The U.S healthcare system is at a crossroads

Medical Economics | November 04, 2019

The U.S healthcare system is at a crossroads
The U.S. healthcare system is at a crossroads. In one direction, we have the Mack truck of chronic disease barreling toward us. By 2020, about 157 million Americans — nearly half of the U.S. population — will be managing a chronic disease, with 81 million people managing more than one. These conditions are incredibly costly, representing 75 percent of the nation’s $3.3 trillion annual healthcare costs. And new research published in September shows that death rates have either stopped decreasing or are increasing for some of these conditions, including hypertension, diabetes, and cardiovascular disease. In the other direction, we have a looming healthcare provider shortage. According to the Bureau of Labor Statistics’ Employment Projections, there is a need for an additional 203,700 new RNs each year through 2026 to fill newly created positions and to replace retiring nurses.

Spotlight

The US health care system today is fraught with wasteful spending that does not contribute to better outcomes for patients. Fortunately, many initiatives exist in both the public and private sector that are intended to increase the efficiency of the system. Three federal initiatives — the HITECH Act, the Health Data Initiative, and the Affordable Care Act — are designed to help make the US health care system more productive and to bring health care costs down for self-insured employers and individuals. Several trends may emerge as a result of these changes over the next several years, including movement toward outcome-based payments, higher productivity, decreased demand for hospital-based care and better, more efficient markets.


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DIGITAL HEALTHCARE

Hekka Labs Introduces the First Decentralized Chronic Disease Data Management Ecosystem in South Asia

Hekka Labs | January 15, 2022

Hekka Labs launches a game changing decentralized healthcare ecosystem for a far more efficient health record management. The firm will concentrate on the Southeast Asia market, starting with India, where it will establish the largest chronic disease data management network. Hekka then intends to connect to the rest of the world's healthcare market through the design and implementation of proprietary Distributed Ledger Technology (DLT). Hekka has cemented initial partnerships with 3 Indian healthcare solution providers, Curisin, a healthcare company with a wide network of 30 million patients and 40,000 partnered doctors which as recently agreed to provide a minimum of 1.5 million medical records in 2022. A further agreement to provide up to 20 separate blood biomarkers together with Covid 19 data on 100,000 patients, will form the basis of an initial trial for its blockchain audit trail platform. IMMUNIDEX, a healthcare solution provider offering tests and applications that are driven by proprietary AI that can identify early immune-related risks and is well placed to capture highly valuable data for the Hekka network. TELEMEDICINE INDIAN CO, a start-up offering multi telemedicine services, multiple blood tests, and health screening including COVID-19 testing will form another integral part of data generation for the Hekka ecosystem. Hekka Labs with the integration of Distributed Ledger Technology (DLT) offers a plug and go solution that allows users to interact with the HEKKA ecosystem without major disruption. This set up can solve the inherent problems that occur on a regular basis in the healthcare industry such as inefficient biomarker management, document hogging and unstructured data management. Hekka Labs has set out to become the leading chronic illness and immunology platform in India. Hekka's private and public blockchain network solution will generate a new trust in Indian healthcare data management and can open up significant opportunity for both the domestic and global collaboration. This will lead to new levels of ethical standards and excellence for the Indian healthcare market. In the long run, Hekka plans to evolve as a significant decentralized healthcare ecosystem by connecting the network of medical and associated healthcare providers culminating in a targeted community of over 500 million patients. As a result, tens of billions of chronic disease digital biomarkers can be made available for Deep Learning, potentially speeding up new healthcare discoveries. HEK is the native token of the Hekka ecosystem, which is launched in the Ethereum network's ERC-20 standards for its intensive security and global reputation, ensuring the confidence of delivering the most sophisticated healthcare data management service. The HEK token is a token complimented by an ATOM token (Points) system which is the primary source of HEKKA 's data transfers. This ensures the value of the token. The HEK token will be a key component in serving all prospective users' interactions with the platform's different levels of service.

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HEALTH TECHNOLOGY

Frost & Sullivan Awards proteanTecs Best Electronics Health Monitoring Technology

proteanTecs | December 23, 2021

proteanTecs, a leading developer of deep data analytics solutions for electronics health and performance monitoring, announced today it has won the 2021 Frost & Sullivan Best Practices Award for Global Electronics Health Monitoring Technology Innovation Leadership.Electronics have become an existential enabler for key industries, from Datacenter to Automotive, where 24/7 continuity with zero in-mission failures is pivotal. Therefore, it is necessary to guarantee these systems' reliability, bringing a key question to the fore: How can service providers, such as data center hyperscalers and car OEMs, track the health of electronic fleets working under extreme conditions while ensuring business resilience until the devices complete their lifetime? The award reviews the evolving landscape of electronics and presents the clear and critical need for deep data analytics across multiple industries and mission critical devices. The award declares, "Electronics health monitoring is essential to ensure these systems' functional continuity and reliability. proteanTecs offers a unique value proposition in the form of on-chip agents capable of extracting parametric data in various lifecycle stages. The Universal Chip Telemetry (UCT) enabled Proteus deep data analytics platform provides actionable insights and alerts to users along the value chain based on common, correlated, and predictive data. This allows users to take immediate action to ensure uptime and improve power, performance, and reliability." "By weaving data science together with on-chip visibility, proteanTecs' solutions deliver an unprecedented clarity at each step of the system's lifecycle", observed Sushrutha Sadashiva, Industry Analyst. "Frost & Sullivan presents Best Practices Awards to companies that inspire growth in their industries. These leaders identify emerging trends before they become the market standard and create solutions that drive differentiation and sustainable growth. They are the game changers," said Jeff Frigstad, Global Sr. Vice President, Best Practices, Frost & Sullivan. Frost & Sullivan applies a rigorous process to evaluate multiple nominees for each award category, with a detailed evaluation of best practice criteria across several dimensions. "Frost & Sullivan is at the center of the ecosystem for best practice cultivation, with cutting-edge insights that are singularly focused on reshaping the world through managed growth. It is a great honor to be recognized by them as the technology innovation leader in the Global Electronics Health Monitoring industry." Shai Cohen, proteanTecs co-founder and CEO About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 60 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. About proteanTecs proteanTecs is a leading provider of deep data monitoring solutions for advanced electronics in the Datacenter, Automotive, Communications and Mobile markets. Based on Universal Chip Telemetry™ (UCT), the company provides system health and performance monitoring, from production to the field. By applying machine learning to novel data created by on-chip UCT agents, the company's analytics platform delivers predictive insights and visibility, leading to new levels of quality, reliability and scale. Founded in 2017, the company is headquartered in Israel with offices in New Jersey, California, India and Taiwan.

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DIGITAL HEALTHCARE

Hero and AdhereHealth Establish Strategic Partnership to Improve Medication Adherence Among Vulnerable Patients

AdhereHealth | December 18, 2021

AdhereHealth, a healthcare technology leader in medication adherence insights and health outcomes, has entered into a strategic partnership with Hero, the market leader in digital in-home care. This new agreement enables AdhereHealth to deploy Hero's digital in-home care platform to help high-risk, high-cost, chronically ill patients adhere to complex medication regimens. Hero's platform includes a connected smart pill dispenser, which automatically sorts and dispenses medications according to a patient's unique medication schedule. Hero's connected app then tracks what a patient took and when, and sends real-time alerts to the patient's care team if a dose is missed or a medication is ready for refill. Hero continually monitors the patient's medication inventory and facilitates real-time medication reconciliation and synchronization. "Combining Hero's industry-leading medication management platform with AdhereHealth's advanced technologies and its nationwide AdhereRx digital pharmacy creates the first complete lifecycle medication management service," said Kal Vepuri, founder and CEO of Hero. "Our partnership will also simultaneously improve patient safety by focusing on medication management, further support caregivers and help people take more control of their health," added Mr. Vepuri. AdhereHealth's digital pharmacy, AdhereRx, leverages data analytics to identify and prioritize vulnerable populations most at risk for nonadherence or drug safety problems. Trained pharmacists then connect via phone with patients to conduct comprehensive medication reviews and address social determinants of health (SDOH) that might get in the way of medication adherence. "Hero's patient-centric technology will enable care managers, providers and health plans to remotely monitor medication intake, providing real-time visibility into how patients are adhering to medication regimens at home. Combined with our medication synchronization technologies and our nationwide AdhereRx digital pharmacy solution, we can drive better patient experience and improve value-based outcomes for vulnerable populations." Jason Z. Rose, CEO of AdhereHealth Poor medication adherence is a leading cause of re-hospitalizations and ER visits, especially among the elderly and those with chronic conditions. The financial impact is significant: medication nonadherence accounts for 16% of U.S. healthcare spending annually, accounting for more than half a trillion dollars. About Hero Hero is a leading digital in-home care platform delivering the first end-to-end medication management service for patients and caregivers. Hero's solution includes its award-winning smart pill dispenser, medication management app, automatic refills with free delivery and 24/7 live support. Since launching in 2018, Hero has dispensed more than 70 million medications. Hero is used as a care management solution by individuals, caregivers and medical providers. About AdhereHealth™ AdhereHealth delivers purpose-built, innovative technology solutions to improve quality of care, medication adherence, and cost outcomes – all with an emphasis on overcoming social determinants of health (SDOH) and improving patient experience. AdhereRx, an AdhereHealth digital pharmacy, provides high-risk, underserved patients with personalized pharmacy services that drive medication compliance and reduce unnecessary utilization costs. This unique combination of predictive analytics, intelligent clinical workflow software and proactive telepharmacy outreach performed by a nationwide team of licensed clinicians addresses an estimated half a trillion dollars of unnecessary annual medical costs attributed to medication adherence issues. Today, the Adhere™ Platform touches nearly 30 million patients across dozens of health plans, self-insured employers and other risk-bearing entities.

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MEDICAL DEVICES

Medtronic announces regulatory approval and launch in Japan of Micra AV Transcatheter Pacing System

Medtronic | January 11, 2022

Medtronic plc, a global leader in healthcare technology,today announced it has received approval fromJapan'sMinistry of Health, Labor and Welfare for the sale and reimbursement of the Micra™ AV Transcatheter Pacing System (TPS), and the company will launch the product this month. This approval expands the number of patients inJapan– one of the largest markets in the world – who are eligible to receive the Micra TPS, the world's smallest pacemaker. The Micra AV is indicated for the treatment of patients with AV block, a condition in which the electrical signals between the chambers of the heart (the atria and the ventricle) are impaired. The Micra TPS is the first-ever leadless pacemaker; its first version (the Micra VR) was approved inJapanin 2017 for patients who only require single-chamber pacing. "Pacemakers have made significant progress over their approximately 60-year history, including miniaturization, improvements in pacing technology, MRI compatibility, and remote monitoring," explainedKyoko Soejima, professor of cardiovascular internal medicine at Kyorin University Hospital and a member of the Micra TPS Global Clinical Trial steering committee. "The first Micra system transformed the concept of pacemakers by eliminating surgical pockets and leads, and Micra AV promises to deliver the benefits of leadless pacing to a larger number of patients because ventricular pacing can be performed synchronously with the atrium." Historically, patients with AV block have been treated with traditional dual-chamber pacemakers which are implanted in the upper chest, under the skin below the collar bone, and connected to the heart using thin wires called "leads." Identical in size and shape to the original Micra TPS, Micra AV has several additional algorithms which detect cardiac movement, allowing the device to adjust pacing in the ventricle to coordinate with the atrium, providing "AV synchronous" pacing therapy to patients with AV block. The Micra AV approval is based on data from the MARVEL 2 (Micra Atrial Tracking Using A Ventricular accELerometer) study, which evaluated the safety and effectiveness of accelerometer-based atrial sensing algorithms. The study evaluated the ability of the Micra's internal sensor to monitor and detect atrial contractions and enable coordinated pacing between the atrium and ventricle, thereby providing AV synchrony. "Since introducing the first battery-powered external pacemaker in 1957 to the innovative Micra leadless pacemaker portfolio, Medtronic continues to pioneer pacing innovations for physicians and their patients." Rob Kowal, M.D., Ph.D., chief medical officer of the Cardiac Rhythm Management business at Medtronic About the Micra Transcatheter Pacing Systems (TPS) The Micra TPS received CE Mark inApril 2015and U.S. FDA approval in 2016. Comparable in size to a large vitamin, Micra is less than one-tenth the size of traditional pacemakers yet delivers advanced pacing technology to patients via a minimally invasive approach. During the implant procedure, the device is attached to the heart with small tines and delivers electrical impulses that pace the heart through an electrode at the end of the device. Unlike traditional pacemakers, Micra does not require leads or a surgical "pocket" under the skin, so potential sources of complications related to leads and pockets are reduced, and there is no visible sign of the device. About Medtronic Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered inDublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary.

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Spotlight

The US health care system today is fraught with wasteful spending that does not contribute to better outcomes for patients. Fortunately, many initiatives exist in both the public and private sector that are intended to increase the efficiency of the system. Three federal initiatives — the HITECH Act, the Health Data Initiative, and the Affordable Care Act — are designed to help make the US health care system more productive and to bring health care costs down for self-insured employers and individuals. Several trends may emerge as a result of these changes over the next several years, including movement toward outcome-based payments, higher productivity, decreased demand for hospital-based care and better, more efficient markets.

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