HL7 releases FHIR 4

Healthcare IT News | January 02, 2019

Health Level Seven announced on Wednesday that a new version of its interoperability specification is now available. Many in the healthcare industry have been eagerly awaiting the fourth iteration of FHIR 4 because future changes will now be backward compatible. "Applications that implement the normative parts of R4 no longer risk being non-conformant to the standard," said FHIR Product Director Grahame Grieve on the FHIR blog. Grieve also noted that in addition of the base platform several key piece of FHIR are also now normative, including the RESTful API, the XML and JSON formats, the terminology layer, the conformance framework as well as Patient and Observation resources.

Spotlight

The Boards of Trustees of The Mount Sinai Medical Center and Continuum Health Partners (CHP) today announced completion of the transaction to establish a new, integrated health system called the Mount Sinai Health System. Encompassing the Icahn School of Medicine at Mount Sinai and seven member hospital campuses, the Health System will provide increased access to primary and specialty care for local and global communities, as well as an expansive network of ambulatory care centers throughout the New York metropolitan region.


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HEALTH TECHNOLOGY

IMPLANET Signs an Exclusive Distribution Contract for SMTP Technology Co.’s Ultrasonic Surgical Scalpel in France

IMPLANET | November 23, 2022

IMPLANET a medical technology company specializing in vertebral implants, announces the signing of an agreement with SMTP Technology Co., a high-tech medical device company specialized in the manufacturing and marketing of ultrasonic medical equipment, for the exclusive distribution of its latest generation ultrasonic surgical scalpel in France. Adam Li, GMA & International Business Manager at SMTP Technology Co., stated: “We are delighted with the signing of this contract tying us to IMPLANET, which will henceforth ensure the distribution of our latest generation ultrasonic surgical scalpel. This innovative solution will increase surgical efficiency while ensuring greater patient safety. Thanks to this collaboration with IMPLANET, a company recognized for its expertise in the field of spine surgery and its foothold in French medical centers, we are strengthening the credibility of our solutions for their international deployment”. “This latest contract, which comes close on the heels of the commercial and technological partnership signed with Sanyou Medical, further emphasizes the pertinence of our repositioning on the spine market. The surgical scalpel developed by SMTP, through its innovation and ease of use, should meet the needs of surgeons and patients alike. IMPLANET is proud to be able to work with one of the only players in the world capable of developing this type of product based on ultrasound”. Ludovic Lastennet, IMPLANET’s Chief Executive Officer The ultrasonic surgical scalpel developed by SMTP Technology Co. can support both open surgery, minimally invasive surgery and endoscopic intervertebral spine surgery. This product, which has been granted marketing clearance in China, the European Union and the United States, stands out through its innovative design, guaranteeing enhanced surgical safety. Thanks to the smaller amplitude of its cutting tip, the scalpel cuts bone tissue by the acceleration of hundreds of thousands of mechanical vibrations per second while sparing soft tissue. The agreement signed today between IMPLANET and SMTP Technology Co. follows the signing of the distribution contract and technological partnership with Sanyou Medical, of which SMTP Technology Co. is a subsidiary. This new agreement gives IMPLANET exclusive rights to distribute the scalpel on the French market. SMTP Technology Co., founded in 2010, is a high-tech medical device company focusing on the innovative research and development, manufacturing and marketing of ultrasonic surgical equipment. The ultrasonic osteotomy surgical system manufactured by SMTP Technology, which supports both open surgery and minimally invasive surgery under the channel and intervertebral endoscope, has been granted marketing approval in China, the European Union and the United States. Based in the Zhangjiagang free trade zone in Jiangsu province, SMTP is a subsidiary of the Sanyou group with 100 employees and revenue of 14 million euro. About IMPLANET Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity revolves around a comprehensive innovative solution for improving the treatment of spinal pathologies complemented by the product range offered by Orthopaedic & Spine Development (OSD), acquired in May 2022. Implanet’s tried-and-tested orthopedic platform is based on the traceability of its products. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration in the United States, the CE mark in Europe and ANVISA approval in Brazil. IMPLANET employs 39 staff and recorded a consolidated revenue of €6.1 million in 2021. Based near Bordeaux in France, IMPLANET opened a US subsidiary in Boston in 2013. IMPLANET is listed on the Euronext Growth market in Paris.

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HEALTH TECHNOLOGY

Francisco Partners to Acquire bswift from CVS Health

Francisco Partners | October 04, 2022

Francisco Partners a leading global investment firm that specializes in partnering with technology businesses, announced it has signed a definitive agreement to acquire bswift, a leading provider of benefits technology and services, from CVS Health. Founded in 1996, bswift is a provider of software and services that streamline benefits and human resources administration, offering a cloud-based technology platform with best-in-class service. The company combines its deep expertise and passion for technology innovation with strong customer service and a unique consumer-driven approach. bswift helps its partners and employers simplify administration, manage employee benefits, reduce administrative costs, and connect employees with resources needed to achieve their health ambitions. The company serves millions of employees with a single benefit destination across all life events from hire to retire. bswift will continue to partner with CVS Health and Aetna, a CVS Health company, to provide benefits technology to its employees and client base. “CVS Health and Aetna remain committed to bswift and to the clients, partners and members we support in benefits administration. FP’s deep expertise in technology and proven track record in nurturing and growing technology businesses will enable bswift’s loyal base of employees to continue delivering innovative solutions.” Mark Santos, Vice President, Diversified Commercial Solutions at Aetna Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and long-standing investors in the technology industry. Francisco Partners has experience in the healthcare and human capital technology market and its investments have focused on companies that provide the best possible products and service for its customers and partners. Francisco Partners also has extensive experience partnering with corporations to execute divisional carve-outs with transactions such as IBM’s Watson Health business (now Merative) and Discovery Inc.’s Discovery Education business. Justin Chen, Partner at Francisco Partners, said, “We are excited to partner with bswift and help the team continue to grow its robust technology and service offerings across benefits and healthcare. bswift is uniquely positioned as a market leader to help employers navigate the evolving industry trends and opportunities to holistically engage employees through health, wellness and financial benefits.” “We appreciate CVS Health’s work in growing this business and are confident that our partnership will help bswift drive crucial focus in executing on organic and inorganic growth strategies,” said Anders Mikkelsen, Vice President at Francisco Partners. “We look forward to supporting the talented employees and management team.” Financial terms of the transaction have not been disclosed. The acquisition is expected to close in the fourth quarter of 2022, subject to the satisfaction of customary closing conditions. Kirkland & Ellis LLP served as legal advisor and Wells Fargo Securities, LLC served as financial advisor to Francisco Partners. CVS Health engaged Fried, Frank, Harris, Shriver & Jacobson LLP and Dechert LLP as legal counsel and Goldman Sachs as exclusive financial advisor. About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. About bswift bswift helps customers change the way their employees perceive and engage with their benefits through a proven blend of adaptive technology, service excellence, and compassionate service. Their intuitive, personalized enrollment experience inspires confidence and connects employees to the resources they need to achieve their personal ambitions. Partnering with enterprises nationwide and serving millions of employees, bswift offers cloud-based technology and services for online enrollment, interactive decision support, ACA compliance reporting and employee engagement.

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HEALTH TECHNOLOGY

Stellar Health Announces Expansion of Value-Based Care Initiative for Highmark, Inc.

Stellar Health | October 19, 2022

Stellar Health a healthcare technology company changing the way health insurers and providers activate value-based care arrangements, announced the expansion of their value-based care initiative with Highmark Inc. upon results of its initial program that improved quality and chronic condition management across Highmark's Medicare Advantage and Commercial lines of business. Stellar announced the collaboration in 2021 to help Highmark accelerate new payment models and value-based care for independent practices in Pennsylvania. This initiative, called True Performance Lite, was an extension of Highmark's existing True Performance PCP Suite Program aimed at serving larger providers. The True Performance Lite program used Stellar's unique incentive design that rewards providers and staff for completing granular VBC actions focused on quality improvement, management of chronic conditions, reduced ED and inpatient utilization, and affordability of care for Highmark members. The program saw strong results across VBC metrics compared to 2020: The program also saw high engagement and satisfaction across providers involved in the True Performance Lite program. "I wish all health plans had program, it's the easiest of all platforms by far," said Renee Guistwite, Office Manager from Guistwite Family Practice. Cathy, an Office Manager from Dr. Dana E Bragg MD's office says "This app is really easy. Every part is user-friendly and it doesn't take much time now that we have a workflow going. We are really excited about Stellar!" Stellar's web-based, cloud-native, point-of-care application leverages historical patient information to prompt primary care providers and their care teams of gaps and opportunities relating to patients' healthcare regimens for Highmark members. Stellar Health partners with health insurers to enable providers and their staff to engage in these value-based opportunities through the application with granular action recommendations, ensure success in closing gaps, and pairs each action with a financial incentive for the time it takes to complete it. In 2022, Stellar and Highmark expanded the True Performance Lite program into Pennsylvania, West Virginia, and Delaware supporting over 60+ provider groups across multiple lines of business and are continuing to build on the overall momentum and results in 2023. The companies are continuing to innovate on new ways to engage the Highmark network and drive outsized results through several cost and utilization initiatives as they bring the model to new provider profiles. "Our provider-centric model lends itself to the success we have seen with Highmark over the last year as they lead value-based care delivery in the Mid-Atlantic region. We look forward to expanding with multiple lines of business to allow providers who handle all types of coverage to meaningfully participate in VBC and help deliver better primary care for all patients." Michael Meng, CEO of Stellar Health About Stellar Health Stellar Health is a healthcare technology company focused on enabling success across the value-based care continuum by bridging the incentive gap between providers and payors. The Stellar solution is the first point-of-care, cloud-based platform that helps primary care providers continually engage with their patients by providing them real-time information and tangible action-based incentives for improving quality of care. With Stellar, providers can achieve a range of VBC goals, like improving quality scores and optimizing the patient care journey through transitions of care and high-value referrals, all with the objective of improving patient health.

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HEALTH TECHNOLOGY

Signify Health Receives NCQA’s HEDIS Allowable Adjustments Certification

Signify Health | September 26, 2022

Signify Health a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare networks to create and power value-based payment programs, has again achieved the National Committee for Quality Assurance certification for the Healthcare Effectiveness Data and Information Set. This is the second year in which the Company has received this certification. NCQA provides accreditations and certifications to evaluate a wide range of organizations across the healthcare system. More than 90 percent of health plans in the United States, covering 190 million people, rely on NCQA’s HEDIS measurement tool. The methodology that Signify Health uses to identify Medicare members who have gaps in their care and would benefit from in-home diagnostic testing was evaluated and certified by NCQA. Receiving this certification allows Signify Health to provide services that align with the industry's most rigorous data assessment processes, resulting in more accurate and timely clinical services for eligible members. “Through our comprehensive data set and analytics, Signify Health is able to effectively identify at-risk patients and connect them with the appropriate diagnostic and preventive services. We are proud to once again have achieved this NCQA certification, demonstrating our ability to effectively identify gaps in care and to support access to high-quality health services.” Marc Rothman, MD, Chief Medical Officer, Signify Health NCQA HEDIS measures relate to many of the most significant chronic health conditions facing seniors in Medicare. In 2021, Signify Health announced the certifications for diabetes care, kidney health evaluation in patients with diabetes, colorectal cancer screening, and osteoporosis management in women. In 2022, Signify Health was recertified for all of the measures from 2021 that are still recognized by NCQA and expanded its certification to include osteoporosis screening as a preventive measure for older women who have not had a fracture. Osteoporosis is a serious bone disease that impacts the quality of life, especially for women aged 67-85. With the appropriate screenings and interventions, the risk of future bone fractures related to osteoporosis can be reduced. HEDIS® is a registered trademark of the National Committee for Quality Assurance. NCQA Measure Certification Program™ is a trademark of the National Committee for Quality Assurance. About Signify Health Signify Health is a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. Our mission is to build trusted relationships to make people healthier. Our solutions support value-based payment programs by aligning financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings. Through our platform, we coordinate what we believe is a holistic suite of clinical, social, and behavioral services to address an individual’s healthcare needs and prevent adverse events that drive excess cost, all while shifting services towards the home. About NCQA NCQA is a private, nonprofit organization dedicated to improving health care quality. NCQA accredits and certifies a wide range of health care organizations. It also recognizes clinicians and practices in key areas of performance. NCQA’s Healthcare Effectiveness Data and Information Set is the most widely used performance measurement tool in health care.

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Spotlight

The Boards of Trustees of The Mount Sinai Medical Center and Continuum Health Partners (CHP) today announced completion of the transaction to establish a new, integrated health system called the Mount Sinai Health System. Encompassing the Icahn School of Medicine at Mount Sinai and seven member hospital campuses, the Health System will provide increased access to primary and specialty care for local and global communities, as well as an expansive network of ambulatory care centers throughout the New York metropolitan region.

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