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.
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.
Alegeus and HealthSherpa | July 19, 2022
Alegeus, the market leader in healthcare payment solutions, and HealthSherpa, the leading enrollment platform for individual ACA health coverage, have outpaced the industry in individual coverage health reimbursement arrangements since announcing an integration partnership in the summer of 2020. With updates to their partnership in 2022, both companies are poised to increase their ICHRA enrollments even faster. HealthSherpa, which has seen more than 10X growth in ICHRA pipeline, has enrolled more than three million individuals on its platform in just the last year.
ICHRAs, which were launched at the start of 2020, allow employers to reimburse employees for individual coverage insurance premiums in place of offering them a traditional group-sponsored health plan. ICHRAs can also be used by employees to pay for out-of-pocket healthcare expenses. Organizations administering consumer-directed health benefit programs can set up an ICHRA with Alegeus, and then HealthSherpa helps ICHRA-eligible employees search for and enroll in the best on-exchange and off-exchange individual health plans. This integration bolsters the health reimbursement arrangement (HRA) experience from Alegeus and gives third-party administrators and health plans a strategy for increasing employer and employee participation in health benefit accounts.
“We’re excited about the growing demand our partners have seen for ICHRA since announcing our integration partnership with HealthSherpa,” said Mark Waterstraat, chief customer officer, Alegeus. “Our joint solution is helping employers to deliver quality and cost-effective benefits quickly and efficiently to their employees. While ICHRAs can offer these through employer-defined contribution and better-fit individual coverage plans, they are still new and require a considerable amount of education and awareness. Through this partnership, our efforts are resonating, as evidenced by growing market demand.”
“ICHRAs are a great option for a large and growing number of employers and their employees, and we’ve seen many of our client organizations begin reaping their benefits,” said Ross Honig, president, OCA. “Working with Alegeus and HealthSherpa has allowed OCA to market our ICHRA solution as a “one-stop” product that is seamless and easy to use for brokers, employers, and their employees.”
“Millions of consumers have enrolled in health insurance through HealthSherpa and experienced the increasing appeal of individual coverage. With our new off-exchange options, employers and brokers alike have more options for employees looking to make the transition away from group-sponsored health insurance. ICHRA is changing the dynamic of the relationship between employers and employees on the critical question of health insurance, and we’re thrilled to partner with Alegeus to help employers understand the benefits and communicate them with their employees.”
George Kalogeropolous, CEO, HealthSherpa
Alegeus and HealthSherpa recently presented a webinar, “The (Present and) Future of ICHRAs,” showcasing how to simplify the administration of ICHRA benefits and make it easier for consumers to find the care and coverage that meets their needs.
HealthSherpa builds technology that increases access to health care. We provide end-to-end solutions for consumers, insurance carriers, and agents, delivering a superior ACA marketplace experience to fulfill our mission of connecting people to health coverage under the Affordable Care Act. The HealthSherpa Marketplace, our flagship health insurance enrollment platform, services more than 45,000 agents, 38 carriers, and 9 million consumers.
With more than 25 years of growth and innovation, Alegeus is the market leader in SaaS-based benefit funding and payment solutions. Our highly flexible, white-label platform powers account-based benefit programs such as HSAs, FSAs, HRAs, COBRA, wellness incentives, lifestyle benefits and beyond. We deliver exceptional user experiences and differentiated capabilities that help our partners strengthen their product offerings, operate more efficiently, and unlock their full growth potential. Our partnerships with the industry’s leading health plans, third-party administrators, financial services and benefit solution providers give Alegeus unparalleled reach in the market, with access to more than 100 million commercially insured Americans. And our unique partnership model empowers our clients to achieve outsized results – growing their programs at a rate that is 3-4X the market, and with the highest NPS scores in the industry. We never compete with our clients in the market – we win when they win. Alegeus is headquartered in Waltham, Mass., with operations centers in Orlando and Bangalore, and a large remote workforce.
Honeywell | May 27, 2022
Honeywell announced the signing of a non-binding memorandum of understanding (MoU) with Narayana Hrudayalaya Limited to identify, assess and collaborate on opportunities for the latter's digital transformation journey. This will enable Narayana Health to offer technology-driven, affordable and accessible healthcare for all. The MoU is subject to definitive agreements to be executed between Honeywell and Narayana Health.
"These are times of great promise and even greater opportunities in healthcare innovation. At Honeywell, we recognize this and have pivoted towards the development of technologies that will shape the future of healthcare delivery. The MoU with Narayana Health – one of India's foremost healthcare service providers – offers us an opportunity to create a strategic technology development roadmap that will eventually transform India's healthcare industry," said Suresh Venkatarayalu, Chief Technology Officer, Honeywell.
"Sensors and digital technology will disrupt health care delivery. Narayana Healthcare is delighted to work with Honeywell to develop digital technologies for making health care safer, more accessible, and more affordable," said Dr. Devi Prasad Shetty, Chairman and Executive Director, Narayana Healthcare.
Honeywell's Advanced Sensing Technologies (AST) healthcare business builds on the company's global leadership in sensors to offer devices and software for hospitals, clinics and elderly care facilities to improve communication, collaboration and coordination of clinical care.
"The pandemic made it abundantly clear that healthcare organizations need technology that can be seamlessly integrated into existing systems and processes to streamline error prone tasks, enhance patient experience, and improve organizational agility," said Robert Robinson, Vice President and General Manager, Advanced Sensing Technologies Healthcare, Honeywell.
Based on the terms of the MoU, Honeywell and Narayana Health will work towards co-innovation and introduction of new products, establish technology development centers, co-create joint capabilities in technology development and research, and undertake the development of fire safety codecs that ensure an end-to-end life safety system to make hospitals safer. As a technology partner, Honeywell will also help enhance and optimize Narayana Health's digital processes and offer training to its employees.
The healthcare industry is continuously evolving to keep up with increasing regulatory pressures, while maintaining an environment where patients and staff feel safe. COVID-19 highlighted the need for bringing efficiencies in healthcare delivery to enable fewer personnel to do more onsite. The growth in telemedicine also opened newer avenues for hospitals to manage patient care. Healthcare providers often struggle with developing the right approach to stay ahead of these changes.
To help meet some of these challenges, last year Honeywell launched its Real-Time Health Monitoring System (RTHMS). This is a smart edge-to-cloud communication platform for remote and real-time patient monitoring that acts as a bridge between caregiver and patient. This offering integrates hardware and software to improve care delivery, enhance healthcare worker productivity, and enable process efficiency. By digitizing and automating critical tasks, RTHMS can reduce hospital administrative tasks by 35%.1
"Narayana Healthcare has made remarkable progress in using technology to improve clinical outcomes and increase healthcare delivery efficiency. Honeywell's sensor-based applications will complement our efforts in real-time patient monitoring and fire safety, raising the bar for others to meet,"
Dr. Emmanuel Rupert, Managing Director and Group Chief Executive Officer, Narayana Hrudayalaya Limited
Honeywell has a robust portfolio of healthcare technologies – from a patient's first visit, to diagnosis, and returning home from care, Honeywell has the technologies to help healthcare providers increase productivity, efficiency, and shape the future of their organizations.
Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
FUTURE OF HEALTHCARE
Astorg and Amulet | July 18, 2022
Astorg and Amulet Capital Partners announced that they have completed the previously announced transaction whereby Astorg has acquired OPEN Health, a leading global provider of scientific communications and market access services to the pharmaceutical industry.
Established in 2011 and with more than 1,000 employees in 15 locations and six countries, OPEN Health leverages its extensive scientific knowledge and relentless focus on quality to deliver best-in-class scientific communications, health economics and outcomes research and market access services for more than 170 life sciences customers. OPEN Health’s existing management team will continue to lead the organization, building on a strong track-record of organic growth and strategic acquisitions.
“The past three and a half years have been the most successful, exciting years in our company’s history, and we are appreciative of the support and partnership Amulet has provided over the course of our relationship. We are eager to work with the Astorg team as we continue expanding our capabilities and product offerings to deliver best-in-class scientific communication services to our custome
Rob Barker, CEO of OPEN Health
“We are thrilled to officially welcome OPEN Health to the Astorg family and look forward to working with Rob and his talented team in continuing to build a global leader in the medical affairs and market access space,” said Judith Charpentier, Partner and Head of Healthcare at Astorg. “OPEN Health’s industry-leading expertise is only becoming more important for today’s pharmaceutical products, and we see a number of opportunities to further support the company’s diverse and growing customer base.”
“Our investment in OPEN Health embodies Amulet’s comprehensive value creation approach: we partner with exceptional management teams to build industry-leading businesses in the most attractive subsectors of healthcare,” said Ramsey Frank, President and Managing Partner of Amulet. “We are pleased to complete this transaction and are confident OPEN Health will continue to experience continued growth and success in partnership with Astorg.”
About OPEN Health
OPEN Health brings together deep scientific knowledge, global understanding and broad specialist expertise to support our clients in improving health outcomes and patient wellbeing. We are 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 US, 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, Milan and Luxembourg.
About Amulet Capital Partners, LP
Amulet Capital Partners, LP is a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in companies. Amulet Capital Partners focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size generally between $25 million to $150 million.