CVS plans aggressive expansion of healthcare services

Medicaleconomics | June 06, 2019

Pharmacy chain CVS announced plans to open 1,500 “HealthHUB” locations across the country in the next three years, another major move that shows that traditional physicians practices will face further competition from mega corporations.CVS already has more than 1,000 MinuteClinics in the United States, in which non-physician providers, usually a nurse practitioner, provides acute care for minor illnesses and injuries, along with basic screening services.The HealthHUB concept goes beyond that, and represents “a powerful example of how CVS Health can provide consumers with convenient, personalized and integrated access to local healthcare,” according to a CVS press release.

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Paramount to population health management success under risk-based contracts is strategic oversight of the rising risk-individuals with two or more unmanaged health conditions. One quarter of respondents to the 2016 Population Health Management survey by the Healthcare Intelligence Network zero in on their own rising risk populations.


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HEALTH TECHNOLOGY

Future Health announced today that it has completely digitalised its annual in-person event at ExCeL London

Future Health | March 02, 2021

Future Health has completely rebranded during lockdown, and the flagship face-to-face event Future Health Innovations at ExCeL is now complemented by a global virtual conference series, under the brand UK Health Week. Free for delegates to attend, it is CPD and CME accredited. Participants will be able to connect, meet buyers and partake in cross border purchasing, education and deal making, enabling an increased ROI and profitable encounters with its AI powered networking software. Further Health Weeks are being rolled out around the world over the course of the coming months, and will be territory specific. Dawn Barclay-Ross, Event Director commented: “I think there will always be a place for face-to-face events; and we are contracted with ExCeL for a live ‘in person’ event four years in advance to 2025. However, as a result of international travel restrictions, health professionals in global markets are looking for on-line engagement”. Future Health offers buyers and sellers the ability to operate on line, and to research and access the products and services that their hospitals and citizens desperately need. Dawn concluded, “In the immediate post COVID era, health buyers want to be able to operate from the comfort of their desk or smart device, and they now can, from literally anywhere in the world”. AboutFuture Health Future Health is an independent exhibition and conference organiser, based in London in the UK. For further information regarding exhibiting, visiting and sponsorship opportunities at Future Health Innovations or UK Health Week Please call +44 (0) 208 012 8511 Email: hello@futurehealthinnovations.com or to sign up to the Future Health platform, register at www.futurehealthinnovations.com

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HEALTH TECHNOLOGY

Office Ally Announces Acquisition of Bluemark

Office Ally | May 11, 2022

Office Ally, a leading provider of electronic clearinghouse and healthcare software solutions,announced that is has acquired Bluemark, LLC, a provider of specialized healthcare software for healthcare professionals and community-based organizations. Financial terms of the transaction were not disclosed. Founded in 2001, Bluemark provides specialized healthcare software and adaptive technology, including revenue integrity and Medicaid enrollment solutions, for hospitals, health systems, nursing homes and community-based organizations across the country. Bluemark offers four unique products that span Payer Audit Management and Assistance Program Enrollment, enabling healthcare professionals to both enhance reimbursement processes and achieve workflow efficiencies. “As a leader in healthcare revenue cycle software, Bluemark has built an impressive suite of high-quality RCM products that are designed to provide mature cloud-based technology solutions that simplify some of the most complex processes in healthcare finance. Not only are Bluemark’s self-pay and health information handling solutions highly complementary to our solution set at Office Ally, but the company’s network of hospital and health system relationships expands our customer base into some of the largest providers of care in the US.” Chris Hart, CEO of Office Ally “We are thrilled to be growing the Office Ally platform with the addition of Bluemark. Together, we believe there is an incredible opportunity to leverage our extensive network of providers and combined solution set to further scale our offerings as a leading healthcare technology company,” continued Hart. With the acquisition of Bluemark, Office Ally will be able to expand its product set and add new health information handler credentials. In addition, the complementary nature of the two businesses will allow Office Ally to better serve existing customers with an integrated suite of healthcare software solutions now spanning self-pay management and Medicaid enrollment. “Over the last two decades, Bluemark has been a pioneer and innovator in healthcare finance by developing unique solutions to drive the enrollment of self-pay patients into Medicaid and associated benefit programs, as well as the electronic exchange of health information between providers and audit contractors. We are thrilled to be joining Office Ally, and look forward to better serving our customers as the healthcare market continues to evolve,” said Ken Sacks, CEO of Bluemark. About Office Ally Office Ally is a healthcare technology company that offers cloud-based solutions to healthcare providers, independent physician associations (IPAs) and health plans. Office Ally’s platform supports both the management of care and facilitates payments between providers, health plans and patients. Office Ally’s platform is paired with a clearinghouse that enables the secure exchange of healthcare information including claims, remits, and eligibility information between covered entities and across the healthcare market. About Bluemark Bluemark, LLC, is a specialized software and technology developer that provides expert solutions for healthcare professionals. Bluemark helps clients maximize reimbursement and achieve workflow efficiencies through the development of technology-based business process solutions for revenue cycle and HIM audit and compliance processes. Backed by a national footprint and strong industry relationships, Bluemark offers mature SAAS-based technology solutions that are time-tested, proven and positioned to evolve with the healthcare market’s changing needs.

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DIGITAL HEALTHCARE

Purpose Investments Announces Launch of Purpose Healthcare Innovation Yield ETF, Canada’s First Fund to Focus on Innovation in Biotech and Healthcare

Purpose Investments | January 19, 2022

Purpose Investments Inc. (“Purpose Investments” or “Purpose”) is pleased to announce the launch of Purpose Healthcare Innovation Yield ETF (the “Fund”). The Fund has closed the offering of its initial units, and units of the Fund will begin trading today on the Toronto Stock Exchange under the ticker, HEAL. The Fund is the first of its kind in Canada to provide actively managed exposure to innovation leaders in biotech and healthcare. The recent advances in healthcare are only the beginning of what Purpose believes to be a new multi-year cycle in biotech and healthcare breakthroughs that will provide investors with opportunity for attractive long-term returns. The Fund will invest in an all-cap portfolio in the high-growth areas of gene-editing, digital healthcare, medical testing, dental, health maintenance, hospitals, pharmacies, and animal health. The portfolio holdings are primed for long-term growth and armed with commercialization opportunities and a strong pipeline of products under development. The Fund will also employ a covered call options strategy to generate additional yield and will have a more attractive income profile than the broad healthcare index. “The past two years have shown just how important it is to have innovative companies develop vaccines and push forward medical advancements. Between the pandemic and our aging population, the spotlight is on the industry to really grow and innovate. We launched this Fund to give Canadians an opportunity to get actively managed exposure to the healthcare companies that are changing the world with cutting-edge medical and technological advancements.” Som Seif, founder and CEO of Purpose Investments Purpose is the manager of the Fund and Next Edge Capital Corp. (“Next Edge Capital”) will act as the Fund’s sub-advisor. The Fund will be actively managed by Eden Rahimof Next Edge Capital, one of the world’s leading experts in healthcare investing. Mr. Rahim has an academic background in molecular genetics and extensive experience managing life-science and biotech portfolios. His active management, informed by his science background and industry experience, will position the Fund to capitalize on high-growth opportunities in the biotech and healthcare sectors. “With this Fund, we will work to strategically identify key healthcare companies developing innovations that will profoundly improve people’s lives,” says Rahim. “Purpose Healthcare Innovation Yield ETF aims to provide investors with exposure to unique opportunities that may not be on their radar, so they can reap the full rewards of the high-growth areas in healthcare and science.” “Eden is one of the leading global experts in healthcare investing, and someone who understands the math as well as the science backing the portfolio. We are excited to have such a seasoned portfolio manager help us maximize the growth opportunities in the space and provide investors with a strategy to generate attractive yield,” Seif concluded. About Purpose Investments Purpose Investments Inc. is an asset management company with approximately $14 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, and offers a range of outcome-focused products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

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FUTURE OF HEALTHCARE

Virtua Health and Medtronic Share Plans to Reimagine Traditional Health Care Models

Virtua Health | December 16, 2021

Virtua Health and Medtronic plc announce a five-year partnership focused on improving delivery of quality care for residents of South Jersey, particularly those who reside in underserved communities or face systemic barriers to care. Medtronic LABS, an independent impact-focused organization funded by Medtronic plc, will simultaneously launch a separate pilot collaboration with the Cherry Hill Free Clinic and Virtua to address care and food access for people with chronic conditions – the first U.S.-based initiative for Medtronic LABS. "I truly believe technology is the path forward to improving human welfare," said Geoff Martha, Chairman and CEO of Medtronic. "This new partnership and collaboration demonstrate the opportunity to use technology to tackle health challenges in a localized, grassroots way. By taking a data-informed approach, we can help improve access and outcomes for patients with chronic conditions in southern New Jersey." "This partnership presents a significant opportunity to accelerate health equity and better outcomes for individuals and families in our community. Together, we will apply the latest research and innovation to the fundamentals of community-based care, allowing us to identify and empower those who need support to achieve the best-possible quality of life." Dennis W. Pullin, FACHE, president and CEO of Virtua Health The scope of the partnership includes the following projects and will expand over time. Heart Health: Medtronic plc and Virtua Health will develop a program to optimize care for hospital patients diagnosed with heart failure, with a focus on slowing the progression of the disease and enhancing the experience of both patient and provider. By employing Medtronic's data-driven, decision-support tools, Virtua clinicians will provide ongoing resources post-hospitalization, minimizing the likelihood of readmission and creating sustainable, enriching solutions for the individual. Outpatient Care Continuity: The partnership will also optimize patient care in high-value outpatient settings, including ambulatory surgery centers. Additionally, Medtronic plc and Virtua will expand Virtua's hospital at home program, which is due to launch officially in early 2022 and aims to reduce the resource-strain on the health system while allowing eligible patients to heal from the comfort of home. Medtronic LABS' collaboration intends to address population health in the following ways: Community Health and the Cherry Hill Free Clinic: Community health workers and clinicians at the Cherry Hill Free Clinic will utilize Medtronic LABS' digital health platform, extending their reach through mobile tools and point-of-care diagnostics. Those identified as having (or being at risk for) chronic illnesses, such as Type 2 diabetes or hypertension, will then connect to the Cherry Hill Free Clinic for follow-up care. Over time, the platform will become more sophisticated and specific as the data accumulates and reveals localized trends and challenges. Food Access: Medtronic LABS will also support Virtua's Eat Well food access programs, specifically the Food Farmacies located inside Virtua Mount Holly Hospital and the Virtua Health & Wellness Center – Camden. Medtronic LABS and Virtua will identify those at risk for food insecurity – due to financial circumstances or limited health literacy – and connect them to free food, nutrition education, and social-work services. "I am honored that Medtronic LABS and Virtua recognize the essential services we provide at the Cherry Hill Free Clinic, and that they are combining their resources and expertise toward enhancing continuity of care for existing and prospective patients," said Jubril Oyeyemi, MD, founder and chief medical officer of the Cherry Hill Free Clinic. "The CDC estimates that 20 percent of Camden County residents do not have health insurance. By creating pathways to care, we build healthier communities." "Medtronic LABS has trained more than 2,000 health workers and provided screenings to more than a million people worldwide. To date, we have focused our efforts on communities in Kenya, Ghana, India, and the Philippines, which is why we are thrilled to partner with Virtua Health on our first U.S.-based endeavor," said Ruchika Singhal, vice president of Medtronic LABS. "In time, this collaboration will create scalable, replicable improvements to the care-delivery model while advancing health and wellness on an individual level." About the Partners Medtronic: Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. Medtronic LABS is an independent, non-profit structure with multiple entities including an operating foundation, a social business, an in-country non-profit, and for-profit subsidiaries. Medtronic LABS is setting out to design the health system of the future: one that is equitable, tech-enabled, and patient-centered. To date, Medtronic LABS has screened more than 1M patients and improved clinical outcomes for over 35K patients in Kenya, Ghana, India, and the Philippines. Virtua Health is an integrated health care system and the trusted partner for personalized health care and wellness for communities in southern New Jersey. With more than 280 locations and 14,000 colleagues, Virtua provides high-quality care with more than two million annual encounters across the full range of community and tertiary health services – from preventive care to urgent care through specialty services in cancer, women's health, neuroscience, and orthopedics to complex minimally invasive cardiac surgery and organ transplantation. Performing more than 175,000 surgeries at its hospitals and network of ambulatory centers, Virtua is one of the largest providers of surgery in the state. As a not-for-profit leader, Virtua continues to improve social determinants in health and has distributed more than 160,000 pounds of fresh produce in underserved areas to address food insecurity. Virtua is advancing important partnerships into the future to help you be well, get well, and stay well. Cherry Hill Free Clinic (CHFC) is an independent 501(c)(3) with the mission of providing free primary care to the uninsured and under-insured. CHFC is supported by Virtua Health, which provides lab, radiology and, in some cases, specialty care to CHFC patients.

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Spotlight

Paramount to population health management success under risk-based contracts is strategic oversight of the rising risk-individuals with two or more unmanaged health conditions. One quarter of respondents to the 2016 Population Health Management survey by the Healthcare Intelligence Network zero in on their own rising risk populations.

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