FUTURE OF HEALTHCARE
CareView Communications, Inc. | November 17, 2022
CareView Communications, Inc. an information technology provider to the healthcare industry, announced the signing of an agreement with a health system building a new campus in Pensacola, FL. The new campus includes a new acute care hospital and behavioral health unit with room for future expansion.
The agreement calls for the installation of the CareView Patient Safety System®, which facilitates continuous remote patient monitoring for patients who may be at risk of harm due to falls, behavioral issues, or suicidal ideation. The CareView solution leverages an in-room camera with audio capabilities and patented Virtual Bed Rails® and Virtual Chair Rails® technologies to improve patient safety. The Virtual Rails use machine learning to identify when the patient's movement indicates a fall may be imminent, and subsequently alerts the Safety Technician. Pre-recorded messages or 2-way audio allow for direct communication with the patient. The System offers a considerable impact on sitter reduction and overall patient safety.
“We are pleased to be working with our newest partner and know that our System is the solution to address their needs to reduce patient falls and increase patient safety.”
Sandra McRee, CareView’s Chief Operating Officer
About CareView Communications, Inc.
As a leader in turnkey patient video monitoring solutions, CareView is redefining the standard of patient safety in hospitals and healthcare facilities across the country. For over a decade, CareView has relentlessly pursued innovative ways to increase patient protection, providing next-generation solutions that lower operational costs and foster a culture of safety among patients, staff, and hospital leadership. With installations in more than 150 hospitals, CareView has proven that its innovative technology is creating a culture of patient safety where patient falls have decreased by 80% with sitter costs reduced by more than 65%. Anchored by the CareView Patient Safety System, this modular, scalable solution delivers flexible configurations to fit any facility while significantly increasing patient safety and operational savings. All configurations feature HD cameras, high-fidelity 2-way audio/video, LCD displays for the ultimate in capability, flexibility, and affordability. Corporate offices are located at 405 State Highway 121 Bypass, Suite B-240, Lewisville, TX 75067.
FUTURE OF HEALTHCARE
DispatchHealth | November 24, 2022
DispatchHealth, the nation's first comprehensive in-home, high acuity medical care provider announced it has raised more than $330 million in combined equity and debt financing. The equity round of $259 million was led by Optum Ventures, with participation from new investors Adams Street Partners, Blue Shield of California, among others, and continued support from existing investors Humana, Echo Health Ventures, Questa Capital and Oak HC/FT. K2 HealthVentures, Silicon Valley Bank and SVB Capital provided debt financing of $75 million, with up to an additional $75 million available for growth initiatives, bringing the total raised to more than $400 million.
In the United States, $4 trillion is spent on healthcare annually and it is projected to exceed $6 trillion by 2028. With more than a third of this spend on care delivered in traditional brick-and-mortar facilities, the healthcare industry has reached a watershed moment. DispatchHealth's in-home, high acuity care model aligns health plans, health systems, at-risk provider groups and patients with complex care needs by delivering a value-based alternative to high-cost settings such as the emergency room, hospital ward or skilled nursing facility, reducing medical costs while improving clinical outcomes and patient and provider satisfaction.
"For the past seven years, we have been building a comprehensive ecosystem of high acuity care in the home. Our proven approach to delivering healthcare to complex patients in their homes will continue to transform healthcare. This round of funding is a testament to what we and our passionate team members have created at DispatchHealth and the belief our partners have in our leading-edge care model."
Dr. Mark Prather, Co-Founder and CEO of DispatchHealth
Today, DispatchHealth provides high acuity care to complex patients across 34 states and has developed innovative relationships with health plans, provider groups, health systems, employers, senior living facilities, and home health organizations to deliver a better, more coordinated healthcare experience. DispatchHealth is also one of the largest and most experienced providers of Advanced Care, a hospital alternative, and Extended Care, a skilled nursing facility alternative. To coordinate the complex ecosystem of in-home care, DispatchHealth has created an operating system for high acuity care in the home. The proprietary technology platform uses real-time data insights to manage all aspects of the in-home care experience, including logistics, onboarding, risk stratification, care coordination and analytics that elevate the clinical practice and drive improved outcomes.
DispatchHealth will use the financing to
Expand its proven in-home high acuity care ecosystem in existing markets and key expansion markets;
Accelerate its technology platform development to deliver consistent and scalable patient-centric care; and,
Strategically grow its portfolio of in-home system of care and last mile care capabilities.
"DispatchHealth is transforming the healthcare industry by improving access to outcomes-driven, high-quality, in-home care and delivering on the enhanced experience patients deserve. Optum Ventures is honored to deepen our relationship with DispatchHealth and its experienced leadership team as they continue to expand their reach of high acuity, in-home care to serve patients with complex care needs across the nation," said Laura Veroneau, Managing Partner at Optum Ventures.
"DispatchHealth's comprehensive and unique ecosystem of in-home care is compelling. Adams Street is thrilled to support DispatchHealth as they expand their system of care, particularly their high acuity hospitalization substitution model. We believe DispatchHealth is positioned to catalyze important and necessary advances in the healthcare industry," said Tom Bremner, a Partner at Adams Street Partners.
DispatchHealth brings the power of the hospital to the comfort of the home. DispatchHealth is building the leading in-home system of care and offers on-demand acute care and an advanced level of medical care for people of all ages in the comfort of their own homes. DispatchHealth's emergency medicine and internal medicine trained medical teams are equipped with all the tools necessary to treat common to complex injuries and illnesses. DispatchHealth works closely with payers, providers, health systems, EMS, employer groups and others to deliver care in the home to reduce unnecessary emergency room visits, hospital stays and readmissions. Acute Care medical teams are available seven days a week, evenings and holidays and can be requested online or via a quick phone call. DispatchHealth is partnered with most major insurance companies.
About Optum Ventures
Optum Ventures is the independent venture fund of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to healthcare services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate.
About Adams Street Partners
Adams Street Partners is a global private markets investment manager with investments in more than thirty countries across five continents. The firm is 100% employee-owned and has $50 billion in assets under management. Adams Street strives to generate actionable investment insights across market cycles by drawing on 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.
Eleos Health and Echo Group | September 16, 2022
Eleos Health, the leader in CareOps Automation for behavioral health, and The Echo Group, the only provider of visual electronic health record technology, announced that Eleos Health's augmented intelligence will be directly embedded into the EchoVantage web-based clinical, billing, and administrative EHR application to serve the needs of behavioral healthcare clinicians.
Eleos Health and EchoVantage will act in synergy to reduce administrative burdens on clinicians. Medical professionals face an increasing number of administrative tasks, spending an average of 20% of their total working hours on administration. In general, notes for each session take about 15 minutes to complete, with the average full-time clinician doing so for 40 sessions per week.
Eleos will turn behavioral health conversations into documentation and session intelligence, plugging directly into EchoVantage's visual health record (VHR). The VHR provides clinicians with a client's case across a timeline, with visual indicators providing an understandable and actionable graphical format. Clinicians using Eleos reduce time spent on documentation by over 30%.
This increase in efficient and accurate documentation also equips supervisors with unprecedented visibility into staff activity, caseloads and performance to make it easier for providers to meet organizational standards for documentation, while empowering providers to improve training with structured, objective feedback on their sessions.
"Eleos Health is excited to add The Echo Group to our growing base of strategic partners who are dedicated to advancing the standard of care in behavioral health. By enhancing the EchoVantage EHR with our augmented intelligence capabilities, we will give clinicians the ability to spend less time on administrative tasks and more time impacting the lives of those managing behavioral health conditions,"
Alon Joffe, CEO and Co-Founder, Eleos Health
EchoVantage ensures that all aspects of the clinical chart are fully integrated and organized, along with the timeline, in relation to each other. This lends true clinical understanding to precipitating events and treatment activities.
"The expansion of our national offering to include Eleos Health as an embedded platform for all of our customers is a huge benefit for clinicians and their patients," said Allan Normandin, Chief Executive Officer, The Echo Group. "The Echo Group is focused on finding ways to empower our customers to be more clinically effective and financially strong. Working with Eleos Health is another step in achieving that goal by reducing the barrier of administrative tasks in the continuum of care."
This partnership puts overburdened clinicians back into the office working with clients instead of spending their time typing notes into their EHR. Beyond simplifying documentation, , this partnership will enable clinicians to quickly understand the themes in their meetings, such as suicidal thoughts or cognitive-behavioral therapy techniques, and pursue the best evidence-based practices.
Eleos Health's proprietary voice-based Natural Language Understanding (NLU) technology accurately identifies evidence-based techniques, as well as interprets the meaning of behavioral health conversations, giving clinicians objective feedback they can use with patients to identify recurring themes, issues and needs.
Eleos Health will be available to all of The Echo Group's clients as an add-on, with GRAND Mental Health, in Northeastern and North Central Oklahoma, being the first center to leverage the power of both systems to help give its care providers more time for patients. The Echo Group's partners are located throughout the U.S. and range in size, from small community behavioral health agencies to comprehensive enterprise-wide organizations.
"The ability to reduce administrative burdens for clinicians while also increasing visibility around the quality of care is invaluable in giving our staff the freedom and tools they need to focus on our mission of improving quality of life for consumers," said Josh Cantwell, COO, GRAND Mental Health. "The Eleos Health and Echo Group partnership will meaningfully ability to support clinicians and serve our communities."
About Eleos Health
Founded in 2020, Eleos Health turns behavioral health conversations into documentation and intelligence that drives better care. Using proprietary, voice-based Natural Language Understanding (NLU) technology built by clinical experts to accurately interpret, analyze and document behavioral health conversations, Eleos reduces the operational burden on providers while unlocking objective insights into evidence-based care and the therapeutic alliance. Leadership teams can scale supervision and training while gaining unprecedented visibility into staff activity, caseloads and performance as well as population health. Eleos is the only technology of its kind that embeds seamlessly into electronic health records (EHRs), telehealth tools and existing provider workflows. With Eleos CareOps Automation, behavioral health providers are setting a new standard for care.
About The Echo Group
The Echo Group, privately held since 1980, revolutionized electronic health records in the behavioral health industry with EchoVantage, the only EHR featuring a visual continuum of care timeline. EchoVantage is a core, integrated EHR platform with a complete suite of tools designed to conform to your workflow, meet compliance requirements, and increase productivity, enabling you to spend more time putting your clients. The Echo Group is located in Conway, New Hampshire, with an additional office in California. Echo has more than 80 employees dedicated to making the best behavioral health technology in the industry.