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Fred Pennic, Editor-in Chief | HIT Consultant

Fred Pennic is the Founder and Editor-in-Chief of HIT Consultant.

Israeli Digital Health VC Firm OTV Closes $170M Venture Fund

by Fred Pennic 12/03/2020 Leave a Comment

Israeli Digital Health VC Firm OTV Closes $170M Venture Fund

What You Should Know: - OTV (formerly Olive Tree Ventures), Israel’s ‘digital health first’ venture capital firm closes $170 million venture fund to support innovative digital health companies worldwide. - OTV also announced today a new China office and the appointment of Jose Antonio Urrutia Rivas as Head of Asia Pacific. OTV (formerly Olive Tree Ventures), Israel’s ‘digital health first’ venture capital firm, today announced the closing of a fund with a total value of
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MEDITECH Launches New Subscription-Based Cloud Platform Built on Google Cloud

by Fred Pennic 12/03/2020 Leave a Comment

MEDITECH Launches New Subscription-Based Cloud Platform Built on Google Cloud

What You Should Know: - Today, MEDITECH announced MEDITECH Cloud Platform—a suite of solutions available to healthcare organizations of all sizes that further extend the possibilities of the Expanse EHR. - This offering includes: Expanse NOW, High Availability SnapShot, and Virtual Care solutions, all created to work naturally in the cloud, and available through a subscription model. Today MEDITECH introduced MEDITECH Cloud Platform—a suite of solutions available to
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M&A: Olive Acquires AI Prior Authorization Company Verata Health

by Fred Pennic 12/03/2020 Leave a Comment

Olive Acquires AI Prior Authorization Company Verata Health

What You Should Know: - On the heels of $225.5 million dollars in funding and a $1.5B valuation this week, Olive today announced its acquisition of Verata Health to create a combined AI prior authorization solution for providers and payers under the Olive name. - Prior authorization is a $31 billion dollar issue in healthcare, and one of the top reasons patient care is delayed. Olive is now able to reduce write-offs by over 40% and cut turnaround times for prior authorizations by up to
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AHRQ and Google Pilot New Tool to Help Patients Plan for Medical Visits

by Fred Pennic 12/02/2020 Leave a Comment

AHRQ and Google Pilot New Tool to Help Patients Plan for Medical Visits

What You Should Know: - Built-in collaboration with the Agency for Healthcare Research and Quality (AHRQ), Google is piloting a new tool to help patients plan for medical visits. - The new Google visit planning tool makes it easy for patients and those who care for them to privately list and prioritize their questions in preparation for a medical visit. - The suggested questions, developed by AHRQ as part of its “Questions are the Answer” initiative, is designed to get people thinking
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The Stanford Center for Digital Health Landscape Report

by Fred Pennic 12/02/2020 Leave a Comment

Stanford Center for Digital Health Landscape Report

The Stanford Center for Digital Health recently released the Stanford Center for Digital Health Landscape Report, a first of its kind, comprehensive analysis of digital health efforts across Stanford. The report includes a deep dive into academic literature, detailed research trends, and unique institutional insights from a variety of stakeholders throughout the Stanford ecosystem. The report focuses on four core elements: 1. Literature review of Stanford’s digital health publications
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London-Based uMed Secures $4.8M to Automate & Advance Clinical Research Registries

by Fred Pennic 12/02/2020 Leave a Comment

uMed Clinical Research Registries

What You Should Know: - London-based uMed has raised nearly $4.8m in venture capital funding to help healthcare providers in the UK and US participate in more clinical studies.  - The funding will enable uMed to grow its innovative platform which automates processes in running clinical research registries while ensuring regulatory compliance. Its platform can link some of the richest sources of healthcare data and drive a step-change in how clinical and real-world research is
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Virta Health Reaches Unicorn Status After Raising $65M to Reverse Type 2 Diabetes

by Fred Pennic 12/02/2020 Leave a Comment

Virta Health Reaches Unicorn Status After Raising $65M to Reverse Type 2 Diabetes

What You Should Know: -  Virta just closed a $65 Series D round, to scale its virtual clinic and approach to reversing chronic metabolic conditions (T2D, prediabetes, and obesity) to the masses. - The financing, led by Sequoia Capital Global Equities, also hurdles Virta well into unicorn territory ($1.1B+ valuation), recognizing pre-pandemic growth that has accelerated during the COVID era. Virta Health, a San Francisco, CA-based company delivering the first
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M&A: Imprivata Acquires Patient Privacy Intelligence Company FairWarning

by Fred Pennic 12/02/2020 Leave a Comment

M&A: Imprivata Acquires Patient Privacy Intelligence Company FairWarning

What You Should Know: - Imprivata acquires FairWarning Technologies, a provider of patient privacy intelligence. - The combined solutions will offer healthcare a single Digital Identity platform that integrates role-based access controls, identity governance, and data privacy compliance. Imprivata®, the digital identity company for healthcare, today announced the acquisition of FairWarning Technologies, LLC, a Clearwater, FL-based provider of patient privacy intelligence.
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M&A: CarepathRx Acquires Pharmacy Operations of Chartwell from UPMC for $400M

by Fred Pennic 12/01/2020 Leave a Comment

CarepathRx Acquires Specialty Pharmacy Operations of Chartwell for $400M

What You Should Know: - CarepathRx will acquire the University of Pittsburgh Medical Center’s pharmacy operations in a $400M deal. - The company fully integrates pharmacy operations, expands healthcare services, improves ambulatory access, minimizes clinical variation and creates new health system revenue streams. - CarepathRx serves more than 15 health systems and 600 hospitals, with more than 1,500 employees nationwide, 400 payor contracts. Already CarepathRx has treated more than
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Olive Hits $1.5B Valuation with Additional $225.5M Funding for AI-Powered Digital Employee Platform

by Fred Pennic 12/01/2020 Leave a Comment

Olive, Clinc Partner to Add Coversational AI to Digital Healthcare Employee for Hospitals

What You Should Know: - AI workforce management for healthcare provider Olive lands an additional $225.5M in funding, bringing the company’s valuation to $1.5B. - This latest funding round will enable Olive to accelerate product development, and the company plans to announce more capabilities in 2021 to support the entire healthcare ecosystem. Olive, the company creating the AI workforce for healthcare, today announced an additional $225.5M in financing led by Tiger Global
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