Shares of analytics vendor Inovalon (renamed from MedAssurant in 2012) started trading on the Nasdaq Thursday with a first-day price increase of just under 10 percent. The Bowie, MD-based company’s market capitalization is $3.3 billion. Chairman and CEO Keith Dunleavy, MD, who founded the company, holds 44 percent of the shares, valuing his stake at nearly $1.5 billion.
From Rude Boy: “Re: Epic. They are adding OpenNotes capability to their system.” Verified. Epic will not only add OpenNotes capability to its base product and to MyChart, it will turn the capability on by default. Providers can still choose which notes the patient can see. I’m interested in what other EHR vendors are doing to support OpenNotes since I hear a lot about the concept, but not much about how vendors are retooling their products to support it.
From Chill Wills: “Re: Deloitte. MedCity News blew this story.” Indeed they did, and all they had to do was reword the press release to look like real reporting (i.e., practice normal healthcare IT journalism). Not only did they misinterpret a routine Deloitte announcement about a new EHR consulting package in thinking that the company built and released an actual EHR, they also misspelled “Deloitte” in the article body as well the name of Deloitte’s Mitch Morris. MedCity just sold out to another company, so maybe they were over-celebrating.
From Chiaprism: “Re: HIPAA violations. A hospital nurse claimed I couldn’t stay overnight in my inpatient boyfriend’s room because that would be a HIPAA violation.” It is surprising at how often HIPAA is invoked incorrectly in an attempt to bolster an losing argument. A friend recently tried to make a doctor’s appointment for her 90s-age grandmother and was told by the barely-legal receptionist that it’s a HIPAA violation for someone to make an appointment who doesn’t have the patient’s power of attorney, which is clearly ridiculous. They wanted a faxed copy of the document sent to their fax number, which turned out to be disconnected, so my friend just called up pretending to be her grandmother and the receptionist violated HIPAA herself in providing patient details such as her conditions and medications.
From Matthew Holt: “Re: HIStalkapalooza. I was the one who requested you bring the band from Orlando and am ecstatic they’re back. My first and last time influencing anything on HIStalk! Now I just have to hope I get a party invite!” I was skeptical when Imprivata chose the band as sponsors of last year’s event since I don’t usually like pop cover bands, but Party on the Moon was a big hit and filled the dance floor. I probably would have misguidedly chosen a Finnish death metal band whose lead singer would have crashed hard to the floor as mosh-averse IT-type audience members scattered away from his stage dive landing zone instead of catching him.
Signups are still open to attend HIStalkapalooza on Monday evening of the HIMSS conference. Submit your information if you want to attend – even if you’re a sponsor, long-time supporter, or VIP, I still can’t invite you if I don’t know you want to come. The priority order for invitations is providers in hospitals or physician practices (I generally invite every hospital employee who signs up) and then Platinum-level HIStalk sponsors (they’re guaranteed two tickets each). That still leaves the majority of invitations for other folks who sign up, and if I have enough capacity to invite everyone on the list, I will.
This week on HIStalk Connect: Blueprint Health unveils its newest class of startups. VisualDx rolls out a global emerging diseases tool designed to help doctors diagnose infectious conditions. Noom partners with Viridian Health to advance diabetes care.
This week on HIStalk Practice: DigiSight Technologies raises a new round for ophthalmology. Frontier Behavioral Health goes with CoCentrix EHR. Vermont governor takes VITL to task for its Super Bowl ad. Michigan’s REC achieves MU goals. Azalea Health and Imprivata launch new services. Burgeoning physician social networks highlight healthcare’s fascinating "ick" factor. KiddoEMR CEO Joe Cohen, MD shares frustrations, challenges of private-practice HIT. Brad Boyd offers insight into gauging patient access performance. Thanks for reading.
Welcome to new HIStalk Platinum Sponsor Cureatr. The New York City-based company, founded by a group of physicians, offers the nation’s leading mobile care coordination solution. It provides real-time care transition notifications (including group messaging and photo sharing), cross-platform secure messaging, and clinical workflow tools (including best practice checklists) to eliminate interruptions in care, saving time and money in the process. Providers use an organizational directory to check team member availability and to send urgent messages. One hundred percent of clients report faster response time and improved coordination, with physicians saving an average of 90 minutes per day and nurses saving 60 minutes. Hospitals use it to expedite clinical decision-making and streamline care delivery, specialty care providers benefit from connecting with referring providers and extending their services, and physician groups use it to navigate patient care and influence care decisions. I interviewed founder and CEO Joseph Mayer, MD a year ago, when he said, “The next 12 months is really about what’s coming after messaging. Optimizing the care team mapping side of things, i.e. routing of messages to the right person at the right time, or routing information at the right time beyond messaging, task management.” Thanks to Cureatr for supporting HIStalk.
February 13 (Friday) 2:00 ET. Inside Anthem: Dissecting the Breach. Sponsored by HIStalk. Presenter: John Gomez, CEO, Sensato. The latest intelligence about the Anthem breach will be reviewed to provide a deep understanding of the methods used, what healthcare organizations can learn from it, and how to determine if a given organization has come under similar attacks. Attendees will be able to ask questions and put forth their own thoughts.
February 17 (Tuesday) 1:00 ET. Cloud Computing – Cyber-Security Considerations. Sponsored by Sensato. Presenter: John Gomez, CEO, Sensato. This webinar will examine the security challenges involved when healthcare organizations implement cloud-based services.
Acquisitions, Funding, Business, and Stock
The Advisory Board Company reports Q3 results: revenue up 15 percent, adjusted EPS $0.26 vs. $0.26, beating expectations on earnings and meeting on revenue. Above is the one-year ABCO share price chart (blue, down 13 percent) vs. the Nasdaq (red, up 14 percent). The company’s market capitalization is $2.2 billion.
Advisory Board Chairmen and CEO Robert Musslewhite announces in the company’s earnings call that it has acquired clinically-focused advisory firm Clinovations.
Vocera reports Q4 results: revenue down 14 percent, adjusted EPS –$0.10 vs. $0.03. Above is the one-year VCRA share price chart (blue, down 46 percent) vs. the Dow (red, up 11 percent). The company’s market capitalization is $234 million.
From the Cerner earnings call:
- Bookings for the quarter hit a record $1.16 billion, with 28 percent coming from outside the Millennium customer base.
- Expenses involved with the $1.37 billion Siemens Health Services acquisition will reduce margins by a few percentage points until 2017.
- The company says early purchasers of niche population health solutions are already kicking those products out just 18-24 months later as they look for tools that can aggregate data from multiple systems and insert real-time information into clinician workflow.
- The company’s Siemens-related work will be focused this year on (a) migrating those customers who want to move to Cerner products, and (b) selling the former Siemens customers services such as process optimization and performance improvement.
- Cerner will continue to sell Soarian Financials as a standalone product, saying surprising demand exists for standalone patient accounting applications.
- Cerner plans to go live with some of its Intermountain work in Q1.
Private equity firm Silver Lake acquires Atlanta-based healthcare marketing technology vendor BrightWhistle, which it will merge with its existing portfolio company Influence Health (the former Medseek).
Ocean Health Initiatives (NJ) chooses Forward Health Group’s PopulationManager and The Guideline Advantage.
Hospital CIMA San Jose (Costa Rica) chooses Allscripts Sunrise for its 62 beds.
Announcements and Implementations
Epic announces on Open.epic.com that its FHIR testing sandbox is live, with formal FHIR production support planned for a June release.
PerfectServe signed 29 new client contracts and had 260 go-lives in 2014, with 45,000 clinicians using its communications platform.
Saint Francis Medical Center (MO) begins its Epic implementation, with an expected go-live in July 2016.
Stanford Health Care releases its self-developed iOS 8 mobile app that connects with Epic and Apple’s HealthKit.
Government and Politics
Legislators and providers agreed in a congressional hearing Wednesday that ICD-10 implementation should not be delayed further. Video of the meeting is here. Chairman Fred Upton (R-MI) commented, “The United States is one of the few countries that has yet to adopt this most modern coding system. Australia was the first country to adopt ICD-10 in 1998. Since then, Canada, China, France, Germany, Korea, South Africa, and Thailand – just to name a few – have all also implemented ICD-10. In the United States, Congress, through one vehicle or another, has prevented the adoption of ICD-10 for nearly a decade.”
GAO is accepting nominations through February 27 for openings on the HIT Policy Committee in the areas of consumers, providers, health plans, and quality reporting.
The VA says its Janus viewer, which visually merges a patient’s VA and DoD EHR records on the screen, will be made available to third-party care providers in about a year. The VA will send a service member’s doctor a link rather than attaching full records to an email.
Privacy and Security
A 60-year-old man sends a phony recruiter $4,300, scammed into thinking he was being offered a job with Cerner by email, not finding it unusual that the recruiter demanded that he send money to pay for his company PC before starting work.
AHRQ-funded researchers at UCSD roll out a “lab in a box” that uses a camera, microphone, keystroke monitor, and Microsoft Kinect sensors to measure how EHR use affects patient encounters, such as analyzing how much time doctors spend looking at the screen instead of the patient. The researchers plan to compare distraction levels across practice settings, provide data to help EHR vendors write less disruptive software, and possibly even warn doctors in real time that they aren’t paying enough attention to their patient.
Techcrunch profiles CliniCloud, which has launched a Bluetooth-connected stethoscope and non-contact thermometer kit. Its app is integrated with Doctor On Demand, which provides video chats with doctors to discuss the results. The device will ship in July and can be pre-ordered for $109.
In Chicago, the MedEx ambulance service rolls out 10 ambulances equipped with Google Glass to allow paramedics to live-stream hands-free audio and video to hospitals.
Two Epic technical writers file lawsuits against the company that claim they should have been paid overtime, with both suits seeking class action status. The technical writers say they should have been categorized as hourly rather than salaried employees since their jobs don’t require advanced knowledge or computer expertise. Epic has offered to settle a previous similar suit brought by its quality assurance employees for $5.4 million.
A market research firm says that health IT jobs are harder to fill in New York than anywhere else in the country.
A South Florida “doctor and entrepreneur” launches ClickAClinic, which he says is the state’s only telemedicine services provider that’s licensed as a clinic. I suspected from the use of the title “Dr.” without further explanation that the “doctor” wasn’t an MD, which turned out to be true – he’s a chiropractor. I would never engage any service from someone who uses the title “Dr.” in front of their own name instead of their actual degree since they’re either egotistical or trying to hide something. A lot of MDs (and particularly the wives of male MDs) introduce themselves in purely social situations as “Dr. John Smith” as though the guy at Home Depot or the neighbor down the street really cares.
Facebook rolls out an option that will allow a user to name a “legacy contact” who can explain to breathless followers that the stream of cute videos, quiz results, and click bait “likes” has been sadly interrupted by their faithful curator’s demise.
- Nuance’s Clintegrity 360 Facility Coding topped the “Best in KLAS Awards” in the Medical Coding category that had been dominated by another vendor since 2008. Clintegrity 360 Quality Management Solutions also was named a category leader.
- PatientSafe Solutions President and CEO writes “Prepare for Post-EHR Era with Actionable Data Delivered in Clinical Context.”
- Stella Technology offers “HIE Implementation Tips & Tricks.”
- Healthwise wins international awards for two of its health videos.
- Lifepoint Informatics opens up registration for its User Conference March 18-19 in San Diego.
- LifeImage’s Mike Murphy writes about “Medical Image Exchange for Cancer Care: More Collaboration and a Better Patient Experience” in the latest company blog.
- Kathleen Aller of InterSystems explains that “You CAN Get There from Here: Navigating Interoperability.”
- Intellect Resources President and CEO Tiffany Crenshaw explains in the latest company blog that “Hiring Top Tech Talent Requires an Investment in People.”
- InstaMed asks healthcare payers to participate in its Healthcare Payments Annual Report survey.
- IngeniousMed’s Brian Vice is featured in a “CBS Evening News” segment on job growth.
- Impact Advisors Principal Robert Faix shares insight into how hospitals are getting hacked.
- Healthgrades sponsors the inaugural Special Olympics dual slalom race at the Winter X Games in Aspen, CO.
- Healthcare Growth Partners advises Keais Records Service on its recapitalization by CapStreet.
- HCS will participate in the February 19 HFMA event – “Emerging Management Challenges in the Physician and Hospital Arena” – in Philadelphia
- The HCI Group is named to the University of Florida’s inaugural 2015 Gator 100.
- Clara Hocker of Hayes Management Consulting offers tips on “Building a Better Billing Office: What You Need to Know” in the latest company blog.
- DocuSign offers digital best practices for digital business success.
- Erin Michaud asks, “Why is a Project Manager Important to Your Clinical Data Conversion?” in the latest Galen Healthcare Solutions blog.
- Extension Healthcare will exhibit at the Texas Regional HIMSS Conference February 19-20 in Austin.
- Greythorn Managing Director Richard Fischer shares insight into the shortage of “right skills” in IT.