Healthcare provider putting focus on quality care with opening of new center

Rew | June 14, 2019

Lee and Associates New Jersey represented St. Josephs Health in securing a long-term lease of a 60,000 s/f  four-story medical office building at 169 Minnisink Road in Totowa, New Jersey.A team of brokers that included Brian Lynch, Peter Rasmusson, Jason Lynch and Joe Tormen exclusively represented St. Josephs Health in the transaction.St. Josephs will transform the site into a state-of-the-art, high quality medical facility and deliver the level of care for which the health system is known, commented Rasmusson.The center is slated to open in early 2021 and will serve as a primary and specialty care medical hub for patients.By creating an Ambulatory Care Center in the Totowa community, St. Josephs is expanding our services to increase access to high-quality health care, said Kevin J. Slavin, President  CEO of St. Josephs Health.

Spotlight

Over the past 18 years, our healthcare financing and delivery systems have quietly evolved in ways that seem to be producing consistent, long-term reductions in expenditure growth rates. But for a typical family of four insured through an employer PPO plan, healthcare costs still stand at $28,166. Below is a look at current and historical healthcare costs and trends for this family.


Other News
MEDICAL DEVICES

MedTech Company STENTiT Raises €1.8 million in Seed Round

STENTiT | April 25, 2022

STENTiT, a medical device company bringing a novel class of regenerative endovascular implants for the treatment of cardiovascular diseases, has closed a €1.8 million seed investment round. The funding facilitates further pre-clinical development and batch production of a regenerative stent (see video) for peripheral indications. The investment was made by Dutch investors NextGen Ventures, Brabant Development Agency and the Ten Cate Investment Company. STENTiT is an emerging player in the field of regenerative medical devices, offering a breakthrough solution for cardiovascular interventions by developing first-of-its-kind endovascular implants with regenerative capacity. Using a catheter-based approach, these devices provide the ability to restore arteries without the need for an invasive surgical intervention. The aim is to ultimately restore the affected blood vessel from the inside out to provide a lifelong solution. As a first target indication, the company wants to improve the treatment of critical limb ischemia. This progressive form of peripheral artery disease affects almost 5 million people in the EU and the US in which the blood flow to the foot is severely being compromised. Unfortunately, current treatment options are ineffective, resulting in amputation within 6 months in 40% of these patients. With the regenerative stent, blood flow to the foot will be maintained by securing vascular patency using temporary mechanical support and improving long-term efficacy by inducing vascular repair, thereby preventing thousands of amputations each year. "We are excited to receive the support of these esteemed Dutch early-stage investors. This financing round validates our vision to bring a novel class of implants that can rebuild the affected blood vessels. We are looking forward taking the next steps getting our regenerative stents ready for clinical trials. With our first product, we aim to treat millions of patients suffering from peripheral artery diseases, and save their limbs from amputation." Bart Sanders, CEO of STENTiT About STENTiT STENTiT is a medical device spin-off company from the Dutch Eindhoven University of Technology, focusing on the development of regenerative endovascular implants. These bioresorbable devices trigger a natural healing response by the circulating blood cells, in which the implant is being replaced by new vascular tissue to restore the artery from the inside-out. Since the establishment of the company, STENTiT has received broad international recognition and awards for its high-potential approach, covering world leading stages. As the company is currently going through the next translational phases, STENTiT is on its way to fulfill its ambition to become the new standard in endovascular treatment, providing a life-changing solution for millions of cardiovascular patients around the world.

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FUTURE OF HEALTHCARE

Trinity Health to Acquire CommonSpirit Health's Share of MercyOne Health System Become Sole Parent

Trinity Health | April 20, 2022

Trinity Health and CommonSpirit Health announced they have signed an agreement for Trinity Health to acquire all facilities and assets of MercyOne, a regional health system based in Iowa. Since 1998, MercyOne has operated under a joint operating agreement between not-for-profit Catholic health care organizations Trinity Health and Catholic Health Initiatives, which is now CommonSpirit. MercyOne is a leading health system in Iowa and serves more than 3.3 million patients each year. The system includes 16 medical centers, 27 affiliate organizations and more than 420 care sites offering a range of health and wellness services, including provider services and urgent care, and more than 20,000 colleagues including 2,000 of the state's most talented doctors and providers. "True to our shared Catholic mission, our goal is to provide high-quality, compassionate care with the best patient/member experience possible. We will accomplish that goal through a holistic approach, with a range of health services and technologies that are fully connected and coordinated. This agreement creates a fully integrated MercyOne to care for more people in a unified way." Mike Slubowski, president and chief executive officer at Trinity Health After months of analysis and due diligence, Trinity Health and CommonSpirit determined a sole parent is the best path forward for MercyOne and for the communities it serves. Trinity Health, a national health system spanning 25 states, will bring unified strategies and operations to MercyOne's care sites, including one set of system services. As an example, MercyOne will transition to Trinity Health's common platforms, including a single electronic health record (EHR), ultimately allowing patients to easily manage their care across all MercyOne services and facilities. The result is a more convenient and consistent care experience for MercyOne's communities. "After two decades of successful collaboration, we are immensely proud of our partnership with Trinity Health and our efforts to advance health care statewide," said Marvin O'Quinn, president and chief operating officer at CommonSpirit Health. "While the current structure has been instrumental in growing our health care services in Iowa, we believe this decision is ultimately what is best for our patients, colleagues, and our communities." "We strongly believe this transition to become a full member of the Trinity Health family will result in a stronger, more cohesive health system better able to offer a convenient and personalized circle of care for all we serve," said Bob Ritz, president and chief executive officer at MercyOne. "We are delighted to have the agreement in place as we plan for the future of our mission. We are grateful to CommonSpirit for more than 20 years of partnership." Trinity Health and CommonSpirit will now plan for integration, complete regulatory filings, and take other steps necessary to finalize the transaction, which is expected to be completed summer 2022. This process will be seamless for the communities MercyOne serves, and patients can continue to expect the same compassionate care they have always received. About Trinity Health Trinity Health is one of the largest not-for-profit, Catholic health care systems in the nation. It is a family of 115,000 colleagues and nearly 26,000 physicians and clinicians caring for diverse communities across 25 states. Nationally recognized for care and experience, Trinity Health's network of care includes 88 hospitals, 131 continuing care locations, the second largest PACE program in the country, 125 urgent care locations, and many other health and well-being services. Based in Livonia, Michigan, its annual operating revenue is $20.2 billion with $1.2 billion returned to its communities in the form of charity care and other community benefit programs. For more information, visit www.trinity-health.org or follow us on LinkedIn, Facebook or Twitter. About CommonSpirit Health CommonSpirit Health is a nonprofit, Catholic health system dedicated to advancing health for all people. It was created in February 2019 by Catholic Health Initiatives and Dignity Health. With its national office in Chicago and a team of over 150,000 employees and 25,000 physicians and advanced practice clinicians, CommonSpirit operates 140 hospitals and more than 1,500 care sites across 21 states. In FY 2021, CommonSpirit had revenues of $33.3 billion and provided $5.1 billion in charity care, community benefit, and unreimbursed government programs. Learn more at www.commonspirit.org. About MercyOne MercyOne is a connected system of health care facilities and services dedicated to helping people and communities live their best life. MercyOne's care providers and staff make health the highest priority. The system's clinics, medical centers, hospitals and affiliates are located throughout the state of Iowa and beyond. Headquartered in central Iowa, MercyOne was founded in 1998 through a collaboration between Catholic Health Initiatives, now CommonSpirit Health, and Trinity Health - two of the country's foremost, not-for-profit Catholic health organizations.

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HEALTH TECHNOLOGY

Microbot Medical Announces Strategic Collaboration with Stryker Corporation to Develop the LIBERTY® Robotic System for Neurovascular Applications

Microbot Medical | December 28, 2021

Microbot Medical Inc.announced that it has entered into a strategic collaboration agreement with Stryker, a leading global medical technology company. The company will collaborate with Stryker’s Neurovascular division to integrate its neurovascular instruments with Microbot’s LIBERTY Robotic System to develop the world’s first dedicated robotic procedural kits for use in certain neurovascular procedures. “We have already ensured that the LIBERTY Robotic System has a strong and sustainable competitive advantage, and the collaboration with Stryker will allow us to further expand in the neurovascular space. I believe the similarities in our innovation culture, as well as our complementary core capabilities, will allow us to establish a truly differentiated solution that will benefit all stakeholders and accelerate our goal of changing the way robotic surgery is viewed and adopted.” Harel Gadot, Chairman, CEO and President of Microbot Medical The company will continue to develop the LIBERTY Robotic System independently for use in peripheral and coronary procedures. The animal feasibility studies to date support the company’s assertion that it will potentially allow physicians to safely and efficiently conduct remote catheter-based vascular procedures, and reduce the risk for radiation exposure, physical strain on the user and Hospital Acquired Infections (HAIs), without the need for cumbersome and expensive capital equipment. About Microbot Medical Microbot Medical Inc.is a pre-clinical medical device company that specializes in transformational micro-robotic technologies, focused primarily on both natural and artificial lumens within the human body. Microbot’s current proprietary technological platforms provide the foundation for the development of a Multi Generation Pipeline Portfolio (MGPP). Microbot Medical was founded in 2010 by Harel Gadot, Prof. Moshe Shoham, and Yossi Bornstein with the goals of improving clinical outcomes for patients and increasing accessibility through the use of micro-robotic technologies.

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FUTURE OF HEALTHCARE

UMC Health System Partners with Omnicell for Advanced Services Solutions to Streamline Medication Management & Enhance Clinical Outcomes

Omnicell | February 15, 2022

Omnicell, Inc., a leading provider of medication management and adherence tools for health systems and pharmacies, today announced that UMC Health System (“UMC”) in Lubbock, Texas, has selected Omnicell’s comprehensive portfolio of Advanced Services solutions to support key pharmacy initiatives, including acute care, outpatient, retail, and 340B program strategies. UMC has signed a 10-year sole source agreement for Omnicell’s cloud-based portfolio of solutions, including central pharmacy automation and point of care dispensing systems. The partnership is also expected to support UMC’s goals of expanding community pharmacy services through opportunities with Omnicell’s 340B services and EnlivenHealth’s patient engagement solutions, helping UMC to drive operational efficiency across its continuum of care. More importantly, these solutions will empower pharmacy staff and clinicians to focus on higher value tasks that support patient safety. As a public hospital with a 40-year tenure supporting the Lubbock community, UMC has experienced an increase in demand for its services. According to U.S. Census data, Texas has one of the highest uninsured population rates – at 18.4 percent in 2019, nearly double the national average. Programs like the federal 340B Drug Pricing Program and technology-enabled patient engagement solutions are intended to help improve health outcomes for these underserved communities. “At UMC, our top priority is patient safety and ensuring healthy outcomes for our community. Partnering with Omnicell, we are building an advanced pharmacy technology strategy that aligns with our vision to streamline and advance the pharmacy and nursing practice across our system. Most importantly, we are laying a technology foundation that will enable the best patient care.” John Lowe, vice president of Support Services at UMC Health System UMC has embraced the industry-defined vision of the Autonomous Pharmacy, a roadmap designed to develop a zero-error, fully automated medication management infrastructure. Through automation, intelligence, and expert services, the Autonomous Pharmacy is expected to drive performance and outcomes, and empower clinicians to shift their focus from manual administrative functions to patient support needs. “As medication management becomes more complex, we believe health systems need end-to-end, cloud-based solutions that will allow them to work smarter, while supporting safe, efficient pharmacy care,” said Scott Seidelmann, executive vice president and chief commercial officer at Omnicell. “We’re confident that Omnicell’s partnership with UMC will provide comprehensive solutions that bridge acute and ambulatory care to help enhance performance and that are designed to deliver the highest levels of patient safety across the health system.” About UMC UMC Health System is a national award-winning health system comprised of over 4,600 team members and more than 30 care locations. We are proud to partner with Texas Tech University Health Sciences Center to provide the best care to West Texas and Eastern New Mexico. Whether you are managing a chronic condition, dealing with an unexpected illness, or simply working to stay healthy, we are passionate about getting you well and helping you stay that way. At UMC, Our Passion is You. About Omnicell Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the vision of the autonomous pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings. Healthcare facilities worldwide use Omnicell automation and analytics solutions to help increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. Institutional and retail pharmacies across North America and the United Kingdom leverage Omnicell's innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions.

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Spotlight

Over the past 18 years, our healthcare financing and delivery systems have quietly evolved in ways that seem to be producing consistent, long-term reductions in expenditure growth rates. But for a typical family of four insured through an employer PPO plan, healthcare costs still stand at $28,166. Below is a look at current and historical healthcare costs and trends for this family.

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