AmWell acquires Aligned Telehealth to flesh out its behavioral health, telepsychiatry capabilities

MobiHealthNews | November 07, 2019

Telehealth giant American Well has struck a deal to acquire Aligned Telehealth, a vendor of telepsychiatry and behavioral health that services providers and payers. American Well says that this move will make it the largest enterprise telepsychiatry platform operating in the US. At this time, the companies are not sharing any terms of the deal such as its price, official effective date or whether there would be any staffing ramifications. Aligned Telehealth is the leading player in on-demand telepsychiatry services, supporting major medical centers and Medicaid plans in their efforts to meet the needs of patients,” Dr. Ido Schoenberg, chairman and CEO of American Well, said in a statement. “By adding the Aligned clinical network and expertise, American Well can further expand and enhance our virtual behavioral health programs, an exciting and important endeavor that will positively impact patients, their families and the treatment teams providing their care, while advancing clinical outcomes and reducing overall costs.

Spotlight

Healthcare executives are focused on constantly improving the safety of their facility, the satisfaction of their staff, the quality of care provided to their patients and costly workflow inefficiencies. Real-Time Location Services (RTLS) is providing healthcare providers with innovative solutions to address these challenges. Nick Garner, Senior Solutions Architect at Denali highlights some of the ways RTLS can be utilized in a healthcare setting.


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HEALTH TECHNOLOGY

AESOP Technology Wins Coveted Place in Mayo Clinic Platform_Accelerate Program to Build Better AI Model for Healthcare

AESOP TECHNOLOGY | August 23, 2022

AESOP Technology announced that they have been accepted into Mayo Clinic Platform Accelerate, a 20-week program that helps early-stage health tech AI startups get market-ready. Participants are selected through a competitive screening process where a panel of Mayo Clinic leaders reviews them from the clinical and operational perspective, led by John Halamka, MD., President of Mayo Clinic Platform. "It's an excellent opportunity for a medical AI startup like us. Data is the fuel from which everything grows into power, and this program provides de-identified patient datasets and tools to help us validate our solutions. This practical experience will help us go even further in developing better products. The fact that we get to be mentored by Mayo Clinic's reputable experts is inspiring." Jeremiah Scholl, the CPO of AESOP Technology 'AESOP', which stands for 'AI-Enhanced Safety of Prescription', is working to make physician data entry easier, faster, and less error-prone using machine learning on 3.2 billion data sets. The company has developed products capable of this. One is RxPrime which detects wrong drug errors by checking if medications match patients' diagnoses, age, and gender. Errors can happen at any stage of the medication-use process, but more than 50% of them occur during the prescribing phase. RxPrime is able to detect potential and unexplained errors in prescriptions and provide optimal recommendations, even for the look-alike-sound-alike medication errors. It offers just-in-time decision support without interfering unnecessarily with the clinical consultation process. The other is AESOP Technology's latest clinical documentation improvement tool, DxPrime, making it easier for doctors to input correct diagnoses into electronic health record systems. This task can be challenging as there are 68,000 different diagnosis codes under the International Classification of Diseases. The ICD codes were designed to support insurance and billing rather than clinical medicine. "Medical professionals are more overwhelmed with their workload after the pandemic. How AI can support them gains more importance," says Jim Long, the CEO of AESOP Technology. "AI is transforming the healthcare industry in a variety of ways, like any other industry. Healthcare has unique challenges, and this program will help us be more grounded." As a participant of the Mayo Clinic Platform_Accelerate, AESOP Technology is glad to expose themselves to real-world applications, which helps cultivate future growth in this rapidly progressing field. As part of the program, Mayo Clinic will take an equity position in the startup. About AESOP Technology AESOP aims to optimize the clinical decision support process with more flexible AI-powered technology to improve patient safety and medical coding quality.

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HEALTHTECH SECURITY

Komodo Health Appoints Lauren Stahl as Head of Sales

Komodo Health | September 29, 2022

Healthcare technology company Komodo Health announced that Lauren Stahl has been appointed as the company’s Vice President and Head of Sales, effective immediately. In this capacity, Stahl’s responsibilities include sales team leadership across Komodo’s entire portfolio of customers, overseeing operational strategy to drive business efficiencies amid year-over-year growth and market expansion. As Komodo’s new Head of Sales, Stahl will oversee the company’s entire sales organization, with responsibilities for driving business and revenue growth as Komodo scales its offerings and footprint across more than a dozen market segments. Today’s appointment is the latest example of strategic business enhancements being made to power the next phase of innovation, growth, and productivity for the company. The new sales structure will further optimize business development and customer collaboration opportunities as the company introduces new capabilities across its technology platform and software applications. “Lauren has demonstrated an exceptional track record of deepening customer relationships and unlocking new market and customer sales channels. As Komodo continues to invest in its end-to-end technology platform, having Lauren at the helm of our sales teams will only further accelerate our efforts to put Komodo’s best-in-class technology platform and patient-centric insights in the hands of organizations across Life Sciences, payers, government entities, and more.” Aswin Chandrakantan, MD, Chief Operating Officer at Komodo Health Stahl has been driving value for Komodo and its customers for more than three years, quickly rising through the ranks as an individual sales executive to their most recent position as Komodo’s Vice President of Healthcare Sales, where Lauren and their team focused on strategic partnerships with a variety of healthcare innovators to deliver data-driven impact for health plans, digital marketers, consultancies, and more. In this new role overseeing Komodo’s entire sales organization, Stahl will serve as a key sales leader to deliver impact in new market segments and continue to drive hypergrowth revenue for the company. “I’m humbled and inspired to expand my leadership responsibilities and am eager to continue building on the company’s success and impact in the market,” said Stahl. “Representing Komodo means being a champion for how we are redefining the way healthcare and Life Sciences companies drive innovation into the market. Our technology platform and solutions empower our customers to transform extraordinary amounts of data into rich and meaningful insights that can improve health outcomes.” Stahl brings nearly 15 years of deep healthcare expertise to this new role, along with extensive financial and sales knowledge drawn from their career on Wall Street and leadership at several digital health companies. Before joining Komodo, Stahl was Head of Customer Success at Datavant, and was previously the CEO and founder of Sparkite, a company focused on addiction and substance abuse aftercare treatment. About Komodo Health Komodo Health is a technology platform company creating the new standard for real-world data and analytics by pairing the industry’s most complete view of patient encounters with enterprise software and machine learning that connects the dots between individual patient journeys and large-scale health outcomes. Across Life Sciences, payer, provider, and developers, we help our customers unearth patient-centric insights at scale — marrying clinical data with advanced algorithms and AI-powered software solutions to inform decision making, close gaps in care, address disease burden, and help the enterprise create a more cost-effective, value-driven healthcare system.

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HEALTH TECHNOLOGY

Cue Health Provides Enhanced Care & Protection for Immunocompromised Populations & Clinical Care Teams at Fresenius Kidney Care

Cue Health Inc. | August 25, 2022

Cue Health Inc. a healthcare technology company announced a new collaboration with Fresenius Kidney Care to provide the most accurate* COVID-19 self-test to certain patients and clinical care teams. People who are immunocompromised have been disproportionately affected by COVID-19 throughout the pandemic and remain highly dependent on measures that reduce the likelihood of infections, including vaccination. Cue can be used by vulnerable patient populations and their care partners to detect and treat COVID-19 early, often before complications arise and hospitalization is required. This is especially important in remote locations where timely and accurate results are critical for making clinical treatment decisions. Fresenius Kidney Care in Hawaii, Alaska, Puerto Rico, Guam, and Saipan will use the Cue Health Monitoring System and Cue COVID-19 Test to screen employees and test symptomatic immunocompromised patients in-center and at-home. "This is a great example of how Fresenius Kidney Care is seeking out the best technologies to ensure we do everything we can to protect our vulnerable patient population from COVID-19," said Ines Dahne-Steuber, President of Spectra Laboratories, a Fresenius Medical Care company providing laboratory diagnostics to dialysis centers across the country. "This collaboration with Cue will help us provide patients with greater access to high-quality timely diagnosis and care in our effort to improve health outcomes while lowering costs." Fresenius Kidney Care operates more than 2,600 dialysis centers in the U.S., providing more than 200,000 patients annually with services that include at-home peritoneal dialysis, at-home hemodialysis, in-center hemodialysis, and additional clinical care resources. "By utilizing Cue's platform, Fresenius Kidney Care can continue to provide its life-saving services to immunocompromised patients with confidence they are using the most accurate COVID-19 self-test. We treat accuracy as non-negotiable so healthcare-affiliated organizations across the country can continue to trust Cue for their testing needs in high-stakes environments." Ayub Khattak, Chairman and CEO of Cue Health Fresenius Kidney Care is one of the growing number of healthcare-affiliated organizations and internationally-recognized hospital systems throughout the U.S working with Cue to transform how diagnostic healthcare is delivered to close gaps in the patient journey and drive improved health outcomes. Cue is used in many other point-of-care settings such as Johns Hopkins Medicine and Mayo Clinic, by world-class organizations across the country, including Google, the National Basketball Association, and Major League Baseball, and in homes. Cue's test uses molecular nucleic acid amplification technology (NAAT) providing lab-quality results directly to connected mobile devices in 20 minutes. The test can detect all known COVID-19 variants and subvariants of concern - including Omicron, BA.4, and BA.5 - and can be used on adults and children (age 2 years and over for over-the-counter (OTC) / home use and under 2 for professional use), with or without symptoms. About Cue Health Cue Health is a healthcare technology company that makes it easy for individuals to access health information and places diagnostic information at the center of care. Cue Health enables people to manage their health through real-time, actionable, and connected health information, offering individuals and their healthcare providers easy access to lab-quality diagnostics anywhere, anytime, in a device that fits in the palm of the hand. Cue Health's first-of-its-kind COVID-19 test was the first FDA-authorized molecular diagnostic test for at-home and over-the-counter use without a prescription and physician supervision. Outside the United States, Cue Health has received the CE mark in the European Union, Interim Order authorization from Health Canada, regulatory approval from India's Central Drugs Standard Control Organization, and PSAR authorization from Singapore's Health Sciences Authority. Cue was founded in 2010 and is headquartered in San Diego.

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HEALTH TECHNOLOGY

WELL Forms Canadian Clinics Business Unit, Expands Credit Agreement, and Ramps up Clinic Growth

WELL Health Technologies Corp. | July 15, 2022

WELL Health Technologies Corp. a practitioner focussed digital health company positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce it has formed a new legal entity called WELL Health Canada Clinics Inc. to house its Canadian omni-channel clinical businesses. These businesses include the Company's previous Primary Care, Allied Care and MyHealth Specialized Care business units. The Canadian Clinics Business Unit represents WELL's owned and operated fleet of Omni-Channel outpatient clinics leveraging WELL's highly integrated 'hybrid' brick and mortar and virtual service capabilities and includes the Company's primary care, specialized care, allied health, and diagnostics services but does not include the Company's TiaHealth.com service which is part of WELL's Virtual Services division. This business unit supports almost 1,300 healthcare practitioners who provide 1.87 million patient visits annually on a run-rate basis(2); over 40% of these patients are seen remotely via one of WELL's virtual or telehealth platforms, with the remainder treated in one of WELL's 81 Canadian clinics(3). This business is also expected to generate revenues exceeding $160 million with double digit operating Adjusted EBITDA(4) margins. Driven by WELL's consolidation and capital allocation efforts, this business has been experiencing organic growth rates approaching double digit percentage growth. The Canadian Clinics business unit is a key pillar in WELL's mission to empower practitioners. Dr. Michael Frankel, WELL's Chief Medical Officer, said "This consolidation of our Canadian clinics business provides WELL with the proper foundation to become a national health system providing the very best in highly integrated 'bricks and clicks' care. We are excited to provide healthcare practitioners with a compelling home where they are supported with exceptional front and back-office support and technology solutions so they can provide critical care to their patients. We intend on further developing our services from coast to coast." WELL will look to continue its consolidation and modernization of healthcare resources in Canada powered by its organic growth and with the help of its funding partners RBC, the Bank of Montreal, HSBC Bank Canada, The Toronto-Dominion Bank, ICICI Bank Canada and Laurentian Bank of Canada (collectively the "Lenders"). RBC is the Lead Arranger, Sole Bookrunner, and Administrative Agent on the financing. The Lenders have amended previous MyHealth credit facilities to include the newly formed Canadian Clinics Business Unit, as well as provided an extension of their credit commitments for an incremental year, extending the maturity to June 2026. The facilities are currently priced at an interest rate which is equivalent to SOFR/CDOR plus 1.25% to 3.25%(5), depending on the debt to Adjusted EBITDA ratio of the consolidated results for the Canadian Clinics Business Unit. WELL's goal is to continue to grow Canada's largest network of outpatient clinics using a combination of greenfield sites and new acquisitions. WELL is pleased to confirm that it has added a primary care clinic in Vancouver to its network and a new greenfield haemorrhoid treatment center in Hamilton, Ontario. The Company's combined investment to add these two clinics to the network is less than $100k. The combined annual revenues of the two clinics are expected to exceed $2 million in their first year under WELL and be profitable. The Company's recently announced acquisition of Calgary based InLiv, a premium provider of healthcare services in the Province of Alberta, will also be part of the Canadian Clinics Business Unit upon closing and is expected to exceed $7 million per year in revenues with 85% of such revenue reflecting recurring membership revenue. "We are thrilled to have the continued support of our banking partners and to announce the amendments to our existing Canadian credit facilities. Our ability to expand our Canadian credit agreement with favourable terms in the present challenging macroeconomic environment is not only a testament to the fantastic support we are receiving from our banking partners but also the strength of WELL's outpatient clinic business. The updated credit facilities allow us to more efficiently deploy capital towards our strategic priorities and generate more shareholder value by improving our revenue and Adjusted EBITDA per share metrics." Hamed Shahbazi, CEO and Founder of WELL WELL's objective is to continue to grow its Canadian Clinics Business Unit both organically and inorganically and continue to demonstrate market leadership as the country's first pan-Canadian clinical network with a highly integrated network of tech-enabled outpatient healthcare clinics across the country. About WELL Health Technologies Corp. WELL is a practitioner focused digital healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end to end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on OTCQX under the symbol "WHTCF".

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Spotlight

Healthcare executives are focused on constantly improving the safety of their facility, the satisfaction of their staff, the quality of care provided to their patients and costly workflow inefficiencies. Real-Time Location Services (RTLS) is providing healthcare providers with innovative solutions to address these challenges. Nick Garner, Senior Solutions Architect at Denali highlights some of the ways RTLS can be utilized in a healthcare setting.

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