLatin America. AsBrazil'sfirst primary care-driven health insurance plan, its mission is to make the world healthier. Launched inJune 2020, it already has nearly 7,000 members, more than 550 employees and has raised VC rounds at historically high levels for a health tech in the region. Founded by André Florence,Guilherme AzevedoandMatheus Moraes, the health tech has raised$174.8Mfrom the funds Allen & Company LLC, Canary, Endeavor Catalyst, Globo Ventures, G Squared, Kaszek, Maya Capital, StepStone Group, SoftBank Latin America Fund (SBLA) and ThornTree Capital Partners. About Tuinda Care Tuinda Care is a Healthtech startup focused on expanding access to high quality medical care inBrazilthrough telemedicine. It's the exclusive distributor of TytoCare technology inBrazil, with the purpose to connect clinicians and patients remotely, assuring medical excellence in every online visit. Tuinda Care is accelerated by Pequeno Príncipe Hospital and Sabará Pediatric Hospital, the two most prestigious pediatric hospitals inBrazil.

Read More

Future of Healthcare

Avalon Healthcare Solutions Announces New Collaboration with N.Y.-Based Health Insurer CDPHP

Avalon Healthcare Solutions | February 19, 2022

Avalon Healthcare Solutions, LLC, DBA Avalon Healthcare Solutions, is pleased to announce a new collaboration to provide genetic testing management to Capital District Physicians' Health Plan, Inc. (CDPHP®). Lab testing is the gateway to appropriate diagnosis and treatment plans, and there are more than 13 billion lab tests performed annually in the U.S. Those results influence 70 percent of all medical decisions. Lab testing is highly complex and constantly evolving, creating challenges for health plans to navigate. Avalon, the world's first Lab Insights company, takes lab benefit and value management services to the next level, further removing waste and abuse from the system, while also improving clinical outcomes. Avalon helps its clients provide earlier disease detection for their members and drive treatment protocols to accelerate the Triple Aim of improving the patient experience, improving the health of populations, and reducing the per member cost of healthcare. Avalon and CDPHP are focused on using the latest technology, evidence-based medicine, and provider education to ensure high-quality, cost-effective laboratory services to drive appropriate care for CDPHP members. Avalon's innovative management services unlock the power of lab data, expanding the view to encompass the entire patient journey, optimizing treatment, improving outcomes, and driving down costs. "We are pleased to join together withCDPHP and bring our proven history of management, as well as our innovative approach to unlocking new possibilities. The CDPHP focus on improving the health and well-being of its members and communities is perfectly aligned with Avalon's mission to help our clients enable value-driven care in this dynamic and increasingly challenging environment." Bill Kerr, MD, Chief Executive Officer at Avalon "For nearly 40 years, CDPHP has been committed to lowering the total cost of care while preserving the high-quality service our members and the community at-large have come to expect," saidElizabeth Warner, MD, Senior Vice President of Member Health, CDPHP. "This new venture with Avalon Healthcare Solutions will further our mission of ensuring care is delivered at the right place, at the right time, and with the best outcome possible for each and every member we serve." About Avalon Healthcare Solutions Avalon Healthcare Solutions is the world's first and only Lab Insights company, bringing together our proven Lab Benefit Management solutions, lab science expertise, digitized lab values, and proprietary analytics to help healthcare insurers proactively inform appropriate care, reduce costs, and improve clinical outcomes. Working with health plans across the country, the company covers more than 36 million lives and delivers 7-12% outpatient lab benefit savings. Avalon is pioneering a new era of value-driven care with its Lab Insights Platform that captures, digitizes, and analyzes lab results in real time to provide actionable insights for earlier disease detection, ensuring appropriate treatment protocols, and driving down overall cost. About CDPHP® Established in 1984, CDPHP is a physician-founded, member-focused and community-based not-for-profit health plan that offers high-quality affordable health insurance plans to members in 29 counties throughoutNew York.

Read More

Future of Healthcare

ClareMedica Health Partners, a Leading Provider of Value-Based Primary Care, Receives Investment from Revelstoke Capital Partners

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.

Read More

Digital Healthcare

Brazilian Heath Tech Company Alice Partners With TytoCare to Expand Telehealth Offerings With At-Home Medical Examinations

TytoCare | February 23, 2022

TytoCare, the global health care industry's first all-in-one modular device and examination platform for AI-powered, on-demand, remote medical exams, and Alice,Brazil'sfirst primary care-driven health insurance plan, have announced today a partnership. Alice is the first company inBrazilto integrate with TytoCare, offering its members an easy-to-use, portable examination kit to conduct virtual physical examinations anywhere, anytime, putting healthcare in the hands of consumers. TytoCare will be distributed exclusively inBrazilby Tuinda Care. Alice, which inDecember 2021received the largest venture capital round ever reported inLatin Americaby a health tech company, began operations inJune 2020as an innovative tech-enabled health plan, built on the foundation of virtual-first, team-based primary care. Besides providing each of its members a 'Health Squad' ("Time de Saúde") – composed of a family doctor, a nurse, a nutritionist, and a physical trainer – the company also serves as a private health insurance provider with access to top-of-the-line hospitals, labs, and a network of medical specialists. Most hospitals in the network are contracted under a value-based healthcare (VBHC) payment model. With the TytoCare partnership, Alice will enable seamless digital diagnostics for its members, while enabling physicians to offer clinic-quality virtual care. TytoCare is the only all-in-one telehealth solution enabling physicians to remotely connect with patients for clinic-quality physical examinations. The handheld examination kit enables users to perform comprehensive exams of the heart, skin, ears, throat, abdomen, and lungs, as well as measure heartrate and body temperature, which are key for treating many acute and chronic conditions. This allows healthcare providers to gain the vital clinical data they require to monitor, diagnose, and treat patients and avoid unnecessary in-person visits. All the data is stored in Alice's app and becomes available to all health professionals who care for the member, allowing for seamless care coordination. "This data integration – the first of its kind inBrazil– enables the member's Health Squad to easily follow up on any chronic or acute condition, providing patients with long-term care while ensuring accuracy, speed, and convenience in both diagnoses and treatment plans. TytoCare also reduces costs and the need for travel to and from hospitals and clinics. In addition, it enables the health professional to share vital information with other physicians and specialists for a second opinion." André Florence, CEO of Alice TytoCare is easy to use and requires only an internet signal for members to conduct synchronous virtual consultations with their physician who can guide them through the exams and see the results in Alice's app. The physician can then better direct the member to the appropriate care pathway, either by referring them to an emergency room or by writing a digital prescription, when necessary. Currently, 15% of digital queries use TytoCare's support and with the integration, this number is expected to grow even further. With TytoCare, Alice can offer better assistance to a member who has, for example, an earache in the middle of the night and opts to use 'Alice Now' ("Alice Agora") – an in-app, text-based virtual primary care service that supports audio and video and is available 24/7 for members who need immediate medical assistance. Within one hour, the member will receive the TytoCare device at home and the physician will guide them through a physical exam to see in real-time what is happening in the ear canal. The TytoCare examination kit can be used to support the care of children and adults as well as for patients with more complex illnesses who need frequent monitoring. "Members with medical complexities use health services more frequently and can benefit from remote monitoring, reducing the frequency of in-person visits," saidAna Carolina Lucchese, Tuinda Care director. "Easier access to medical services can also prevent further complications and hospitalization." About TytoCare TytoCare is a telehealth company using AI to transform primary care by putting health in the hands of consumers. TytoCare seamlessly connects people to clinicians to provide the best virtual home examination and diagnosis solutions.Its solutions are designed to enable a comprehensive medical exam from any location and include a hand-held, all-in-one tool for examining the heart, lungs, skin, ears, throat, abdomen, and body temperature; a complete telehealth platform for sharing exam data, conducting live video exams, and scheduling visits; a cloud-based data repository with analytics; and built-in guidance technology and machine learning algorithms to ensure accuracy and ease of use for patients and insights for healthcare providers. Co-founded byDedi GiladandOfer Tzadikin 2012, TytoCare has FDA and CE clearances and has partnered with over 170 major health systems, health plans, and strategic partners in the U.S.,Europe,Asia,Latin America, andIsrael. About Alice Alice is currently considered the most promising health tech inLatin America. AsBrazil'sfirst primary care-driven health insurance plan, its mission is to make the world healthier. Launched inJune 2020, it already has nearly 7,000 members, more than 550 employees and has raised VC rounds at historically high levels for a health tech in the region. Founded by André Florence,Guilherme AzevedoandMatheus Moraes, the health tech has raised$174.8Mfrom the funds Allen & Company LLC, Canary, Endeavor Catalyst, Globo Ventures, G Squared, Kaszek, Maya Capital, StepStone Group, SoftBank Latin America Fund (SBLA) and ThornTree Capital Partners. About Tuinda Care Tuinda Care is a Healthtech startup focused on expanding access to high quality medical care inBrazilthrough telemedicine. It's the exclusive distributor of TytoCare technology inBrazil, with the purpose to connect clinicians and patients remotely, assuring medical excellence in every online visit. Tuinda Care is accelerated by Pequeno Príncipe Hospital and Sabará Pediatric Hospital, the two most prestigious pediatric hospitals inBrazil.

Read More

Future of Healthcare

Avalon Healthcare Solutions Announces New Collaboration with N.Y.-Based Health Insurer CDPHP

Avalon Healthcare Solutions | February 19, 2022

Avalon Healthcare Solutions, LLC, DBA Avalon Healthcare Solutions, is pleased to announce a new collaboration to provide genetic testing management to Capital District Physicians' Health Plan, Inc. (CDPHP®). Lab testing is the gateway to appropriate diagnosis and treatment plans, and there are more than 13 billion lab tests performed annually in the U.S. Those results influence 70 percent of all medical decisions. Lab testing is highly complex and constantly evolving, creating challenges for health plans to navigate. Avalon, the world's first Lab Insights company, takes lab benefit and value management services to the next level, further removing waste and abuse from the system, while also improving clinical outcomes. Avalon helps its clients provide earlier disease detection for their members and drive treatment protocols to accelerate the Triple Aim of improving the patient experience, improving the health of populations, and reducing the per member cost of healthcare. Avalon and CDPHP are focused on using the latest technology, evidence-based medicine, and provider education to ensure high-quality, cost-effective laboratory services to drive appropriate care for CDPHP members. Avalon's innovative management services unlock the power of lab data, expanding the view to encompass the entire patient journey, optimizing treatment, improving outcomes, and driving down costs. "We are pleased to join together withCDPHP and bring our proven history of management, as well as our innovative approach to unlocking new possibilities. The CDPHP focus on improving the health and well-being of its members and communities is perfectly aligned with Avalon's mission to help our clients enable value-driven care in this dynamic and increasingly challenging environment." Bill Kerr, MD, Chief Executive Officer at Avalon "For nearly 40 years, CDPHP has been committed to lowering the total cost of care while preserving the high-quality service our members and the community at-large have come to expect," saidElizabeth Warner, MD, Senior Vice President of Member Health, CDPHP. "This new venture with Avalon Healthcare Solutions will further our mission of ensuring care is delivered at the right place, at the right time, and with the best outcome possible for each and every member we serve." About Avalon Healthcare Solutions Avalon Healthcare Solutions is the world's first and only Lab Insights company, bringing together our proven Lab Benefit Management solutions, lab science expertise, digitized lab values, and proprietary analytics to help healthcare insurers proactively inform appropriate care, reduce costs, and improve clinical outcomes. Working with health plans across the country, the company covers more than 36 million lives and delivers 7-12% outpatient lab benefit savings. Avalon is pioneering a new era of value-driven care with its Lab Insights Platform that captures, digitizes, and analyzes lab results in real time to provide actionable insights for earlier disease detection, ensuring appropriate treatment protocols, and driving down overall cost. About CDPHP® Established in 1984, CDPHP is a physician-founded, member-focused and community-based not-for-profit health plan that offers high-quality affordable health insurance plans to members in 29 counties throughoutNew York.

Read More

Events