How employers save money by paying employees to shop for healthcare

Healthcare Finance | March 06, 2019

Providing healthcare benefits to workers is getting more expensive for employers, a situation that has them scrambling for solutions. One approach has shown promise: Give them money to shop around for healthcare services. According to a new RAND Corp. study published in Health Affairs, paying employees between $25 and $500 for using a transparency tool, and encouraging them to select a lower-cost provider for certain elective healthcare services, can result in modest savings of about 2.1 percent over the course of a year. That's not a ton of money, but it's something, and with the cost of providing benefits on the rise, employers are starting to consider it as an effective cost mitigation strategy.

Spotlight

Mark A. van Buchem MD, Head of Radiology from Leiden University Medical Center, speaks to the rising costs in the healthcare delivery worldwide and the important role informatics can play to achieve value-based care.


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HEALTH TECHNOLOGY

The GIANT Health Event 2021. Early bird tickets on sale now

GIANT Health | October 13, 2021

Europe's greatest festival of Health Tech Innovation | 30th Nov - 1st Dec 2021 Join us at GIANT this year and immerse yourself in Europe's greatest festival of healthcare innovation. Find inspiration from global leading innovators, and discover the advances in technology that are revolutionizing healthcare provision. GIANT 2021 is set to be our biggest event yet so don't miss out. GIANT Health event is an invaluable, cost-effective global hybrid event. Combining both a real-world physical trade show and multiple conferences in central London, as well as a sophisticated and engaging virtual event based on GIANT Health’s proprietary Virtual Event Platform. Learn more about Digital Therapeutics.Would you like to network with 1000s and 1000s of Europe's leading healthcare and technology innovators, hospital leaders, health-sector investors, and entrepreneurs?Over 400 speakers will convene in 15+ conference at the massive GIANT Health Event, 30 November - 1 December, 2021. Come join us in person or remotely.Early Bird tickets are now available. CLAIM YOUR TICKET HERE A special promotional code which allows to save up to 25% on top is available for our subscribers: MEDIA25 See you there! Media contact: GIANT Health Events Ltd Olga Nosova +44 20 8144 9779 Olga@GIANT.health

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FUTURE OF HEALTHCARE

GeneQuantum and AIMEDBIO Collaborate on a First-in-Class Antibody -Drug-Conjugate

GeneQuantum Healthcare | April 19, 2022

GeneQuantum Healthcare Co., Ltd., a company specializing in site-specific bioconjugation for next generation biotherapeutics, has signed an agreement with a Korean biotech company, Aimed Bio Inc., to co-develop a First-in-Class therapeutic antibody drug conjugate (ADC). Aimed Bio, a spin-off company from Samsung Medical Center, is focusing on developing innovative antibody-centric drugs for brain diseases with few treatment options. Additional details were not disclosed. GeneQuantum focuses on next generation Antibody Drug Conjugate development. Taking advantage of the proprietary 'Ligase Dependent Conjugation' technology platform, which allows a site-specific conjugation of cytotoxins or other type of payloads to antibodies, the company has successfully developed a robust pipeline with more than 10 assets, with several at or approaching clinical stage. In addition to expanding the unique technology platform, the company has entered into a number of partnerships with domestic biotech/pharmaceutical companies and international partners. The growing number of partnerships speaks to the power of the GeneQuantum platform technology for not only improving key therapeutic characteristics of existing molecules, but also for creating new classes of molecules, ultimately increasing the number of available treatment options for patients worldwide. GeneQuantum is excited about the significant potential of partnerships with business partners and will continue to expand its deal pipeline in the antibody drug conjugate and protein therapeutic market. The collaborating ADC is a first-in-class asset with highly differentiated antibody against a unique target, a stable linker design and a novel payload with a strong by-stander killing effect. The resulting ADC is expected to treat brain and other cancers with huge unmet needs. "As an innovative antibody+ company, we look for complementary partners to maximize value of our platform technology. Aimed Bio not only has differentiated antibody acting on a unique target but also has deep knowledge and expertise in the field of brain tumor & CNS diseases. This collaboration is based on an excellent match between the two companies to generate a FIC ADC. Through close partnership, we are thrilled to bring revolutionary therapy for those patients without efficient treatment at this moment." Dr. Gang Qin, the Founder & Chairman, CEO of GeneQuantum Dr. Dohyun Nam, the Founder & Chairman, CTO of Aimed Bio and internationally renowned neurosurgeon with 32 years of experience in brain tumor & CNS diseases commented: "Aimed Bio has been successfully expanding its R&D pipeline for the past 2 years, and I am pleased to start this collaboration with GeneQuantum. After evaluating the data, the linker-payload and conjugation technology GeneQuantum provides proved to be very safe and effective. With the best antibody and brain tumor expertise of Aimed Bio, I believe the collaborating ADC will bring a tremendous impact on the field. We look forward to initiating clinical trial as soon as possible." About GeneQuantum Healthcare Co., Ltd. GeneQuantum Healthcare Co., Ltd. is a high-tech biopharmaceutical company dedicated to the development of innovative biotherapeutics. The company is focused on the development of a next generation of bioconjugate therapeutics to meet the unmet medical needs of cancer patients globally. For more information, visit www.genequantum.com. About AIMEDBIO Inc. AIMEDBIO is a spin-off company from Samsung Medical Center established in August 2018. AIMEDBIO aims to provide therapeutic solutions to patients with serious brain diseases, including neuro-oncological and -degenerative diseases, to save patients' lives and improve patients' quality of life. Based on solid global networks with key opinion leaders in the field, an excellent research team with profound achievements, and R&D pipelines with an outstanding drug development platform, AIMEDBIO is an emerging leader for development of innovative therapeutics against diverse brain diseases.

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DIGITAL HEALTHCARE

Purpose Investments Announces Launch of Purpose Healthcare Innovation Yield ETF, Canada’s First Fund to Focus on Innovation in Biotech and Healthcare

Purpose Investments | January 19, 2022

Purpose Investments Inc. (“Purpose Investments” or “Purpose”) is pleased to announce the launch of Purpose Healthcare Innovation Yield ETF (the “Fund”). The Fund has closed the offering of its initial units, and units of the Fund will begin trading today on the Toronto Stock Exchange under the ticker, HEAL. The Fund is the first of its kind in Canada to provide actively managed exposure to innovation leaders in biotech and healthcare. The recent advances in healthcare are only the beginning of what Purpose believes to be a new multi-year cycle in biotech and healthcare breakthroughs that will provide investors with opportunity for attractive long-term returns. The Fund will invest in an all-cap portfolio in the high-growth areas of gene-editing, digital healthcare, medical testing, dental, health maintenance, hospitals, pharmacies, and animal health. The portfolio holdings are primed for long-term growth and armed with commercialization opportunities and a strong pipeline of products under development. The Fund will also employ a covered call options strategy to generate additional yield and will have a more attractive income profile than the broad healthcare index. “The past two years have shown just how important it is to have innovative companies develop vaccines and push forward medical advancements. Between the pandemic and our aging population, the spotlight is on the industry to really grow and innovate. We launched this Fund to give Canadians an opportunity to get actively managed exposure to the healthcare companies that are changing the world with cutting-edge medical and technological advancements.” Som Seif, founder and CEO of Purpose Investments Purpose is the manager of the Fund and Next Edge Capital Corp. (“Next Edge Capital”) will act as the Fund’s sub-advisor. The Fund will be actively managed by Eden Rahimof Next Edge Capital, one of the world’s leading experts in healthcare investing. Mr. Rahim has an academic background in molecular genetics and extensive experience managing life-science and biotech portfolios. His active management, informed by his science background and industry experience, will position the Fund to capitalize on high-growth opportunities in the biotech and healthcare sectors. “With this Fund, we will work to strategically identify key healthcare companies developing innovations that will profoundly improve people’s lives,” says Rahim. “Purpose Healthcare Innovation Yield ETF aims to provide investors with exposure to unique opportunities that may not be on their radar, so they can reap the full rewards of the high-growth areas in healthcare and science.” “Eden is one of the leading global experts in healthcare investing, and someone who understands the math as well as the science backing the portfolio. We are excited to have such a seasoned portfolio manager help us maximize the growth opportunities in the space and provide investors with a strategy to generate attractive yield,” Seif concluded. About Purpose Investments Purpose Investments Inc. is an asset management company with approximately $14 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, and offers a range of outcome-focused products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

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DIGITAL HEALTHCARE

Nemaura Medical Launches Metabolic Health Program for Employers and Insurers

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.

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Spotlight

Mark A. van Buchem MD, Head of Radiology from Leiden University Medical Center, speaks to the rising costs in the healthcare delivery worldwide and the important role informatics can play to achieve value-based care.

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