Censinet Accelerates Healthcare Vendor Adoption of Advanced Third-Party Risk Assessment Processes

Business Wire | March 12, 2020

Censinet, the leading collaborative risk network for healthcare providers, today announced an open invitation for vendors across the healthcare industry to join Censinet’s growing database of over 5,000 risk-assessed healthcare suppliers and products. Those that complete an assessment on the Censinet platform are able to reduce third-party risk assessment times from weeks to seconds, differentiate on security, and become a trusted partner to buyers in healthcare. Recent data from the Ponemon Institute and Censinet detail the challenges vendors face when responding to risk assessment requests. Fifty-five percent of vendors feel that risk assessments are costly and time consuming, spending an average of $2.5 million annually complete. In fact, as many as 43% of vendor respondents are still using only manual, spreadsheet-based processes, which become out-of-date within three months or less of completing the ambiguous and confusing risk questionnaires.

Spotlight

GRMC is proud to be among the first facilities in the nation to install the Multitom Rax Twin Robotic X-ray system. The Robotic X-ray system features a unique and open design, with twin robotic arms that move around the patient, so the patient does not have to move. Choose GRMC for innovative technology.


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HEALTHTECH SECURITY

HeartCore Signs Fifth Go IPO Agreement with SBC Medical Group

Heartcore Enterprises Inc. | November 24, 2022

HeartCore Enterprises, Inc. a leading software development company, announced that it has signed an agreement with SBC Medical Group, Inc. for its fifth Go IPO consulting service within an eight-month period. As part of the Consulting Agreement, HeartCore will assist SBC Medical in its efforts to go public and list on the Nasdaq Stock Market Through Go IPO, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SBC Medical an aggregate of $900,000 in initial fees. In addition, HeartCore has received a warrant to acquire 2.7% of SBC Medical’s common stock, on a fully diluted basis. “Japanese companies continue to express interest in listing on the U.S. markets, and our team has successfully taken advantage of this wave as we executed our fifth Go IPO win of 2022. Prospective Japanese Go IPO clients have appreciated our expertise in helping private companies kickstart and navigate their capital markets journey with our white glove service and catered consultation, which has resulted in a robust business pipeline for HeartCore.” CEO Sumitaka Yamamoto About HeartCore Enterprises, Inc. Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company offering Software as a Service solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platfor includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. Furthermore, HeartCore offers “Go IPO,” a consulting service where it assists private companies with uplisting onto the Nasdaq Stock Market.

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MEDICAL DEVICES

NextGen Healthcare Announces Agreement to Acquire TSI Healthcare

NextGen Healthcare, Inc. | December 01, 2022

NextGen Healthcare, Inc. a leading provider of innovative cloud-based healthcare technology solutions, today announced it has signed a definitive agreement to acquire TSI Healthcare, a privately held value-added reseller located in Chapel Hill, NC. The acquisition shall be deemed effective 11:59 p.m. on November 30, 2022. The consideration is comprised of an upfront amount of $68 million, which will be paid in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025. The acquisition is expected to contribute approximately $10 to 12 million of revenue in the remaining four months of fiscal 2023 and will be accretive to adjusted EBITDA and cash flow within a year. The company plans to update guidance when it reports its fiscal 2023 third quarter results. “TSI was one of our premier clinical content and technical services partners specializing in comprehensive solutions for specialty physician practices. This acquisition enables NextGen Healthcare to expand its presence in key specialties including rheumatology, pulmonology and cardiology.” David Sides, president and chief executive officer of NextGen Healthcare “TSI Healthcare has been part of the NextGen Healthcare family over 16 years, developing specialty specific solutions exclusively on NextGen Healthcare’s platform,” said David Dickson, Jr., president and chief executive officer of TSI Healthcare. “We’re excited to extend our services expertise with NextGen Healthcare’s product and services leadership to further solidify NextGen Healthcare as among the most trusted names in ambulatory healthcare.” About NextGen Healthcare, Inc. NextGen Healthcare, Inc. is a leading provider of innovative healthcare technology solutions. We are reimagining ambulatory healthcare with award-winning solutions that enable high-performing practices to create healthier communities. We partner with medical, behavioral and dental providers in their journey toward whole person health and value-based care. Our highly integrated, intelligent and interoperable solutions go beyond EHR and Practice Management to increase clinical quality and productivity, enrich the patient experience and drive superior financial performance. We are on a quest to achieve better healthcare outcomes for all. About TSI Healthcare TSI Healthcare® is a national leader in the sales and support of customized NextGen® Practice Management and Electronic Health Record software. TSI Healthcare continues to deliver innovative, specialty-specific solutions to maximize revenue, reduce costs, and advance patient care through unmatched customer service that focuses on the human element. TSI's support teams include NextGen Certified Professionals, clinicians, and former practice administrators, based in the U.S. In addition to core products, TSI Healthcare also offers Revenue Cycle Management, Patient Portal, Population Health Management, Cloud Hosting and more.

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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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HEALTH TECHNOLOGY

Signify Health Receives NCQA’s HEDIS Allowable Adjustments Certification

Signify Health | September 26, 2022

Signify Health a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare networks to create and power value-based payment programs, has again achieved the National Committee for Quality Assurance certification for the Healthcare Effectiveness Data and Information Set. This is the second year in which the Company has received this certification. NCQA provides accreditations and certifications to evaluate a wide range of organizations across the healthcare system. More than 90 percent of health plans in the United States, covering 190 million people, rely on NCQA’s HEDIS measurement tool. The methodology that Signify Health uses to identify Medicare members who have gaps in their care and would benefit from in-home diagnostic testing was evaluated and certified by NCQA. Receiving this certification allows Signify Health to provide services that align with the industry's most rigorous data assessment processes, resulting in more accurate and timely clinical services for eligible members. “Through our comprehensive data set and analytics, Signify Health is able to effectively identify at-risk patients and connect them with the appropriate diagnostic and preventive services. We are proud to once again have achieved this NCQA certification, demonstrating our ability to effectively identify gaps in care and to support access to high-quality health services.” Marc Rothman, MD, Chief Medical Officer, Signify Health NCQA HEDIS measures relate to many of the most significant chronic health conditions facing seniors in Medicare. In 2021, Signify Health announced the certifications for diabetes care, kidney health evaluation in patients with diabetes, colorectal cancer screening, and osteoporosis management in women. In 2022, Signify Health was recertified for all of the measures from 2021 that are still recognized by NCQA and expanded its certification to include osteoporosis screening as a preventive measure for older women who have not had a fracture. Osteoporosis is a serious bone disease that impacts the quality of life, especially for women aged 67-85. With the appropriate screenings and interventions, the risk of future bone fractures related to osteoporosis can be reduced. HEDIS® is a registered trademark of the National Committee for Quality Assurance. NCQA Measure Certification Program™ is a trademark of the National Committee for Quality Assurance. 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. About NCQA NCQA is a private, nonprofit organization dedicated to improving health care quality. NCQA accredits and certifies a wide range of health care organizations. It also recognizes clinicians and practices in key areas of performance. NCQA’s Healthcare Effectiveness Data and Information Set is the most widely used performance measurement tool in health care.

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Spotlight

GRMC is proud to be among the first facilities in the nation to install the Multitom Rax Twin Robotic X-ray system. The Robotic X-ray system features a unique and open design, with twin robotic arms that move around the patient, so the patient does not have to move. Choose GRMC for innovative technology.

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