Six Telemedicine Concerns Plaguing Health Industry

Managedhealthcareexecutive | April 17, 2020

The use of telemedicine is growing rapidly among hospitals and physicians across the country. It promotes better patient care and has greater access to medical services. Telemedicine also promises to empower consumers with more information and control over their healthcare decisions than ever before. According to a report, 67% of patients mentioned using telemedicine has significantly increased their satisfaction with medical care. From presenting providers with a list of options for where and how they can treat their patients, telemedicine is the harbinger of new opportunities, but its implementation also carries certain concerns. Listed below are few telemedicine concerns that you’ll want to be proactive in identifying and resolving for successfully implementing telemedicine in your healthcare practice.

Spotlight

Jonathan Norris, Managing Director for Healthcare at Silicon Valley Bank provides insights from the latest Healthcare and Exits report including VC fundraising, investment into companies, and M&A and IPO trends.


Other News
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.

Read More

HEALTH TECHNOLOGY, MEDICAL DEVICES

19Labs and MOH Launch Historic Telemedicine Project to Transform Healthcare in Guyana

19Labs | December 20, 2022

In cooperation with the Ministry of Health and the Georgetown Public Hospital Corporation a telemedicine pilot program with GALE eClinics was launched in four remote areas of Guyana. "We have reached a milestone and begin a journey that has the potential to transform health." Dr. Leslie Ramsammy, GPHC Board Chairman During the Telemedicine Launch, 19Labs CEO, Ram Fish, joined Guyana's Health Minister, Dr. Frank Anthony, in Masakenari, or as it is better known locally, Gunns Village. They were welcomed by the village Toshao, Paul Chekema, and the village residents. Using the newly installed eClinic system, Gunns was able to connect to the Georgetown Public Hospital and the three other villages that form part of this pilot program. The program's purpose is to provide equitable healthcare to all of Guyana's citizens. This keeps in line with the vision of Guyana's President, Dr. Ali, of creating a 'world-class' healthcare system for Guyana. Dr. Ramsammy, began the launch by saying: "Our ambition is to improve health care for all of our people, and as we understand that we can't put…a Georgetown public-level hospital in every village, we believe that citizens, in every part of the country, could get access to basic healthcare…We have reached a stage this morning, where we could launch Guyana's national telemedicine program." One of the major challenges in achieving such a vision is the remote locations with the lack of connectivity. Gunns Village is a 5-day boat and land trek during the rainy season when planes cannot use the local airstrip. 19Labs is proud to provide a solution as the four health posts that are part of this pilot are now connected to the world through the internet over satellite. With the GALE eClinic Telemedicine units, even the most isolated village now has access to top-quality medical care. In a very short time, Gunns went from an area that had no connectivity, electricity, and little medical equipment, to the ability to instantly connect to the healthcare and staff of the Georgetown Public Hospital. Dr. Anthony said: "With the technology we have now installed, this particular health center has a full complement of internet-enabled devices which we will…be able to do ultrasounds, ECGs, and a whole host of other things to help to assess the patient." GALE eClinics replicate the full clinical experience providing and filling the need for both general health and specialty care including prenatal, OBGYN, maternal, cardiac, and chronic condition management. Our partnership goes beyond a one-time fix. The local communities now have access to more opportunities. Ram Fish said: "This goes even beyond just health care, [this transforms communities]. The equity that it brings to us also opens the eyes of people and places to different cultures, and different ways of doing things…It's about empowering with technology local young women and men who really become the centers of the communities beyond just health…This is the beginning of a journey…We will expand and work together to really make healthcare equitable across Guyana and beyond." About 19Labs 19Labs is the creator of GALE, Next Generation Point-of-Care platform for pharmacies, schools, and rural communities. GALE brings together cutting-edge diagnostic technologies from industry leaders like Zoom, Elo, Amwell, Eko, Samsung Mobile, MIR, Omron, Viasat, and many others in one smart, efficient, and cost-effective platform. It was designed from the ground up to be operated by non-healthcare professionals, in locations with limited infrastructure and optimized for low bandwidth and intermittent connectivity.

Read More

FUTURE OF HEALTHCARE

Skylight Health Announces Series A Preferred Stock Cash Dividend

Skylight Health Group | December 14, 2022

Skylight Health Group Inc. a healthcare platform combining technology and analytics focused on transitioning patients into value based care to drive better health outcomes and experiences in the United States, announced that its Board of Directors has authorized, and the Company has declared, a dividend on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares for the month of January 2023. The Series A Preferred Shares trade under the “SLHGP” stock ticker symbol. In accordance with the terms of the Series A Preferred Shares, the Series A dividend will be payable in cash in the amount of $0.1927 per share on January 20, 2023 to the shareholders of record of the Series A Preferred Stock as of the dividend record date of December 30, 2022. The Company also wishes to update details of the Company’s previously announced shares for debt on September 15 and 16, 2022. The Company will settle a total of $438,400 in debt by issuing an aggregate of 626,286 common shares to the creditors at a deemed price of $0.70 per common share, in satisfaction of the debt. About Skylight Health Group Skylight Health Group is a healthcare services and technology company, working to positively impact patient health outcomes. The Company operates a US multi-state primary care health network comprised of physical practices providing a range of services from primary care, sub-specialty, allied health, and laboratory/diagnostic testing. The Company is focused on helping small and independent practices shift from a traditional fee-for-service model to value-based care (“VBC”) through tools including proprietary technology, data analytics and infrastructure. In an FFS model, payors (commercial and government insurers) reimburse on an encounter-based approach. This puts a focus on the volume of patients per day. In a VBC model, the providers offer care that is aimed at keeping patients healthy and minimizing unnecessary health expenditures that are not proven to maintain the patient’s well-being. This places emphasis on quality over volume. VBC will lead to improved patient outcomes, reduced cost of delivery and drive stronger financial performance from existing practices.

Read More

DIGITAL HEALTHCARE, MEDICAL DEVICES

Swisslog Healthcare Elevates Cory Kwarta to CEO

Swisslog Healthcare | December 19, 2022

Swisslog Healthcare, a leading supplier in healthcare technology solutions of both medication management and transport automation, has appointed Cory Kwarta as its CEO. Kwarta, who was appointed as CEO of the Swisslog Healthcare – TransLogic division earlier this year, is now entrusted to oversee the global organization, guiding both the company’s TransLogic® and Medication Management divisions. “Since I started at Swisslog Healthcare, my goal has always been to help improve efficiencies in the healthcare industry. As CEO of the company, I will remain dedicated to our organization’s commitment of helping our customers and partners provide the highest quality healthcare.” Cory Kwarta Cory Kwarta was also recently named as a member of Swisslog Healthcare’s Board of Directors. The move came as a result of Kwarta’s recent prior promotion to CEO of Swisslog Healthcare – TransLogic and his 15 years of service with the organization. Kwarta has a bachelor’s degree in systems engineering from the United States Military Academy at West Point and a master’s degree in business administration from the University of Denver. Swisslog Healthcare’s TransLogic division works with healthcare facilities to develop custom-designed pneumatic tube systems which automate their needs to transport materials from station to station. The Medication Management division of Swisslog Healthcare assists healthcare facilities with automating and managing the pharmaceutical workflow, including preparation, patient-specific dosing, delivery, and storage. Both divisions deliver operational cost reduction by enabling the redeployment of personnel to patient-facing activities. About Swisslog Healthcare Swisslog Healthcare provides integrated medication supply chain solutions to hospitals and health systems to assist providers in treating patients across the continuum of care. Integrating transport and pharmacy automation, value-added services, and intelligent software, Swisslog Healthcare enables healthcare providers to respond to patient’s needs quickly and with greater accuracy. The company minimizes many sources of operational waste, so providers achieve higher levels of productivity to impact the well-being of patients in positive ways.

Read More