Interoperability in the U.S. healthcare system has been an ongoing challenge. While there are several industry initiatives that are going to advance the industry and make incremental progress toward interoperability, there remain several gaps that are unaddressed. Interoperability is a much broader concept that encompasses more than protocols, APIs, and limited networks. It’s about more than exchanging data through one-to-one connections between a provider, payer, or vendor. True
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InstaMed
Digital Documentation: How PDFs Can Help Providers Expedite Care
We live in an increasingly digital world. Across industries, companies and consumers have come to rely on the rapid exchange of digital information. Healthcare, however, has been an outlier in this regard. While the healthcare digital transformation has been in play for years, it’s still taken longer for the paradigm shift to gain momentum. Healthcare stakeholders have long relied on paper-based processes. From documenting clinical care to filing medical claims and registering patients, paper
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Top 60 Health IT/Digital Health Mergers & Acquisitions in 2019
- From Google's acquisition of Fitbit to Philips acquisition of Carestream Health's health IT business, here is a look at some of the biggest health IT/digital health mergers & acquisitions in 2019 by each quarter. Q1 M&A Activity Johnson & Johnson Acquires Auris Health for $3.4B to Expand Digital Surgery Portfolio Johnson & Johnson acquiresAuris Health, a developer of robotic technologies for $3.4 billion in cash. Auris Health is a privately-held developer of
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Global Digital Health VC Funding Breaks $5.1B in First Half of 2019
Global venture capital (VC) funding in digital health/health IT, including private equity and corporate venture capital, reach $5.1 billion in the first half of 2019, according to market research firm Mercom Capital. The 1H and Q2 2019 Digital Health (Healthcare IT) Funding and M&A Report reveals $5.1B in funding across 318 deals compared to $4.9B across 383 deals in 1H 2018. Q2 2019 VC funding held strong at $3.1 billion in 169 deals following the $2 billion raised in 149 deals in Q1 2019.
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JPMorgan Chase to Acquire Healthcare Payments Solution InstaMed
JPMorgan Chase & Co., today announced its plan to acquire InstaMed, a Philadelphia-based healthcare payment network provider connecting providers, payers, and consumers on one platform. The acquisition will expand the bank's suite of payment services designed specifically for healthcare consumers, providers, and payers.Why InstaMed?U.S. healthcare spending is over $3 trillion and is challenged by significant transaction friction and inefficiency. Legacy approaches to bill pay, claims
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InstaMed Launches Blockchain App Prototype for Healthcare Payments
InstaMed, a healthcare payments network, announced that it released a blockchain app prototype to demonstrate how blockchain technology could be leveraged for the interaction points among providers, payers and consumers including claim submission, claim adjudication, claim payment, patient billing, and patient payment. InstaMed built the blockchain prototype on HL7 FIHR v4. Full Visibility into Full Lifecycle of A Patient EncounterProviders and payers nationwide are challenged to find ways to
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Connecticut Children’s Medical Center Taps InstaMed to Deliver Integrated Patient Payment Experience
Connecticut Children’s Medical Center, a Hartford, CT-based not-for-profit children’s hospital has selected InstaMed to deliver a fully integrated patient experience that allows guarantors to quickly and easily pay their medical bills anytime, anywhere. InstaMed enables providers to collect more money from patients and payers while reducing the cost and time to collect.The organization sought a solution that seamlessly integrated within their Epic system and met the highest levels of security
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InstaMed Lands $50M for Healthcare Payment Network
InstaMed, a Philadelphia-based healthcare payment network provider connecting providers, payers and consumers on one platform has raised $50 million in funding led by Carrick Capital Partners. The company plans to utilize the funding to accelerate the growth of the InstaMed Network, accelerate go-to-market strategy and drive further innovation in healthcare payments technology. As part of the latest round of funding, Jim Madden, Co-Founder and Managing Director of Carrick Capital Partners
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InstaMed Brings Apple Pay to Healthcare For First Time
Nearly 20 percent of U.S. consumers with credit records — 42.9 million people — have unpaid medical debts, according to the Consumer Financial Protection Bureau. With mobile payments expected to reach grow from $52 billion in 2014 to $142 billion by 2019, the healthcare industry must leverage simple, secure and private payment solution as more consumers enroll in high deductible health plans. To address the growing consumer need for mobile payments, InstaMed, a healthcare payment network
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