Avera taps pharmacogenomics to help providers choose the right medicine

Healthcare Finance | January 31, 2019

Avera Health, an integrated system in the Midwest, uses pharmacogenomics to allow providers to pick the right medication for a specific patient, and delivers the information to the clinical point of care through a ready-to-use format in the EHR. Avera employes this pharmacist-driven interpretation to provide better care for patients being treated for a wide range of conditions including pain, cardiovascular disease and behavioral health issues. The organization has seen success in increased numbers for improved medication regimens and quality of life with its pharmacogenomics, or PGx program, said Krista Bohlen, director of Personalized Pharmaceutical Medicine at Avera.

Spotlight

Managing denials and collecting patient payments are the two most significant operational challenges faced by hospitals. Heading into 2019 and thinking about your hospital's financial priorities, what are the biggest Revenue Cycle challenges for your hospital? Days in A/R is the most frequently used metric by hospitals of all sizes to measure revenue cycle management (RCM) performance.


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HEALTH TECHNOLOGY

Netsmart and Bamboo Health Collaborate to Champion Care Coordination and Crisis Management

Netsmart | April 12, 2022

Netsmart announced a partnership with Bamboo Health, a leading provider of data and healthcare IT solutions, to create a comprehensive behavioral health referral network supporting the nationwide effort to respond to the need to implement a 988 crisis management system. Through this strategic technology partnership, Netsmart and Bamboo Health will partner to create one of the most robust crisis management solutions in the market. The integrated solution will expedite access to treatment for those in crisis, connect individuals to a network of care and enable effective post-crisis care coordination. Netsmart will integrate the Bamboo Health OpenBeds solution within the CareManager™ population health management platform, currently utilized by many health home organizations, managed care organizations, human services and post-acute care providers across the country. By working together to connect healthcare providers, emergency departments and crisis response professionals across a national network, OpenBeds and Netsmart will deliver an advanced system to help states, counties and providers respond to 988 and crisis line demands. Streamlining mobile crisis service coordination, treatment facility bed availability, electronic transfers and referrals to behavioral health services, the solution will create a full-picture view of an individual’s journey, including health history and treatment and services, making it easier for providers to get patients engaged with the right level of care they need quickly. Netsmart and Bamboo Health are excited to announce that the Missouri Behavioral Health Council will be deploying the solution as part of a statewide approach to create a comprehensive statewide crisis network (known as Missouri Behavioral Health Connect – MOConnect). MOConnect will support crisis management for the Missouri Department of Mental Health, Missouri Behavioral Health Council (MBHC) and its member organizations, and community response and health partners across the state. With the vision of MBHC and its members, Missouri Behavioral Health Connect will validate the value of an integrated and connected statewide approach to crisis management and care coordination. “By collaborating with Netsmart, together we will be able to strengthen our statewide networks to effectively manage and respond to crisis by integrating our OpenBeds solution within the CareManager population health and care coordination platform,” said Bamboo Health CEO Rob Cohen. “Through this innovative technology initiative, we can leverage one of the largest community-based interoperability networks in the country to connect with the larger healthcare ecosystem. Together, we enable care coordination and leverage robust data and analytics for population health management that improves patient outcomes during and post-crisis.” MBHC, a longtime partner of Netsmart, leverages many components of the CareFabric platform and began using CareManager to eliminate data silos and streamline the complex process of operationalizing population health management in 2016. MBHC members have significantly advanced their workflows using CareManager and have expanded their use cases within the platform to additional programs, including the CCBHC model which is transforming service delivery for Community Mental Health Centers across the country. “We are excited to be a part of this unique partnership and continue to leverage technology to enable our award-winning care teams across the state with the right technology to support delivering the best care. In Missouri, we are going ‘Beyond the Call’ in our approach to implementing the 988 Crisis Hotline by working together with all stakeholders to ensure individuals in need have not just someone to call in their time of need but connecting them to resources to enable better long term outcomes. By approaching the rollout of a comprehensive crisis system in the context of all of the behavioral health initiatives underway in Missouri, including the CCBHC model, we can make this happen.” MBHC CEO & President Brent McGinty The CCBHC model enables agencies to deliver a comprehensive range of physical, mental health and substance use treatment and services, providing expanded care while helping lower costs across the behavioral health ecosystem. Behavioral health providers that achieve CCBHC certification are uniquely positioned to serve as a foundation for the nation’s new crisis response system and Missouri has led the way in proving the value of the CCBHC initiative. “We are thrilled to announce our new partnership with Bamboo Health, as we collectively redefine how states facilitate crisis management,” said Netsmart CEO Mike Valentine. “We believe teaming up with industry-leading technology providers to further extend the value of our CareFabric platform demonstrates our commitment to innovation and collaboration to meet our clients’ needs. As a longtime partner of MBHC and advocate for CCBHC funding, we couldn’t be happier to see this project come to life and continue to enhance this and other statewide efforts.” To hear more about the Netsmart, Bamboo Health and MBHC strategic technology partnership stop by the Netsmart booth 313 at the National Council of Mental Wellbeing Conference (NATCON22) in Washington, D.C., April 11 – 13. About Bamboo Health Bamboo Health is a healthcare technology solutions company, focused on fostering care collaboration and providing information and actionable insights across the entire continuum of care. As one of the largest, most diverse care collaboration networks in the country, our technology solutions equip healthcare providers and payers with software, information, and insights to facilitate whole person care across the physical and behavioral health spectrums. By serving 2,500 hospitals, 8,000 post-acute facilities, 25,000 pharmacies, 32 health plans, 50 state governments, and over one million acute and ambulatory providers through more than 500 clinical information systems electronically, we impact over 1 billion patient encounters annually in provider workflow. Health systems, payers, providers, pharmacies, governments, individuals, and other organizations rely on Bamboo Health to improve care and reduce cost. Connect with Bamboo Health on Twitter, LinkedIn and Facebook. Visit www.BambooHealth.com to learn more. About Missouri Behavioral Health Council The Missouri Behavioral Health Council’s mission is to enable access to quality mental health services to all Missouri citizens in need of such services, while maximizing their human potential and quality of life. This mission will be accomplished through the continued maintenance and development of a stable statewide network of comprehensive community based behavioral healthcare. About Netsmart Netsmart, a leading provider of Software as a Service (SaaS) technology and services solutions, designs, builds and delivers electronic health records (EHRs), health information exchanges, analytics and telehealth solutions and services that are powerful, intuitive and easy-to-use. Our platform provides accurate, up-to-date information that is easily accessible to care team members in the human services and post-acute care (which is comprised of home care and hospice and senior living) markets. We make the complex simple and personalized so our clients can concentrate on what they do best: provide services and treatment that support whole-person care.

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HEALTH TECHNOLOGY

Stryker, One of the World’s Leading Medical Technology Companies, announces definitive agreement to acquire Vocera Communications

Stryker | January 07, 2022

Strykerannounced today a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc.for $79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion (including convertible notes). Vocera, which was founded in 2000, has emerged as a leading platform in the digital care coordination and communication category. The importance of this growing segment has continued to expand throughout the pandemic as it aims to reduce cognitive overload for caregivers and enables them to deliver the best patient care possible. Vocera brings a highly complementary and innovative portfolio to Stryker’s Medical division that will address the increasing need for hospitals to connect caregivers and disparate data-generating medical devices, which will help drive efficiencies and improve safety and outcomes. Vocera’s highly developed software competency, unique and innovative hardware solutions, and the ability to securely enable remote communication between patients and their families, complements Stryker's Advanced Digital Healthcare offerings. The combined business will further advance Stryker’s focus on preventing adverse events throughout the continuum of care. “This acquisition underscores our commitment and focus on our customer. Vocera will help Stryker significantly accelerate our digital aspirations to improve the lives of caregivers and patients.” Kevin Lobo, Chair and Chief Executive Officer, Stryker “Today’s milestone represents an exciting opportunity for Vocera given the clear alignment of mission, goals and culture between our two organizations and our ability to drive even greater economic and clinical value for our customers,” said Brent Lang, Chairman and Chief Executive Officer, Vocera. Under the terms of the merger agreement, Stryker will commence a tender offer for all outstanding shares of common stock of Vocera for $79.25 per share in cash. The boards of directors of both Stryker and Vocera have unanimously approved the transaction. The closing of the transaction is subject to expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, completion of the tender offer and other customary closing conditions. The acquisition is expected to close in the first quarter of 2022 and is expected to have a neutral impact to net earnings per diluted share in 2022. About Stryker Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. About Vocera The mission of Vocera Communications, Inc. is to improve the lives of healthcare professionals, patients, and families. Founded in 2000, Vocera provides clinical communication and workflow solutions that help protect and connect team members, increase operational efficiency, enhance quality of care and safety, and humanize the healthcare experience. More than 2,300 facilities worldwide, including nearly 1,900 hospitals and healthcare facilities, have selected Vocera solutions to enable their workforce to communicate and collaborate with co-workers and engage with patients and families. Mobile workers can choose the right device for their role or task, including smartphones or one of the company’s wearable communication devices, and use voice commands to easily reach people by name, role, or group. The hands-free Vocera Smartbadge was named to TIME’s list of the 100 Best Inventions of 2020. Vocera solutions can integrate with more than 150 clinical and operational systems, including electronic health records, nurse call systems, ventilators, physiological monitors, and more. In addition to healthcare, Vocera solutions are found in aged care facilities, veterinary hospitals, schools, luxury hotels, retail stores, power facilities, and more.

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FUTURE OF HEALTHCARE

Gozio Health Announces Financial Partnership with Morgan Stanley Expansion Capital

Gozio Health | March 31, 2022

Gozio Health, an industry-leading location-aware mobile patient engagement platform, announced the closing of an investment from funds managed by Morgan Stanley Expansion Capital. The investment round will be used to accelerate Gozio's growth and sets the stage for a long-term financial partnership. “We are at a turning point in healthcare where digital strategy is not only a competitive differentiator for health systems but is foundational to positive consumer experiences. An effective digital platform can enhance engagement with patients, prevent revenue leakage and increase overall patient satisfaction. With the strong support of Morgan Stanley, Gozio is poised to substantially ramp up efforts to equip health systems with the kind of robust, extensible platform needed to optimize digital engagement.” Joshua Titus, Founder and CEO of Gozio Gozio’s mobile patient engagement solution provides health systems with a turnkey digital front door, offering a unified platform which integrates HCIT applications, including physician directories, appointment scheduling, EHR and patient record access, into an easy-to-use mobile application. Gozio’s solution also leverages the Company’s patented, industry-leading wayfinding technology to provide real-time, turn-by-turn directions to patients and staff. “The consumerization of healthcare is driving hospitals and health systems to increasingly focus on patient experience and engagement. Gozio offers a solution that helps patients not only navigate the physical network of the health system, but also provides patients mobile access to the services, information and applications necessary to engage patients in their own care,” said Melissa Daniels, Managing Director at Morgan Stanley Expansion Capital. “We believe Gozio’s digital front door and wayfinding technology provide a compelling value proposition by enhancing the personal end-to-end consumer experience within the network of the health system. We are thrilled to be partnering with Joshua and the Gozio team to support the Company as it continues on its growth trajectory.” Gozio will use the funding to expand its client base among leading health systems, grow its client services and engineering teams, and advance the extensibility of its platform to support a digital health ecosystem. About Gozio Health Gozio Health offers an end-to-end, customizable digital health platform exclusively for healthcare systems. Gozio’s extensible mobile platform enables seamless consumer interactions and provides an anytime, anywhere connection to patients that improves their overall experience and access to care. Popular patient engagement features include patented indoor wayfinding with turn-by-turn navigation, virtual visits, physician directories, appointment scheduling, access to electronic health records, Urgent Care and Emergency Department wait-times, and extensive analytics capabilities. Gozio customers surveyed in a 2021 KLAS Research Emerging Technology Spotlight report found 100% satisfaction and improved experience for patients and staff. About Morgan Stanley Expansion Capital Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.

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AI

Aidoc partners with Novant Health, providing imaging AI to expedite treatment for patients in the emergency department

Aidoc | January 25, 2022

Aidoc,the leading provider of enterprise-grade AI solutions for medical imaging, announces a partnership with Novant Health, a health network of over 1,800 physicians with 15 medical centers across three states. By incorporating Aidoc's AI platform, which includes seven FDA-cleared solutions for triage and notification of patients with acute medical conditions, Novant Health is taking proactive steps to improve patient outcomes and reduce emergency department (ED) length of stay amid resource constraints inflicted by the Omicron variant. With a dedication to digital transformation for improving workflow efficiencies and patient outcomes, Novant Health is one of the first health networks inNorth Carolinato adopt Aidoc's AI platform. Novant Health has integrated multiple technologies and has been recognized by the College of Healthcare Information Management Executives'(CHIME) "Digital Health Most Wired" program five years in a row for effectively applying "core and advanced technologies into their clinical and business programs to improve health and care in their communities." "When diagnosing and treating critical pathologies like pulmonary emboli and hemorrhagic strokes, every second counts," said Dr. Eric Eskioglu, Executive Vice President Chief Medical and Scientific Officer, Novant Health. "We are thrilled to partner with Aidoc to bring yet another leading-edge AI-technology to Novant Health. For years, we've been committed to harnessing innovative technologies to improve patient safety and outcomes through the Novant Health Institute of Innovation and Artificial Intelligence. With Aidoc's technology, our physicians will be able to more quickly identify and prioritize these patients and provide rapid life-saving treatments." From Aidoc's AI platform, Novant Health will be utilizing the intracranial hemorrhage (brain bleeds), pulmonary embolism (lung blood clots), incidental pulmonary embolism, c-spine fracture, and abdominal free air AI solutions. In one example, a studyconducted by the Yale New-Haven Health System found that Aidoc's intracranial hemorrhage AI solution was able to reduce ED length of stay by approximately one hour. "With rapidly rising numbers of people infected with the highly contagious Omicron variant, we can see the hard impact on hospital emergency room capacities and resources across the U.S. We're proud to partner with a leading, innovative hospital network like Novant Health, which serves a large portion of the population in the three states its facilities are located in. Together, through our AI solutions and their state-of-the-art facilities, we will enable radiologists and related hospital providers to expedite care for tens of thousands of patients, contributing toward a mitigation of the current emergency room situations and setting an example for integrating innovation during turbulent and non-turbulent periods." Elad Walach, CEO and co-founder of Aidoc About Aidoc Aidoc delivers the most comprehensive and widely-used portfolio of AI solutions, supporting providers by flagging patients with suspected acute conditions in real-time, expediting patient treatment and improving quality of care. Aidoc's healthcare AI platform is currently used by thousands of physicians in hospitals and radiology groups worldwide and across multiple care coordination service lines, having analyzed over 10.3 million scans in the past year. About Novant Health Novant Health is an integrated network of physician clinics, outpatient facilities and hospitals that delivers a seamless and convenient healthcare experience to communities inNorth Carolina,South Carolina, andGeorgia. The Novant Health network consists of more than 1,800 physicians and over 35,000 employees who provide care at nearly 800 locations, including 15 hospitals and hundreds of outpatient facilities and physician clinics. In 2021, Novant Health was the highest-ranking healthcare system inNorth Carolinato be included onForbes'Best Employers for Diversity list. Diversity MBA Magazineranked Novant Health first in the nation on its 2021 list of "Best Places for Women & Diverse Managers to Work." In 2020, Novant Health provided more than$1.02 billionin community benefit, including financial assistance and services.

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Spotlight

Managing denials and collecting patient payments are the two most significant operational challenges faced by hospitals. Heading into 2019 and thinking about your hospital's financial priorities, what are the biggest Revenue Cycle challenges for your hospital? Days in A/R is the most frequently used metric by hospitals of all sizes to measure revenue cycle management (RCM) performance.

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