Primary Care Providers Have Highest Levels of Burnout. Here's What Your Health System Can Do

Inside Digital Health | August 16, 2019

Despite specialists reporting high levels of burnout, it appears the levels among primary care providers surpassed that of specialists. In fact, primary care providers in the U.S. have near 80% burnout levels, according to a recent survey by InCrowd, a Massachusetts-based life science market company and innovator. The burnout level estimate is nearly double the 43.9% level reported in a study from the American Academy of Family Physicians in March. The alarming persistence of physician burnout over the years and across multiple studies unfortunately demonstrates that we have not yet turned the tide on this problematic issue,  said Diane Hayes, Ph.D., co-founder and president of InCrowd. The survey gathered perceptions form 612 U.S.-based physicians, of which 320 were primary care providers and 319 were specialists. A majority (56%) of the respondents were women. Providers were an average age of 43 and an average 12 years in practice, according to InCrowd.

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Pharmaceutical companies face complex issues that grow more challenging by the day. Healthcare reform and changes in technology, government policy, and consumer expectations are revolutionizing relationships with key stakeholders and impacting operations in unforeseen ways.


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HEALTH TECHNOLOGY

Walmart To Acquire AR Optical Tech Company Memomi

Walmart and Memomi | June 30, 2022

Walmart and Memomi, an augmented reality optical tech companyannounced they have entered into an agreement for Walmart to acquire Memomi. This reinforces Walmart’s commitment to frictionless and omnichannel optical care. Since 2019, Memomi has enabled digital measurements for all Walmart and Sam’s Optical customers, across more than 2,800 Walmart Vision Centers and 550 Sam’s Clubs, and also powers the Optical eCommerce experience on SamsClub.com. Acquiring Memomi, an AR company, is the next step in Walmart’s journey of offering personalized, affordable access to optical care. This acquisition furthers Walmart Health & Wellness’ strategy to deliver integrated, omnichannel healthcare, leveraging data and technology to improve engagement, health equity and outcomes. “Customers are looking for access to care digitally, in their homes, and purchasing eyeglasses is no different. This acquisition supports our Health & Wellness mission to provide accessible care to the communities we serve.” David Reitnauer, Vice President, Specialty Services, Walmart Health & Wellness Memomi is a leading provider of technology to enhance virtual optical try-on experiences, helping customers virtually “try on” eyewear in real-time for a seamless, easy and fun omnichannel experience. “Walmart’s ability to roll out our virtual try-on and contact-free digital measurements service in a short period of time shows how committed Walmart is to its customers’ need for digital care in-stores and at home,” said Ofer Saban, Chief Technology Officer, Memomi. The acquisition is expected to close in the coming weeks, and Memomi employees will join the Walmart Global Tech organization. “We’re excited to welcome the Memomi team to Walmart and add their capabilities to our leading virtual reality technology that is transforming the retail experience for our customers and members,” said Cheryl Ainoa, Senior Vice President, New Businesses & Emerging Tech, Walmart Global Tech. “We are looking forward to joining Walmart and offering our innovations and user experiences to such a large scale both in-store and online,” said Salvador Nissi Vilcovsky, CEO, Memomi. About Walmart Walmart Inc. helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. About Memomi Memomi Labs Inc is a leading provider of cutting-edge technology to enhance virtual try-on user experiences through artificial intelligence, deep learning and augmented reality. Memomi helps customers virtually “try on” eyewear in real-time for a seamless, easy and fun omnichannel experience. In addition to the try-on experience, Memomi technology has created an accurate, easy measurement experience in-store once glasses are selected, leading to time savings for the customer and cost savings for the store. Memomi was founded in 2014 by Salvador Nissi Vilcovsky and Ofer Saban, experts in conceptualized solutions and interactive design.

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HEALTH TECHNOLOGY

Leading ACOs are Choosing Innovaccer’s ACO REACH Solution Suite to Improve Population Health and Advance Health Equity

Innovaccer Inc., | August 05, 2022

Innovaccer Inc., the Health Cloud company, announced the expansion of its Solution Suite for ACO REACH participants. With its ACO REACH Solution Suite, Innovaccer has taken its entire portfolio of solutions that several leading ACOs across the country use, to help New Entrant ACOs and High Needs Population ACOs accelerate their transformation and advance health equity. Since the initial launch of the ACO REACH Solution Suite in April, Innovaccer has rapidly expanded its client base to include new entrants such as UpStream, Florence Health, and many more organizations that are accelerating their transformation to value-based care. These organizations are leveraging Innovaccer’s end-to-end technology platform to build a unified data foundation, develop population health management strategies, and better engage physicians and patients. For example, UpStream chose Innovaccer as their technology partner to get a 360-degree patient view that provides actionable insights at the point of care to help improve outcomes, employ advanced analytics to assess and predict health risks to help keep patients out of the hospital, and use clinically contextual patient engagement throughout the care continuum to help improve chronic care management and the overall patient experience. “Traditionally, many practices don’t have the experience or resources to take on the financial risks associated with value-based care models, especially for older, higher-risk populations,” said Lucas Sahm, chief information officer at UpStream. “UpStream is deeply rooted in data, which makes partnering with Innovaccer a logical step for us because we speak the same language and have the same goal: to connect, curate, and make better use of healthcare data to improve patient outcomes, improve the patient experience, while also improving financial outcomes for providers.” Innovaccer’s ACO REACH Solution Suite brings technology and services together to help providers jump-start and excel at this new value-based model: the Innovaccer Health Cloud’s Data Activation Platform, Innovaccer’s industry-leading population health management solution, Innovaccer’s world-class population health analytics; and Innovaccer’s comprehensive SDoH solution for identifying, understanding, and mitigating social determinants—an absolute essential for supporting health equity, access to care, and community health. “Through ACO REACH, the CMS is paving the way for provider organizations to advance health equity through value-based care. To succeed with this new program, they need the right people, processes, and technologies to help develop, implement, and optimize their shared savings strategies. As a technology-enabled service, our enhanced ACO REACH Solutions Suite enables providers to identify and address SDoH factors, reach vulnerable populations with remote patient monitoring, identify relevant care gaps and utilization trends, predict obstacles, and assist providers and patients in optimizing outcomes. We’ve strived to include everything a provider could need in a technology-enabled solution to succeed as a REACH ACO.” Abhinav Shashank, cofounder and CEO at Innovaccer Innovaccer has a proven history of helping health organizations succeed under risk-bearing, value-based care models. Reach out to an Innovaccer representative today to get a demo of the Innovaccer® Health Cloud’s Data Activation Platform or to find out how we are helping provider partners like you with the tools they need to reach underserved patients, identify and address SDoH, and progress in the movement toward health equity. For more information, please visit https://innovaccer.com/accelerators/aco-reach. About Innovaccer Innovaccer Inc., the Health Cloud company, is dedicated to accelerating innovation in healthcare. The Innovaccer® Health Cloud unifies patient data across systems and care settings, and empowers healthcare organizations to develop scalable, modern applications that improve clinical, financial, and operational outcomes. Innovaccer’s solutions have been deployed across more than 1,600 care settings in the U.S., enabling more than 96,000 providers to transform care delivery and work collaboratively with payers and life sciences companies. Innovaccer has helped its customers unify health records for more than 39 million people and generate over $1B in cumulative cost savings. Innovaccer is the #1 rated Data and Analytics Platform by KLAS, and the #1 rated population health technology platform by Black Book.

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HEALTH TECHNOLOGY

Harris Williams Advises The CM Group on its Pending Sale to OPEN Health

Harris Williams | August 01, 2022

Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising The CM Group, a portfolio company of NaviMed Capital (NaviMed), on its pending sale to OPEN Health, a portfolio company of Astorg. The CM Group is a leading medical communications platform offering a set of integrated solutions to the U.S. domestic biotech and pharma industries. The transaction is being led by Paul Hepper, Nick Owens, Lucas Scholl, Rob Crampton and Gabby Struckell of the Harris Williams Healthcare & Life Sciences Group. “Investor interest in outsourced pharma commercialization services is driven by complex therapies becoming an increasing portion of new drug launches, declining access to physicians, and the increasing importance of directly reaching patient populations. Differentiated platforms such as The CM Group are benefiting disproportionally from these trends,” said Paul Hepper, a managing director at Harris Williams. “The combination of OPEN Health and The CM Group brings together two best-in-class commercialization businesses, with stellar reputations in the industry and an exciting opportunity to service leading pharmaceutical companies globally,” said Nick Owens, a director at Harris Williams. “Harris Williams was a phenomenal partner and exceeded our expectations throughout the transaction. The team’s knowledge of the sector and extensive buyer relationships led to an optimal outcome. We look forward to the next phase of growth with the OPEN Health and Astorg teams and are excited about building a global leader in pharma commercialization,” Daniel Leonard, CEO of The CM Group Grounded in science—and powered by the patient voice—The CM Group is an integrated healthcare agency of innovative and imaginative subject-matter experts dedicated to providing scientific and commercialization strategies and services to the life sciences industry. NaviMed is a Washington, D.C.-based private capital firm with over $400 million of assets under management, focused exclusively on the healthcare industry. NaviMed invests in fast-growing lower-middle market healthcare businesses that it believes are poised to benefit from the reform and technology innovation reshaping the healthcare industry. The firm focuses on healthcare services, healthcare IT, hospital products and pharmaceutical services businesses. NaviMed targets profitable private companies with up to $10 million of EBITDA and double-digit revenue growth. NaviMed’s senior investment team has a track record of value creation spanning, in the aggregate, dozens of investments and more than $11 billion of enterprise value created over the course of their combined careers. OPEN Health brings together deep scientific knowledge, global understanding, and broad specialist expertise to support its clients in improving health outcomes and patient wellbeing. OPEN Health is united as one flexible organization, harnessing the power of the collective to solve complex challenges. Astorg is a European private equity firm with over €17 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the U.S., providing them with the strategic guidance, governance and capital they need to achieve their growth plans. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Astorg has offices in London; Paris; New York; Frankfurt, Germany; Milan; and Luxembourg. Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany. Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi.Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

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HEALTHTECH SECURITY

Health Alliance Improves Outcomes and Reduces Costs Using CareSignal’s Deviceless Remote Patient Monitoring

CareSignal, Health Alliance | June 27, 2022

Health AllianceTM, the health plan of Illinois-based Carle Health, is leading the way for rising-risk populations by launching a remote patient monitoring program powered by CareSignal. This program is part of Hally® health, the member-facing telehealth app Health Alliance uses to give its members access to tools and resources for their well-being. The partnership between Health Alliance and CareSignal aims to reduce readmissions, reduce spending, and improve members’ experience while increasing health literacy and empowering members to better self-manage their chronic conditions. The partnership is serving shared Medicare and Commercial populations and is expanding to Carle Health’s Accountable Care Organization. CareSignal’s scalable remote patient monitoring technology sends evidence-based questions directly via phone call or text message to the member. Questions focus on the member’s health status and encourage adherence to their health management plan through reporting of symptoms and daily habits while monitoring changes in risk status. Indications of worsening symptoms can trigger real-time alerts to allow for intervention, including proactive health coaching and escalation of care. Health Alliance is currently prioritizing Chronic Obstructive Respiratory Disease congestive heart failure, hypertension, asthma, and post-discharge care, and is hoping to add additional populations. Health Alliance is also bolstering its care coordination team with CareSignal’s virtual care navigators enabling them to manage a larger member population without needing additional staff. VCNs are the first to intervene with members before escalating to the Health Alliance care coordination team and/or primary care physician. By handling routine review, education and scheduling tasks when needed, the VCNs enable the Health Alliance care coordination team to work at the top of their license. The program provides increased support for members without increased touch points from providers. “Our team selected CareSignal as the best fit for our Health Alliance remote patient monitoring strategy due to its clinically validated pathways, ability to scale, and ease of use for our members. We believe by adding remote patient monitoring to our population health services, we will improve quality of care and health outcomes, expand access to care management, reduce disparities in health outcomes, enhance the member experience, and reduce hospitalizations, ED visits, and readmission rates.” Margie Zeglen, MBA, FACHE, Vice President of Population Health at Health Alliance and Carle Health “The expansion of this relationship is a result of the clinical and strategic vision that Carle and Health Alliance teammates bring to our partnership,” said Blake Marggraff, CEO of CareSignal, a Lightbeam Company. “Given the ongoing, nationwide staffing challenges that healthcare organizations face, the CareSignal team is particularly proud to be able to support Health Alliance with both the technology and clinical resources required for success. I look forward to serving even more individuals’ clinical needs while simultaneously serving a terrific client-partner.” About Health Alliance Based in Champaign, IL, Health Alliance operates in Illinois, Iowa, Indiana, Ohio, and Washington with additional licenses in Nebraska and Missouri. Health Alliance is part of Carle Health, an integrated system of healthcare services, which includes a five-hospital system as multi-specialty physician groups, as well as Carle Illinois College of Medicine and the Stephens Family Clinical Research Institute. In Illinois, Health Alliance offers employer group plans, individual plans, Medicare plans, State of Illinois Employee plans, and State of Illinois Retiree plans through Total Retiree Advantage Illinois. In Iowa, Health Alliance offers employer group plans and Medicare plans. In Washington, we offer Medicare plans and public individual plans. And in Indiana and Ohio, Health Alliance offers Medicare plans. About CareSignal – a Lightbeam Health Solutions Company CareSignal offers Deviceless Remote Patient Monitoring® which is specifically designed for value-based care by leveraging real-time, self-reported patient data and artificial intelligence to produce long-term patient engagement while identifying clinically actionable moments for proactive care delivery. Together, Lightbeam and CareSignal align best-in-class population health capabilities with proven remote engagement and monitoring solutions serving more than 42 million patient lives across the United States. Lightbeam’s vision is to shine a light on health data using analytics, and to provide the insight and capabilities healthcare clients need to ensure patients receive the right care at the right time. Learn more about solutions specific to your organization and population by visiting our website or trying a self-guided demo.

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Pharmaceutical companies face complex issues that grow more challenging by the day. Healthcare reform and changes in technology, government policy, and consumer expectations are revolutionizing relationships with key stakeholders and impacting operations in unforeseen ways.

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