Costly specialty drugs drive higher spending on provider-administered treatments, study finds

Spending per member in commercial plans on medical pharmacy drugs increased by nearly 20% between 2016 and 2017, due in part to the growing number of emerging therapies with high price tags. Magellan Rx Management, the pharmacy benefit management arm of managed-care company Magellan Health, released its ninth annual trend report diving into spending on drugs administered by providers, and it found that per-member, per-month spending on these therapies increased by 18% from 2016 to 2017, reaching an average of $29.97 monthly, for people enrolled in commercial plans. Spending on provider-administered drugs in Medicare also went up, the study found. Per-beneficiary, per-month spending increased by 12% in that same window, to an average of $52.19.

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Health Technology, Digital Healthcare

Montage Health Launches Innovative At-Home Patient Monitoring Service

Montage Health | September 22, 2023

Montage Health Connected Care has launched an advanced service to enhance the quality and accessibility of healthcare for patients. This home-based patient monitoring service, supported by Cadence, is designed to offer proactive healthcare to individuals managing chronic medical conditions. Dr. Mark Carvalho, Chief Executive Officer of Montage Medical Group, explained that the program lessens the need for emergency department visits by extending care directly to patients' homes. He emphasized that this approach offers mutual advantages for patients and healthcare providers. Patients can gain access to an expanded care team from the comfort of their homes. At the same time, he added that clinicians will benefit from improved insights into disease progression and receive support from a nurse-practitioner-led care team, ultimately enhancing patient safety. Montage Health's advanced remote care initiative represents a significant progression in its dedication to providing exceptional, personalized, value-based healthcare tailored to individual needs and objectives. This program combines cutting-edge remote monitoring technology with a clinical care team under the direction of nurse practitioners to enable real-time collection, analysis, and response to patients' vital signs. It will support patients with medication management, laboratory assessments, and coaching to ensure outstanding healthcare and promote optimal well-being. The process involves the daily use of smart devices for remote vital sign monitoring and remote care telephone consultations involving a diverse healthcare team. Chris Altchek, CEO and Founder of Cadence said, Montage Health exemplifies best-in-class preventative, restorative, and coordinated care with their strong track record of innovative programs and collaborative partnerships. [Source – Business Wire] Medicare beneficiaries will gain access to this offering at Montage Medical Group locations, resulting in reduced healthcare costs. This will also empower healthcare professionals to provide patients with better, more effective care. About Montage Health Montage Health is a local non-profit organization that delivers exceptional healthcare and promotes optimal health. The company strives to provide coordinated care that meets individual needs through its subsidiaries and partnerships with healthcare providers and community organizations. Its entities include Community Hospital of the Monterey Peninsula, Montage Medical Group, Montage Health Foundation, Montage Wellness Center, Aspire Health, and MoGo Urgent Care. About Cadence Cadence is a healthcare technology firm that assists the most patient-focused healthcare systems in consistently delivering proactive healthcare. The company's remote patient intervention solution blends technology and clinical expertise to deliver a tailored and precise standard of care that extends beyond the hospital's physical boundaries.

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Health Technology, Digital Healthcare

Aspect Imaging to bring Improvements in NICUs for Vizient

Aspect Imaging | September 25, 2023

Aspect Imaging, a global leader in MRI systems for neonatal patients, has been awarded an Innovative Technology contract by Vizient, the nation's largest provider -driven healthcare performance improvement company. This contract recognizes the unique qualities of Aspect Imaging's Embrace Point of Care Neonatal MRI System and its potential to bring improvements to the healthcare industry. The Embrace Point of Care Neonatal MRI System is designed specifically for the imaging needs of prematureand newborn infants, making it a critical tool in neonatal intensive care units (NICUs). The Embrace is the world's first FDA-cleared and CE-approved MRI system for neonatal patients. It is designed to be placed directly within NICUs, overcoming the size and risk limitations associated with adult MRI scanners. The system includes features such as a temperature-controlled patient bed and a Whisper Quiet sound profile to meet the specific care needs of neonatal patients. This technology enables safer and more accessible MRI imaging for fragile neonatal patients and provides critical information to the clinical care team. Chief Commercial Officer at Aspect Imaging, Wendy Slatery, stated, It is an honor to have the Embrace recognized by the clinical experts at Vizient, as an Innovative Technology, and an exciting opportunity to bring valuable solutions to Vizient customers. We are looking forward to working with Vizient members seeking to expand and elevate neurocritical care of the smallest patients while reducing patient risks and staff time associated with transporting newborns to a traditional MRI. The Embrace MRI gives the neonatal medical team access to information from the life’s first hours and throughout the patient’s time in the NICU, on which critical care decisions will be based. [Source: Business Wire] Vizient's provider customer-led councils recommended the Embrace system for an Innovative Technology contract after evaluating its potential to enhance clinical care, patient safety, and healthcare worker safety, or improve business operations in healthcare organizations. The recognition and award of this contract highlight the potential of the Embrace Point of Care Neonatal MRI System to improve neurocritical care for the smallest patients while reducing risks associated with transporting newborns to traditional MRI facilities. About Aspect Imaging Aspect Imaging, a pioneering force in the field, stands as the global frontrunner in crafting and advancing compact MR imaging systems tailored for both research and clinical use. Their groundbreaking technology centers on compact, high-performance permanent magnets, introducing transformative MRI solutions to tackle unmet requirements in research and medical contexts. These innovations ensure the delivery of the finest quality images, whether at the benchtop or in point-of-care scenarios.

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Health Technology

Home Care Delivered, Inc. Completes Acquisition of Medline Industries, LP's DMEPOS Supplier Business Unit

PR Newswire | October 17, 2023

Home Care Delivered, Inc. a leader in providing medical supplies including diabetes/CGM, incontinence, wound, urological, and ostomy products, is excited to announce the successful acquisition of Medline Industries, LP's DMEPOS supplier business unit. This strategic move will significantly enhance HCD's market presence, expand its geographical footprint, and provide access to a broader customer base while reinforcing relationships with patients, healthcare plans and providers, and manufacturers. "The transaction represents a major milestone for HCD by leveraging over 25 years of distinguished expertise in medical supplies," said Gordy Fox, founder and chief executive officer of HCD. "This acquisition aligns with our commitment to delivering personalized and compassionate customer experiences while leveraging Medline's DMEPOS supplier assets, and continuing to provide our industry expertise and best-in-class customer service." said Brad Mariam, executive vice president, Medline. With the transition of Medline's DMEPOS supplier assets to HCD, a company that shares in our commitment to exceptional service and patient care, Medline will continue to focus on its core role as an industry leader in the manufacturing and distribution of quality medical supplies. [Source: PR Newswire] "By integrating Medline's DMEPOS supplier assets, we are accelerating our growth strategy, delivering an avenue for expanded cost-efficiencies and member adherence," said Lowell Price, senior vice president of business development and chief growth officer of HCD. "This strategic move aligns with our commitment to delivering superior customer service, additional product offerings and ensuring reliable delivery to our members. HCD is well-positioned to continue to elevate customer experiences and reinforce our market presence." About Home Care Delivered, Inc. Home Care Delivered is a leading direct-to-consumer provider of insurance-covered medical supplies of diabetes testing, incontinence, urology, ostomy and wound care supplies delivered directly to the patient's home. Founded in 1996 and headquartered in Glen Allen, Virginia, Home Care Delivered is dedicated to providing best-in-class customer support and quality supplies for patients and caregivers nationwide.

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Healthcare Analytics

Weave Introduces AI-Driven Voicemail Transcriptions for Healthcare Providers

Business Wire | October 31, 2023

Weave a leading all-in-one experience platform for small and medium-sized healthcare practices, today announces the addition of AI-driven voicemail transcriptions to its platform. Now available to Weave’s 27,000+ customers, Voicemail Transcription automatically transcribes voicemails from patients allowing for efficient, visible, and private reading experiences. With this update, users will now see the voicemail transcription when they click on the Voicemail tab within their Desktop Application or within the mobile app, improving overall user experience by making it faster to consume messages without having to listen to the audio, which can often be difficult in busy settings. said Branden Neish, Chief Product and Technology Officer at Weave. AI has exploded in popularity over the past year, and we’re taking steps to ensure Weave is delivering state of the art offerings that empower our customers to enhance patient experiences and deliver top of the line care. AI will only continue to grow in popularity and daily use, which will have a transformative impact on the future of the healthcare industry. Weave customers that have already implemented AI into their practices claim they save an average of an hour a day with the technology. [Source:Business Wire] In a new customer and consumer report conducted by Weave, the company found that patients are accepting of AI in healthcare settings and they see it leading to enhanced care and patient experiences. In fact, the majority of consumers (65%) are open to providers using AI tools in their practices. The report also found that consumers and providers are aligned with how they think AI will impact the healthcare industry, with two in three consumers (67%) and 3 in 4 (75%) healthcare providers believing that AI is likely to become a prevalent tool in healthcare. "Artificial Intelligence is the catalyst for a new era in healthcare,” says Dr. Matt Nejad, DDS of Beverly Hills, CA. “Weave's AI-enabled voicemail transcripts are a leap in this direction, providing automation and actionable insights that empower providers to focus on what truly matters: patient care." This announcement follows months of AI-driven activity from Weave to enhance features that allow healthcare providers to deliver quality care and improve patient experiences, including Email Assistant and Response Assistant. About Weave Weave is a leading all-in-one customer experience platform for small- and medium-sized healthcare businesses. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with and engage customers to grow their business. In the past year, Weave has been named a G2 leader in Patient Engagement, Optometry, Dental Practice Management and Patient Relationship Management software.

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