HEALTH TECHNOLOGY

HybridChart and Kovo HealthTech Announce Strategic Partnership

HybridChart | February 11, 2022

HybridChart, the leader in mobile charge capture and workflow solutions for rounding physicians, announced today a partnership with Kovo HealthTech Corporation, a leader in healthcare technology and Billing-as-a-Service. This partnership highlights HybridChart's continued effort to help optimize practice workflows, drive down healthcare costs, and enhance revenue cycle management.

HybridChart creates easy and fast charge captures at the point of care, which flow electronically into Kovo's industry-leading billing software, creating a seamless workflow for medical billing. Benefits of HybridChart's comprehensive solution include secure messaging and discharge coordination, improving overall efficiency, and allowing providers to bring the focus back to patient care.

"The alignment of our solutions serves as a scalable blueprint for modern revenue cycle management in healthcare's disconnected landscape," said Gregory Sanders, MD, Founder and CEO, HybridChart. "Working together we are providing much needed smart interoperability, promoting synergy of each of our proficiencies, and bringing clients an integrated solution."

Kovo allows healthcare providers to digitally track and manage complex patient care registration, services, and billing and payments, using its proprietary OneRev technology platform. Partnering with HybridChart extends its solution to providers outside of the office setting, reducing claim cycle length and eliminating the need for manual data entry.

"Joining forces with HybridChart is another way we're bridging the gap between providers and their billers, with data flowing strategically in real time. This comprehensive integration adds to our team's ability to reduce costs and improve efficiencies, so healthcare providers can focus on what matters most, delivering quality care."

Greg Noble, CEO of Kovo

About HybridChart
HybridChart, a leading provider of medical technology, connects healthcare teams, increases efficiency, and improves patient outcomes. HybridChart EVOLVE, the fourth version of this software, adapts to unique workflows and enhances profitability. Used by providers from diverse specialties, practices of all sizes across the United States benefit from EVOLVE's 5 core features: Charge Capture, Census Management, Secure Messaging, Discharge Planning, and Data Analytics. 

About Kovo HealthTech Corporation
Kovo HealthTech Corporation is a leader in healthcare technology and Billing-as-a-Service ("BAAS"). Kovo helps US healthcare providers digitally track and seamlessly manage complex patient care registration, services, billing and payments for over 3.5 million patients in 40+ states. Kovo helps healthcare practitioners get paid more quickly so they can focus on offering quality care. 

Spotlight

Today’s ultrasound facilities are faced with many challenges including standardizing exams, diagnostic confidence, timely patient care, work flow and work-related musculoskeletal disorders (WRMSD) among the staff. Ninety percent of sonographers surveyed in 2008 reported some type of injury that they attributed to their work.


Other News
HEALTH TECHNOLOGY,MEDICAL DEVICES

Predictive Health Solutions Technology Shows Promise in Combating Patient Appointment No-Shows

Predictive Health Solutions | December 06, 2022

With the Predictive Health Solutions Patient No-Show Predictor, providers now have a new tool in combatting patient no-shows. By leveraging the power of predictive analytics, the PHS Patient No-Show Predictor can also help reduce patient backlogs and long waitlists, improve operational efficiencies, promote better patient health outcomes, increase potential revenues, enhance patient care, and minimize caregiver burnout. Powered by SAS analytics software and co-developed by Pinnacle Solutions, the solution seamlessly integrates cutting edge technology into pre-existing daily operations, making it easy for healthcare staff to use. The solution identifies high-risk patients as well as potential key risk factors impacting a patient's ability to attend their appointment, such as weather, social determinants of health, or many other factors. Using the information provided, staff can quickly make informed decisions regarding intervention strategies that directly impact the patient's likelihood of attending their appointment and receiving the care they need. For example, staff may choose to offer alternative options to those with unreliable transportation or suggest afternoon appointments for those whose morning commute would be impacted by traffic delays. Teams may also choose to use the intelligence gathered to customize individual reminder protocols to maximize the impact and value of those existing tools. Data gathered can also be leveraged for strategic overbooking, as opposed to, for example, blindly scheduling same-day appointments. Patient no-shows cost the US and Canadian healthcare systems more than $150 billion annually, and those numbers are likely higher as a result of the COVID-19 pandemic. The ensuing funding shortages not only impact the bottom line, but also directly affect healthcare systems' ability to provide the desired level of care, which in many cases creating even greater accessibility and availability issues. For instance, revenue lost as a result of no-shows could be used to fund additional medical staff or provide the latest medical technologies and therapy sessions for patients in need. Predictive Health Solutions is a joint venture with Pinnacle Solutions, Inc. and the Center For Discovery, Innovation and Development an affiliate member of RWJBarnabas Health and a member of Children's Miracle Network Hospitals. PHS was established to improve access to healthcare, improve diagnostic algorithms, and enhance patient outcomes. PHS uses patient data and external sources to develop solutions that address healthcare needs better. Using machine learning algorithms and artificial intelligence, PHS helps organizations create optimal health for their communities.

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MEDICAL DEVICES

Carestream Health Unveils New X-ray Detectors, Enhanced X-ray Rooms at World’s Largest Radiology Exhibition

Carestream Health | November 29, 2022

Carestream’s legacy of delivering quality medical imaging technology continues with the launch of new digital X-ray detectors that help improve clinical outcomes, while enhancements to its existing product portfolio reflect the company’s deep understanding of the radiology profession. At the annual meeting of the Radiological Society of North America (RSNA) in Chicago, the company is displaying its expanding portfolio of medical imaging systems that provide quantifiable benefits to healthcare organizations and their patients, including New Carestream Focus HD 35 and Focus HD 43 detectors that offer higher resolution with a 100 micron pixel pitch that allows for image magnification for better visibility of small objects and microstructures. The detectors’ Cesium (CsI) scintillator is ideal for dose-sensitive pediatric patients; and the detectors have an IP56 rating for better protection against dust and fluid ingress. Next generation of long-length imaging, the Carestream DRX-LC Detector (INVESTIGATIONAL – NOT AVAILABLE FOR COMMERCIAL SALE) captures long-bone and spine images with a single exposure, making it ideal for pediatric imaging and long-bone and spine images of people with limited mobility. In contrast, the traditional multi-shot approach requires three to five exposures followed by manipulation and stitching of the images. The new detector is designed to capture the full image in a single exposure to minimize dose and mitigate motion artifact that can appear from patient movement with a multi-shot exam. The DRX-LC Detector is designed with X-Factor so the detector can be shared across different Carestream X-ray systems and is compatible with both rooms and mobile units. Enhancements to the Carestream DRX-Evolution Plus that provide improved patient comfort and a better ergonomic experience along with improved workflow for the radiographer. Its new tabletop design eliminates rails that can cause strain and discomfort for both radiographer and patient, enabling patients to be moved more smoothly and with less effort to the exam table. New features in the Carestream DRX-Excel Plus provide a better staff experience with faster workflow and better diagnostic image quality. Designed specifically for large and mid-size hospitals and medical centers, this innovative system combines fluoroscopy and general radiology capabilities in one compact unit. It delivers accelerated workflow, high-resolution images and a wide range of patient exam options. “Our commitment to quickly respond to the needs of the radiology community with ideas that clearly work is as strong as ever, and we are solidly positioned to continue developing solutions that have quantifiable benefits to our customers and their patients. Organizations can have complete confidence in our ability to provide high-value technology that helps lower costs, and improves imaging workflow for radiology departments, technologists and other healthcare professionals—all with the goal of improving patient care.” David C. Westgate, Chairman, President and CEO of Carestream About Carestream Health Carestream is a worldwide provider of medical imaging systems; X-ray imaging systems for non-destructive testing; and precision contract coating services for a wide range of industrial, medical, electronic and other applications—all backed by a global service and support network.

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FUTURE OF HEALTHCARE, DIGITAL HEALTHCARE

BioNJ Hosts Its Inaugural Health Equity in Clinical Trials MBA Business Plan Case Competition

BioNJ | December 07, 2022

BioNJ, New Jersey's life sciences trade association, hosted an Inaugural Health Equity in Clinical Trials MBA Business Plan Case Competition on Saturday, December 3, at Rutgers Business School. BioNJ's Business Plan Case Competition, which is part of a broader BioNJ strategic initiative of Health Equity in Clinical Trials, was designed to promote the next generation of diverse clinical trial innovators and identify innovative approaches and successful models that can be used nationally to strengthen diversity in clinical trials and expand health equity. BioNJ believes that health equity in clinical trials is critical to deepening the understanding of the safety and efficacy of medicines in under-represented populations, expanding access to medical innovation for these populations and increasing dialogue and trust among the biopharma industry, communities and healthcare systems. By discovering new approaches, utilizing new technologies and developing new business standards to make trials more accessible, we can work to create more agile, efficient and Patient-centered medical research. Eight teams, competing for more than $20,000 in prize money, were tasked with developing a business plan defining a new solution, application or technology to help address this important and challenging problem. Teams identified one particular type of health disparity on which to frame their proposed solutions and connected with community-based organizations to better understand the real-world barriers that exist for their chosen populations to engage in clinical trials. The disease areas on which the respective teams focused included Alzheimer's, heart failure, multiple sclerosis, diabetes type 1 and type 2, colorectal and cervical cancers, and oncology. "There is an urgent need to bring more diversity to clinical trials in order to better serve Patients and their communities…thereby helping to address health inequities. Only by improving diversity in clinical trials will we be able to deepen our understanding of the safety and efficacy of medicines for all populations. I am extremely proud of our teams. Each of the business plans offered a unique out-of-the-box solution – helping advance our ambition to have no Patient left behind." Amadou Diarra, Ph.D., Senior Vice President, Global Policy, Advocacy & Government Affairs for Bristol Myers Squibb; BioNJ Board Member and Chair of the BioNJ Health Equity in Clinical Trials Initiative Live pitch presentations were made throughout the day to a Panel of Judges comprised of industry experts Naikia Atkinson, Director, U.S. Clinical Trials Diversity and Inclusion, Sanofi Schylr Greggs, Director, Technology Operations, Medidata Sharon Hanlon, Head, Clinical Trial Engagement & Enrollment, Bristol Myers Squibb Maribel Hernandez, Vice President, Clinical Operations & Special Projects, PTC Therapeutics Jack Rosenberg, Manager, Investments and Business Development, TrialSpark Del Smith, Co-Founder & CEO, Acclinate Lolita Smith, Program Manager, Rare Disease Diversity Coalition, Black Women's Health Imperative Matt Walz, CEO, TrialBee "Although ultimately three winning teams were presented with cash prizes, each team has made a difference for Patients by offering new solutions and technologies to better serve Patients, build community trust and address gaps in health care delivery," said Paul Howard, Ph.D., BioNJ Business Case Competition Steering Committee Chair and Senior Director, Public Policy for Amicus Therapeutics. "This is just the start as we work to share these proposals more broadly." A white paper with all of the presentations will be published in April and rolled out during BioNJ's acclaimed BioPartnering Conference – which brings together more than 500 industry professionals from around the globe. The three winning teams will present their plans during the April 18 BioPartnering Conference and all of the students are invited to attend to meet the community. About BioNJ BioNJ is the life sciences trade association for New Jersey, representing close to 400 research-based life sciences organizations and stakeholders across the healthcare ecosystem from the largest biopharmaceutical companies to early stage start-ups for nearly 30 years. Because Patients Can't Wait®, BioNJ is dedicated to ensuring a vibrant ecosystem where Science is Supported, Companies are Created, Drugs are Developed and Patients Have Access to Lifesaving Medicines.

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MEDICAL DEVICES

NextGen Healthcare Announces Agreement to Acquire TSI Healthcare

NextGen Healthcare, Inc. | December 01, 2022

NextGen Healthcare, Inc. a leading provider of innovative cloud-based healthcare technology solutions, today announced it has signed a definitive agreement to acquire TSI Healthcare, a privately held value-added reseller located in Chapel Hill, NC. The acquisition shall be deemed effective 11:59 p.m. on November 30, 2022. The consideration is comprised of an upfront amount of $68 million, which will be paid in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025. The acquisition is expected to contribute approximately $10 to 12 million of revenue in the remaining four months of fiscal 2023 and will be accretive to adjusted EBITDA and cash flow within a year. The company plans to update guidance when it reports its fiscal 2023 third quarter results. “TSI was one of our premier clinical content and technical services partners specializing in comprehensive solutions for specialty physician practices. This acquisition enables NextGen Healthcare to expand its presence in key specialties including rheumatology, pulmonology and cardiology.” David Sides, president and chief executive officer of NextGen Healthcare “TSI Healthcare has been part of the NextGen Healthcare family over 16 years, developing specialty specific solutions exclusively on NextGen Healthcare’s platform,” said David Dickson, Jr., president and chief executive officer of TSI Healthcare. “We’re excited to extend our services expertise with NextGen Healthcare’s product and services leadership to further solidify NextGen Healthcare as among the most trusted names in ambulatory healthcare.” About NextGen Healthcare, Inc. NextGen Healthcare, Inc. is a leading provider of innovative healthcare technology solutions. We are reimagining ambulatory healthcare with award-winning solutions that enable high-performing practices to create healthier communities. We partner with medical, behavioral and dental providers in their journey toward whole person health and value-based care. Our highly integrated, intelligent and interoperable solutions go beyond EHR and Practice Management to increase clinical quality and productivity, enrich the patient experience and drive superior financial performance. We are on a quest to achieve better healthcare outcomes for all. About TSI Healthcare TSI Healthcare® is a national leader in the sales and support of customized NextGen® Practice Management and Electronic Health Record software. TSI Healthcare continues to deliver innovative, specialty-specific solutions to maximize revenue, reduce costs, and advance patient care through unmatched customer service that focuses on the human element. TSI's support teams include NextGen Certified Professionals, clinicians, and former practice administrators, based in the U.S. In addition to core products, TSI Healthcare also offers Revenue Cycle Management, Patient Portal, Population Health Management, Cloud Hosting and more.

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Spotlight

Today’s ultrasound facilities are faced with many challenges including standardizing exams, diagnostic confidence, timely patient care, work flow and work-related musculoskeletal disorders (WRMSD) among the staff. Ninety percent of sonographers surveyed in 2008 reported some type of injury that they attributed to their work.

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