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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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

AngelEye Health Introduces NICU Technology Conversion Team

AngelEye Health | September 08, 2022

AngelEye Health, a leading provider of family engagement solutions for hospital neonatal and pediatric intensive care units announced the introduction of the company's inaugural NICU technology conversion team. Comprised of some of the healthcare organization's most seasoned onboarding specialists, the unit will help new customers navigate the process of converting from existing solutions to the AngelEye CameraSystem™. Members of the dedicated integration team include project managers, clinical specialists, and systems analysts. "Exemplary customer support is the cornerstone of the AngelEye Health service offering and has been since day one. As our team continues to quickly add new hospital partners who are converting from other NICU camera solutions, we realized that some of their onboarding needs were unique. We saw an opportunity to proactively ensure that we had the resources in place to address any technical and clinical needs they may have. We are proud to introduce the industry's first NICU technology conversion team, purpose-built to support these transitions every step of the way." Christopher Rand, CEO of AngelEye Health Patient and family engagement technology for hospital settings has been growing in acceptance as it presents NICUs and other pediatric units with additional opportunities to support families during their child's time in the hospital. It also fosters an instant and lasting bond with family members even when they can't be at the hospital. In response to this need, AngelEye developed a state-of-the-art CameraSystem™, which brings live-streaming video of the patient to family members anywhere, anytime, on any device. Web-camera technologies provide families with a unique opportunity to connect with their hospitalized children through interactive, real-time technologies. Thus, a cost-efficient pediatric webcam program like AngelEye Health's has the potential to improve the quality of life for participating families by relieving anxiety and cultivating a distant bonding experience. While the AngelEye onboarding process is always thorough and well-executed, customers who are already familiar with and reliant on cameras in their NICU can now benefit from a specialized level of solution migration support that is unique to their situation. As AngelEye continues to add conversion customers to its portfolio of hospital partners - and at an increasingly accelerated rate - introducing a team of professionals who are well versed in the technology conversion process can add a layer of technical and clinical support to ensure that the transition is seamless and the hospital's NICU care team is up and running on the system quickly and with minimal downtime. Arkansas Children's Hospital was one of AngelEye’s first NicView conversion projects which involved 90 cameras. Since day one of the technology migration, their hospital team has benefited from the cohesive support from AngelEye’s team of project managers, clinical specialists, and systems analysts, each dedicated to ensuring that the onboarding process was as streamlined and painless as possible. "AngelEye Health has been very accommodating and willing to work with us and tailor the entire camera system conversion to meet our needs," said Luann Jones, DNP, APRN, NNP-BC, NE-BC, formerly the neonatal services director, Arkansas Children's Hospital. "Every NICU is in a different place at different times, and there's not really a one size fits all approach. Their team was willing to collaborate with us as an institution and as a unit to figure out what really worked best to meet our needs." For hospitals and health systems interested in learning more about what their own camera system conversion might look like and how the AngelEye NICU technology conversion team can support them through every step of the process, please read the Top 10 Questions from Conversion Partners or schedule a call with one of AngelEye's Account Managers. About AngelEye Health AngelEye Health has a deep understanding of the value that both family engagement and family-centered care bring to the neonatal and pediatric intensive care environment. We provide a complete HIPAA-compliant platform to integrate parents simply and seamlessly into the child's care team. Our approach has a proven, positive impact on the quality of the family experience, care delivery workflows for the dedicated bedside team, and patient outcomes. From admission to discharge, AngelEye positively impacts staff, families, and patients along the journey and ultimately to a successful transition home. From bonding, patient progress and treatment communication, feeding, and focused education, AngelEye offers a portfolio of solutions for supporting the highly specialized needs of the NICU and PICU today and of the future. The company was recently named to the Inc. 5,000 listing of America's Fastest-Growing Private Companies.

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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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HEALTHTECH SECURITY

Intuit to Acquire Financial Health Startup SeedFi

Intuit | December 02, 2022

Intuit the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced it has entered into an agreement to acquire SeedFi, the partner behind Credit Karma’s Credit Builder1, which helps low, or no-credit borrowers build credit while saving money, all for free. Credit Builder offers a line of credit and a secured savings account enabling members to build their credit while building up savings. By combining SeedFi’s Credit Builder technology with Credit Karma’s long standing relationships with credit bureaus and others in the credit ecosystem, Intuit will be able to move with greater speed and scale to help Credit Karma members make financial progress. Late last year, Credit Karma entered into a partnership with SeedFi to offer Credit Builder to its members, enabling them to make regular payments, starting with as little as $20 per month or $10 per paycheck. By reporting these payments to the credit bureaus, members took steps toward improving their financial health. Through this partnership, members increased their score by an average of 21 points in as little as 30 to 45 days2 and built up over $10 million in savings. This acquisition will enable Credit Karma Money to continue to build on that momentum and help put more members on a path to financial security. “Credit Karma Money was built to change consumers’ relationship with money and help them develop responsible financial habits, like staying on top of their bills and spending within their means. With Credit Builder, we are able to differentiate ourselves as one of the best accounts for building credit. We have long standing relationships with credit bureaus and others in the credit ecosystem, and SeedFi has built great technology, so when combined, we will move even faster and build products to help more members, including those who need it the most.” Poulomi Damany, SVP and GM for Credit Karma Money and Tax A recent study from the Consumer Financial Protection Bureau showed that nearly three-quarters of Americans with no emergency savings have credit scores below 660. The correlation between low credit scores and lack of emergency savings persists over time, and SeedFi takes that problem head-on. Similar to Credit Karma, SeedFi’s mission is to break the cycle of debt and help Americans realize their financial potential. “We have already been working with the Credit Karma Money team for over a year to help members build their credit score and have been impressed with how Credit Karma’s mission comes through in everything the company does. SeedFi has a similar mission to help consumers become financially fit, so joining forces just makes sense,” said SeedFi co-founder and CEO Jim McGinley. “Together, leveraging Credit Karma’s resources and scale, we will be able to accelerate the momentum of Credit Builder and SeedFi’s technology capabilities to help more consumers improve their financial health.” The transaction between Intuit and McBurberod Financial, Inc. which does business as SeedFi, is subject to closing conditions, and is expected to close in the coming months. Upon close, SeedFi will become part of Intuit’s Credit Karma business. The transaction is not expected to have a material impact on Intuit’s operating results for the full fiscal year 2023. Terms of the transaction have not been disclosed. Intuit Ventures was an investor in SeedFi’s last financing round. About Intuit Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With more than 100 million customers worldwide using TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us for the latest information about Intuit, our products and services, and find us on social. About Credit Karma Founded in 2007 by Ken Lin, Credit Karma, an Intuit company is a consumer technology company with nearly 130 million members in the United States, U.K. and Canada, including almost half of all U.S. millennials. While best known for pioneering free credit scores, the company’s members turn to Credit Karma for everything related to their financial goals, including identity monitoring, applying for credit cards, shopping for loans auto insurance, savings accounts and now checking accounts through our bank partner, MVB Bank, Inc., Member FDIC — all for free.

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