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January 23, 2018 Headlines 1 Comment

New Novant Health MyChart Collaboration Improves Access to Health Records for Triad Patients

In Winston-Salem, NC, Novant and Wake Forest Baptist Health go live on “Happy Together,” in which the Epic MyChart instances of the respective systems are combined into a single patient view.

Employees at Practice Fusion expected IPO riches, but got nothing as execs pocketed millions

CNBC dissects the sizeable differences predicted in Practice Fusion employee payouts once the company’s sale to Allscripts is finalized.

VA, Health and Human Services Announce Partnership to Strengthen Prevention of Fraud, Waste and Abuse Efforts

The VA will lean on the data, analytics, technology, and best practices of CMS to combat fraud and abuse within its programs.

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  1. By the way, this is what James Hereford is really talking about with his Silicon Valley Billionaire friends and the Smart people they work with … Criticize Epic all you want James, but is this your vision of “innovation”?

    Start-ups crash and burn all the time. It’s an inherent risk and one that’s understood across Silicon Valley.

    But Practice Fusion stakeholders told CNBC they were misled by an executive team that was projecting a bright future as momentum was stalling. In the end, mid-level employees were left with nothing, and many who departed the San Francisco-based company and exercised their options lost tens of thousands of dollars.

    Backed by high-profile venture firms like Peter Thiel’s Founders Fund and Kleiner Perkins Caufield & Byers, Practice Fusion had reeled in over $150 million in private funding with the promise of bringing electronic health records to the cloud, and was reportedly valued at $700 million in 2013.

    Meanwhile, some common shareholders are not only out of luck but also a lot of money. CNBC talked to three former employees who lost between $40,000 and over $100,000 each because they exercised their options in previous years and had to pay tax based on their heightened value at the time.

    If the deal is approved by shareholders, Langan will personally pocket $7 million, according to a proposal viewed by CNBC.

    Stephen Byrnes, the general counsel, would earn $2.2 million, Chief Strategy and Corporate Development Officer Riyad Omar will make $2.3 million and Chief Technology Officer Jonathan Malek will get paid $2.25 million. Stacey Rubin, vice president of people and the only woman in the group, will net almost $750,000.

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