FUTURE OF HEALTHCARE
Skylight Health Group | December 14, 2022
Skylight Health Group Inc. a healthcare platform combining technology and analytics focused on transitioning patients into value based care to drive better health outcomes and experiences in the United States, announced that its Board of Directors has authorized, and the Company has declared, a dividend on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares for the month of January 2023. The Series A Preferred Shares trade under the “SLHGP” stock ticker symbol.
In accordance with the terms of the Series A Preferred Shares, the Series A dividend will be payable in cash in the amount of $0.1927 per share on January 20, 2023 to the shareholders of record of the Series A Preferred Stock as of the dividend record date of December 30, 2022.
The Company also wishes to update details of the Company’s previously announced shares for debt on September 15 and 16, 2022. The Company will settle a total of $438,400 in debt by issuing an aggregate of 626,286 common shares to the creditors at a deemed price of $0.70 per common share, in satisfaction of the debt.
About Skylight Health Group
Skylight Health Group is a healthcare services and technology company, working to positively impact patient health outcomes. The Company operates a US multi-state primary care health network comprised of physical practices providing a range of services from primary care, sub-specialty, allied health, and laboratory/diagnostic testing. The Company is focused on helping small and independent practices shift from a traditional fee-for-service model to value-based care (“VBC”) through tools including proprietary technology, data analytics and infrastructure. In an FFS model, payors (commercial and government insurers) reimburse on an encounter-based approach. This puts a focus on the volume of patients per day. In a VBC model, the providers offer care that is aimed at keeping patients healthy and minimizing unnecessary health expenditures that are not proven to maintain the patient’s well-being. This places emphasis on quality over volume. VBC will lead to improved patient outcomes, reduced cost of delivery and drive stronger financial performance from existing practices.
Intuit | December 02, 2022
Intuit the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced it has entered into an agreement to acquire SeedFi, the partner behind Credit Karma’s Credit Builder1, which helps low, or no-credit borrowers build credit while saving money, all for free. Credit Builder offers a line of credit and a secured savings account enabling members to build their credit while building up savings. By combining SeedFi’s Credit Builder technology with Credit Karma’s long standing relationships with credit bureaus and others in the credit ecosystem, Intuit will be able to move with greater speed and scale to help Credit Karma members make financial progress.
Late last year, Credit Karma entered into a partnership with SeedFi to offer Credit Builder to its members, enabling them to make regular payments, starting with as little as $20 per month or $10 per paycheck. By reporting these payments to the credit bureaus, members took steps toward improving their financial health. Through this partnership, members increased their score by an average of 21 points in as little as 30 to 45 days2 and built up over $10 million in savings. This acquisition will enable Credit Karma Money to continue to build on that momentum and help put more members on a path to financial security.
“Credit Karma Money was built to change consumers’ relationship with money and help them develop responsible financial habits, like staying on top of their bills and spending within their means. With Credit Builder, we are able to differentiate ourselves as one of the best accounts for building credit. We have long standing relationships with credit bureaus and others in the credit ecosystem, and SeedFi has built great technology, so when combined, we will move even faster and build products to help more members, including those who need it the most.”
Poulomi Damany, SVP and GM for Credit Karma Money and Tax
A recent study from the Consumer Financial Protection Bureau showed that nearly three-quarters of Americans with no emergency savings have credit scores below 660. The correlation between low credit scores and lack of emergency savings persists over time, and SeedFi takes that problem head-on. Similar to Credit Karma, SeedFi’s mission is to break the cycle of debt and help Americans realize their financial potential.
“We have already been working with the Credit Karma Money team for over a year to help members build their credit score and have been impressed with how Credit Karma’s mission comes through in everything the company does. SeedFi has a similar mission to help consumers become financially fit, so joining forces just makes sense,” said SeedFi co-founder and CEO Jim McGinley. “Together, leveraging Credit Karma’s resources and scale, we will be able to accelerate the momentum of Credit Builder and SeedFi’s technology capabilities to help more consumers improve their financial health.”
The transaction between Intuit and McBurberod Financial, Inc. which does business as SeedFi, is subject to closing conditions, and is expected to close in the coming months. Upon close, SeedFi will become part of Intuit’s Credit Karma business. The transaction is not expected to have a material impact on Intuit’s operating results for the full fiscal year 2023. Terms of the transaction have not been disclosed. Intuit Ventures was an investor in SeedFi’s last financing round.
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With more than 100 million customers worldwide using TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social.
About Credit Karma
Founded in 2007 by Ken Lin, Credit Karma, an Intuit company is a consumer technology company with nearly 130 million members in the United States, U.K. and Canada, including almost half of all U.S. millennials. While best known for pioneering free credit scores, the company’s members turn to Credit Karma for everything related to their financial goals, including identity monitoring, applying for credit cards, shopping for loans auto insurance, savings accounts and now checking accounts through our bank partner, MVB Bank, Inc., Member FDIC — all for free.
FUTURE OF HEALTHCARE, MEDICAL DEVICES
Catalyst Solutions | December 22, 2022
Catalyst Solutions announces the publication of the white paper, Third Party Administration for Healthcare Payers. This white paper reviews the unique needs that self-funded and fully-insured plans might have for Third Party Administration as well as, the services and benefits TPAs provide.
As an industry, healthcare continues to experience constant change. The landscape is dynamic, and new challenges are on the horizon. Mergers, acquisitions, and partnerships are occurring at an unprecedented rate - and the government continues to introduce mandates to which the healthcare plan must adhere. These factors continue to add demands on plans that are already facing budgetary and resource constraints.
"To manage these challenges healthcare payers are increasingly outsourcing business processes to Third Party Administrators. Just like in organizations, outsourcing allows them to focus on what they do best, which is: improving the healthcare outcomes of their membership."
Scott Martin, President of Catalyst Solutions
TPAs deliver administrative support to self-funded businesses and fully-insured healthcare plans. Both are increasingly outsourcing day-to-day operational services to a TPA, which is driving significant cost savings and reducing the administrative burden.
Catalyst Solutions provides a full suite of TPA services. Its team of fully-trained, US-based employees can deliver the operational and technology functions required by a healthcare plan or self-funded business. Catalyst seeks to maximize the performance of healthcare plans by taking a holistic view of people, process, and technology. "Catalyst engages plans at a strategic level," Scott Martin said, "aligning our outsourcing services to our customer's business goals. We use our industry expertise to anticipate our customers' long-term needs. Our services don't end with outsourcing – we become trusted advisors in helping our customers achieve a better future."
About Catalyst Solutions
Catalyst Solutions has an extensive history of exclusively serving the payer industry. With 20+ years of deep industry expertise, Catalyst provides outsourced BPO, IT, and consulting services. As a diversity-certified, woman-owned company based in the U.S., our mission is to help insurance payers drive down costs, optimize revenue, and most importantly, improve member healthcare outcomes. We deliver comprehensive and flexible solutions that meet the unique needs of payers, and we are committed to exceeding customer expectations by providing unmatched, white-glove service. We are passionate about making positive and measurable change on behalf of the clients we serve and the communities in which we live.
Signify Health, Inc. | December 15, 2022
Signify Health, Inc. a leading healthcare platform that leverages advanced analytics, technology and nationwide healthcare networks to create and power value-based payment programs, today announced an expansion of its relationship with Ardent Health Services, a premier provider of healthcare services with more than 200 sites of care across six states. A former participant in the Center for Medicare and Medicaid Innovation’s Bundled Payments for Care Improvement-Advanced program, Ardent will join a 2023 Signify-enabled accountable care organization (ACO) to implement care transformation, manage risk and provide high-quality, coordinated care for its Medicare patients.
Ardent’s affiliated network of facilities and physicians in New Mexico, Oklahoma, Texas, and Kansas will work together with independent providers in a collaborative ACO model to achieve the benefits of scale and to effectively manage risk. The strategic collaboration will support alignment with the Centers for Medicare & Medicaid Services’ (CMS) goal of having all Medicare beneficiaries enrolled in an accountable relationship by 2030.
“Ardent is proud of our success to date in value-based care, including the work we have done to transform our patient experience after discharge to achieve an over 26% reduction in our 90-day readmission rate and improve the clinical outcomes among participating patients,” said Marty Bonick, President and CEO of Ardent Health Services. “We are excited to expand our partnership with Signify Health to bring our patients proven preventive and care management services that will help drive better health and improve the overall experience for both patients and care teams.”
Earlier this year, Signify Health acquired Caravan Health, a leader in enabling sustainable ACO and population health programs. With this acquisition, Signify Health supports one of the largest networks of at-risk providers and offers one comprehensive platform to manage total cost of care. In 2020 and 2021, 100% of Signify Health’s collaborative ACO participants earned shared savings.
According to Tim Gronniger, Chief of Value-based Care Solutions, Signify Health, “CMS has stated that providers will soon be expected to move away from fee-for-service and take accountability for their cost of care. We are thrilled to work with Ardent Health Services to deliver the infrastructure needed to support their success with accountable care. Through our work together, Ardent’s Medicare patients will receive increased access to preventative and in-home services that can help to diminish health inequities and increase savings.”
About Signify Health
Signify Health is a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. Our mission is to build trusted relationships to make people healthier. Our solutions support value-based payment programs by aligning financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings. Through our platform, we coordinate what we believe is a holistic suite of clinical, social, and behavioral services to address an individual’s healthcare needs and prevent adverse events that drive excess cost, all while shifting services towards the home. For more information on how we are taking health homeward, visit us at signifyhealth.com.
About Ardent Health Services
Ardent Health Services invests in people, technology and communities. Through its subsidiaries, Ardent owns and operates 30 hospitals and nearly 200 sites of care in six states with more than 24,000 employees, including 1,200+ employed providers. With a focus on evidence-based practices to improve quality care and patient outcomes, 95% of eligible Ardent hospitals received a Leapfrog Hospital Safety Grade of A or B for Fall 2022, compared with 57% of all ranked U.S. hospitals. In 2022, Modern Healthcare recognized six Ardent entities as "Best Places to Work," marking the 14th consecutive year an Ardent facility was recognized. Based in Nashville, Tennessee, Ardent is owned by current and former members of Ardent’s management team; Equity Group Investments (EGI), a Chicago-based private investment firm; and Ventas, Inc. (NYSE: VTR), a publicly traded real estate investment trust.