– Healthcare Growth Partners’ (HGP) summary of Health IT/digital health mergers & acquisition (M&A) activity, and public company performance during the month of July 2020.
While a pandemic ravages the country, technology valuations are soaring. The Nasdaq hit an all-time high during the month of July, sailing through the 10,000 mark to post YTD gains of nearly 20%, representing a 56% increase off the low water mark on March 23. More notably, the Nasdaq has
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Top 3 Priority Areas for Healthcare CIOs in the Age of COVID-19
What You Should Know:
- In the age of COVID-19, healthcare CIOs cite interoperability,
cybersecurity, and operationalizing SDOH data priorities as top three priority
areas, according to the third annual LexisNexis focus group of CHIME
executives.
- The survey results also highlighted the importance of
a team approach with support across the organization in helping CIOs
achieve the vision of connected healthcare.
The Health Care business of LexisNexis® Risk
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Cohere Health Launches with $10M to Increase Transparency Across Care Journey
What You Should Know:
- Boston-based health IT start-up Cohere Health announced the official launch of its company with a $10 million Series A funding round led by Flare Capital Partners.
- The company’s patient journey-focused platform improves the notoriously difficult prior authorization process and replaces an existing patchwork of legacy, siloed processes, and antiquated technologies that contribute to the enormous administrative burden for physicians and health plans.
- The end
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HGP Semi-Annual Health IT Market Review: 6 Key Trends to Know
Healthcare Growth Partners, an
Investment Banking and Strategic Advisory firm exclusively focused on the
transformational health
IT market, today announced the release of its Semi-Annual Health IT Market
Review report that summarizes M&A and private equity activity across health
IT, health information services, and digital health.
Report Background/Methodology
This edition of the report includes feedback from our survey
of private equity professionals and their response to
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Allscripts, Microsoft Ink 5-Year Partnership to Support Cloud-based Sunrise EHR, Drive Co-Innovation
What You Should Know:
- Allscripts and Microsoft sign a five-year partnership extension to support Allscripts’ cloud-based Sunrise electronic health record and drive co-innovation.
- The alliance will enable Allscripts to harness the power of Microsoft’s platform and tools, including Microsoft Azure, Microsoft Teams, and Power BI, creating a more seamless and highly productive user experience.
Today Allscripts and
Microsoft Corp. announced the
extension of their long-standing
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SwitchPoint Ventures Spins Out AI-Driven Health IT Startup Polaris Health
What You
Should Know:
- SwitchPoint (made up of veteran healthcare leaders with experience at Intermedix/R1 RCM and others) launches a new technology venture, Polaris Health that leverages AI to predict patient demand and create efficient clinician schedules that align with this demand.
- Polaris Health’s solution utilizes
proprietary machine learning algorithms to predict provider demand, distribute clinician resources to meet that
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Give Your EHR a Makeover—Not a Do-Over
David Lareau, CEO of Medicomp Systems
EHRs have long been blamed for fueling clinician frustration and burnout. According to a recent study published in the Journal of Informatics in Health and Biomedicine, 70 percent of clinicians reported experiencing stress related to the use of health information technology. In an effort to address those issues, healthcare organizations have spent countless hours and revenue to rip out inefficient clinical systems and replace them with new
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Black Lives Matter: Health IT Industry, Where Are You?
All lives truly matter. However, the world does not exist in a vacuum void of institutional racism, subconscious, and implicit bias. As a result, every life within America is not valued the same, as is evident by the recent George Floyd murder. When all lives are not treated with the same opportunities and respect, whether in matters of criminal justice, employment, housing, education, health, and healthcare evidence shows the result is that only some lives actually matter. One cannot change the
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SynsorMed, Charles Barkley Foundation Partner to Combat Health Disparities for Black Americans Impacted by COVID-19
What You Should Know:
- Charles Barkley Foundation forms a partnership with health IT company SynsoMed to combat health disparities for Black Americans impacted by the COVID-19 pandemic.
- Launches Save Our Selves (S.O.S) Council, comprised of Black influencers, technologists, healthcare professionals, and policymakers concerned about the health of Black Americans.
SynsorMed, a Birmingham, AL-based provider of remote patient monitoring (RPM) and chronic care management (CCM)
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M&A Analysis: Mednax to Sell its Radiology and Teleradiology Business
Earlier this month saw Mednax announce significant plans to transform its business. Mednax intends to:
- Sell its Mednax Radiology Solutions business, which includes its radiology groups and the teleradiology market leader Virtual Radiologic (vRad).
- Reposition itself as a dedicated pediatrics and obstetrics business, including a return to its original company name, Pediatrix Medical Group.
Mednax made its entrance into the radiology business following the $500m acquisition of vRad in
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