Home » News » Currently Reading:

News 7/26/19

July 25, 2019 News 6 Comments

Top News

image

image

Health Catalyst and Livongo become the first digital health companies to IPO since 2016.

image

Health Catalyst (HCAT) shares, initially priced at $26, surged 45% during mid-day Nasdaq trading to end at $39 by the close of market. The company raised $180 million.

image

Livongo (LVGO) experienced a similar debut, with shares initially priced at $28 climbing to $40 at the start of trading and ending at $38. The company raised over $350 million.


Reader Comments

From Socalgrunt: “Re: Jacobus Consulting closure. As follow up to the Jacobus Consulting talk a few weeks ago, I received the following from my Meditech rep: ‘Jacobus is no longer active in the consulting space for MEDITECH,’ which was used to prompt a discussion around their professional services.”

image image

From Miami@Vice.com: “Re: Executive exodus at Nicklaus Children’s Health System in Miami. From inside … both CEO Narendra Kini, MD and CIO Ed Martinez, plus the head of HR, have been escorted out of the building.” The Miami Herald reports that CEO Narendra Kini, MD has stepped down “to pursue opportunities in innovation.” Board members say his departure has nothing to do with financial troubles that led to mass layoffs earlier this year. Tax filings show that Kini took home $1.5 million in 2017. SVP and CFO Matthew Love has been named interim CEO.


Webinars

July 31 (Wednesday) 1:00 ET. “Modern Imaging Technology for the Enterprise: Mercy’s Approach That Improved Imaging Cost, Speed, Capacity, and Care Quality.” Sponsor: Mercy Technology Services. Presenter: Jim Best, executive health IT consultant, Mercy Technology Services. Enterprise imaging has become as critical as EHRs for transforming patient care, but many health systems are struggling with the limitations and costs of dated, disconnected PACS even as imaging volumes grow and radiologists report increasing levels of burnout. Radiologists at Mercy were frustrated by its nine disparate PACS, which required them to toggle between workstations, deal with slowdowns and poor reliability, and work around the inability to see the complete set of a patient’s prior images, even as demands for quick turnaround increased. In this webinar, MTS — the technical backbone of Mercy — will describe the lessons they learned in moving to a new best-of-breed PACS platform that increased radiology efficiency by 30%, with the next phase being to take advantage of new capabilities by eliminating third-party reading services and distributing workload across radiology departments to improve efficiency, capacity, and timely patient care.

Previous webinars are on our YouTube channel. Contact Lorre for information.


Acquisitions, Funding, Business, and Stock

image

An EY consultant says the data on 55 million patients held by the UK’s NHS could be worth $12 billion if sold to commercial interests, but could also be mined by NHS itself to generate $6 billion per year through operational savings and improved patient outcomes. 

image

Cerner reports Q2 results: revenue up 5%, adjusted EPS $0.66 vs. $0.62, beating earnings expectations but falling short on revenue. From the earnings call:

  • Chairman and CEO Brent Shafer says the company’s future lies in helping clients deliver benefits from the systems the company has sold them.
  • The company will offer Millennium via a SaaS platform.
  • Cerner will develop a “monetized distribution model” of selling patient data to drug companies and insurers as a “curated data services asset.” Part of that is its HealtheHistory business, which sells records retrieval services to insurance companies and law firms.
  • The company has created a transformation management office of four people, two of whom are from turnaround consulting firm AlixPartners.
  • Cerner will move MyStation patient engagement product users to a similar product product from new partner GetWellNetwork.
  • Cerner expects to reduce costs by up to $200 million to achieve its announced margin targets.

image

Call9 co-founder and CEO Tim Peck, MD says the shuttered nursing home telemedicine company will re-open as Call9 Medical. The company, which embedded paramedics and EMTs at customer sites in New York, closed last month after struggling to stay true to its value-based business model and issues with lead investor Redmile. The new iteration may involve a merger or acquisition, will start off with a larger network of nursing homes, and utilize primary care physicians.

image

Records release vendor Ciox Health raises $30 million in a funding round led by Merck Global Health Innovation Fund and New Mountain Capital.

image

From the NextGen Healthcare Q1 earnings call:

  • Revenue down 1%, adjusted EPS $0.16 vs. $0.19, missing expectations for revenue slightly and for earnings significantly.
  • The company says one of its new, large clients has run into financial problems and won’t contribute the expected $4 million per year in recurring revenue, potentially affecting NextGen’s top line.
  • The company’s legacy retention rate was 89% for the year, but it expects further volatility there.
  • NextGen will expand its offshore work in India and has restructured around headcount reduction in the US, driven by a need to increase capacity rather than to save money.

The Bill & Melinda Gates Foundation invests in Halodoc, Indonesia’s largest telemedicine vendor. The financing, which wraps up the company’s $100 million Series B round, is the foundation’s first digital health investment.


People

image

AliveCor names former Amazon Alexa lead Priya Abani CEO.

image

Trisha Swift, DNP, MSN, RN (JPS Health Network) joins ZeOmega as VP for clinical transformation.

image

Oncology Analytics hires David Fusari (TriNetX) as CTO.

image

Lafayette General Health (LA) promotes Fallon McManus, MD to CMIO.


Sales

  • Bayhealth (DE) selects Pivot Point Consulting’s new On-Demand consulting service to support its Epic systems.

Announcements and Implementations

image

UCI Health (CA) adds MediNav wayfinding technology from Connexient to its Epic-integrated app for patients.

image

Hardtner Medical Center, a 35-bed hospital in rural Louisiana, uses MobileSmith Health’s Blueprints software to develop its first patient app.


Government and Politics

image

In Australia, Queensland government officials press pause on allocating $150 million needed for the continued roll out of Cerner Millenium software across Queensland Health facilities. Initially budgeted at $600 million, the software has gone live at 14 out of 20 hospitals. It has ballooned past its budget, and suffered from leadership scandals and numerous end-user reports of patient safety errors.

image

A Government Accountability Office report on VistA maintenance costs during the VA’s 10-year transition to Cerner shows that the agency can’t provide a reliable estimate because it hasn’t been able to define what the 30 year-old, homegrown system is. The findings have, in turn, left lawmakers on the House Veterans Affairs Subcommittee on Technology Modernization doubtful of overall project costs, which have already risen to $10 billion. Subcommittee Chair Rep. Susie Lee (D-NV) pointed out that, “Money does not grow on trees. At what point do we lay out exactly what the costs are? There are many unknowns in this transition. The fact that this plan is still being formulated is concerning.”


Other

image

University of Colorado Health CMIO CT Lin, MD publishes “My Failure Resume” to encourage younger colleagues and highlight that success is not as clear-cut as typical resumes would have us believe. A few excerpts:

  • 1999: Working in Informatics at 0.2 FTE, I trained docs to use the EHR (3M Clinical Workstation). Asked orthopedists to use the EHR to view result, notes, and print prescriptions. I thought: who wouldn’t want more readable data instead of paper charts? I was politely asked to go away: they were busy being doctors. Hospital leaders response? “Go ask other clinicians who might be friendlier to you.”
  • 2007: Introducing APSO notes (inverted SOAP notes) for improved readability of EHR notes. I thought it was a great idea. Convinced 80 interested colleagues to try it. APSO use rate during “opt-in” phase? 16% (almost no one). Years later, I was able to gain leadership acceptance and make it near-mandatory: “You want to use our new Epic EHR? It only comes with APSO notes. Sorry.” APSO use in Epic? 90%.
  • 2017: Eastern European hackers attacked and disabled national Transcription Service computers. Hundreds of surgeons lost a week of dictated Operative Notes. It was 3 weeks before transcription service restored. Vicious Rumor: “I’m pretty sure CT Lin did this, to force us all to type in his … EHR.” Somehow kept my job.

Sponsor Updates

  • WebPT CEO Nancy Ham joins Blue Cross Blue Shield of Arizona’s Board of Directors.
  • EClinicalWorks will exhibit at the CHCAMS 32nd Annual Conference July 30-August 2 in Biloxi, MS.
  • Ensocare names Stephen Wood senior software engineer.
  • Hayes Management Consulting names Joseph Plouffe (Emerson Hospital) client success manager and Jaenna Babajane (Athenahealth) director of implementation.
  • Hyland and InterSystems will exhibit at the 2019 Defense Health Information Technology Symposium July 30-August 1 in Orlando.
  • Imprivata and Security Innovation award 15 Def Con scholarships to women.
  • Kyruus publishes a new report, “Provider Perspectives on Digital Access.”
  • NextGen adds OptimizeRx’s point-of-care digital prescription savings software to its Enterprise EHR.
  • The Chartis Group publishes a new white paper, “Getting Beyond the Hype with Apps and Making it a Reality.”
  • First announced in April, Jim Costanzo succeeds Bruce Cerullo as Nordic CEO.
  • FDB SVP Patrick Lupinetti will co-present a session entitled “Medical Device Data Your Clinicians Need at the Point of Care” on July 29 at the AHRMM19 Conference in San Diego.
  • Ellkay partners with Canadian digital healthcare management company Chronometriq to help expand its services in the US.

Blog Posts


button


Contacts

Mr. H, Lorre, Jenn, Dr. Jayne.
Get HIStalk updates. Send news or rumors.
Contact us.


125x125_2nd_Circle

View/Print Text Only View/Print Text Only


HIStalk Featured Sponsors

     

Currently there are "6 comments" on this Article:

  1. Didn’t Cerner already have a Saas offering? Couldn’t you join one giant hosted Cerner instance that had all of the other small hospitals running on it and came already configured?

    • I believe you are referencing CommunityWorks, which is a multi-tenant domain for critical access hospitals and community hospitals under 200 beds.

      I believe that Cerner is now moving this type of model to larger medium sized hospitals but will have less per domain (CommWx can have 20+ per domain) where as this model for say a 300-500 Bed Hospital may have only 3-4 customers in a domain.

      Also, its not technically already configured. Similar to Epic, its call the Model Experiencer where about 80% of the domain is standard/stock content and then each customer has the ability to customize about 20% of it (Some rules, reports, documentation format, etc). Implementation for CommWx is currently scheduled at 10-12 months. However, still essentially sits on standard architecture.

      Now if Cerner would really commit to either AWS/AZURE or true cloud, then I think that would be move the needle.

      • Saas = the cloud = hosted systems = remote computing= shared services
        2017….. .2010…………. 2000…………………..1990…………………… 1970

        The more things change the more they stay the same!
        The only diff betw 2020 and 1970 is you have a more robust communication system, faster processors, and a gui.

        The real issues as to whether you do cloud or in-house are really unchanged.
        It’s just more marketing fluff.

  2. Thanks to the Aussies for giving us a peek into the future. They made it 2/3 of the way into their much-smaller project before pulling the plug. The DoD/VA’s Cerner project has been live 30 months now and already screaming past $20b for a price tag with <1% of the rollout complete.

    No CommonWell. No Carequality. Now the VA says their pilot sites will go live running 2 systems side-by-side. The only "connection" that's been set up in this debacle is the one from the US Treasury to Cerner's bank account.







Subscribe to Updates

Search


Loading

Text Ads


Report News and Rumors

No title

Anonymous online form
E-mail
Rumor line: 801.HIT.NEWS

Tweets

Archives

Vince Ciotti’s HIS-tory of Healthcare IT

Founding Sponsors


 

Platinum Sponsors


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold Sponsors


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reader Comments

  • What: What's the real story?...
  • BS: This "entire department quit" thing is untrue....
  • AynRandWasDumb: Sounds like rumor mongering. If that were true and if that actually had an impact, I'd expect we'd have seen more news a...
  • What: That's a good explanation. Maybe not a good example. The rumor around Madison bars is that Hosting management is so ...
  • ellemennopee: @bisexualreader: The largest provider of poverty relief in the LGBTQ community is....who? Yes, it's an opinion pie...
  • bisexualreader: I hope you'll reconsider your support of the Salvation Army due to their long history of homophobia (https://en.wikipedi...
  • ellemennopee: I don't personally know Stephanie Reel but after reading through to the end of her Thanksgiving note, I wish I did. We ...
  • TH: Human attention is among the most valuable things in the world. You don't want the company distracted by a shiny new th...
  • ellemennopee: .“Every year since 2010” and “Best in KLAS” in the Waystar/Recondo announcement along with a quick search of the...
  • Randy Bak: HisTalk flashmob at HIMSS20?...

RSS Industry Events

  • An error has occurred, which probably means the feed is down. Try again later.

Sponsor Quick Links