Vizient- Health systems should expect a nearly 5% spending jump on drugs

Fierce Healthcare | August 06, 2019

Health systems can expect a nearly 5% increase in the cost of their pharmaceutical purchases in 2020, according to a new report. Based on a drug pricing forecast from Vizients pharmacy program, which compiled member participants purchases in hospital and non-acute care settings, pharmaceutical costs will far exceed both inflation and wage growth in 2020, making healthcare less affordable. Other highlights from the forecast include a dramatic change in the approval and introduction of biosimilars into the U.S. market. Nine out of the top 10 drugs (by total spending) among Vizient members in 2020 will be branded biologics, meaning pharmacy and healthcare leaders should start supporting the biosimilars market. Dan Kistner, PharmD, group senior VP of pharmacy solutions for Vizient, noted the changing landscape in the hospital market. “Hospitals are no longer strictly focused on inpatient/acute care services,” Kistner said in a statement. “They are also offering numerous services in the non-acute setting such as outpatient infusions, home infusion, and most importantly specialty pharmacy services. Therefore, the spend profile of our members now includes the new, increasingly specialized medications approved by FDA, which tend to be among the most costly products introduced into practice.”

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Health Technology, Digital Healthcare

Aspect Imaging to bring Improvements in NICUs for Vizient

Aspect Imaging | September 25, 2023

Aspect Imaging, a global leader in MRI systems for neonatal patients, has been awarded an Innovative Technology contract by Vizient, the nation's largest provider -driven healthcare performance improvement company. This contract recognizes the unique qualities of Aspect Imaging's Embrace Point of Care Neonatal MRI System and its potential to bring improvements to the healthcare industry. The Embrace Point of Care Neonatal MRI System is designed specifically for the imaging needs of prematureand newborn infants, making it a critical tool in neonatal intensive care units (NICUs). The Embrace is the world's first FDA-cleared and CE-approved MRI system for neonatal patients. It is designed to be placed directly within NICUs, overcoming the size and risk limitations associated with adult MRI scanners. The system includes features such as a temperature-controlled patient bed and a Whisper Quiet sound profile to meet the specific care needs of neonatal patients. This technology enables safer and more accessible MRI imaging for fragile neonatal patients and provides critical information to the clinical care team. Chief Commercial Officer at Aspect Imaging, Wendy Slatery, stated, It is an honor to have the Embrace recognized by the clinical experts at Vizient, as an Innovative Technology, and an exciting opportunity to bring valuable solutions to Vizient customers. We are looking forward to working with Vizient members seeking to expand and elevate neurocritical care of the smallest patients while reducing patient risks and staff time associated with transporting newborns to a traditional MRI. The Embrace MRI gives the neonatal medical team access to information from the life’s first hours and throughout the patient’s time in the NICU, on which critical care decisions will be based. [Source: Business Wire] Vizient's provider customer-led councils recommended the Embrace system for an Innovative Technology contract after evaluating its potential to enhance clinical care, patient safety, and healthcare worker safety, or improve business operations in healthcare organizations. The recognition and award of this contract highlight the potential of the Embrace Point of Care Neonatal MRI System to improve neurocritical care for the smallest patients while reducing risks associated with transporting newborns to traditional MRI facilities. About Aspect Imaging Aspect Imaging, a pioneering force in the field, stands as the global frontrunner in crafting and advancing compact MR imaging systems tailored for both research and clinical use. Their groundbreaking technology centers on compact, high-performance permanent magnets, introducing transformative MRI solutions to tackle unmet requirements in research and medical contexts. These innovations ensure the delivery of the finest quality images, whether at the benchtop or in point-of-care scenarios.

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Health Technology, Digital Healthcare

Montage Health Launches Innovative At-Home Patient Monitoring Service

Montage Health | September 22, 2023

Montage Health Connected Care has launched an advanced service to enhance the quality and accessibility of healthcare for patients. This home-based patient monitoring service, supported by Cadence, is designed to offer proactive healthcare to individuals managing chronic medical conditions. Dr. Mark Carvalho, Chief Executive Officer of Montage Medical Group, explained that the program lessens the need for emergency department visits by extending care directly to patients' homes. He emphasized that this approach offers mutual advantages for patients and healthcare providers. Patients can gain access to an expanded care team from the comfort of their homes. At the same time, he added that clinicians will benefit from improved insights into disease progression and receive support from a nurse-practitioner-led care team, ultimately enhancing patient safety. Montage Health's advanced remote care initiative represents a significant progression in its dedication to providing exceptional, personalized, value-based healthcare tailored to individual needs and objectives. This program combines cutting-edge remote monitoring technology with a clinical care team under the direction of nurse practitioners to enable real-time collection, analysis, and response to patients' vital signs. It will support patients with medication management, laboratory assessments, and coaching to ensure outstanding healthcare and promote optimal well-being. The process involves the daily use of smart devices for remote vital sign monitoring and remote care telephone consultations involving a diverse healthcare team. Chris Altchek, CEO and Founder of Cadence said, Montage Health exemplifies best-in-class preventative, restorative, and coordinated care with their strong track record of innovative programs and collaborative partnerships. [Source – Business Wire] Medicare beneficiaries will gain access to this offering at Montage Medical Group locations, resulting in reduced healthcare costs. This will also empower healthcare professionals to provide patients with better, more effective care. About Montage Health Montage Health is a local non-profit organization that delivers exceptional healthcare and promotes optimal health. The company strives to provide coordinated care that meets individual needs through its subsidiaries and partnerships with healthcare providers and community organizations. Its entities include Community Hospital of the Monterey Peninsula, Montage Medical Group, Montage Health Foundation, Montage Wellness Center, Aspire Health, and MoGo Urgent Care. About Cadence Cadence is a healthcare technology firm that assists the most patient-focused healthcare systems in consistently delivering proactive healthcare. The company's remote patient intervention solution blends technology and clinical expertise to deliver a tailored and precise standard of care that extends beyond the hospital's physical boundaries.

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Health Technology, Healthcare Analytics

Weave Partners with Affirm to Expand Payment Options for Patients

businesswire | September 27, 2023

Weave a leading all-in-one experience platform for small and medium-sized healthcare businesses, announced a new partnership with Affirm the payment network that empowers consumers and helps merchants drive growth. Now available to thousands of Weave’s customers, this collaboration provides flexible payment options for eligible patients, making it easier for them to access and afford the care they need. By partnering with Affirm, Weave customers can offer their patients pay-over-time financing with as low as 0% APR. Affirm is directly integrated with Weave payments, so patients can apply to pay with Affirm in a matter of seconds, and spread out their payments over time, easing the burden of upfront costs and providing an additional payment option for dental, optometry, veterinary, or medical practices. This partnership will not only benefit patients but also allow healthcare practices to receive payments quicker than before. “Collecting payments is one of the most important parts of the patient's journey. A smooth and efficient payment process can help to create a positive patient experience, build trust, and encourage repeat business, which is why we are excited to partner with Affirm,” said Branden Neish, Chief Product & Technology Officer of Weave. “By providing more flexible and affordable payment options, we are empowering patients to take control of their healthcare and ensuring that cost doesn’t prevent them from receiving the care they need.” By expanding the payment options available to patients, Weave and Affirm aim to remove barriers to care and ensure everyone has access to the healthcare services they need. The partnership reflects the shared commitment of both companies to make patients’ payment experience more seamless and revolutionize the way healthcare practices handle payments. “By partnering with Weave, thousands of healthcare practices can now seamlessly add Affirm’s transparent and flexible payment options at checkout,” said Wayne Pommen, Chief Revenue Officer of Affirm. Patients are eager to pay over time without junk fees, late fees, or compounding interest, and now these businesses can address that demand. [Source – Business Wire] About Weave Weave is the all-in-one experience platform for small- and medium-sized healthcare businesses. From the first phone call to the final invoice and every touchpoint in between, Weave connects the entire customer journey. Weave’s software solutions transform how local businesses attract, communicate with and engage customers to grow their business. Weave has set the bar for Utah startup achievement & work culture. In the past year, Weave has been named a G2 leader in Patient Engagement, Optometry, Dental Practice Management and Patient Relationship Management software. About Affirm Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees.

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Health Technology

Crothall and Beyond Clean Revolutionize Sterile Processing Education

Beyond Clean | September 07, 2023

Two prominent entities in the sterile processing industry, Crothall Healthcare and Beyond Clean, have entered into a strategic partnership to develop an innovative educational curriculum specially designed for sterile processing professionals serving in hospitals throughout the United States. This partnership leverages both organizations' collective wealth of knowledge and extensive experience to empower sterile processing professionals with state-of-the-art expertise, enhance patient safety, and elevate the overall benchmarks for sterile processing industry-wide. Afif Escheik, BA, CHL, CER, CIS, CRCST, CST, Regional Director of Operations at Crothall Healthcare, expressed that this partnership will enhance the company's capacity to provide sterile processing professionals with the educational tools necessary to meet and exceed industry standards, reduce errors, and optimize productivity. Crothall's track record of achievement in the field of sterile processing has been founded upon its stringent, data-centric methodologies, which have led to a remarkable enhancement in audit compliance of nearly 90%, a substantial reduction in process errors of up to 50%, and significant productivity gains of up to 62%. Through this collaboration, Crothall intends to incorporate these invaluable insights into developing the forthcoming curriculum. Hank Balch, Founder and President of Beyond Clean, remarked that this partnership will help elevate the standard of sterile processing in the United States, significantly impacting patient safety and quality of service. The collaborative curriculum is adaptable for various care settings, promoting sustainable, high-value care, enhancing patient safety, and reducing errors across the healthcare organization. This partnership signifies a significant step towards a safer and more efficient future in surgical services. About Crothall Healthcare With more than three decades of experience in the healthcare sector, Crothall Healthcare is the foremost provider of patient-centered support services, offering comprehensive solutions tailored to diverse care settings. Its sterile processing services integrate extensive healthcare expertise, clinical rigor, and industry best practices to deliver efficient and highly effective services. About Beyond Clean Beyond Clean is a global expert in sterilizing educational content. The company's unwavering commitment to sterile processing motivates it to empower frontline professionals with essential knowledge, education, and steadfast assistance. It also enables them to uphold impeccable standards and ensure the continuous cleanliness of all instruments.

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