All Posts By

admin

Market for digital therapeutics looks healthy

By | NEWS | No Comments

Digital-Therap-Small-Alastair-161012-300x262

By Tom York for VC Journal

Digital therapeutics, combining remote patient monitoring, behavior modification, wearables, data analytics and related technologies to treat patients with chronic conditions, has been big on promises but short on delivery, despite the best efforts of a number of venture-backed companies in the sector.

But that’s about to change and for the better, according to a report from the New York healthcare-focused venture firm Psilos Group.

The digital-therapeutics market could jump to $6.8 billion in 2021, 11 times the $599 million of 2016, the report says.

To be sure, the projected amount is but a sliver of the $3.25 trillion spent on healthcare in the United States in 2015. But Psilos Managing Partner Joe Riley said the report’s optimism is based on the success of several VC-backed early-stage companies entering the market.

“There are a lot of firms like ourselves who are starting to grasp the importance of digital therapeutics in terms of addressing the rising cost of healthcare and a new way to attack chronic illnesses,” he said. “Until this point, we’ve just scratched the surface on how to address these problems.”

Psilos invested in two rounds in eight-year-old Healthmine (formerly SeeChange Health). The Dallas company uses analytics to scour tens of thousands of health-plan medical records, lab reports and wearable devices to track such conditions as abnormal heart rates and high glucose levels. It then suggests treatments.

The company claims it’s saved employers more than $100 million to date.

Despite such numbers, not all VCs say the market is poised for rapid growth, due to cumbersome federal regulations and approval processes.

Robert Mittendorff, an emergency physician and a partner at Norwest Venture Partners, agreed with the Psilos report that the digital-therapeutics sector would continue to expand. But he expects a less accelerated pace.

In September 2015, Norwest led a $48 million Series C round in Omada Health, one of the more talked-about startups in the sector.

Other firms joining in the third round included Andreessen HorowitzdRX CapitalGE VenturesHumanaProvident Health & ServicesRock Health andU.S. Venture Partners.

Counselors at the San Francisco startup work with patients to help with such challenges as diet and exercise to mitigate the impact of type 2 diabetes.

“Digital therapeutics is happening, and we’re seeing proof that it works,” Mittendorff said.

What’s getting in the way of the sector’s growth is that these businesses aren’t being reimbursed “out of the standard coffers from which the majority of healthcare is paid for by insurance companies,” Mittendorff said. “But the process of convincing insurers to pay for it is on its way.”

Tom York is a San Diego-based contributor.

Music as Medicine? The Sync Project Hopes to Help You Find the Right Music to Make You Well

By | Podcast | No Comments

CEO Marko Ahtisaari brings a rich background of design and music to a new quest to identify music that can actually help people maintain or regain their health. In this interview, Ahtisaari references a few websites, including go.syncproject.com where you can offer your song suggestions. You can find out more about project advisor Dr. Robert Zatorre in this interview and hear Ahtisaari’s view on company culture.

listen on itunes

Quartet Health CEO Arun Gupta on the Behavioral Health Venture That’s got the Attention of High Profile Strategic & VC Firms

By | Podcast | No Comments

Quartet Health recently closed on a $40 million second round to build a support platform for behavorial health patients. The company partners with health systems to provide consistent online support for their patients. Investors include former Congressman Patrick Kennedy, GV (formerly Google Ventures), F-Prime Capital Partners, Polaris Partners and others.

listen on itunes

Zipnosis Turning Smart Phone into Part of a Doctor’s Office Staff

By | Podcast | No Comments

Zipnosis doesn’t just bring the doctor to your phone. The company’s app also includes a set of questions geared toward diagnosing your problems and determining if a doctor’s visit is necessary. If an office visit is required, the app can even speed registration. Zipnosis recently raised a $17 million Series A round from Ascension Ventures, Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures, and Omphalos Ventures.

listen on itunes

Accolade Earning Kudos from Payers, Patients

By | Podcast | No Comments

Tom Spann, co-founder, vice chairman and chief operating officer, left a “pretty good job” at Ac-centure to create a company that helps patients manager their health care insurance. Accolade is hired by companies like Comcast to serve as a go-between its employees and health care insurers. The company goes far beyond understanding why health care bills costs what they do. It works to help patients get the best bang for their buck by understanding what care people re-ally need.

listen on itunes

How TigerText Is Making Mobile Tech Legit

By | Podcast | No Comments

TigerText’s secure messaging app promises to improve com-munications between health care workers who can’t use standard technology. Chief Medical Officer Andrew Brooks, MD, explains where current technologies fall short and how TigerText is spanning the gap. TigerText’s CEO Brad Brooks – brother of the CMO – spoke at our Digital Healthcare Innovation Summit.

listen on itunes

Pramoda On How Bundled Payment Benefits Patients

By | Podcast | No Comments

Anita Pramoda, CEO of Owned Outcomes, a health analytics company that has worked with more than 100 hospitals implement value based care initiatives and bundled payments. Breaking Health Host Steve Krupa, CEO of Psilos Group, delves into Owned Outcomes unique approach to helping health care systems – and patients – migrate to new forms of health care payment.

listen in itunes

The DHIS Post Game Show

By | Podcast | No Comments

The Digital Healthcare Innovation Summit brought together over 300 leaders in Digital Technology and Health Care to dig into what will finally bring real change to health care. The message is clear – change is coming. EMRs are up and running. Health care workers are demanding mobile technologies. And physicians find telehealth visits to be a viable – and cost effective way – of managing patient health. All discussions as well as private interviews with health care leaders will be available at digitalhealthcaresummit.com. Until they arrive, listen to Healthegy Content Director Tom Salemi and Steve Krupa, CEO of Psilos Group and host of Breaking Health Podcast, share their takes from the productive day’s discussions.

listen in itunes

meQuilibrium’s Bid to Boost Productivity by Lowering Stress

By | Podcast | No Comments

People enduring chronic stress are less likely to eat right, exercise, sleep enough, or do many of the basic things necessary for good health, says Jan Bruce, co-founder of meQuilibrium. The answer, of course, is simple. Find ways to reduce stress, but the path to a less stressful existence isn’t as clear as it might be. Bruce co-founded meQuilibrium to deliver individualized plans for employees designed to help them build “resilience” to stress. Psilos CEO Steve Krupa and Bruce delve into the actual impacts stress is having on health and the economy.

listen in itunes

Remedy’s Bid for Bundled Payments

By | Podcast | No Comments

A serial entrepreneur, Steve Wiggins made his bones in health care two decades ago running Oxford Health Plans, a company he describes as being a mix between Castlight and Oscar. Today, Wiggins is chairman of Remedy Partners, a company that’s offering itself to providers as go-between in managing bundled payments from CMS. “We’re the cheapest way into the pro-gram,” Wiggins tells Breaking Health Host Steve Krupa in this week’s podcast. “It would cost a provider anywhere between 4-5% on these bundles to manage them themselves.” Remedy Partners, which manages $5 billion in payments, is able to do the same job for less. Hear Wiggins’ unique take on how companies like Remedy can help fix health care.

listen in itunes

Chairman Mittendorff Hits on the High Notes of Upcoming DHIS

By | Podcast | No Comments

Norwest Venture Partners’ Robert Mittendorff, MD, and Breaking Health Host Steve Krupa of Psilos Group bring their considerable experiences to bear. Krupa delves into Mittendorff’s ability to balance practicing medicine with identifying game-changing new digital health technologies for one of the leading investors in digital health. Mittendorff also discusses the highlights he sees in the coming Digital Healthcare Innovation Summit including Digital Therapeutics, Population Health, and the Rise of the Consumer.

listen in itunes

Breakthrough Mayo Clinic Study Highlights MBI Secondary Screening Technology as a Cost-Effective Way to Increase Accurate Breast Cancer Diagnoses

By | NEWS | No Comments

A recent study conducted by Mayo Clinic has determined that the addition of Molecular Breast Imaging (MBI) for women with dense breast tissue resulted in a lower cost per cancer detected than screening with mammography alone. The study, published in the American Journal of Roentgenology (AJR), entitled,Diagnostic Workup and Costs of a Single Supplemental Molecular Breast Imaging Screen of Mammographically Dense Breasts,” found MBI technologies led to more accurate diagnosis rates, and in combination with mammography, resulted in a cost savings of approximately 15 percent. Read More

Medica Selects HealthEdge To Bring Innovative Products And Services To Members

By | NEWS | No Comments

HealthEdge®, provider of the only integrated financial, administrative and clinical platform for healthcare payors, today announced that Medica, a health insurance company in Minnesota, has selected the HealthRules product suite as its technology platform to meet their next-generation healthcare business goals. Medica will leverage the HealthRules product suite to provide its Individual and Family Business segment a variety of new products and services. The HealthRules product suite will help Medica reduce administrative costs, stay ahead of regulatory changes, and leverage a more agile technology platform to meet the changing needs of consumers in the healthcare market. Read More

Digital Healthcare Players Set to Profit From Epic’s Open Platform

By | NEWS | No Comments

Story appears in TheStreet.com
Epic Systems decision to create an open source third-party platform for diversified healthcare applications is the biggest development in the healthcare industry in years, said Steve Krupa, senior managing member at healthcare venture capital firm Psilos Group. Krupa added that the new Epic platform will enable independent developers around the world to write a huge array of healthcare applications which will be linked to the Epic database, which until now has been mostly a closed system. Finally, Krupa said Epic’s publicly traded competitors like Allscripts, Cerner and Athena Health, will likely follow Epic’s lead and develop similar open source software because the opportunity is too big to ignore.

Venture Capitalist on Epic’s Opening Up

By | NEWS | No Comments

Story appears in TechCrunch.com
In 2015, the consumer will really be in the driver’s seat, and this is especially true in the healthcare world. The Affordable Care Act (ACA), better known as Obamacare, is here to stay. Now health insurers today have little choice but to dramatically revise their 50-year old business models that focused on employer-sponsored group products and focus on the consumers who have so much power going forward. Read More

In Search of a Better Approach to Breast Cancer Screening

By | NEWS | No Comments

Story appears in XConomy.com
As a venture investor in the healthcare sector, I see a lot of new medical technologies that promise improvement over the current standard of care. Opportunities that represent truly transformational change in medicine are rare, and those that address a major clinical challenge affecting tens of millions of lives are rarer still. Read More

In 2015, Consumer Will Be King in Healthcare

By | NEWS | No Comments

Story appears in TechCrunch.com
In 2015, the consumer will really be in the driver’s seat, and this is especially true in the healthcare world. The Affordable Care Act (ACA), better known as Obamacare, is here to stay. Now health insurers today have little choice but to dramatically revise their 50-year old business models that focused on employer-sponsored group products and focus on the consumers who have so much power going forward. Read More

VC in 2015: Steve Krupa of Psilos Group on Laments About a Bubble

By | NEWS | No Comments

Story appears in WSJ.com
Venture capital exploded in 2014, with bigger deals and more eye-popping valuations than anytime since the dot-com boom. So what happens next, and which opportunities will define 2015?

We asked several venture capital investors to reflect on the past year and give us their outlook for the next 12 months. Next in our series is Steve Krupa, managing member of Psilos Group Managers. Mr. Krupa talks about health-care IT, resistance to new health-care IT infrastructure and laments about a bubble. Read More

As Health Care Shifts Toward the Consumer, Here’s Where the Investor Opportunities Are

By | NEWS | No Comments

Story appears in VentureBeat.com
The health insurance industry’s legacy business-to-business model of the past half-century is on the brink of irrelevance. The Affordable Care Act created the opportunity for individuals to shop for insurance directly on public healthcare exchanges. Employers are jumping on the bandwagon by moving away from group coverage toward defined contribution models that also send people to an exchange to buy their own health insurance. This new market dynamic, where individual consumers now prevail, will be highly disruptive. At the same time, we’ll see excellent opportunities for venture investors and emerging technologies. Read More

Psilos Group Aims for ‘Consumer-Centric’ Health Insurance Technology

By | NEWS | No Comments

Story appears in WSJ.com
Health-care investor Psilos Group has been closely monitoring the health-insurance business for the past 16 years, and he says the industry is moving toward a new paradigm.

The passage of health-care reform, which brought millions of new consumers into the system and mandated that insurers find a way to cover everyone, only accelerated a trend that was already happening, Psilos Chief Operating Officer and Managing Member Stephen Krupa said. Read More

Insurers Must Change – and Embrace mHealth – To Survive

By | NEWS | No Comments

Story appears in mHealthNews.com
A major healthcare investment firm says the insurance industry will have to abandon its 50-year-old business plan and embrace mHealth, among other changes, to survive.

The key to that transition lies in the shift to consumer-directed healthcare. According to Steve Krupa, managing member of the New York-based Psilos Group, insurers need to ditch their “business-to-business” model and target two new partners: the individual consumer and the healthcare provider.

Report: Health Insurance Industry Will Be ‘Flipped on its Head.’

By | NEWS | No Comments

Story appears in MedCityNews
The world of health insurance is about to be turned on its head.

Even with the well-known shifts brought on by the ACA, the fundamental business model for health insurers will change dramatically, shifting largely from serving employers and group business to serving individuals who demand a level of customer service not previously offered by many of the nation’s top insurers, according to a new report. Read More

Investing in Medical Devices: Interview with Venture Capitalist Dave Eichler of Psilos

By | NEWS | No Comments

Story appears in medGadget.com
Many of our readers either use medical devices on a daily basis or are inventing new ones. Those in the latter group likely already have seen the bleak developments in the med device space, such as the Affordable Care Act’s excise tax (2.3%) and the lowest amount of investing dollars in the space in nearly a decade. We had the opportunity to speak with Dave Eichler of the Psilos Group, a healthcare investment firm, about the current landscape and why he thinks it’s improving. Read More

Investor Weighs in On Digital Health Startup’ Relevancy, Immediate Opportunities

By | NEWS | No Comments

Story appears in MobiHealthNews.com
“We are about to have a significant flip in the competitive dynamics of healthcare,” Steve Krupa, managing member and Chief Operating Officer, of healthcare investment firm Psilos told MobiHealthNews in a recent interview. “It’s going to be quite severe and shocking across the board for the big and small players delivering health insurance, providers, and consumers, ultimately. This is a result of ObamaCare, really, but also of everything that is going on in healthcare today.” Read More

How to Invest Like a VC in the Hottest Technology

By | NEWS | No Comments

Story appears in CNBC.com
If you want to get ahead of the pack in placing your technology bets, following venture capital money is a good strategy. Venture capitalists spend months parsing pitches from eager young start-ups, trying to figure out which have the potential to be the next Facebook, Google or WhatsApp. Right now VC investors are particularly flush with investment ideas and dollars. Read More

HealthEdge Celebrates the Opening of its New Corporate Headquarters

By | NEWS | No Comments

State and local dignitaries celebrate the company’s remarkable growth and dedication to Burlington, MA alongside executives and employees at the ribbon cutting ceremony

HealthEdge®, provider of the only integrated financial, administrative and clinical platform for healthcare payors, today announced that it celebrated the opening of its new corporate headquarters at a ribbon cutting ceremony attended by numerous state and local dignitaries on November 26. Notable guests included Congressman John Tierney, State Representative Ken Gordon, Burlington, MA town executives and Board members from the Burlington Area Chamber of Commerce. Read More

Miraculins Announces 2014 Plans for its Scout DS Non-Invasive Diabetes Screening Technology

By | NEWS | No Comments

Miraculins Inc. (TSX-V:MOM), (”Miraculins” or the “Company”) a medical diagnostic company focused on acquiring, developing and commercializing diagnostic and risk assessment technologies for unmet clinical needs, is pleased to announce its plans for the Scout DS® non-invasive diabetes screening technology for the upcoming fiscal year, which will include U.S. regulatory activity and expected sales expansion within Canadian pharmacy and employee health screening markets.

PatientTouch® Receives Certification Supporting Meaningful Use

By | NEWS | No Comments

– First-ever certified smart point-of-care mobile solution to help hospitals attest for Meaningful Use incentives

SAN DIEGO, Calif. – October 10, 2013 – PatientSafe Solutions, a leader in point-of-care patient safety clinical workflow applications, announced today that its PatientTouch System 3.2.2 and PatientTouch System 3.3 have received ONC 2014 Edition Modular EHR Certification from the Certification Commission for Health Information Technology (CCHIT®), an ONC-ACB, in accordance with applicable eligible hospital EHR technology criteria adopted by the Secretary of Health and Human Services. This certification will help hospitals that use the PatientTouch platform to attest for Meaningful Use Stage 2 criteria. Read More

Fifth Street Technology Partners Closes HealthEdge Transaction in Conjunction with Silicon Valley Bank

By | NEWS | No Comments

Fifth Street Management LLC (“Fifth Street”) today announced that its venture lending group, Fifth Street Technology Partners, has worked with Silicon Valley Bank (“SVB”) to refinance an existing credit facility and provide additional growth capital for HealthEdge Software, Inc. (“HealthEdge”), a company that provides an integrated financial, administrative and clinical platform for healthcare payors. The transaction consisted of a $17.5 million second lien term loan from Fifth Street Finance Corp. (NASDAQ:FSC) and a revolver from SVB. HealthEdge is a portfolio company of Psilos Group Managers, LLC (“Psilos”), a healthcare investment firm focused on providing venture and growth capital to companies operating in the healthcare sector.

OmniGuide Surgical Introduces ELEVATETM ENT System  

By | NEWS | No Comments

Innovative Surgical Solution for ENT Surgeons Allows for Faster Cutting and Reduces Fatigue, Improves Comfort

CAMBRIDGE, Mass. – September 29, 2013 – OmniGuide Surgical, a leading developer of advanced energy surgical products, today announced the market introduction of the ELEVATE ENT System, a new product for ENT surgeons. The latest innovation, utilizing OmniGuide’s proven CO₂ laser technology, will be on display in booth # 2140 at the American Academy of Otolaryngology (AAO) meeting in Vancouver from September 29 through October 2, 2013.

HealthEdge Survey Shows Healthcare Payors Remain Burdened By Legacy Technology

By | NEWS | No Comments

“State of the Payor” industry survey finds continued interest in new business models, transparency, mobile and direct-to-consumer offerings, despite struggles with outdated technology and manual processes

Burlington, MA, September 25, 2013 — HealthEdge, provider of the only integrated financial, administrative and clinical platform for healthcare payors delivered via the HealthEdge Cloud or on-site deployment, today announced that findings from the latest “State of the Payor” industry survey show that payors continue to struggle with their outdated technology solutions as they explore new ways to compete in the rapidly evolving healthcare marketplace. The survey of more than one hundred healthcare industry executives from across the country confirms the growing desire among payors to evolve their businesses and adopt next-generation healthcare business models. At the same time, however, many respondents indicated that their existing systems will not effectively support new plan designs, payment reform approaches and increased organizational transparency requirements as well as a number of other key goals. Read More

PatientSafe Solutions Raises Strategic Investment from Singapore Fund EDBI to Expand Presence into Global Markets

By | NEWS | No Comments

PatientSafe Solutions, a leader in point-of-care patient safety clinical workflow applications, today announced that it has closed a strategic investment from EDBI, the investment arm of the Singapore Economic Development Board, bringing its total Series C funding to $27 million. The round is led by Merck Global Health Innovation Fund with participation from Camden Partners, TPG Biotech, and Psilos Group. Read More

Gamma Medica Closes Series A Financing from Psilos Group

By | NEWS | No Comments

Capital Will Be Used To Expand Commercialization of the LumaGEM MBI System To Detect Early Cancers in Women with Dense Breast Tissue

SALEM, NH (July 16, 2013) – Gamma Medica, Inc., dedicated to improving patient health through early diagnosis of breast cancer, today announced that it has closed a $16 million Series A financing round from healthcare investment firm Psilos Group Managers, LLC (“Psilos”). This investment will enable Gamma Medica to expand commercialization of the LumaGEM(R) Molecular Breast Imaging (MBI) system and its companion product the LumaGUIDE(R) MBI-guided biopsy module. Read More

Mobile Technology: Beyond Bedside Meds Administration at Colorado’s Parkview

By | NEWS | No Comments

At Parkview Medical Center, patient safety and care coordination in real time is made easier thanks to a single mobile device.

In 2007, Pueblo, Colo.-based Parkview Medical Center started using bedside medication administration technology from IntelliDOT Corporation, a vendor in San Diego that specialized in healthcare workflow management solutions. In 2009, IntelliDOT became Patient Safe Solutions, which unveiled its PatientTouch solution, created for Apple’s newest iPod touch—a WiFi-enabled device. Read More

Miraculins Executes Final Agreement to Acquire VeraLight’s SCOUT DS

By | NEWS | No Comments

Miraculins Inc. (TSX-V:MOM), (“Miraculins” or the “Company”), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, is pleased to announce that it has executed a final purchase agreement with VeraLight, Inc. (“VeraLight”) on June 28, 2013, to acquire all of the relevant assets, including intellectual property, licenses and regulatory approvals, inventories, data and marketing materials, relating to VeraLight’s SCOUT DS® technology, a ground-breaking diabetes screening technology that non-invasively measures changes in the composition of a person’s skin indicative of pre-diabetes and type 2 diabetes. Read More

HealthEdge and NTT DATA Build on Strong Partnership

By | NEWS | No Comments

Combination of next-generation technology and shared service delivery drive successful transitions to HealthRules® for a growing list of HealthEdge customers

HealthEdge®, provider of the only integrated financial, administrative and clinical platform for healthcare payors, today announced that its continued partnership with NTT DATA, Inc., a leading IT services provider, is helping a growing list of HealthEdge customers, including Independent Health and Riverside Health, achieve a successful transition to the HealthRules product suite. Read More

AngioScore Announces PMA Supplement Approval Following Coronary Bifurcation Trial Results

By | NEWS | No Comments

AngioScore, Inc., a developer of novel angioplasty catheters for use in the treatment of cardiovascular disease, today announced that the FDA has approved a Pre-market Approval Supplement (PMAS) labeling change allowing inclusion of a summary of the AGILITY Coronary Bifurcation Trial results in the AngioSculpt® PTCA Scoring Balloon Catheter Instructions for Use (IFU).

Experts ID 10 Hot Healthcare Investment Opportunities

By | NEWS | No Comments

Panelists at the Health Industry Council’s recent Southwest Transactions conference in Dallas identified 10 promising areas for health investment:

Health insurance exchanges: Dave Eichler, managing member for Psilos Group Managers in New York City, said his company invested six years ago in Medicare exchange company Extend Health, which was sold to Towers Watson. He said Extend Health was successful because Medicare is a guaranteed revenue stream. He said he is unable to predict the impact of exchanges under the Affordable Care Act, but “there will be a big migration.”

Miraculins Executes Term Sheet to Acquire VeraLight’s SCOUT DS Technology

By | NEWS | No Comments

WINNIPEG, Manitoba – April 15, 2013 – Miraculins Inc. (TSX-V:MOM), (“Miraculins” or the “Company”), a medical diagnostic company focused on acquiring, developing and commercializing diagnostic tests and risk assessment technologies for unmet clinical needs, is pleased to announce that it has signed a non-binding term sheet (“Term Sheet”) with VeraLight, Inc. (“VeraLight”) to acquire all assets related to the SCOUT DS® technology, a groundbreaking diabetes screening technology that non-invasively measures changes in a person’s skin indicative of prediabetes and type 2 diabetes, enabling cost-effective, easily accessible screening of those at risk.

Gamma Medica’s LumaGem Business Acquired by Psilos Group

By | NEWS | No Comments

The LumaGEM® Molecular Breast Imaging (MBI) business of Gamma Medica, Inc. has been acquired through a chapter 11 sale by Imaging Acquisition Inc., an entity controlled by healthcare growth equity firm Psilos Group Managers, LLC. Molecular breast imaging is an adjunct technology to mammography which radiologists use to help diagnose cancerous lesions in women with dense breast tissue. Already used in 15 prestigious medical institutions and clinical practices throughout the U.S., the acquisition and investment by Psilos will enable the more focused company to meet the rapidly growing demand for LumaGEM®.

PatientSafe and Meritus Medical Center Partner to Improve Nursing Workflow and Patient Safety

By | NEWS | No Comments

PatientSafe Solutions, a leader in smart point-of-care mobile solutions, today announced it has partnered with Meritus Medical Center to implement the PatientTouch™ platform throughout the hospital. PatientTouch enhances an existing electronic medical record installation with an interoperable, PatientSafe Solutions-developed hardware and software solution that enhances patient safety, reduces waste, and improves staff productivity and satisfaction. PatientSafe and Meritus Medical Center are currently rolling out PatientTouch across the hospital’s 272-bed hospital facility in Hagerstown, Maryland.

When payers know better, they’ll do better

By | NEWS | No Comments

Maya Angelou and health insurance companies are rarely–if ever–associated with one another. But I would like to bridge that extremely wide gap and even declare that payers can learn some very important lessons from the sage poet.

“When you know better, you do better” is one of Angelou’s famous quotes. It of course applies to individuals’ personal lives, but I propose it also holds true across the health insurance industry.

AngioScore Launches New 100 mm Length AngioSculpt® Scoring Balloons For Treatment of Peripheral Artery Disease Below The Knee

By | NEWS | No Comments

AngioScore, Inc., a developer of novel angioplasty catheters for use in the treatment of cardiovascular disease, today announced the launch of its new 100 mm length AngioSculpt PTA Scoring Balloon Catheters for the treatment of peripheral artery disease (PAD) below the knee (BTK). T

hese new AngioSculpt catheters have received U.S. Food and Drug Administration (FDA) 510(k) clearance to market for the dilatation of lesions in the iliac; femoral; iliofemoral; popliteal; infra-popliteal; and renal arteries, and for the treatment of obstructive lesions of native or synthetic arteriovenous dialysis fistulae. They are not labeled for use in the coronary or neurovasculature. Read More

Mauna Kea Technologies Announces Major Step Forward for Reimbursement of Cellvizio Optical Biopsies Performed in Ambulatory Surgery Centers

By | NEWS | No Comments

Optical biopsies added to U.S. Centers for Medicare and Medicaid Services approved procedures list

Mauna Kea Technologies (NYSE Euronext: MKEA), leader in the optical biopsy market and developer of Cellvizio®, the fastest way to see cancer, announced today that Cellvizio procedures in the upper GI tract have been added to the Ambulatory Surgical Center (ASC) approved procedure list. Ambulatory Surgical Centers are health care facilities focused on providing same-day surgical care, including diagnostic and preventative services, often times found to be more convenient than hospital-based outpatient procedures. The U.S. Centers for Medicare and Medicaid Services (CMS) has approved the payment rate of $520 per previously-awarded Category 1 Current Procedural Terminology (CPT®) codes for the use of Cellvizio® during endoscopy procedures in the upper gastrointestinal tract. Read More

HealthEdge Awarded Best of Show at 2012 Healthcare IT Summit

By | NEWS | No Comments

Burlington, Mass. – Nov. 19, 2012 – HealthEdge®, provider of the only modern, enterprise-class software platform for healthcare payors, today announced that the company has won the 2012 Healthcare IT Summit XCellence “Best of Show” award. Hosted by XChange Events, the Healthcare IT Summit XCellence Awards measure information technology (IT) decision makers’ perceptions of vendor products and services, presentations and presence during the conference. Read More

Health Care Law’s Impact on Businesses Varies

By | NEWS | No Comments

WASHINGTON — Companies specializing in driving down spending on health care, whether through electronic records, preventive care or consolidating services, are turning out to be the biggest winners from the 2010 health care law.

Investors, analysts and policymakers say any business that can help health care providers cut costs or keep patients from being readmitted to the hospital soon after an in-patient visit is attracting more customers and seeing more investment. Read More

HealthEdge “Talks Back” About Accountable Care Organizations

By | NEWS | No Comments

Burlington, Mass. – September 18, 2012 – HealthEdge®, provider of the only modern, enterprise-class software platform for healthcare payors, today announced the latest installment in their online video series, “HealthEdge Talks Back,” that covers Accountable Care Organizations (ACOs), and their impact on the payor market. As ACOs become more widespread, payors must develop an understanding of what the key elements are of this important business model. Read More

Hudson Health Plan Selects HealthEdge To Bring A New Level of Agility to it’s Core Claims and Administration Platform

By | NEWS | No Comments

Burlington, Mass. – September 10, 2012 –HealthEdge®, provider of the only modern, enterprise-class software platform for healthcare payors, today announced that Hudson Health Plan (Hudson) of Tarrytown, NY has selected the HealthRules software suite as its new core claims and administration platform. Hudson chose HealthRules, after a rigorous review process, to drive new levels of agility, compliance and transparency throughout its organization. Read More

Al Waxman: A Call To Arms: Innovation Is The Solution to The Healthcare Crisis

By | NEWS | No Comments

Even though the Supreme Court upheld the Affordable Care Act, it is clear that the healthcare crisis is this country is not over. While the ACA is focused primarily on expanding health coverage, it misses the two other very real problems: controlling costs and improving quality.

What America really needs are transformational changes that can eliminate waste, bring down costs, enhance quality, and increase accountability. Frankly, that’s not something the ACA or the Supreme Court ruling ever adequately addressed. Read More

Forbes: Three Health Technology Companies To Watch

By | NEWS | No Comments

Last week, Towers Watson bought Extend Health, which allows retirees to choose from thousands of private Medicare plans according to their needs, instead of having their employer make the decision. Towers paid $435 million. One of the winners in that transaction was venture capital firm Psilos, which made in five years 10 times its investment in Extend Health— an unusual occurrence in health IT. Read More

Towers Watson to Acquire Extend Health

By | NEWS | No Comments

Transaction brings together Towers Watson’s benefits expertise and experience with Extend Health’s largest private Medicare exchange, allowing employers to provide a cost-effective benefit and retirees to increase plan choice and buying power.

NEW YORK and SAN MATEO, May 13, 2012 — Towers Watson (NYSE, NASDAQ: TW), a global professional services company, announced today that it has signed an agreement to acquire Extend Health, Inc., which operates the largest private Medicare exchange in the United States. We believe that this combination of two market leaders will provide innovative, best-in-class health care solutions that combine specialized retiree medical transition consulting with the choice and cost advantages of individual Medicare plans purchased on a private exchange. The two organizations announced a strategic alliance last August. Read More

PSILOS GROUP, A Premier Healthcare Investment Firm Says Consumers Are Getting More Engaged With Their Health and Engagement Is Critical to Solving Current Healthcare Crisis

By | NEWS | No Comments

NEW YORK, NY and CORTE MADERA, CALIF. – April 17, 2012 –Consumers are becoming more engaged in their healthcare and want to be financially rewarded for their efforts says healthcare investment firm Psilos Group in their new report called 2012 PSILOS Outlook on Healthcare Economics & Innovation. PSILOS says that incentive programs and personalization are critical factors for enticing consumers to be more active in the day-to-day management of their health and wellness, and lowering the overall cost burden of healthcare today. Read More