DIGITAL HEALTHCARE

Swift Medical Launches the World’s First All-in-One Hyperspectral Imaging Device to Make Healthcare More Accessible

Swift Medical | March 03, 2022

Swift Medical, the global leader in digital wound care technology, unveiled the Swift Ray 1, a groundbreaking hardware device that wirelessly attaches to a smartphone camera and captures comprehensive clinical data to better support assessment, treatment and monitoring of skin and wound conditions. The Swift Ray 1 fits in the palm of a clinician or patient’s hand, making powerful medical imaging accessible anywhere, from the hospital to the home. Further, this advanced imaging enables the capture of accurate clinical data for every patient, regardless of skin tone, making wound care more equitable for everyone.

“The future of wound care goes beyond what the naked eye can perceive and beyond the walls of the clinic, which is why our dream has always been to equalize and improve healthcare access for humanity through intelligent diagnostics. The Swift Ray 1 gets us one step closer by helping clinicians and patients see below the surface of the skin, to heal wounds faster or prevent them from ever even developing.”

Carlo Perez, co-founder and CEO of Swift Medical

The Swift Ray 1 captures and analyzes important physiological characteristics of wounds that can indicate causes for concern and/or improper healing, such as signs of infection, bacterial colonization, tissue compromise, perfusion, inflammation and blood oxygen levels. The new device illuminates these invisible, beneath-the-skin characteristics through long-wave infrared, near infrared, ultraviolet and enhanced RGB imaging technology - enabling powerful clinical workflows.

The Swift Ray 1 works seamlessly with Swift Medical’s proprietary wound management software application and provides clinicians with unparalleled insights into a patient’s wound healing, informing clinical and operational decision-making. It also integrates directly into many of the leading EHRs to help clinicians both improve clinical efficiency and ensure that all relevant medical information is recorded in the patient’s chart.

“The technology can fit in your pocket. That means it can go anywhere a doctor or nurse goes. It means it’s on them, whenever they need it, wherever their patients are,” said Mike Comer, Founder and CEO at Wound Care Advantage. “There’s no forgetting it on the shelf or fumbling around with wires and clunky imaging devices. You just take it from your pocket and snap a photo. It really does make wound care accessible anywhere.”

Chronic wounds are one of the biggest public health challenges worldwide, and are often associated with other prevalent chronic conditions, such as diabetes and hypertension. More than 8.2 million patients are currently suffering from chronic wounds in North America. As rates of obesity, diabetes and other chronic conditions continue to skyrocket, the number of patients at risk of developing wounds will continue to rise.

The challenges of providing wound care are exacerbated by the reality that high quality care traditionally requires highly trained clinicians using multiple pieces of bulky, expensive equipment in an institutional setting. Conversely, the Swift Ray 1 allows any clinician to capture and share images at any bedside, enabling healthcare organizations to provide more accessible, efficient and preventive care.

The Swift Ray 1 supports a variety of use cases, including early detection of deep tissue injuries and prevention of pressure injuries; identification of wound infections and inhibited wound healing; and remote physiological monitoring of chronic wound patients in the home. The Swift Ray 1 is also ideal for pharmaceutical companies and clinical research organizations engaged in clinical trials.

About Swift Medical
Swift Medical is the global leader in digital wound care. Our mission is to make empathy driven wound care ubiquitous through AI-powered diagnostic technology. We are the trusted wound technology partner of more than 4,100 healthcare facilities in North America across the continuum of care. Our solutions empower healthcare providers to deliver standardized, accessible and equitable wound care for every patient - with advanced, high-precision imaging, compliant documentation, clinical analytics and remote care. 

Spotlight

In an effort to understand how digital health plays an increasingly vital role in the way patients manage their health, as well as the means by which care teams manage their patients, Validic conducted a survey of the Healthcare Dive readership. This survey gathers and shares insight on how digital technologies and their corresponding data are applied in patient care today, projecting into the future. This survey includes responses from 189 hospital and healthcare system executives, directors and clinicians.

Spotlight

In an effort to understand how digital health plays an increasingly vital role in the way patients manage their health, as well as the means by which care teams manage their patients, Validic conducted a survey of the Healthcare Dive readership. This survey gathers and shares insight on how digital technologies and their corresponding data are applied in patient care today, projecting into the future. This survey includes responses from 189 hospital and healthcare system executives, directors and clinicians.

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FUTURE OF HEALTHCARE

Veritas Capital Completes Combination of Coronis Health and MiraMed Global Services

Veritas Capital | August 08, 2022

Veritas Capital a leading technology and government investor with deep healthcare expertise, announced that an affiliate of Veritas completed the combination of two complementary revenue cycle management businesses: Coronis Health and MiraMed Global Services. The combination creates a scaled RCM platform providing end-to-end technology-enabled solutions to a diverse set of healthcare providers across the U.S. The newly combined company benefits from meaningfully increased scale, end-to-end RCM capabilities across multiple specialties, and robust infrastructure with over 8,500 employees globally. The combined company will be led by Coronis CEO Stephen Grubbs. MiraMed’s founder and CEO Tony Mira will serve as Vice Chairman of the Board of Directors. Veritas has a proven track record of driving growth for companies within the healthcare technology market. The firm brings a culture of intense customer focus and accelerating growth through investment in R&D and product innovation. Coronis is a leading provider of end-to-end RCM solutions to U.S. healthcare providers including primary and specialty physician practices, anesthesia groups, laboratories, emergency medical services, behavioral health centers, FQHCs, and hospitals. Since its founding in 2015, Coronis has rapidly become an industry leader with an emphasis on quality, transparency, and customer satisfaction. Coronis’ solutions address the full RCM continuum for a patient’s journey, allowing clients to focus on delivering high quality patient care to communities they serve. Veritas acquired Coronis from 424 Capital and other minority shareholders. Founded by Tony and Sue Mira in 1979, MiraMed is a leading provider of end-to-end RCM and business process outsourcing services for anesthesia practices and commercial healthcare clients in the U.S. MiraMed delivers medical coding, billing, and receivables management solutions to regional anesthesia-focused physician practices and other commercial healthcare clients, supported by a highly strategic hybrid onshore/offshore delivery model. Veritas acquired MiraMed from the Mira family, who will retain an ownership position in the combined company. “This combination brings together two highly complementary businesses with a shared mission to improve operations for healthcare providers across the U.S. Coronis’ end-to-end RCM solutions paired with MiraMed’s expertise and global infrastructure creates a robust platform for growth in a highly fragmented market. We look forward to leveraging our expertise in healthcare technology to support the combined company and, in partnership with management, deliver innovative technology-based solutions to ensure the continued success of the company’s healthcare provider clients.” Ramzi Musallam, CEO and Managing Partner of Veritas Capital “We are thrilled to partner with Veritas Capital through this combination, which will better position us to help our clients focus on providing what’s most important – the absolute best patient care,” said Mr. Grubbs, CEO of Coronis. “MiraMed has a terrific team and value proposition, and we are confident that, with a larger platform and enhanced resources provided by Veritas, the combined company is poised for continued organic and inorganic growth to benefit our clients, employees, and partners." “Our family built MiraMed to serve the growing needs of our healthcare clients and their patients. By combining with Coronis, we created a new company with the scale, resources, and global infrastructure to provide an expanded set of solutions to our clients,” said Tony Mira, founder and CEO of MiraMed. “Together, we will expand our operational footprint to serve clients across various specialties and make investments in technology to enhance operations for our clients across the healthcare industry. I look forward to working with the talented team at Coronis, as well as Veritas, as we embark on this next chapter.” “Our investment in Coronis and partnership with Stephen and the entire management team firmly established how our playbook can create value in the healthcare technology sector,” said 424 Capital Managing Partner Walter Beinecke. “We welcome Veritas as the new stewards of Coronis and wish the team continued success.” Latham & Watkins LLP served as legal counsel to Veritas. Lincoln International LLC and TripleTree LLC served as financial advisors to Veritas. Guggenheim Securities LLC served as lead financial advisor and Whiteman Osterman & Hanna LLP served as legal counsel to Coronis. Gibson, Dunn & Crutcher LLP served as legal counsel to MiraMed. About Veritas Capital Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to Veritas. We are proud stewards of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. About Coronis Health Coronis is a leading provider of end-to-end RCM solutions to U.S. healthcare providers including primary and specialty physician practices, laboratories, and hospitals. By using industry-leading technology combined with high-touch relationship building, Coronis Health allows healthcare practitioners to focus on patient care. About MiraMed Global Services MiraMed is a leading provider of end-to-end RCM and Business Process Outsourcing services for anesthesia practices and commercial healthcare clients in the U.S. MiraMed partners with physician practices, hospitals, health networks, and related industry service organizations to provide a broad portfolio of solutions to streamline operations, improve productivity and ensure compliance.

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HEALTH TECHNOLOGY

BD Acquires MedKeeper to Offer Cloud-based, Connected Pharmacy Software

BD | July 29, 2022

BD a leading global medical technology company, announced today it has acquired MedKeeper, a provider of modern, cloud-based pharmacy management applications. MedKeeper strategically complements BD's existing presence in the pharmacy – where the company has pioneered solutions in compounding, logistics workflow, controlled substance management and inventory optimization. MedKeeper's platform will become part of the company's existing portfolio of connected medication management capabilities. By combining MedKeeper's platform with BD's broad technology expertise, the companies will work to optimize the preparation of compounded medications – a critical need in the pharmacy today. "Preparing the right dose for patients requires a combination of factors – including personnel, training, and compliance. Pharmacy leaders require IV workflow management technology that is personalized to their needs and works within their environment. Adding MedKeeper to our portfolio will enable us to offer our customers easy to use, customizable solutions that make meaningful and incremental progress in IV workflow management." Mike Garrison, Worldwide President of Medication Management Solutions at BD Today, many pharmacies leverage a combination of both manual and technical tools for their IV workflow management system. Adding MedKeeper to BD's Medication Management Solutions portfolio will further strengthen the company's ability to deliver solutions that best meet customers' needs – now and in the future. "Demands in today's pharmacy environment, such as COVID-impacted labor shortages and changing regulatory requirements, have further exacerbated the need for customizable pharmacy software solutions to support flexible, directed workflow, inventory tracking and reporting needs in sterile and non-sterile compounding," said Garrison. "Manual, time-consuming procedures that might once have been 'good enough' now can be replaced and augmented by software that enables pharmacists to provide a higher standard of care." BD and MedKeeper will work to provide customers with flexibility and capabilities in meeting industry standards for preparing compounded medications, incorporating the latest regulatory guidance. Together, the companies are dedicated to ensuring that every customer has a workflow solution that best supports their environment and delivers efficiencies to their frontline clinicians. The transaction is expected to be immaterial to BD's fiscal 2022 financial results. About BD BD is one of the largest global medical technology companies in the world and is advancing the world of health™ by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care.

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HEALTH TECHNOLOGY

ZetrOZ Systems Highlights the Rise in Health Insurance Denials, Provides Solution

ZetrOZ Systems | May 30, 2022

ZetrOZ Systems, leaders in wearable medical technology and makers of the sam® wearable ultrasound device that heals soft tissue, highlighted the rising health insurance claim denials. The organization is encouraging customers to inform themselves about their healthcare policies and challenge the first denial. Millions of people in the U.S. have experienced the devastating denial of their healthcare claims. According to Change Healthcare, 11% of 102 million medical claims at 1,500 hospitals are denied at first. The rate of denials has gone up by 20% since the year 2016. "Unfortunately, medical policies are driven by insurance company profits and fear of change. Thus, patients are often denied advanced new care when they need to access their healthcare benefits for soft tissue injuries." George K. Lewis, Ph.D. and CEO of ZetrOZ Systems "The first 'no' by an insurance policy can be turned into a 'yes' if you are informed and persistent," Lewis continued. "At ZetrOZ, we encourage patients and providers to not simply give up with the first denial of an insurance claim for therapies like Sustained Acoustic Medicine (sam®). Your insurance should always cover treatments that are proven to be both medically effective and cost-effective." If a denial letter is received, consumers can appeal against the decision. Possible issues include inaccurate paperwork, incorrect billing code, misplaced tax ID or wrongly coding the prescription or procedure. Inspite of sam®’s success, it is usually not covered by the first line of treatment. The reason is often an inadequate understanding of the costs and care by patients, insurers, and insurance providers.

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