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Philips | News, Analysis, Insights - HIT Consultant

Epic, Galen Healthcare, Chartis Group Named 2020 Overall Best in KLAS Awards

by Fred Pennic 02/02/2021 Leave a Comment

Epic, Galen Healthcare, Chartis Group Named 2020 Overall Best in KLAS Awards

What You Should Know: - Epic was named the top Overall Software Suite for the eleventh consecutive year in the Best in KLAS 2021 Software & Services report, released today, which reports on the top vendors for 2020. Epic was also named the top Overall Physician Practice Vendor. Galen Healthcare Solutions was named the top Overall IT Services Firm. The Chartis Group earned the award of top Overall Healthcare Management Consulting Firm, edging out last year’s winner,
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From Analog to Digital Neurology: 3 Steps to Better Inform Patient Care

by Dr. Nandor Pinter, Director of Neuroimaging Research, DENT Institute & Dr. Murray Gillies, General Manager of Digital Cognitive Dx Venture, Philips 01/26/2021 Leave a Comment

From Analog to Digital Neurology: 3 Steps to Better Inform Patient Care

The field of neurology is at an inflection point. With a growing aging population, neurologists are facing an increasing number of patients needing care, and the pent-up demand for services due to COVID-19 only exacerbates this issue. The pressure on neurologists is enormous, with surveys indicating excessive stress caused by inefficient workflow and mounting paperwork 1,2. It is becoming increasingly clear that the traditional analog neurological exam and referral system is overwhelmed, and
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Philips Acquires Medical Device Integration Platform Capsule for $635M

by Fred Pennic 01/19/2021 Leave a Comment

Philips Acquires Medical Device Integration Platform Capsule for $635M

What You Should Know: - Philips announces the acquisition of Capsule, a leading vendor-neutral Medical Device Integration Platform with a software-as-a-service business model - The Capsule acquisition is a strong fit with Philips’ strategy to transform the delivery of healthcare along the health continuum with integrated solutions. Philips, today announced that it has signed an agreement to acquire Capsule Technologies, Inc., an Andover, MA-based provider of medical device
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3 Steps to Maintain Telehealth’s Momentum Post-Pandemic

by Karsten Russell-Wood, Portfolio Leader for Post-Acute and Home, Philips 01/19/2021 Leave a Comment

3 Steps to Maintain Telehealth’s Momentum Post-Pandemic

In the face of COVID-19, healthcare witnessed how crises can become the long-awaited push for creativity and innovation that the industry needs. When our healthcare infrastructure’s weaknesses were exposed, telehealth helped to stitch them up, with the number of telehealth claims increasing 8,336% nationally from April 2019 to April 2020. Out of need, patients quickly turned to telehealth as a new model of care delivery; clinicians adapted to a new avenue for engaging with patients, policymakers
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IoMT Is Improving Patient Access: We Must Avoid Creating New Barriers

by Elza Seregelyi, Director at L-SPARK and Heidi Sveistrup, CEO at Bruyère Research Institute 01/18/2021 Leave a Comment

IoMT Is Improving Patient Access We Must Avoid Creating New Barriers

The Internet of Medical Things (IoMT) is changing the face of healthcare and has the potential to significantly improve patient access as well as system efficiencies. The adoption of telemedicine, for example, spurred on by the Covid-19 pandemic, has spread rapidly.  Forrester revised its forecasts to predict that virtual care visits in the United States will soar to more than one billion this year—including 900 million visits related to Covid-19 specifically. Likewise, in the United Kingdom,
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2020’s Top 20 Digital Health M&A Deals Totaled $50B

by Fred Pennic 12/31/2020 Leave a Comment

2020’s Top 20 Digital Health M&A Deals Totaled $50B

Teladoc Health and Livongo Merge The combination of Teladoc Health and Livongo creates a global leader in consumer-centered virtual care. The combined company is positioned to execute quantified opportunities to drive revenue synergies of $100 million by the end of the second year following the close, reaching $500 million on a run-rate basis by 2025. Price: $18.5B in value based on each share of Livongo will be exchanged for 0.5920x shares of Teladoc Health plus cash consideration of
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DoD Awards $2.8M to Philips & BioIntelliSense to Validate Wearable for Early COVID-19 Detection

by Jasmine Pennic 12/23/2020 Leave a Comment

DoD Awards $2.8M to Philips & BioIntelliSense to Validate Wearable for Early COVID-19 Detection

What You Should Know: - Philips and BioIntelliSense has been selected by the U.S. Army Medical Research and Development Command (USAMRDC) to receive nearly $2.8M from the U.S. Department of Defense (DoD) to validate BioIntelliSense’s FDA-cleared BioSticker device for the early detection of COVID-19 symptoms. - Working with the University of Colorado Anschutz Medical Campus, the clinical study will consist of 2,500 eligible participants with a recent, known COVID-19 exposure and/or a
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M&A: Philips Acquires Remote Cardiac Monitoring BioTelemetry for $2.8B

by Fred Pennic 12/18/2020 Leave a Comment

M&A: Philips Acquires Remote Cardiac Monitoring Platform BioTelemetry for $2.8B

What You Should Know: - Philips acquires BioTelemetry, a U.S. provider of remote cardiac diagnostics and monitoring for $72.00 per share for an implied enterprise value of $2.8 billion (approx. EUR 2.3 billion). - With $439M in revenue in 2019, BioTelemetry annually monitors over 1 million cardiac patients remotely; its portfolio includes wearable heart monitors, AI-based data analytics, and services. - BioTelemetry business is expected to deliver double-digit growth and improve its
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Philips Launches Integrated Cybersecurity Services to Protect Connected Medical Devices

by Jasmine Pennic 11/30/2020 Leave a Comment

Philips Launches Integrated Cybersecurity Services to Protect Connected Medical Devices

What You Should Know: - Philips partners with CyberMDX, a leader in connected medical device security, to provide vendor-neutral solutions to protect connected medical systems and devices. Philips, today announced the introduction of the Philips Cybersecurity Services for seamlessly integrating and enhancing strategic security solutions for Philips customers. The Philips Cybersecurity Services comprise an end-to-end suite of technologies and services to
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The Future of the ICU? How Clinical Decision Support Is Advancing Care

by Kelly Patrick, Principal Analyst at Signify Research 10/19/2020 Leave a Comment

The Future of the ICU? How Clinical Decision Support Is Advancing Care

Without a doubt 2020 has been a devastating year for many; the impact of COVID-19 on both personal lives and businesses has had long-term consequences. At the end of September, the number of COVID-19 cases fell just short of 350 million, with just over 1 million deaths reported. The expectation of a second peak in many countries exposed to the deadly illness is being handled with care, with many governments attempting to minimize the impact of an extreme rise in cases.   COVID-19
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