Five Healthcare Industry Changes to Watch in 2020

Managed Healthcare Executive | February 11, 2020

Industry experts expect significant changes to shake up the healthcare landscape in the next few years, which will affect both health insurers and providers. Many are the result of a shift toward value-based care, a move toward decreased care in hospital settings, technological advances, and other forces. Here’s a look at what can payers and providers can expect to occur, why each change is occurring, and how payers and providers can prepare for each change: Healthcare delivery will continue to move from inpatient to outpatient facilities. “More surgeries and diagnostic procedures that historically have required an inpatient hospital stay can now be performed more safely and efficiently in an outpatient setting,” says Stephen A. Timoni, JD, an attorney and partner at the law firm Lindabury, McCormick, Estabrook & Cooper, in Westfield, New Jersey, who represents healthcare providers in areas of reimbursement and managed care contracting. A growing volume of outpatient care will be provided in ambulatory surgery centers, primary care clinics, retail clinics, urgent care centers, nurse managed health centers, imaging facilities, emergency departments, retail clinics, and patients’ homes.

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HEALTH TECHNOLOGY

HONEYWELL AND NARAYANA HEALTH PARTNER TO EXPLORE CO-CREATION OF HEALTHCARE TECHNOLOGIES

Honeywell | May 27, 2022

Honeywell announced the signing of a non-binding memorandum of understanding (MoU) with Narayana Hrudayalaya Limited to identify, assess and collaborate on opportunities for the latter's digital transformation journey. This will enable Narayana Health to offer technology-driven, affordable and accessible healthcare for all. The MoU is subject to definitive agreements to be executed between Honeywell and Narayana Health. "These are times of great promise and even greater opportunities in healthcare innovation. At Honeywell, we recognize this and have pivoted towards the development of technologies that will shape the future of healthcare delivery. The MoU with Narayana Health – one of India's foremost healthcare service providers – offers us an opportunity to create a strategic technology development roadmap that will eventually transform India's healthcare industry," said Suresh Venkatarayalu, Chief Technology Officer, Honeywell. "Sensors and digital technology will disrupt health care delivery. Narayana Healthcare is delighted to work with Honeywell to develop digital technologies for making health care safer, more accessible, and more affordable," said Dr. Devi Prasad Shetty, Chairman and Executive Director, Narayana Healthcare. Honeywell's Advanced Sensing Technologies (AST) healthcare business builds on the company's global leadership in sensors to offer devices and software for hospitals, clinics and elderly care facilities to improve communication, collaboration and coordination of clinical care. "The pandemic made it abundantly clear that healthcare organizations need technology that can be seamlessly integrated into existing systems and processes to streamline error prone tasks, enhance patient experience, and improve organizational agility," said Robert Robinson, Vice President and General Manager, Advanced Sensing Technologies Healthcare, Honeywell. Based on the terms of the MoU, Honeywell and Narayana Health will work towards co-innovation and introduction of new products, establish technology development centers, co-create joint capabilities in technology development and research, and undertake the development of fire safety codecs that ensure an end-to-end life safety system to make hospitals safer. As a technology partner, Honeywell will also help enhance and optimize Narayana Health's digital processes and offer training to its employees. The healthcare industry is continuously evolving to keep up with increasing regulatory pressures, while maintaining an environment where patients and staff feel safe. COVID-19 highlighted the need for bringing efficiencies in healthcare delivery to enable fewer personnel to do more onsite. The growth in telemedicine also opened newer avenues for hospitals to manage patient care. Healthcare providers often struggle with developing the right approach to stay ahead of these changes. To help meet some of these challenges, last year Honeywell launched its Real-Time Health Monitoring System (RTHMS). This is a smart edge-to-cloud communication platform for remote and real-time patient monitoring that acts as a bridge between caregiver and patient. This offering integrates hardware and software to improve care delivery, enhance healthcare worker productivity, and enable process efficiency. By digitizing and automating critical tasks, RTHMS can reduce hospital administrative tasks by 35%.1 "Narayana Healthcare has made remarkable progress in using technology to improve clinical outcomes and increase healthcare delivery efficiency. Honeywell's sensor-based applications will complement our efforts in real-time patient monitoring and fire safety, raising the bar for others to meet," Dr. Emmanuel Rupert, Managing Director and Group Chief Executive Officer, Narayana Hrudayalaya Limited Honeywell has a robust portfolio of healthcare technologies – from a patient's first visit, to diagnosis, and returning home from care, Honeywell has the technologies to help healthcare providers increase productivity, efficiency, and shape the future of their organizations. About Honeywell Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

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HEALTH TECHNOLOGY

Tebra Secures More Than $72 Million at Over $1 Billion Valuation to Expand Digital Healthcare Technology Platform

Tebra | July 08, 2022

Tebra, the digital backbone for independent healthcare practices, announced that it has closed more than $72 million in funding at a valuation greater than $1 billion. Golub Capital led the investment which includes both growth equity and debt financing. Late last year, Kareo and PatientPop, cloud-based leaders in clinical, financial, and practice growth technology, joined forces to form Tebra to support the connected independent practice of the future and modernize patient care. This capital infusion will accelerate Tebra’s merger plans including expanding market share, developing and launching the combined product line and advancing the new branding for the company. Tebra supports over 100,000 providers who are delivering care to more than 90 million patients in the U.S. A New Era of Healthcare Consumers expect digital access, simplicity and convenience in all aspects of their lives. You can quickly research and order a meal online, hail a ride, and buy a car from your smartphone. Meanwhile, healthcare has been left behind in a sea of complexity and fractured solutions. Tebra is simplifying and modernizing this experience through a platform of tools built for the new era of healthcare. The platform connects patients to the best providers in seconds and delivers a modern, digital-first patient experience. Tebra is the Digital Backbone for the Connected Healthcare Practice Tebra provides independent healthcare practices with a complete operating system for practice success. Built through the combination of Kareo and PatientPop, the offering includes modern websites, messaging and scheduling, telehealth, EHR, care delivery, practice management, billing, payments, and analytics. Since the companies merged in late 2021, the company has successfully built and launched a two-way product integration that allows both platforms to share scheduling information and physician availability. The integrated solution also reviews appointment information and sends out surveys for better reputation management. Over 800 providers now use the combined operating system, and the company plans to grow significantly both into their existing base and the healthcare industry at large. “With this new investment from Golub Capital, we’ll be able to accelerate Tebra’s mission to unlock better healthcare by helping independent practices bring modernized care to patients everywhere. Simultaneously, we will broaden our market reach and launch new solutions, helping an even larger number of physicians with digital tools and support to attract new patients, get paid quicker, and operate their practice more efficiently.” Dan Rodrigues, Co-Founder and CEO of Tebra From practice growth technology to clinical and financial software, Tebra’s complete operating system is structured to modernize every step of the patient journey and support the connected practice of the future. Headquartered in Southern California, the company currently has over 1,000 employees. Golub Capital’s Late Stage Lending team was administrative agent and led the investment. Golub Capital also supported the 2021 merger with $65 million in growth funding, bringing its total commitment in the last year to more than $137 million. “We are delighted to be a long-standing financing partner to Tebra, supporting them through multiple growth phases, add-on acquisitions and new product development since 2017,” said Peter Fair, Managing Director at Golub Capital’s Late Stage Lending team. “Our mission is the success of our clients and being able to offer flexible solutions that meet the changing goals of their business.” Golub Capital is one of Tebra’s top-tier institutional investors, which also includes CommonFund, HLM Venture Partners, OpenView Venture Partners, StepStone Group, Stripes Group, Montreux Equity Partners, Toba Capital, Transformation Capital and Vivo Capital. About Tebra In 2021, with a combined mission to unlock better healthcare, Kareo and PatientPop joined forces to form Tebra — the operating system for the connected practice of the future. With an all-in-one, purpose-built platform to drive practice success and modernize every step of the patient journey, Tebra provides digital tools and support to attract new patients, deliver modern care, get paid quickly, and operate efficiently. Tebra’s all-in-one platform includes a fully certified Electronic Health Record (EHR), scheduling, insurance billing, patient payments, telehealth and more. About Golub Capital Late Stage Lending Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. The firm’s Late Stage Lending group provides flexible growth capital to venture-backed, late stage SaaS companies. Our custom financing solutions are designed to help proven SaaS businesses accelerate sales growth, drive new product development, pursue strategic acquisitions and provide shareholder liquidity. As of April 1, 2022, Golub Capital had over 620 employees and over $50 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London.

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HEALTH TECHNOLOGY

Health Care Software Provider GoMeyra Announces Partnership with Visit Healthcare

GoMeyra | July 20, 2022

GoMeyra, a cloud software company dedicated to providing innovative, real-time software for the health care industry, announces partnership with Visit Healthcare, a nationwide turnkey mobile medical provider. GoMeyra’s laboratory information management system (LIMS) will now power the health care company’s onsite lab diagnostic testing, immunizations and other medical solutions for enterprise-level clients. “Our need for a reliable technology partner has increased tremendously in the past few years, and the portals we have been using have limited flexibility, especially as we move into mobile medical services beyond COVID. GoMeyra has already bolstered our mobile capabilities with its versatile technology that has the ability to customize to our clients’ changing needs. Their team is quick to respond and the reporting process is simple. We also work with many of the same clients, so the transition to a new system has been easy. They are a great match for us” Visit Healthcare CEO, Olympia Bliss GoMeyra’s Laboratory Information Management Solution is a revolutionary, cloud-based software platform solution that empowers labs, health care facilities and medical practices to achieve unprecedented processing times for COVID-19 RT-PCR, rapid PCR, antigen, antibody and serology testing while automating procedures and managing samples faster and more accurately. New testing panels will be added in the very near future. “Visit Healthcare is growing fast, and like many growing companies, they need technology to be more agile and evolve with their business. Many companies, when they start out, don’t realize how important this flexibility is until they outgrow their current system. We offer medical practitioners a painless transition and peace of mind so they can focus on operations and not worry about their technology needs,” added GoMeyra Founder and Chief Executive Officer, Jaswant S. Tony. Visit Healthcare will also have access to GoVirtual Clinic, GoMeyra’s newly launched telehealth platform, which is fully integrated with GoMeyra LIMS. GoVirtual Clinic is a next-generation platform that includes a suite of solutions for medical professionals to conduct virtual patient appointments while comprehensively managing patient care and related electronic health records. The first phase of the platform features ways to seamlessly schedule and manage virtual testing appointments, order test kits, monitor online waiting rooms, conduct virtual appointments, and share test results with patients in real-time. For product demonstrations, contact info@GoMeyra.com or call (844) 203-3960. About GoMeyra GoMeyra is a trusted technology partner providing innovative, real-time software solutions that simplifies processes and delivers unparalleled customer service for the health care industry. GoMeyra’s premiere product, GoMeyra LIMS, is an automated, customizable laboratory information management system that improves workflow efficiencies, enabling laboratories, medical providers, employers and enterprise organizations to process lab tests and deliver patient results with unprecedented speed. GoMeyra Network, a unique built-in feature, allows independent labs across the country to collaborate and compete with larger diagnostic providers. About Visit Healthcare Visit Healthcare, a nationwide turnkey mobile medical provider, works with states, counties, government agencies, schools, and private industry on rapid response healthcare solutions. With a background in emergency response, Visit Healthcare has a proven ability to mobilize health care workers across the country in a very short period of time and currently operates testing and/or vaccination services in more than 26 states. With healthcare professionals and numerous CLIA-certified high-complexity laboratories at the ready, Visit Healthcare plays an active role in additional health care services including flu​ clinics, telehealth, and molecular testing beyond COVID-19.

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FUTURE OF HEALTHCARE

Virta Health Highlights Lasting, Transformative Health Improvements In 5-Year Diabetes Reversal Study

Virta Health | June 07, 2022

Virta Health, the leader in type 2 diabetes reversal, revealed preliminary five-year results from its landmark clinical trial at the American Diabetes Association 82nd Scientific Sessions. Presenting four unique abstracts, Virta highlighted myriad, lasting health improvements for people with type 2 diabetes and prediabetes, including blood sugar control, clinically-significant weight loss, reduced inflammation, and improvements in other markers of cardiometabolic health. These transformative health outcomes coincided with medication reduction or elimination for many trial patients, including Jane Ann Dimitt. For over two decades, Jane Ann was prescribed increasing levels of medications as her blood sugar and weight continued to climb. By the time she joined Virta in 2015, her A1c had reached 11.4%; the next step was insulin. Through Virta’s treatment, Jane Ann lowered her blood sugar to 5.5% (below even the prediabetes threshold) and lost over 50 pounds, while drastically reducing her reliance on medications. She also saw improved mobility, decreased inflammation and neuropathy, and now has the energy to play with her grandchildren—all without needing the insulin doctors said was imminent. The outcomes of Jane Ann and Virta’s other trial patients contradict the belief that progression of diabetes—and a lifetime of increasing medications—is inevitable. One-fifth of Virta patients completing five years of treatment saw full remission. One-third of patients achieved A1c below 6.5% without any diabetes medications, or only requiring Metformin. Notably, inflammatory markers, triglycerides, and HDL cholesterol all improved significantly. These outcomes, in conjunction with previous research demonstrating improvements in cardiovascular disease risk factors, depression symptoms, sleep, and knee pain, establish the promise of Virta’s approach to impact a wide range of conditions amid America’s metabolic disease epidemic. In the U.S., costs are rising as patient outcomes continue to worsen, including surges in amputations, hyperglycemic events, and diabetes-related deaths during the COVID-19 pandemic. Meanwhile, getting patients to stick with an intervention remains a significant challenge in diabetes therapy. Rates of medication adherence—that is, whether patients take their medications as prescribed—fall as low as 34% over the first three years for those starting insulin. For the National Diabetes Prevention Program, considered the gold standard in lifestyle interventions, only 13% of patients were retained at one year. In contrast, in Virta’s trial nearly 50% of participants with type 2 diabetes were retained at five years. Of those who continued past year two, 72% remained for an additional three years to year five. For Kim Shepherd, who lost 55 pounds, eliminated 10 different medications, reversed her diabetes, and even saw her GERD (acid reflux) and plantar fasciitis disappear, the reasons to stick with the treatment are clear. “Diabetes runs in my family, and I know that this disease can rob you of your whole life; it can take your eyes, your feet, and your kidneys. I have 4 kids and 9 grandkids to keep up with. I’ve learned to love hiking and biking. Nothing is worth losing all of that and going back to how I was before.” Additional key outcomes demonstrating the success of Virta’s approach at five years include Sustained blood sugar control. Virta patients experienced persistent improvements in blood sugar on average, while requiring significantly fewer medications. Medication deprescription. Half of patients prescribed insulin at the start of the trial no longer needed it at five years. Across all diabetes drugs, prescriptions were reduced by nearly 50%. Weight loss. Average weight among Virta participants decreased by 7.6%, exceeding the 5% benchmark for clinically significant weight loss by more than 50%. Broad improvement in cardiometabolic health. In addition to improvements in triglycerides, HDL cholesterol, and markers of inflammation, patients even showed encouraging signs in reversing the progression of chronic kidney disease. “Virta’s patients are helping redefine what long-term success can look like in type 2 diabetes care. The patient outcomes set a new standard for real-world applications of diabetes treatment." Dr. Alan Moses, former Senior Vice President and Global Chief Medical Officer of Novo Nordisk, and Virta advisor Trial participants with prediabetes also saw meaningful improvements, with progression rates far below what has been demonstrated in other studies. Further, Virta patients sustained 6% weight loss over five years, exceeding the clinically-significant benchmark for diabetes prevention and far surpassing the 2% weight loss observed in the NIH Diabetes Prevention Program lifestyle intervention. The study is also notable for its longevity. Five-year published results are extremely rare in digital health, where most studies follow populations for no more than a year, and usually significantly less. For many Virta patients, the five-year clinical trial has facilitated a lasting lifestyle change, improving not only traditional markers of health but overall mood, quality of life, and outlook on the future. Says patient Denise Lamb, who has maintained diabetes reversal alongside a nearly 70 pound weight loss, “My journey has been phenomenal. The Virta program has not only helped me achieve healthy blood glucose, but also attain a far better weight, normal blood pressure, and better understanding of my body. Virta’s lifestyle changed my lifestyle!” About Virta Health Virta Health helps people reverse type 2 diabetes and other chronic conditions. Current approaches manage disease progression through increased medication use and infrequent doctor visits. Virta reverses type 2 diabetes through innovations in technology, nutrition science, and continuous remote care from physicians and behavioral experts. In clinical studies, 94% of patients reduce or eliminate insulin use, and weight-loss exceeds FDA benchmarks by nearly 150%. Virta works with the largest health plans, employers, and government organizations and puts 100% of its fees at risk based on clinical and financial outcomes.

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UPMC develops and delivers life changing medicine by working at the apex of healthcare and technology, translating science and research into accessible cures, and consistently working to accelerate the pace of innovation worldwide.

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