CareCloud, Inc | December 17, 2021
CareCloud, Inc., a leader in healthcare technology solutions for medical practices and health systems nationwide has released CareCloud Connector, a next-generation interface and data management engine, and the first product within its CareCloud Conductor suite. CareCloud Connector enables healthcare organizations with ready-to-use integrations that improve data management and deployment speed, while offering better interface visibility and control.
“We have been a leading healthcare IT innovator for almost two decades, providing solutions that improve financial, clinical, and patient outcomes, at scale, and a partner to a wide array of healthcare organizations. Today we are introducing our proprietary, turn-key integration technology platform to help healthcare ecosystem partners leverage the same tools we ourselves use to manage our business across hundreds of unique integrations spanning thousands of locations.”
Hadi Chaudhry, CEO and President, CareCloud
As the U.S. healthcare industry’s data exchange regulations continue to evolve and vendors prepare to comply with provisions in the Cures Act, legacy integration tools will hinder progress. CareCloud Connector provides a seamless, scalable, and centralized platform with APIs, allowing healthcare IT vendors, medical billing organizations, and digital health companies to overcome interoperability challenges and effectively manage data integration and transmission hurdles. Connector includes a library of industry-tested, ready-to-use integrations, interfaces, and customizable tools in a convenient SaaS offering.
"As one of the industry’s first true libraries of plug-and-play integration and customizable tools, CareCloud Connector transforms laborious developmental projects into simple and secure activations,” said Adeel Sarwar, Chief Technology Officer, CareCloud. “Connector makes data exchange and management simple and cost-effective for industry participants.”
"Healthcare organizations often struggle with managing hundreds of interface requests and data migration challenges. Couple this with the complexities of new regulatory requirements embedded in the Cures Act and you set the stage for a solution like Connector,” said David Botero, Director of Integrations, CareCloud. “Connector allows us to close interoperability gaps for industry participants. We are proud to be a leader in integration consolidation, empowering health organizations and service providers to comply with new interoperability requirements while saving money and resting easy, knowing that a leading publicly-traded healthcare IT vendor is taking care of the hard work for them."
CareCloud Connector is the first solution launching under CareCloud’s new technology suite, CareCloud Conductor. Conductor is a family of technologies designed to support interoperability, connectivity, and data transformation. CareCloud plans to unveil more products in the Conductor suite in 2022 with the launch of additional innovative solutions to support the growing prominence of health IT developers and investments in digital health.
CareCloudbrings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs.
Exela Technologies | January 12, 2022
Exela Technologies, Inc. (“Exela”)today announced that it continues to expand its relationship with a leading health insurance organization that spans almost two decades. This customer continues to accelerate deployment of Exela’s PCH Global platform to speed up their digital transformation and improve both the member and provider experience. The latest expansion is valued at $6.2 million of additional contract value revenue.
Exela continues to invest in expanding PCH Global’s capabilities to provide a cloud hosted solution with one of the best edit resolutions for healthcare claims. This extension of deployment marks another milestone in the value proposition of the PCH Global platform to digitally connect members, providers and insurance companies to enable clean claims, payment transparency and digital appeals. PCH Global’s cloud network also offers increased scalability, the highest uptime and best business continuity protections. PCH Global has robust data analytics which are continually improving as Exela processes more and more data. Additionally, PCH Global’s improved data analytics can be accessed via a self-service model.
“We are proud of our long standing partnership and privileged to be part of customer’s digital transformation journey. Adoption of our PCH Global platform continues to address healthcare industry’s goal to deliver most efficient, cost effective and best healthcare to the members.”
Suresh Yannamani, President of Exela
About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 17,500 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.
Nemaura Medical, Inc | January 14, 2022
Nemaura Medical, Inc.(“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announces the launch for employers and insurers of Miboko, a new metabolic health program using a non-invasive glucose sensor along with an AI mobile application. The Company’s goal is to achieve broad adoption of Miboko as a form of preventative medicine for a wide user base through these commercial channels and is aligned with the general trend in consumer digital healthcare.
“Introducing Miboko to the population at-large through employers and insurers will allow Nemaura to reach a much wider audience in much faster fashion than solely relying on a direct-to-consumer campaign, and in the Western world, these institutions are the most reliable gateway toward wider adoption of preventative health maintenance practices. Being aware of one’s metabolic health and how the body uniquely regulates sugar is key to one’s health. Patients, of course, want to be as informed as possible about their health, and employers and insurers are also aligned with patients in that regard, given the massive productivity losses and healthcare costs at stake on a larger scale across their employee and insured base, respectively. Miboko can help address this substantial market opportunity through our non-invasive, revolutionary approach to healthcare.”
Nemaura CEO Dr. Faz Chowdhury
Nemaura has also submitted a Premarket Approval (PMA) to the United States Food and Drug Administration (FDA) for approval of its glucose monitoring device as a Class 3 medical device. The Company’s PMA was the subject an on-site FDA bioresearch monitoring (BIMO) audit that generated a single Form 483 observation, for which the Company has committed to a full response this quarter. A follow-up BIMO audit of the clinical investigator site has also been scheduled for the current financial quarter.
Miboko has been in development for nearly two years and addresses a significant mass market opportunity that the Company believes could benefit roughly a third to half of the population by using a non-invasive glucose sensor to measure and monitor a user’s metabolic health score, which is based on glucose tolerance or insulin resistance. Those with prediabetes or obesity concerns -- or even those looking to maintain better health through more careful glucose control -- may benefit from such a metabolic health program. How one’s body metabolizes sugar is the main influencer of one’s appetite, weight, sleep quality, and energy and mood levels and even plays a critical factor in chronic diseases (beyond just diabetes), such as heart disease and dementia.
At the heart of the Miboko offering is Nemaura’s non-invasive glucose sensor that is designed to measure insulin resistance, reported as a metabolic health score, and priced to be highly affordable with the program running for an initial two-year period. The program also uses a mobile app to provide users with personalized information by tracking their metabolism. A user can find out how well their body responds to sugar through their metabolic health score — and how what they eat and what they do every day uniquely affects their metabolic health.
Along with the capability to follow metabolic health progress on the app, Miboko users receive weekly and monthly reports that show and explain their body’s unique metabolic health score and a breakdown of how each of their habits are impacting their overall health and wellbeing. Suggestions for small, manageable changes to daily routines, such as eating more or less of a certain kind of food or exercising at a different time of day to coincide with peak energy levels, provide Miboko users with personalized, usable data.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies.
Additionally, Nemaura has launched Miboko, a new metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being.
The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.
FUTURE OF HEALTHCARE
Ensemble Health Partners | December 15, 2021
Ensemble Health Partners, in partnership with Caduceus Capital Partners, led the $8 million Series A capital raise for Janus Health, a revenue cycle automation and decision support platform.
Billions of dollars are left uncollected annually by healthcare providers due to poor methods and inconsistent human decision making in the revenue cycle process. Janus Health studies end-user behavior within the revenue cycle and uses advanced AI to determine the optimal path for each workflow. Janus then automates processes and end-to-end workflows using its scalable platform and delivers real-time predictive recommendations to guide human worker performance.
“I invest in people first. I’ve known Brendan for a long time, and he has assembled an incredible team who are experts in the field. We see a lot of technology fads in healthcare, but I am always most concerned with delivering value and creating a meaningful impact for our clients and associates. As someone deeply entrenched in the revenue cycle world, I see tremendous potential for Janus to deliver on both fronts.”
Judson Ivy, Founder, President and CEO, Ensemble Health Partners
“Several factors, including labor shortages, shrinking reimbursements and more stable IT environments, are creating a ripe opportunity to transform the revenue cycle with artificial intelligence and automation,” said Brendan Downing, co-founder and CEO of Janus Health. “Janus Health offers a timely service that can have a significant impact for health systems struggling with these rising costs-to-collect and reimbursement challenges.”
Health systems continue to struggle with a workforce shortage and lack of resources. A recent McKinsey & Company study showed that $180 billion could be saved in healthcare administration and finance costs with automated technology. Many health systems do not currently have revenue cycle automation, but plan to implement this technology in the next year. With Janus Health, managers and executives receive actionable insights into people, productivity and practices, allowing them to optimally allocate and manage resources.
“The revenue cycle in healthcare is notoriously challenging. Billing and collections are especially complicated when you consider the various payors and parties involved in a transaction,” said Dave Vreeland, senior managing partner at Caduceus Capital Partners. “This area is one of the most labor-intensive in healthcare, and there is a huge opportunity for Janus to make a difference in the industry.”
Jim Gaffney, EVP, strategy and corporate development at Ensemble Health Partners and Sue Tyler, venture partner at Caduceus Capital Partners will serve on the Janus Health board of directors.
About Ensemble Health Partners
Ensemble Health Partners is a leading provider of technology-enabled revenue cycle management solutions for health systems, including hospitals and affiliated physician groups. The company offers end-to-end revenue cycle solutions as well as a comprehensive suite of point solutions to clients across the country.
About Caduceus Capital Partners, LLC
Caduceus Capital Partners is a venture capital and private equity company focused on early-stage digital health investments. The Caduceus Capital Partners investment model actively supports portfolio companies from the first check to the exit phase with operational expertise and network access to potential customers and partners.
About Janus Health Technologies
Janus Health is leapfrogging the automation solutions of today by developing the only end-to-end process improvement platform that studies a revenue cycle operation to determine the optimal path of each workflow and rapidly builds intelligent automation and decision support with a single-click.