SCL Health cuts collections costs by 26% with patient collections tech

SCL Health | July 01, 2019

SCL Health is a nonprofit healthcare organization that operates eight hospitals and more than 100 service centers. With net revenues of $2.54 billion, SCL provides more than $222 million a year in community benefit in Colorado and Montana. SCL Health had many decentralized sites and had recently merged with another large health system and needed to consolidate and streamline patient pay recovery. “Until that point, we hadn’t utilized a vendor to help with management of patient collections, and didn’t have a strong strategy in place to optimize the process,” said Sue Bouck, senior director, customer service and self pay, at SCL Health. “We employed several different collections agencies, and had no insight into how these vendors were performing.”

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FUTURE OF HEALTHCARE

Endonovo Therapeutics Signs Agreement with NAMSA to Develop Reimbursement Strategy for Endonovo Medical Products

Endonovo Therapeutics, Inc. | April 26, 2022

Endonovo Therapeutics, Inc. announced an agreement with NAMSA – a leading Global Contract Research Organization and medical device reimbursement specialist – as strategic advisors to develop in-patient and out-patient medical reimbursement strategies for Endonovo’s flagship PEMF product SofPulse®. “Engaging NAMSA as strategy advisors to develop and apply proven medical device reimbursement strategies is a huge advantage for Endonovo and our shareholders, according to Endonovo CEO Alan Collier. “NAMSA is a proven medical device development partner with relevant therapeutic know-how that is critical when seeking acceleration of reimbursement efforts and commercialization objectives,” he pointed out. NAMSA was founded in 1967 as a scientific research company and later transitioned into a Global CRO and Medtech (Medical Technologies) reimbursement specialist. Today, it has 1,000 strategic associates who provide Medtech reimbursement advisory expertise to more than 300 clients in 15 global regions. NAMSA offers a full continuum of reimbursement services for medical technologies. Their reimbursement consultants provide: payer relations, medical policy research, coverage advocacy, Healthcare Common Procedure Coding System Current Procedural Terminology code analysis/applications and health economic analysis. “Our team strives to bring impactful products like the Endonovo SofPulse into higher adoption. With this technology, and its favorable economics, there are multiple opportunities ahead for serving populations in need. We will work together with the Endonovo team to improve market access for this novel device in the very near term.”, Joseph Sierra, Director, Reimbursement Consulting, North America, NAMSA NAMSA provides strategic guidance and tactical support to fast-track medical device commercialization and to make an immediate impact on patient healthcare worldwide. NAMSA’s services have grown to include regulatory, reimbursement and quality consulting as well as clinical research. These additions have helped NAMSA to become the pre-eminent 100% medical device-focused Global CRO that offers proven strategic solutions throughout the full development continuum. NAMSA is the only US FDA ASCA accredited medical device biocompatibility laboratory in the world. This allows medical device sponsors to fast-track commercialization efforts, while achieving time and cost efficiencies in every major market of the world. Collier stated: “We are fortunate to be working directly with Joseph Sierra, at NAMSA. With over 10 years of reimbursement experience, and his proven track-record in developing successful medical device reimbursement strategies is exemplary and will be helpful in developing the path toward reimbursement for our main product SofPulse®. Joseph is an adjunct instructor at USC Masters of Health Administration Program, and his prior professional work includes successful stints with NeoFect USA and Medtronic Ltd. where he demonstrated a record of success leading roles in reimbursement programs, analysis, and strategies for their medical devices.” NAMSA’s reimbursement expertise and track-record in the introduction and adoption of medical devices into multiple medical specialties includes: orthopedics, cardiovascular surgery, general surgery, plastic surgery, neurology, robotic surgery and wound care. Collaborating with NAMSA on global reimbursement allows Endonovo to explore reimbursement for the U.S. medical markets as well as the European Union market adoption through SofPulse® medical CE Mark. Additional target markets would be Taiwan and other Asian countries. About Endonovo Therapeutics Inc. Endonovo Therapeutics is a commercial-stage developer of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives. The Company's current portfolio of commercial and clinical-stage wearable Electroceuticals® therapeutic devices addresses wound healing, pain, post-surgical pain and edema, cardiovascular disease, chronic kidney disease, and central nervous system disorders, including traumatic brain injury, acute concussions, post-concussion syndrome and multiple sclerosis. The Company's noninvasive Electroceutical® therapeutic device, SofPulse®, which uses pulsed short-wave radiofrequency at 27.12 MHz, has been FDA-cleared and CE marked for the palliative treatment of soft tissue injuries and post-operative pain and edema. It also has CMS national coverage for the treatment of chronic wounds. The Company's current portfolio of preclinical-stage Electroceuticals® therapeutic devices addresses chronic kidney disease, liver disease, non-alcoholic steatohepatitis cardiovascular and peripheral artery disease and ischemic stroke. The Company's noninvasive, wearable Electroceuticals® therapeutic devices work by restoring key electrochemical processes that initiate anti-inflammatory and growth factor cascades necessary for healing to occur.

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HEALTHTECH SECURITY

Forescout Acquires CyberMDX to Expand Healthcare Cybersecurity Focus

Forescout Technologies | February 02, 2022

Forescout Technologies, the leader in Active Defense for the Enterprise of Things, today announced its acquisition of CyberMDX, a leading healthcare cybersecurity provider delivering visibility and threat prevention for medical devices and clinical networks. The acquisition further strengthens Forescout’s position as the industry leader in out-of-the-box support for the broadest set of connected device types across IT, IoT, OT and IoMT devices. “Forescout is seeing rapid growth in healthcare, a market the company has always focused attention on from a technology and sales perspective. Cybersecurity for IoMT, much like cybersecurity for OT devices, requires specific expertise and technologies. We are pleased to have the CyberMDX team join Forescout as we continue delivering new capabilities on our market-leading platform and grow our R&D center.” Wael Mohamed, Chief Executive Officer of Forescout Forescout is recognized by many of the world’s largest organizations as the leader in device visibility and control, ensuring customers can see all the devices connected to their networks, continuously and in real-time, and then take automated action to mitigate risks. CyberMDX offers a leading solution for visibility and risk management of IoMT devices. Together, Forescout and CyberMDX have a powerful platform that delivers an easy-to-use, scalable and agentless approach to device visibility, classification, threat detection and incident response focused on IoMT devices to better serve healthcare organizations. “CyberMDX enables hospitals to provide quality care by securing and protecting the systems and devices they rely on every day to treat patients and save lives,” said Amir Magner, President and Co-Founder of CyberMDX. “We are thrilled to join the Forescout team where our innovation can continue to make a profound difference to healthcare organizations around the world.” Broad coverage across all device types is essential as larger organizations, such as healthcare, almost always have a wide variety of device types, including IT and a rapidly expanding number of IoT devices, in addition to IoMT and OT devices. In 2018, Forescout acquired Security Matters, a leading providing of solutions for visibility and risk management for OT systems, which are also known as industrial control systems (ICS). Forescout has the largest number of deployments of OT infrastructure protection solutions globally, with major deployments in critical infrastructure sectors such as energy and utilities. Forrester recently recognized Forescout in its inaugural Industrial Control Systems (ICS) Security Solutions Wave, 2021 as the top vendor for market presence for product revenue, total number of customers and deal size. CyberMDX, which was recognized as a Medical Device Security Solution Leader in The Forrester New Wave™: Connected Medical Device Security, Q2 2020, further demonstrates Forescout’s commitment to providing organizations with the most comprehensive solution across all device types. Recently, Forescout announced that its platform discovered 66% more devices than originally expected at the University Health Network (UHN), a group of four hospitals in Toronto, Canada that includes The Toronto General Hospital, which Newsweek ranked in 2021 as the 4thbest hospital in the world. Among many benefits, UHN is leveraging the Forescout platform to “deal with the exponential increase in the number of IoT devices and ever-increasing volume of sophisticated threats, including ransomware,” according to Kashif Parvaiz, Chief Information Security Officer, at UHN. With the addition of CyberMDX’s solution, Forescout customers will be able to gain deeper visibility and risk management of their IoMT and medical devices. Over the past 20 years, Forescout has built unique strength in device intelligence and network fabric technology for device discovery and classification. The company’s Device Cloud database contains over 15 million device fingerprints and ensures Forescout's customers automatically receive highly specific, out-of-the-box device classification capabilities from the Forescout platform for millions of different types of devices. About Forescout Forescout Technologies, Inc. actively defends the Enterprise of Things by identifying, segmenting and enforcing compliance of every connected thing. Fortune 1000 companies trust Forescout as it provides one of the most widely deployed, enterprise-class platforms at scale across IT, IoT, OT and IoMT managed and unmanaged devices. Forescout arms customers with extensive device intelligence, data and policies to allow organizations across every industry to accurately classify risk, detect anomalies and quickly remediate cyberthreats without disruption of critical business assets. Don’t just see it. Secure it.

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FUTURE OF HEALTHCARE

Modivcare Announces Acquisition of Guardian Medical Monitoring

Modivcare Inc. | May 19, 2022

Modivcare Inc. a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, announced the Company’s Remote Patient Monitoring Segment has acquired Guardian Medical Monitoring, LLC from its parent company, Guardian Alarm. Guardian Medical Monitoring is a leading provider of remote patient monitoring solutions to Managed Care Organizations and state Medicaid payors including Personal Emergency Response Systems and medication management. GMM’s RPM platform currently monitors approximately 50,000 aging and chronically ill patients on behalf of their respective payors. “Remote patient monitoring is essential to Modivcare’s mission to connect patients to care through our integrated supportive care platform. Our comprehensive remote patient monitoring offering allows patients to safely age in their homes with technology-enabled connectivity to care which increases patient engagement and reduces costs. We are excited to accelerate the growth of Modivcare’s RPM Segment with the acquisition of GMM, and we are excited to welcome the GMM team to Modivcare.” Daniel E. Greenleaf, Modivcare’s President and Chief Executive Officer Jason Anderson, President, Modivcare Home added, “Guardian Medical Monitoring is a complementary acquisition for Modivcare’s RPM Segment, strengthening our customer relationships and expanding our service footprint across key states. Additionally, this acquisition provides an opportunity to expand our E3 engagement platform across a larger base of members and payors. Modivcare’s E3 platform helps our partners reduce gaps in care and address social determinants of health by engaging, educating, and empowering members using our proprietary platform.” About Modivcare Modivcare Inc. is a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions for public and private payors and their patients. Our value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. We are a leading provider of non-emergency medical transportation, personal care and remote patient monitoring.

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MEDICAL DEVICES

MedTech Company STENTiT Raises €1.8 million in Seed Round

STENTiT | April 25, 2022

STENTiT, a medical device company bringing a novel class of regenerative endovascular implants for the treatment of cardiovascular diseases, has closed a €1.8 million seed investment round. The funding facilitates further pre-clinical development and batch production of a regenerative stent (see video) for peripheral indications. The investment was made by Dutch investors NextGen Ventures, Brabant Development Agency and the Ten Cate Investment Company. STENTiT is an emerging player in the field of regenerative medical devices, offering a breakthrough solution for cardiovascular interventions by developing first-of-its-kind endovascular implants with regenerative capacity. Using a catheter-based approach, these devices provide the ability to restore arteries without the need for an invasive surgical intervention. The aim is to ultimately restore the affected blood vessel from the inside out to provide a lifelong solution. As a first target indication, the company wants to improve the treatment of critical limb ischemia. This progressive form of peripheral artery disease affects almost 5 million people in the EU and the US in which the blood flow to the foot is severely being compromised. Unfortunately, current treatment options are ineffective, resulting in amputation within 6 months in 40% of these patients. With the regenerative stent, blood flow to the foot will be maintained by securing vascular patency using temporary mechanical support and improving long-term efficacy by inducing vascular repair, thereby preventing thousands of amputations each year. "We are excited to receive the support of these esteemed Dutch early-stage investors. This financing round validates our vision to bring a novel class of implants that can rebuild the affected blood vessels. We are looking forward taking the next steps getting our regenerative stents ready for clinical trials. With our first product, we aim to treat millions of patients suffering from peripheral artery diseases, and save their limbs from amputation." Bart Sanders, CEO of STENTiT About STENTiT STENTiT is a medical device spin-off company from the Dutch Eindhoven University of Technology, focusing on the development of regenerative endovascular implants. These bioresorbable devices trigger a natural healing response by the circulating blood cells, in which the implant is being replaced by new vascular tissue to restore the artery from the inside-out. Since the establishment of the company, STENTiT has received broad international recognition and awards for its high-potential approach, covering world leading stages. As the company is currently going through the next translational phases, STENTiT is on its way to fulfill its ambition to become the new standard in endovascular treatment, providing a life-changing solution for millions of cardiovascular patients around the world.

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Spotlight

The need to partner with other sectors such as employment, housing, education, and transportation to address the social determinants of health, and with new sectors such as retail, banking, and technology giants to improve data and platform interoperability.

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