Healthcare Analytics
WellSky | October 13, 2023
WellSky has officially declared its acquisition of Corridor, a comprehensive technology-enabled service platform tailored to address the most formidable challenges in the post-acute care industry.
This strategic move is intended to aid care providers in enhancing their efficiency and overall performance across various domains, encompassing clinical, financial, operational, and compliance aspects. The acquisition has been facilitated through the purchase of Corridor from HealthEdge Investment Partners, a private equity firm with a dedicated focus on healthcare.
Bill Miller, CEO of WellSky, highlighted providers' need for quality care support and reduced administrative burdens. He stated,
As we looked to strengthen our services offerings, Corridor emerged as an ideal partner. Together, WellSky and Corridor help more post-acute care organizations succeed against industry challenges.
[Source – Business Wire]
Des Varady, CEO of Corridor, expressed that for over three decades, Corridor has remained dedicated to its mission of enabling clients to optimize their performance and resources through robust technology-based solutions. He conveyed his enthusiasm for Corridor's continued commitment to advancing this mission as an integral part of the WellSky team. By gaining access to WellSky's technology-driven solutions, focusing on enhancing outcomes, reducing expenses, and enhancing patient and family satisfaction, Corridor is better positioned to serve its clients more effectively.
With the integration of Corridor into its portfolio, WellSky aims to broaden its spectrum of services in medical coding and revenue cycle management.
About WellSky
Known for its proven software, analytics, and services, WellSky, a prominent U.S. healthcare technology company, drives better outcomes and cost savings across the healthcare and community care spectrum. It empowers providers, payers, health systems, and community organizations to streamline processes, enhance collaboration, leverage data analytics, and improve results by integrating clinical and social care.
About Corridor
The Corridor Group Holdings, LLC (Corridor) is a prominent post-acute healthcare sector entity offering top-tier technology-driven outsourced coding, revenue cycle, and educational solutions. It specializes in improving documentation quality and getting better client reimbursement outcomes, including for large health systems, national chains, and smaller, independently managed agencies.
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Digital Healthcare
ClosedLoop | September 20, 2023
ClosedLoop, a prominent healthcare data science platform, has formally introduced two novel data science solutions.
These solutions, namely, ACO-Predict and Evaluate, are crafted to assist healthcare organizations in the comprehensive analysis, assessment, ongoing surveillance, and enhancement of their programs, with the objectives of minimizing adverse events, enhancing health outcomes, and curtailing expenditures.
ClosedLoop's offering, ACO-Predict, marks the healthcare sector's inaugural no-cost AI-powered solution for population health risk stratification. It harnesses the same algorithms that propelled ClosedLoop to garner fame in the 2021 CMS AI Challenge and earned the Best in KLAS Healthcare AI ranking for 2022 and 2023. When integrated with the updated Beneficiary Claims Data API data feeds from the Centers for Medicare and Medicaid Services, the product furnishes Medicare Accountable Care Organizations with a turnkey risk stratification tool for Complex Care Management programs, all free of charge.
Meanwhile, the company's second product, ClosedLoop Evaluate, is a SaaS solution designed to evaluate and continuously monitor the efficacy of intricate population health initiatives over extended durations. Quantifying the impact and ROI of Population Health programs has presented significant challenges. Organizations often need to resort to imprecise pre- and post-assessments or enlist costly consulting firms for one-off outcome research studies to understand the actual effects of their programs.
ClosedLoop’s solutions aim to improve healthcare organizations' outcomes and offer essential patient support.
Jennifer Zbell, VP of Clinical Analytics at Healthfirst, stated,
ClosedLoop provided the quantitative evidence we needed to increase investment in successful programs." She added, "Evaluate gives us the confidence to examine our programs across the board so we can better see what's working, when it's working, and who it's working for.
[Source – Business Wire]
ClosedLoop Evaluate represents a pioneering industry solution that not only supplants these studies with software-driven evaluations but also facilitates the ongoing assessment of program impact amid evolving programs and populations.
Andrew Eye, Co-Founder and CEO of ClosedLoop concluded that success in value-based care hinges on two key aspects: accurate prediction and effective intervention. ACO-Predict delivers AI-powered prediction capabilities to all medicare patients nationwide at no cost, ensuring access to necessary assistance regardless of location or ACO resources.
About ClosedLoop
ClosedLoop is a dedicated data science platform tailored to the healthcare sector, simplifying the integration of AI technology to enhance outcomes and curtail expenses. Uniquely designed for the healthcare domain, the company merges an intuitive, all-encompassing ML platform with an extensive repository of healthcare-specific functionalities and model templates. Customers leverage ClosedLoop's Explainable AI capabilities to facilitate clinical excellence, streamline operational processes, navigate value-based contracts, and bolster revenue generation in the healthcare industry.
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Healthcare Analytics
PR Newswire | October 19, 2023
WELL Health Technologies Corp. a digital health company focused on tech-enabling healthcare providers, and its investee company, HEALWELL AI are pleased to announce the launch of "WELL AI Decision Support", a groundbreaking new service for healthcare providers. This partnership is the first major collaborative initiative between the two companies since the announcement of the Strategic Alliance Agreement on October 3, 2023. Both companies view this as the beginning of a long-term, mutually beneficial partnership, with a shared vision and commitment to ongoing innovation.
Hamed Shahbazi, Founder and CEO of WELL commented, "We firmly believe the physician experience of the not-too-distant future will involve a number of safe, secure and helpful digital diagnostic tools that will better support healthcare providers in detecting acute and chronic diseases earlier. The launch of 'WELL AI Decision Support' perfectly aligns with our core strategy to empower healthcare providers with transformative technology, enhancing their capacity to improve patient outcomes and promote preventative health."
Dr. Michael Frankel, Chief Medical Officer of WELL, added, "The arrival of 'WELL AI Decision Support' marks more than just technological advancement; it's a watershed moment in our pursuit of superior patient care. By harnessing AI's potential, we are equipping healthcare professionals with tools that refine and elevate their practice. Each patient deserves individualized attention and precision in care, and this module is a step forward in realizing that vision."
Dr. Alexander Dobranowski, CEO of HEALWELL AI, said.
Our partnership with WELL is a strategic imperative in healthcare. The alignment between HEALWELL's pioneering data science and WELL's expansive clinical network underscores the strength of our collaboration. Together, with WELL's robust healthcare software solutions, we are creating a synergy poised to redefine healthcare standards. This partnership amplifies our combined commitment to leveraging data science for healthcare applications, ultimately benefiting patients and healthcare providers alike.
[Source: PR Newswire]
The 'WELL AI Decision Support' module is a groundbreaking solution that bridges a critical gap in healthcare diagnostics and patient care, heralding a new era of precision in healthcare delivery. WELL AI Decision Support leverages artificial intelligence (AI) technologies to enable the earlier diagnosis, treatment and improved quality of life for the patient. The technology behind WELL AI Decision Support has been meticulously developed by HEALWELL, in close collaboration with dedicated physicians, leading researchers, data privacy professionals, pharmaceutical companies, and other domain experts. This rigorous process of development and refinement has led to its validation in both Canadian and U.S. healthcare systems. WELL AI Decision Support is also a highly modular service that will be expanded with time. Initially, the service enables healthcare providers to accurately identify over 110 complex or rare diseases often overlooked by traditional methods, providing hope to thousands of patients across Canada.
'WELL AI Decision Support' is the second significant product release under the WELLHealth.ai program, following the successful "WELL AI Voice" module, and further exemplifies WELL's unwavering commitment and leadership in delivering effective AI solutions in healthcare. WELL AI Decision Support is featured on apps.health, WELL's premium digital marketplace for EMR tools and applications.
Rare and complex diseases affect over 300 million patients worldwide, and in Canada, 1 in 12 individuals lives with a rare disorder. What's even more alarming is the substantial number of people who remain undiagnosed and unaware of their underlying conditions. For those who do exhibit symptoms, the journey to a correct diagnosis is an arduous one. On average, they consult 8 physicians, endure 2-3 misdiagnoses over a span of 4.8yrs before receiving an accurate diagnosis.
This partnership represents a significant win for HEALWELL, granting expansive channel access to healthcare providers. The launch of 'WELL AI Decision Support' module underscores the trust and validation of HEALWELL's expertise within the industry. Both WELL and HEALWELL plan to continue to collaborate to combine their expertise and capabilities for more groundbreaking developments in the future.
About WELL Health Technologies Corp.
WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 31,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 148 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF".
About HEALWELL AI Inc.
HEALWELL AI is a health care technology company focused on AI and data science for preventive care. Its mission is to improve health care and save lives through early identification and detection of disease. As a physician-led organization with a proven management team of experienced executives, HEALWELL AI is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement the company's road map.
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Healthcare Analytics
Xenex | September 11, 2023
United States Food and Drug Administration (USFDA) has issued a De Novo authorization to Xenex Disinfection Services, Inc. (Xenex) for its LightStrikeTM+ device, an advanced high-intensity, broad-spectrum ultraviolet (UV) light robot.
The LightStrike+ devices are designed for microbial reduction on non-critical medical device surfaces in healthcare environments, following manual cleaning and disinfection practices. They are authorized for use in various healthcare settings, including unoccupied operating rooms and hospital rooms. These devices have an impressive track record, with over 1,200 healthcare facilities worldwide employing LightStrike robots for over 37 million cycles.
The new LightStrike+ device, capable of microbial reduction in as little as 2 minutes, represents the culmination of over a decade of knowledge accumulation from healthcare facilities' best practices, supported by 45 peer-reviewed studies demonstrating its safety and effectiveness, a portfolio of 193 patents, and unparalleled technical and epidemiological expertise.
Dr. Mark 'Tuck' Stibich, Xenex's Founder and Chief Scientific Officer, emphasized the long-standing collaboration with healthcare partners spanning more than a decade to enhance patient safety and public health.
As an infectious diseases epidemiologist, Dr. Stibich expressed concern about antibiotic resistance within hospital environments and the potential for FDA authorization to facilitate the broader adoption of the LightStrike+ tool in combating pathogens.
Perilous pathogens persist on surfaces within healthcare facilities, notwithstanding diligent manual cleaning endeavors. The LightStrike+ robot employs a xenon lamp to generate high-intensity pulsed UV light, which effectively diminishes the presence of these pathogens on surfaces and plays a pivotal role in interrupting the transmission chain from one patient or healthcare worker to another. Xenex's FDA authorization is substantiated by comprehensive testing conducted on more than 10,000 samples of vegetative bacteria and Clostridiodes difficile (C. diff) spores.
This authorization establishes a novel medical device product classification, with the LightStrike+ robot being its inaugural and sole product. It is a landmark in the FDA's regulatory framework for UV robots designed to diminish pathogens on non-porous, frequently touched surfaces within healthcare settings.
Furthermore, Xenex's Chief Executive Officer, Morris Miller, acknowledged the challenges hospitals face when evaluating UV technologies, citing the prevalence of unverified and exaggerated claims by some manufacturers. He underscored the significance of FDA authorization in instilling confidence among hospital decision-makers, assuring them of the accuracy and validation of Xenex's claims regarding the LightStrike+ device.
Numerous world-renowned hospitals, such as HonorHealth, Mayo Clinic, MD Anderson Cancer Center, Ochsner Health System, Stanford Health Care, and Texas Health Resources, have integrated LightStrike robots into their comprehensive disinfection strategies.
About Xenex
Xenex is a global leader in pioneering strategies and solutions grounded in UV technology. Its fundamental mission revolves around enabling its partners to safeguard lives and reduce human suffering by eliminating the dangerous microorganisms that cause infections. The company benefits from substantial support from renowned investors, including EW Healthcare Partners, Piper Sandler, Malin Corporation, Battery Ventures, Targeted Technology Fund II, Tectonic Ventures, and RK Ventures.
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