4 Ways How Startups are Solving Challenges Plaguing Indian Healthcare

Entrepreneur | May 20, 2019

India is poised to be the world’s 3rd largest economy by 2030, according to Economic Affairs Secretary Subhash Chandra Garg. While India has witnessed strong economic growth in recent years, it has not made commensurate progress in other areas, such as healthcare. Improvements in healthcare expenditure, outcomes, and infrastructure, especially on the public side, have not kept pace with economic growth. In fact, poor quality of healthcare is the biggest cause of preventable deaths in India. A 2018 report published in The Lancet showed that nearly 2.4 million Indians die of treatable conditions every year. The scenario continues to be dire for the country’s rural and urban poor citizens, who have little or no access to quality, affordable, healthcare. Hopefully, visionary government schemes, such as Ayushmaan Bharat, if funded appropriately, will change the face of healthcare for these groups.

Spotlight

Rockford Memorial Hospital completed a nearly three-year journey to earn the prestigious Baby Friendly Designation this May. The hospital is one of only six in Illinois to receive this honor and one of 267 birthing centers nationwide. The designation certifies the hospital has implemented ten steps to help mothers of newborns successfully breastfeed. These steps include providing education to staff and providers, educating pregnant mothers of the benefits of breastfeeding, starting early skin-to-skin and breastfeeding within one hour of birth, teaching feeding cues and educating on how to initiate and maintain breastfeeding, even if separated. The process changed the way new moms and babies are cared for and allows for providing an optimum level of care and support for infant feeding and mother/baby bonding.


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HEALTHTECH SECURITY

Tivic Health to Acquire Assets of Reliefband

Tivic Health | October 18, 2022

Tivic Health® Systems, Inc. a commercial-phase health technology company focused on bioelectronic medicine, announced it has entered into a definitive agreement to acquire the Reliefband product line for nausea treatment and all related assets from Reliefband Technologies, LLC. Reliefband has been an innovator in wearable, FDA-cleared electronic therapeutics for treatment of nausea and vomiting. Reliefband has multiple products available both over-the-counter and by prescription. “We are incredibly excited to add the full suite of Reliefband products to our commercial portfolio. The Reliefband team successfully pioneered a direct-to-consumer business model for medical products. This acquisition, when combined with our growing direct-to-consumer sales of ClearUP, will significantly accelerate Tivic’s revenue opportunities.” Jennifer Ernst, CEO of Tivic Health Recurring nausea impacts approximately 1 in 6 US adults. According to QY Research, nausea treatment is a $2.4B market in the US and $5.5B globally, growing at 6.5% CAGR. Reliefband’s wrist-worn electronic nerve stimulators have been FDA-cleared for treatment of nausea associated with seven independent clinical indications, including nausea from motion sickness, pregnancy, migraines, anxiety, chemotherapy, various medications and hangovers. The patented products are backed by 40 peer-reviewed clinical studies and have generated over 3500 Amazon reviews averaging 4+ stars. Both Reliefband and ClearUP products offer consumers ways to manage health-related conditions without the issues and side effects often associated with medication use. Both are FDA-cleared, highly effective, fast-acting, convenient, and drug-free. Both currently are sold primarily online, and both have received CE Marks allowing international expansion. In addition to the Reliefband direct-to-consumer branded products, Tivic will also acquire Reliefband’s Reletex-branded prescription nausea treatments. Reletex products are currently distributed by hospitals and medical professionals and are reimbursed under HCPCS code E0765 for certain conditions. “We look forward to growing Tivic with the addition of clinically proven, revenue-producing bioelectronic products that have seen strong customer adoption and growth,” continued Ernst. Consideration to be provided by Tivic consists of up to $33.5 million, of which up to $1.5 million can be paid, at the election of Tivic, in restricted common stock of Tivic. Consideration is subject to working capital adjustments, less Reliefband transaction expenses and any indebtedness of Reliefband at closing. The transaction is expected to be consummated in the fourth quarter of 2022 or first quarter of 2023 after the satisfaction of certain customary closing conditions, including but not limited to securing the financing necessary to pay the purchase price. Additional information on the transaction can be found in a Current Report on Form 8-K filed by Tivic with the Securities and Exchange Commission (SEC).

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HEALTH TECHNOLOGY

TechTarget Launches Prospect-Level Purchase Intent Data for Healthcare in Latest Release of its Priority Engine Platform

TechTarget | October 03, 2022

TechTarget, Inc. the global leader in B2B technology purchase intent data and services, announced that it has launched Priority EngineTM for Healthcare to help sales and marketing teams leverage its proprietary prospect-level intent data to fuel more opportunities and pipeline with buying groups at top companies across the healthcare industry. This new offering provides direct access to Xtelligent Healthcare MediaTM and TechTarget’s combined opt-in audience of healthcare tech and business decision-makers in one SaaS solution delivering customized insights specifically for B2B organizations targeting healthcare. “Being able to provide our customers with 1st party intent data on the largest healthcare technology and information audience on the web is a true game changer in our industry,” said Sean Brooks, Co-Founder, Xtelligent Healthcare Media. “Sales and marketing teams will now have direct access to entire healthcare buying teams, including Clinicians, Line of Business and IT Decision-Makers, to find more opportunities and accelerate technology deals.” These new enhancements Add thousands of new accounts and 400,000+ new contacts into Priority Engine to provide better visibility into and opportunities to engage with full buying teams across the entire interconnected healthcare ecosystem, including: Providers, Health Systems, Payers, Pharmaceuticals, Life Sciences, Accountable Care Organizations and Federal/State Healthcare Agencies. This includes 90% coverage of health systems in the US. Deliver increased access to opt-in business decision-makers directly involved with healthcare purchasing. Xtelligent Healthcare Media’s audience consists of more than 70% Business & Finance Executives and Clinicians who have critical involvement across healthcare technology purchases that are becoming increasingly complex. Provide highly relevant, customized intent insights on topical interests, content consumption and vendor engagement of healthcare technology buyers at both the account and prospect-level to help marketing and sales teams to convert more opportunities and accelerate deals with better informed, personalized and timely outreach. TechTarget purchase intent insight is uniquely powerful because of how it is made and how it is delivered to B2B tech marketers and sales professionals. The actionable insights within the Priority Engine platform are achievable because of the depth of original editorial and vendor content spanning thousands of unique IT and business topics across TechTarget’s network of over 150 technology-specific websites and 1,125 channels. As enterprise technology buying teams grow and purchasing becomes more and more complex, we provide the information and resources to help every member of the team to research and make decisions. Priority Engine for Healthcare helps TechTarget to continue to grow and help its customers succeed in a relevant adjacent market that includes high levels of purchasing complexity and buying dynamics. “By expanding the amount of permission-based, relevant 1st party purchase intent data our customers have access to and delivering a full suite of marketing, sales and go-to-market services to engage real buyers, we help companies of all sizes achieve better results at scale in this market. As a leader in coverage of B2B enterprise tech for more than 20 years – combined with working very closely with our almost 3,000 customers – TechTarget has unique visibility into the buying dynamics across every major sector of the market. Our experience positions us well to bring our model to adjacent vertical markets with similar attributes to enterprise B2B tech - long/complex-sales cycles, large purchases, multiple members of the buying team and a strong need for 1st party data to enable marketers and sellers – just as we have done in Healthcare.” Michael Cotoia, CEO, TechTarget About TechTarget TechTarget is the global leader in purchase intent-driven marketing and sales services that deliver business impact for enterprise technology companies. By creating abundant, high-quality editorial content across more than 150 highly targeted technology-specific websites and 1,125 channels, TechTarget attracts and nurtures communities of technology buyers researching their companies’ information technology needs. By understanding these buyers’ content consumption behaviors, TechTarget creates the purchase intent insights that fuel efficient and effective marketing and sales activities for clients around the world.

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HEALTH TECHNOLOGY

Philips advances AI-powered diagnostic systems and transformative workflow solutions at RSNA 2022

Royal Philips | November 28, 2022

Royal Philips a global leader in health technology announced its portfolio of smart diagnostic systems and transformative workflow solutions featured at the Radiological Society of North America annual meeting. Powered by AI, the company will showcase its latest systems and informatics solutions designed for providers to efficiently deliver patient-centric, high-quality imaging services. Overwhelming volume of radiology data compounding staff shortages and burnout Radiology plays a critical role in diagnosing and guiding patients into the right treatment plans. However, with increasing staff shortages and workloads, radiologists and staff continue to struggle to manage and interpret the huge volume of data captured to provide quality care for each patient. In the recent Future Health Index 2022 report commissioned by Philips, 24% of radiology leaders surveyed stated that managing the sheer volume of data available to them is their top data-related issue, with nearly two-thirds (65%) indicating their staff are overwhelmed by data overload. “With 47% of radiologists experiencing burnout [1], our customers are looking for innovations to help reduce their workloads and seamlessly integrate into their day-to-day operations. With smart intelligence built into imaging systems and informatics across the radiology workflow, Philips’ integrated solutions condense large volumes of data into patient-centric actionable insights for earlier and more definitive diagnosis and treatment.” Kees Wesdorp, Chief Business Leader of Precision Diagnosis at Philips AI-powered solutions enhance operational efficiencies and simplify complex workflows Some of the biggest challenges facing radiology leaders today are driven by managing complex, disconnected workflows which can negatively impact patient care, staff experience, outcomes, and cost. Visitors to the Philips booth at RSNA will see how the company’s latest interoperable and vendor-neutral operational solutions and strong portfolio of smart connected imaging systems help streamline and transform the radiology workflow to improve patient and staff experience; advance clinical and diagnostic confidence for better health outcomes; and drive a sustainable, resilient diagnostic infrastructure to help lower the cost of care. Featured at RSNA will be Philips’ AI-enabled technology [2] that automates and accelerates routine and repetitive tasks to generate patient-centric insights from large volumes of data to help improve productivity. Solutions include Philips Imaging Orchestrator – ROCC and Philips Ultrasound Collaboration Live, both pioneering the virtualization of radiology, extending care and collaboration beyond traditional models. Philips Imaging Orchestrator – ROCC, a vendor-neutral, multi-modality, multi-site telepresence solution provides advanced tele-acquisition capabilities and seamlessly connects imaging experts at a command center with technologists at scanning locations across an organization. Philips Ultrasound Collaboration Live tele-ultrasound, available on Philips ultrasound systems – EPIQ Elite and Affiniti – allows teams to securely video stream from their ultrasound system to a PC or mobile device for remote, on-demand access to clinical expertise regardless of location. Philips will also introduce the latest in AI-enabled image interpretation to help prioritize patient worklists based on clinical outcomes and expand diagnostic capabilities with its new Philips Advanced Visualization Workspace, with enhanced features to automate reporting and help drive earlier and more definitive diagnosis. Also featured is Philips Enterprise Performance Analytics – PerformanceBridge – to enhance operational decision-making through a vendor-neutral, real-time data analysis solution to help improve productivity and reduce costs. Smart connected imaging systems advance clinical and diagnostic confidence New at RSNA, Philips’ AI-powered MR SmartSpeed is designed to increase speed, image quality, and productivity and drive diagnostic confidence with improved image resolution via the AI reconstruction algorithm. It utilizes Philips’ state-of-the-art speed engine and an award-winning [3] AI reconstruction technology delivered at the source of the MR signal to ensure no data loss. SmartSpeed joins the company’s expanding portfolio of AI-driven MR solutions which includes AI-based touchless patient sensing, SmartExam, and MR Workspace. Philips will also showcase MR 5300, Philips’ newest BlueSeal Magnet, and industry-first wide bore helium-free operations system design for sustainable imaging at lower site costs without image quality or clinical compromises. Philips will spotlight its award-winning Spectral CT 7500, the company’s latest dual-detector CT system helping radiologists better characterize disease and reduce scan times at the same dose levels as conventional scans. Used in oncology imaging, cardiac imaging, and interventional radiology, the system has demonstrated a 34% reduction in time to diagnosis, a 25% reduction in repeat scans and a 30% reduction in follow-up scans [4]. Philips will also demonstrate its latest innovations in minimally-invasive care with the company’s SmartCT 3D suite of interventional tools including its Azurion 7 C20 with FlexArm Image-Guided Therapy System and Zenition 70 Mobile C-arm with Flat Detector. Philips will also introduce the Ultrasound Compact 5000 Series system and the Philips Lumify Handheld Ultrasound, now featuring pulse wave Doppler for all physicians – from cardiologists and radiologists to emergency care – to quickly assess hemodynamics in cardiac function anytime, anywhere. Also making its first appearance at RSNA is Philips Fluoroscopy 7000 N – ProxiDiagnost N90, combining digital radiography and high-end nearby fluoroscopy to help enhance clinical confidence and improve patient and staff satisfaction. About Royal Philips Royal Philips is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries.

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FUTURE OF HEALTHCARE

Verizon Business and Visionable expand connected healthcare partnership

Visionable and Verizon | September 22, 2022

Verizon Business and Visionable, a leading health technology company based in the U.K., announced that they are expanding their partnership which will enable both companies to work on a range of connected healthcare solutions, via Visionable’s patented technology powered by Verizon’s 5G Ultra Wideband and 5G Edge network, in the U.S. Verizon and Visionable are working together on a secure next-generation digital healthcare collaboration platform that enables healthcare professionals to access data, collaborate and share resources within the APAC and EMEA regions. The partnership seeks to address some of healthcare’s biggest challenges including connecting frontline responders to specialist doctors during emergencies and enabling access to community-led care for patients needing long-term support. “The healthcare industry generates a massive amount of data, but its ability to make good use of that data has long been hampered by network architectures that cannot handle it efficiently, securely, or cost-effectively. Through the combination of 5G and Edge computing, healthcare facilities and professionals will have access to secure near-real-time connectivity creating a new link between doctor and patient. As a result, illnesses could someday be diagnosed and treated more quickly, and medical costs could potentially decrease,” Scott Lawrence, Senior Vice President for Verizon Global Solutions Today’s announcement follows the launch of Visionable’s private-5G enabled Connected Healthcare Center in the U.K. in May. The center showcases the benefits of next-generation connectivity and collaboration across a patient’s care journey from urgent and emergency care to virtual wards to in-person care and rehabilitation, supported by Verizon private 5G. “Our partnership provides real-time connectivity and productivity, when and where it counts and costs. Together with Verizon, we endeavor to support our healthcare teams by enabling them to bring healthcare to the patient wherever they are,“ said Alan Lowe, CEO and Co-Founder of Visionable. This engagement is part of Verizon’s continued strategy to partner with customers, startups, universities, and large enterprises to explore how 5G can disrupt and transform nearly every industry. This includes Verizon’s strategic partnership with Emory Healthcare in Atlanta where Verizon is collaborating with Emory Healthcare to help spur the development of healthcare solutions powered by 5G Ultra Wideband. Today’s announcement builds on the company’s network-as-a-service foundation and supports its growing private networks, mobile edge compute and business solutions. About Visionable Visionable is a UK company that is helping make connected healthcare a reality in the UK and around the world. Driven by the belief that affordable, high-quality, timely healthcare is a basic human right that should be accessible to all, Visionable’s patented, real-time & multi-streaming technology enables critical remote decision-making by clinicians wherever they are located have created their own proprietary clinical collaboration platform. This enables the hospital to come to the patient and for healthcare teams to collaborate freely across multiple locations. Visionable is trusted by 25% of the top 100 UK hospitals, 100 more than 90 NHS organisations, 46 and 34 NHS Trusts., over 16,000 NHS staff. Visionable’ s specialist advisory board includes Lord Victor Adebowale, previous NHS board member, Mike Farrar, ex-NHS Chief Executive and leader of the North West England Strategic Authority and Dr Junaid Bajwa, practising physician and MSD’s Digital Accelerator’s Global Lead for Strategic Alliances. About Verizon Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

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Spotlight

Rockford Memorial Hospital completed a nearly three-year journey to earn the prestigious Baby Friendly Designation this May. The hospital is one of only six in Illinois to receive this honor and one of 267 birthing centers nationwide. The designation certifies the hospital has implemented ten steps to help mothers of newborns successfully breastfeed. These steps include providing education to staff and providers, educating pregnant mothers of the benefits of breastfeeding, starting early skin-to-skin and breastfeeding within one hour of birth, teaching feeding cues and educating on how to initiate and maintain breastfeeding, even if separated. The process changed the way new moms and babies are cared for and allows for providing an optimum level of care and support for infant feeding and mother/baby bonding.

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