Trump health care executive order means price quality transparency

foxbusiness | June 25, 2019

Centers for Medicine & Medicaid Services Administrator Seema Verma reacts to President Trumps executive order to bring transparency to health care prices.President TrumpOpens a New Window. on Monday signed an executive order that promises to empower patients and require hospitals to disclose their prices.This landmark initiative continues our work to put American patients first, Trump said at the White House. We are fundamentally changing the nature of the health care marketplace.

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This PGY1 Pharmacy Residency is conducted by Virginia Hospital Center (VHC) in Arlington, Virginia in partnership with the Bernard J. Dunn School of Pharmacy at Shenandoah University in Winchester and Ashburn, Virginia. Rotations are completed at Virginia Hospital Center, an independent 350-bed not-for-profit, teaching facility. VHC is designated as a Magnet hospital by the American Nurses Credentialing Center in Washington DC metropolitan area.


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HEALTH TECHNOLOGY

Addison Group Expands Non-Clinical Healthcare Services With Acquisition of Harmony Healthcare

Addison Group | July 11, 2022

Addison Group a national leader in professional services specializing in talent solutions and consulting services, announced the acquisition of Harmony Healthcare a human capital management company providing a diverse range of non-clinical healthcare workforce and consulting solutions nationwide. With healthcare as the third-largest industry in the U.S., this investment comes amid high demands and a continued shortage of non-clinical healthcare workers. Addison and Harmony's combined 28 years of experience in non-clinical healthcare workforce solutions enable health organizations to thrive in an ever-changing environment. The acquisition furthers Addison's position as a national leader in non-clinical healthcare talent resources, recruiting, and consulting services, and Addison's ongoing expansion strategy through organic growth and acquisitions of forward-thinking specialized firms that prioritize client and employee satisfaction. "Addison's consistent growth trajectory is due to our keen understanding of market trends and finding the right solutions for our client's business challenges. As the healthcare industry continues to navigate significant shifts, many organizations are still grappling with talent shortages, cyberattacks, and the rising cost of health services. Our ongoing investment in non-clinical healthcare workforce solutions provides our clients with innovative, accessible, and value-based health system resources. Together with Harmony, we will continue to empower our shared client base with enhanced consultant services within health information technology, reimbursement, and population health." Thomas Moran, CEO of Addison Group "Addison's consultative approach and expansive network of professionals will accelerate our abilities to meet customer demands nationally. Addison's culture focuses on People First, and the vast range of offerings provides our employees and consultants with added career opportunities. We are excited to partner with Addison as we continue our mission to empower healthcare organizations with quality solutions that optimize financial and clinical outcomes while enabling change management required to navigate the rapidly shifting healthcare landscape," said Brandon Martin, President of Harmony Healthcare. Harmony Healthcare will continue to maintain its headquarters in Tampa, Florida. The company's executives and the team will retain their roles with a continued focus on expanding their organization. About Addison Group Addison Group is a leading professional services firm specializing in talent solutions and consulting. Addison Group delivers companies' expertise and talent to achieve and sustain business growth. We offer a full suite of consulting and recruiting capabilities across multiple sectors, including information technology, finance and accounting, non-clinical healthcare, human resources, administrative, and digital marketing. With a growing network of companies, offices across the United States, and deep relationships in regional and local markets, Addison Group is one of the top talent solutions and consulting companies in the US, providing industry-leading expertise with a national reach and a localized touch. Founded in 1999, Addison Group has been repeatedly recognized by the media as one of the fastest-growing private companies in the United States, Forbes' Top 200 America's Best Professional and Specialist Search Firms, America's Best Recruiters and Executive Search Firms, and America's Best Temporary Staffing Firms, SIA Top 100 Staffing Bold Leaders, Inc. Best 100 Places to Work, and Best of Staffing® by ClearlyRated. About Harmony Healthcare Harmony Healthcare, a human capital management company, provides a diverse range of non-clinical staffing and consulting solutions to healthcare organizations nationwide. Harmony Healthcare delivers quality solutions to empower healthcare organization success, enhance clinical and financial outcomes, and enable the transition to value-based healthcare. Harmony Healthcare is a trusted partner to over 300 clients, including 11 of the top 15 largest health systems in the nation, major academic health centers, hospitals, physician practices, payers, 9 of the 15 largest CPA firms, and the federal government. Founded in 2010, Harmony Healthcare is a proud member of several prestigious professional health organizations including ACDIS, HFMA, AHIMA, NCAR, NAHRI, AAHAM, NAHAM, ACHE, AHDI, ACMA, NAHQ, CMSA, and ASHRM.

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FUTURE OF HEALTHCARE

Signify Health Opens New Regional Service Center in Oklahoma City

Signify Health, Inc. | June 15, 2022

Signify Health, Inc. a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare networks to create and power value-based payment programs, announced the official opening of its new regional service center in Oklahoma City. The Company will mark the opening of its 25,000 square-foot site with a ceremonial ribbon cutting event with state and local government representatives, business community leaders, and employees. “Our investment in workforce and economic development is attracting industry-leading companies like Signify Health who recognize the many attributes Oklahoma has to offer growing businesses,” said Oklahoma Governor Kevin Stitt. “We are delighted to officially welcome Signify Health to our business community and look forward to supporting their continued success for many years to come.” Last December, Signify Health announced its decision to locate its third regional service center hub in Oklahoma City and plans to bring more than 200 new jobs to the region. Since that time, the Company has hired more than 130 new employees who work both on-site and remotely. “We truly appreciate the warm welcome and support we have received from both the Governor’s and Mayor’s administrations. They helped make the process of opening up a new facility and sourcing talented people a seamless and positive experience. We knew at the outset of this journey that Oklahoma City was a place where we would find people who share our values and passion for making a positive difference in people’s health. What we found here exceeded our high expectations,” David Pierre, Chief Operating Officer at Signify Health “The healthcare industry in Oklahoma City is an extremely important economic driver for our region, and more importantly it’s a major contributor to a high quality of life for our residents,” said Oklahoma City Mayor David Holt. “We congratulate Signify on opening its doors in Oklahoma City and look forward to the contributions they will make to our community, from both economic and quality of life perspectives.” Located at 5400 E. Memorial Road, Signify’s service center was designed to support the distinct needs of a hybrid workforce, including a flexible floor plan and collaboration spaces. In working with Turner & Company, Signify adopted a number of healthy workplace elements used in its Dallas office. Among the eco-friendly features are a geo-thermal HVAC system, LED lighting and an onsite wastewater treatment system. Signify Health’s Chief Operating Officer, David Pierre, will host a ceremonial ribbon cutting event on June 15, 2022 at 10:00 AM CT. Oklahoma Governor Kevin Stitt; Brent Kisling, Executive Director of Commerce, Oklahoma State Department of Commerce; and, Jeff Seymour, Executive Vice President, Greater Oklahoma City Chamber of Commerce are expected to participate in the ceremony and offer remarks. About Signify Health Signify Health is a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. Our mission is to transform how care is paid for and delivered so that people can enjoy more healthy, happy days at home. Our solutions support value-based payment programs by aligning financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings. Through our platform, we coordinate what we believe is a holistic suite of clinical, social, and behavioral services to address an individual’s healthcare needs and prevent adverse events that drive excess cost, all while shifting services towards the home. For more information on how we are taking health homeward, visit us at signifyhealth.com.

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HEALTH TECHNOLOGY

Tebra Secures More Than $72 Million at Over $1 Billion Valuation to Expand Digital Healthcare Technology Platform

Tebra | July 08, 2022

Tebra, the digital backbone for independent healthcare practices, announced that it has closed more than $72 million in funding at a valuation greater than $1 billion. Golub Capital led the investment which includes both growth equity and debt financing. Late last year, Kareo and PatientPop, cloud-based leaders in clinical, financial, and practice growth technology, joined forces to form Tebra to support the connected independent practice of the future and modernize patient care. This capital infusion will accelerate Tebra’s merger plans including expanding market share, developing and launching the combined product line and advancing the new branding for the company. Tebra supports over 100,000 providers who are delivering care to more than 90 million patients in the U.S. A New Era of Healthcare Consumers expect digital access, simplicity and convenience in all aspects of their lives. You can quickly research and order a meal online, hail a ride, and buy a car from your smartphone. Meanwhile, healthcare has been left behind in a sea of complexity and fractured solutions. Tebra is simplifying and modernizing this experience through a platform of tools built for the new era of healthcare. The platform connects patients to the best providers in seconds and delivers a modern, digital-first patient experience. Tebra is the Digital Backbone for the Connected Healthcare Practice Tebra provides independent healthcare practices with a complete operating system for practice success. Built through the combination of Kareo and PatientPop, the offering includes modern websites, messaging and scheduling, telehealth, EHR, care delivery, practice management, billing, payments, and analytics. Since the companies merged in late 2021, the company has successfully built and launched a two-way product integration that allows both platforms to share scheduling information and physician availability. The integrated solution also reviews appointment information and sends out surveys for better reputation management. Over 800 providers now use the combined operating system, and the company plans to grow significantly both into their existing base and the healthcare industry at large. “With this new investment from Golub Capital, we’ll be able to accelerate Tebra’s mission to unlock better healthcare by helping independent practices bring modernized care to patients everywhere. Simultaneously, we will broaden our market reach and launch new solutions, helping an even larger number of physicians with digital tools and support to attract new patients, get paid quicker, and operate their practice more efficiently.” Dan Rodrigues, Co-Founder and CEO of Tebra From practice growth technology to clinical and financial software, Tebra’s complete operating system is structured to modernize every step of the patient journey and support the connected practice of the future. Headquartered in Southern California, the company currently has over 1,000 employees. Golub Capital’s Late Stage Lending team was administrative agent and led the investment. Golub Capital also supported the 2021 merger with $65 million in growth funding, bringing its total commitment in the last year to more than $137 million. “We are delighted to be a long-standing financing partner to Tebra, supporting them through multiple growth phases, add-on acquisitions and new product development since 2017,” said Peter Fair, Managing Director at Golub Capital’s Late Stage Lending team. “Our mission is the success of our clients and being able to offer flexible solutions that meet the changing goals of their business.” Golub Capital is one of Tebra’s top-tier institutional investors, which also includes CommonFund, HLM Venture Partners, OpenView Venture Partners, StepStone Group, Stripes Group, Montreux Equity Partners, Toba Capital, Transformation Capital and Vivo Capital. About Tebra In 2021, with a combined mission to unlock better healthcare, Kareo and PatientPop joined forces to form Tebra — the operating system for the connected practice of the future. With an all-in-one, purpose-built platform to drive practice success and modernize every step of the patient journey, Tebra provides digital tools and support to attract new patients, deliver modern care, get paid quickly, and operate efficiently. Tebra’s all-in-one platform includes a fully certified Electronic Health Record (EHR), scheduling, insurance billing, patient payments, telehealth and more. About Golub Capital Late Stage Lending Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. The firm’s Late Stage Lending group provides flexible growth capital to venture-backed, late stage SaaS companies. Our custom financing solutions are designed to help proven SaaS businesses accelerate sales growth, drive new product development, pursue strategic acquisitions and provide shareholder liquidity. As of April 1, 2022, Golub Capital had over 620 employees and over $50 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London.

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MEDICAL DEVICES

Astorg Acquires Majority Interest in Avania

Avania | June 21, 2022

Avania, the preeminent, full-service global MedTech contract research organization announced that Astorg has acquired a majority stake in the company. Astorg, together with Kester Capital current investor who intends to retain a minority stake will actively support management’s plans to advance Avania’s development as a MedTech solution provider. Headquartered in the Netherlands, Avania was formed in March 2020 from the combination of five complementary businesses and started a successful journey to establish a fully integrated platform to serve sponsors worldwide in advancing medical technology products from early development to post-market ensuring customized, scalable solutions that optimize efficiencies and streamline the advancement of medical technology. Astorg brings an impressive global network of relationships in the MedTech space which will strengthen Avania’s pipeline and broaden its customer base while the capital access will help accelerate its growth, both organically and via acquisitions. “The platform we have built has positioned us ahead of our competition in the MedTech CRO space, and this deal will bring additional investment to strengthen our infrastructure, capital for acquisitions, and added support as we continue to grow Avania into the clear market leader. The largest CROs do not have the specialization that we bring, and the regional niche providers do not have the scale and reach of Avania. This unique positioning, along with the continued changes to the MedTech regulatory landscape, will allow us to push ourselves to the next era of growth.” Sapna Hornyak, president and CEO of Avania “We are extremely pleased to partner with Sapna and her team, as well as Kester, on this transaction,” said Managing Partner of Astorg Mid-Cap Edouard Pillot. “Being one of the global leaders in a profitable and fast-growing niche market, Avania squarely fits with Astorg’s investment criteria, and we are delighted to have Avania as our first Mid-Cap Healthcare deal, sitting within Astorg’s broader healthcare portfolio.” About Avania Avania is a leading, global full-service contract research organization focused on the management of clinical studies for medical technology, IVDs, biologics, and device-drug combination products internationally. Avania supports products from the first-in-human phase through the post-market phase with the same customized approach. When you need to advance your medical technology, it takes Avania. Avania’s vision is to be your trusted global partner in the evolution of your medical technology from innovation to commercialization to improving patient health and well-being. About Astorg Astorg is a leading private equity firm with over €17 billion of assets under management. We work 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 goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body. We have valuable industry expertise in healthcare, software, business-to-business professional services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg. About Kester Capital Kester Capital is a primary buy-out specialist. Kester focuses on the healthcare, data & information and technology sectors, targeting businesses that require capital in order to unlock their potential.

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Spotlight

This PGY1 Pharmacy Residency is conducted by Virginia Hospital Center (VHC) in Arlington, Virginia in partnership with the Bernard J. Dunn School of Pharmacy at Shenandoah University in Winchester and Ashburn, Virginia. Rotations are completed at Virginia Hospital Center, an independent 350-bed not-for-profit, teaching facility. VHC is designated as a Magnet hospital by the American Nurses Credentialing Center in Washington DC metropolitan area.

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