Government payment policies tied to hospital performance fail to improve patient safety

Healthcare Finance | February 07, 2019

Value-based incentive programs, or VBIPs, aim to drive improvements in quality and reduce costs by linking financial incentives or penalties to hospital performance. But a new study has found no evidence these programs have any measurable association with changes in catheter-associated urinary tract infection rates in U.S. hospitals. It touts itself as the first study to look at how these federal payment programs impact healthcare-associated infections. In 2013, the Centers for Medicare and Medicaid Services implemented VBIPs to financially reward or penalize hospitals based on quality metrics. These programs targeted hospitals' rates of certain healthcare-associated infections that were deemed preventable.Previous studies demonstrated minimal impact of these payment programs on measures of hospital processes, patient experience and mortality. But their impact on patient safety metrics, including healthcare-associated infection rates, had been unknown.

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HEALTH TECHNOLOGY

Microba Life Sciences Signs Partnership With Nib-Backed Midnight Health

Microba Life Sciences Limited | May 26, 2022

Microba Life Sciences Limited has signed a strategic partnership agreement with nib Holdings Limited backed digital healthcare company Midnight Health, to deliver a personalised health service to the Australian consumer market. Under this Agreement, Midnight Health will promote, market and sell a world-first subscription-based service, known as Vidality, with its network of pharmacists to formulate personalised supplements for each customer based on their microbiome test results, leveraging the recommendations from Microba’s Analysis Platform. This personalised, pharmacy-integrated service model – delivered with trained, registered pharmacists – will bring a level of science and personalisation to an industry which commonly provides customers with one-size-fits-all solutions. Midnight Health CEO, Nic Blair said: “We are experiencing strong demand for innovative online healthcare solutions aligned to an individual needs. We already have more than 13,000 subscribers across our existing brands with strong month-on-month growth. Many of our customers are looking for gut health solutions and we are proud to bring the Vidality product to our customers in partnership with Microba”. The Agreement was signed, for an initial period of 3 years, after a successful pilot which tested the service model and product offering. It further demonstrates Microba’s scalable technology and ability to deliver evidence-based gut health solutions together with distribution partners. “Consumers are seeking personalised, evidence-based solutions to support their gut health. Together with Midnight Health, we are excited to bring the Vidality product to consumers, a truly personalised solution powered by our technology”. Microba CEO, Dr Luke Reid This delivers on an undertaking in the Company’s Prospectus to enter into an Australian partnership with a fast growth innovative consumer healthcare company. This announcement has been authorised for release by the Board. About Midnight Health Midnight Health delivers innovative online healthcare solutions through a patient-led digital platform. With the primary goal of democratising healthcare and enabling individuals to take control of their own healthcare, Midnight Health integrate telehealth technology, doctors, pharmacy network and other partners to provide a seamless patient experience for fast, convenient and discreet access to treatments, prescriptions and education through niche digital brand platforms. About Microba Life Sciences Limited Microba Life Sciences is a precision microbiome company driven to improve human health. With world-leading technology for measuring the human gut microbiome, Microba is driving the discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services globally to researchers, clinicians, and consumers. Through partnerships with leading organisations, Microba is powering the discovery of new relationships between the microbiome, health and disease for the development of new health solutions.

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FUTURE OF HEALTHCARE

SandboxAQ and Mount Sinai Health System Collaborate on Data Protection

Sandbox AQ | March 24, 2022

Sandbox AQ, an enterprise SaaS company leveraging quantum tech and AI, announced a collaboration with Mount Sinai Health System to launch Post-Quantum Cryptography solutions, a broad security technology solution to protect patient data against current and future cybersecurity threats. Sandbox has developed SaaS-based enterprise modules that incorporate the latest encryption protocol standards recently ratified by NIST (National Institute of Standards and Technology). Through Sandbox AQ, Mount Sinai Health System will incorporate PQC protocols into its network to provide increased security for millions of customers and their sensitive data. "Our collaboration with Sandbox AQ propels our security and technology strategies forward, enabling us to deliver advanced, secure cutting-edge products to our patients. Protecting patient data against cyber threats is incredibly important to us." Kristin Myers, Executive Vice President and Chief Information Officer at Mount Sinai Health System and Dean for Information Technology at Icahn School of Medicine at Mount Sinai "Quantum technology will quickly render today's RSA-based encryption obsolete, which is why it's imperative that we protect the world's sensitive data now against the next generation of cyberattacks," said Jack D. Hidary, CEO of Sandbox AQ, which officially launched today. "Mount Sinai is one of the first healthcare systems planning to implement PQC protocols into its health network to protect its customers and transform its business. We look forward to collaborating with them on this project." About SandboxAQ Sandbox AQ is an enterprise SaaS company delivering solutions at the nexus of quantum tech and AI. Based in Palo Alto, the inspiration for Sandbox AQ and some of the team originated at Alphabet Inc. in 2016. Sandbox AQ launched as an independent, venture-backed entity in 2022. About Mount Sinai Health System The Mount Sinai Health System is New York City's largest academic medical system, encompassing eight hospitals, a leading medical school, and a vast network of ambulatory practices throughout the greater New York region. We advance medicine and health through unrivaled education and translational research and discovery to deliver care that is the safest, highest-quality, most accessible and equitable, and the best value of any health system in the nation. The Health System includes approximately 7,300 primary and specialty care physicians; 13 free-standing joint-venture centers; more than 410 ambulatory practices throughout the five boroughs of New York City, Westchester, and Long Island; and more than 30 affiliated community health centers. The Mount Sinai Hospital is ranked in U.S. News & World Report's "Honor Roll" of the top 20 U.S. hospitals and among the top in the nation by specialty: No. 1 in Geriatrics and top 20 in Cardiology/Heart Surgery, Diabetes/Endocrinology, Gastroenterology/GI Surgery, Neurology/Neurosurgery, Orthopedics, Pulmonology/Lung Surgery, Urology, and Rehabilitation. Mount Sinai Kravis Children's Hospital is ranked in U.S. News & World Report's "Best Children's Hospitals" among the country's best in four out of 10 pediatric specialties. New York Eye and Ear Infirmary of Mount Sinai is ranked among the Top 20 nationally for ophthalmology. The Icahn School of Medicine at Mount Sinai is one of three medical schools that have earned distinction by multiple indicators: ranked in the top 20 by U.S. News & World Report's "Best Medical Schools," aligned with a U.S. News & World Report "Honor Roll" Hospital, and No. 14 in the nation for National Institutes of Health funding. Newsweek's "The World's Best Smart Hospitals" ranks The Mount Sinai Hospital as No. 1 in New York and top five globally, and Mount Sinai Morningside as top 20 globally, and "The World's Best Specialized Hospitals" ranks Mount Sinai Heart as No. 1 in New York and No. 4 globally and the Division of Gastroenterology as No. 3 globally, and the Division of Pulmonary Medicine as No. 6 globally.

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HEALTH TECHNOLOGY

Dura Software Acquires Leading Cloud-Based Telehealth Software Platform SecureVideo

Dura Software | January 20, 2022

Dura Software, specialists in acquiring and operating hyperniche software products, announced it has acquired SecureVideo, a cloud-based software company with extensive experience developing a secure SaaS telehealth platform for the healthcare industry. Expanding the Dura portfolio, SecureVideo is the ninth acquisition for Dura Software and furthers the Dura mission of acquiring niche software companies that serve critical business needs. "We are excited to welcome SecureVideo into the Dura portfolio of companies. Jonathan Taylor and his team have created a highly scalable SaaS solution that enables a loyal group of physicians and practitioners to serve their patients safely and effectively every day. SecureVideo has a seasoned team that understands the healthcare market and how to best leverage technology to make the lives of healthcare professionals and patients easier. " Paul Salisbury, CEO of Dura Software Serving the healthcare industry, SecureVideo produces a HIPAA-compliant, cloud-based telehealth platform designed to aid clients with quickly mastering their telehealth workflow. During 2020, SecureVideo's usage grew significantly, expanding to 30 times its typical usage, prompting the company to quickly scale its operations while it successfully met the growing needs of new and existing customers. As a trusted partner in the healthcare space, SecureVideo provides a flexible, reliable telehealth technology solution to behavioral health organizations, medical groups, hospitals, physician offices, specialty healthcare organizations and other medical organizations. The CEO of SecureVideo, Jonathan Taylor, will lead the company as it transitions into the Dura Software portfolio of companies. "The acquisition of SecureVideo by Dura Software will provide the resources and expertise we need to scale our product capabilities, customer support, and market reach well beyond what would have otherwise been possible," says Taylor. "With Dura's assistance, the company will be able to rapidly add important features and functionality to our world-class product, amplify our customer-first culture, and expand our customer footprint, all while maintaining the high standard of excellence we have always worked to achieve." Based in Alameda, California, SecureVideo will move its headquarters to San Antonio, while all employees will remain in their current locations. About Dura Software Dura Software is an expert in acquiring, owning and operating "Hyper-Niche" software businesses. Over the coming years, Dura will continue to expand by acquiring additional great businesses and by generating sustained profitable growth from business operations. Dura Software is based in downtown San Antonio and operates a portfolio of companies that includes 6Connex, DB Technology, Lane, DVSAnalytics, Eventory, Moki, NordicIT and Vertex Systems.

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DIGITAL HEALTHCARE

DECISIO Reveals New Leadership and Closes Series B Funding Round

DECISIO | March 28, 2022

DECISIO has appointed Major General Elder Granger, M.D. to the company's Board of Directors. Dr. Granger is currently President and CEO of The 5Ps, LLC, a healthcare, education, and leadership consulting organization. Prior to his retirement from the US Army, Dr. Granger served as the Deputy Director of TRICARE Management Activity, a Department of Defense (DoD) field activity responsible for operating the Military Health System as a fully integrated healthcare system within DoD. He was responsible for supervising and administering TRICARE programs, providing oversight of high-quality, accessible health care for 9.2 million beneficiaries worldwide. "Dr. Granger joining our board provides enormous value and validation for our company moving forward. His expertise and leadership in the healthcare industry is a welcome addition to our esteemed group of Board of Directors''. Dr. John Holcomb, Co-CEO and Cofounder of DECISIO In addition to his accomplished military career, Dr. Granger is board certified by the American Board of Internal Medicine and the Board of Hematology and Oncology. He is a certified physician executive by the Certifying Commission in Medical Management, the American College of Healthcare Executives, and certified in Medical Quality by the American Board of Medical Quality. Dr. Granger also serves on the Board of Directors for Cerner Corporation, Cigna Corporation and DLH Holdings Corporation and is a member of the Board of Trustees at Rosalind Franklin University. DECISIO is also announcing the official closure of its $18.5 million Series B funding round in February 2022, bringing the total funds raised to date at $31.5 million. The funds from this round will be used for commercialization, continued product development, and operations growth. About DECISIO® DECISIO is a Houston-based digital health company with a customizable clinical decision support platform designed to aggregate and prioritize real-time data, from any device, and present it visually in one place. The flagship product, InsightIQ, uses continuous smart bedside monitoring which enables clinical teams to efficiently identify patients at risk and comply with established clinical guidelines. InsightIQ improves patient outcomes and throughput, optimizes workflow, increases collaboration, thus reducing length of stay and "click" fatigue. Our solutions, including actionable analytics, that can be scaled across an entire health system or used in a single care area. For more information, visit www.decisiohealth.com.

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Planning to give birth at Peter Lougheed Hospital? Watch this helpful orientation before you go into labour to learn about parking, where to go in the hospital, and see where you will be birthing and staying after giving birth.

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