In 2020, the Department of Justice estimated that fraudulent, wasteful, and abusive (FWA) billing practices account for more than $100 billion of the nation’s healthcare expenditures.1 Today, the National Healthcare Anti-Fraud Association (NHCAA) conservatively estimates that healthcare FWA costs the nation about $68 billion annually, representing 3% of the nation's $2.26 trillion in healthcare spending.2 FWA estimates from commercial health plans range as high as $230 billion annually, or
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Digital Health | News, Analysis, Insights - HIT Consultant
Analysis: Sharecare Poised for Re-Acceleration, 1Q Results
What You Should Know:
On 5/10/23, BMO, Sharecare (SHCR) delivered what appear to be, good 1Q results. Revenue of $116.3M + 15.5% y/y, compares to BTIG / FactSet consensus of $111M / $110.9M and adjusted EBITDA of $2.1M compares to BTIG /consensus of $1.2M / $1.2M. 1Q revenue exceeded the guidance range of $111M- $113M.Given the top-line beat we are optimistic that revenue guidance is conservative. Management increased 2023 revenue guidance from $450-$460M to $452.5M-$460M and 2023 adjusted
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Amino Health Secures $80M for Healthcare Guidance Platform
What You Should Know:
Amino Health, the leading digital healthcare guidance company, today announced $80 million in both equity and debt financing led by Transformation Capital and Oxford Finance LLC, respectively.In the face of declining digital health investment, this funding underscores the success of Amino Health's proven model and enables the company to scale its technology and continue its strong growth trajectory.
Funding to Lead to Broadening of Amino
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Lucem Health Secures $7.7M for Agnostic AI-Powered Platform
What You Should Know:
Lucem Health, a Mayo Clinic Platform portfolio company, has closed a Series A venture capital funding round of $7.7M led by Mayo Clinic, Granger Management and Mercy (St Louis).Lucem Health helps clinical AI innovators transform data science into innovative, trusted solutions that can detect diseases earlier and optimize care delivery, positively impacting patient lives, improving the physician and provider experience, and ultimately producing improved
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Aegis Ventures, Northwell Launch Optain for AI-Powered Retinal Imaging
What You Should Know:
Today Ascertain, the partnership between Aegis Ventures and Northwell Holdings, announced a $12M seed funding round to launch its first company, Optain, an artificial intelligence (AI) company leveraging retinal imaging to non-invasively assess patient health.With this $12 million investment, Optain is the first company launched by Ascertain, Aegis Ventures and Northwell Holdings’ partnership to develop healthcare AI companies at scale.
AI Retinal Imaging to
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DEA Extends COVID-19 Telemedicine Flexibilities for Prescribing Controlled Medications for 6 Months
What You Should Know:
Today, the Drug Enforcement Administration (DEA) and the Substance Abuse and Mental Health Services Administration (SAMHSA) issued the “Temporary Extension of COVID-19 Telemedicine Flexibilities for Prescription of Controlled Medications” – a temporary rule that extends telemedicine flexibilities adopted during the COVID-19 public health emergency (PHE).· The temporary rule will take effect on May 11, 2023, and extends the full set of telemedicine flexibilities
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Emory Taps NeuroFlow to Scale Collaborative Care Model
What You Should Know:
Emory Healthcare (EHC) today announced a partnership with NeuroFlow to support and improve the delivery of psychiatric services for both patients and providers at their Brain Health Center and several sites across Georgia.NeuroFlow, which offers a cloud-based registry and enterprise platform to help facilitate collaborative care, will support EHC clinical services’ data-driven approach to patient care, with a sharpened focus on improving communication
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Apple Watch, Wearables Can Monitor & Access Psychological States
What You Should Know:
Researchers at the Icahn School of Medicine at Mount Sinai found that applying machine learning models to data collected passively from wearable devices can identify a patient's degree of resilience and well-being. The study, published in JAMIA Open, supports the use of wearable devices, such as the Apple Watch, to monitor and assess psychological states remotely.The researchers note that mental health disorders account for 13 percent of the burden of global disease and
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Q/A: CalmWave CEO Talks Leveraging AI to Reduce Alarm Fatigue
What You Should Know:
Healthcare providers face the difficult challenge of coping with an ever-increasing workload while still providing high-quality patient care and trying to retain their staff. As the CEO of CalmWave, Inc., Ophir Ronen is an expert in both patient outcomes and staff retention who understands the importance of leveraging AI technologies to reduce alarm fatigue and deliver more efficient quiet care.
Delivering Efficient Care by Reducing Alarm Fatigue
Alarm fatigue is
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FDA Clears Samsung’s Irregular Heart Rhythm Notification
What You Should Know:
Today, Samsung announced today its Irregular Heart Rhythm Notification feature of the Samsung Health Monitor App has been cleared by the FDA. With this new feature, Galaxy Watch users can be alerted when heart rhythms suggestive of atrial fibrillation (AFib) – a type of arrhythmia – are detected.The Irregular Heart Rhythm Notification works with the app’s existing on-demand Electrocardiogram function to proactively monitor heart rhythms suggestive of AFib, and
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