Fortive will acquire specialty EHR vendor Provation from its private equity owner for $1.425 billion.
Seller Clearlake Capital acquired the company from Wolters Kluwer in early 2018 for $180 million. Provation then acquired Pentax Medical’s EndoPro endoscopy platform and documentation procedure vendor IProcedures, both in 2021, and EPreop in 2020.
Provation reports annual revenue of $110 million. It has 5,000 health system customers.
From Sporacide: “Re: Adjuvare. I didn’t see you mention its formation.” I didn’t see it, but added it below. Patrick Soon-Shiong’s NantHealth is involved with the company, which uses technology from one-time high-flyer AirStrip, whose apex was sharing an Apple stage with Tim Cook way back in 2015 after raising $65 million (and another $22 million in 2019). NantHealth has seen its own struggles, with shares down 95% since its IPO and the company’s valuation down to around $100 million, while NantKwest died quietly in being merged with another Soon-Shiong company, immunotherapy developer ImmunityBio, whose shares have dropped 85% in the past 10 months.
From Roman Board: “Re: Boardsi. I was exploring potential board positions post-retirement. They are a pay-to-play setup like ExecRank and spam me with lots of opportunities that require paying to be considered. Do companies really pay them to recruit board members?” I hadn’t heard of the company, which charges candidates $200 upfront and $195 per month (auto-renewing) and in return guarantees nothing. Anonymous complainers claim the company posts fake LinkedIn board position postings and refuses to answer basic questions about percentage of people placed or its user satisfaction rate, while I would characterize quite a few of the glowing online reviews as questionable (no verifiable user or company names, bot-sounding reviews that refer more to job recruiting than board placement). BBB shows 18 complaints, mostly involving being ignored when requesting cancellation, not having emails and calls returned, and having zero companies make contact. Some observe that the few positions the were offered involve informal advisory boards, which pay nothing and aren’t much of a resume builder. Please share your experience with Boardsi.
From Lindy: “Re: VCU Health. The CIO is leaving abruptly in the middle of an Epic rollout, 10 days post go-live, four years into her first CIO job.” Verified. Susan Steagall, MBA will leave VCU on December 16 after its December 4 go-live on Epic.
HIStalk Announcements and Requests
Most poll respondents expect their employers to struggle with staffing over the next few years. Commenters brought up good points: (a) senior people are leaving, both because they have more opportunity with competitors but also because they have lost trust in their employers due to layoffs and poor corporate culture; and (b) work-from-home has created endless opportunities that devalue geographic loyalty and break through local compensation practices,
New poll to your right or here, following up on last week’s question: Did you change employers in 2021 or do you expect to do so in 2022?
We offer tiny startups a first-year, one-time sponsorship discount. Lorre says she will make that same deal available for companies of any size that have never sponsored HIStalk through December 31. Contact her.
Thanks to the following companies for recently supporting HIStalk. Click a logo for more information.
December 8 (Wednesday) 1 ET. “What Lies Ahead for the EHR’s Problem List.” Sponsor: Intelligent Medical Objects. Presenters: James Thompson, MD, physician informaticist, IMO; Deepak Pillai, MD, MBA, physician informaticist, IMO; Jonathan Gold, MD, MHA, MSc, physician informaticist, IMO. The EHR problem list can be cluttered with redundant, missing, and outdated diagnoses, and displays don’t always help clinicians process the available data correctly. The presenters will discuss how improvements in creating, maintaining, and displaying problems could reduce errors and decrease the cognitive load of clinicians while continuing to optimize reimbursement.
December 9 (Thursday) 1:30 ET. “Cone Health: Creating Extreme Efficiencies in Surgical Services.” Sponsor: RelayOne. Presenters: Wayne McFatter, RN, MSN and Sharon McCarter, RN co-directors of perioperative services, Cone Health. The presenters will discuss how they have empowered the entire surgical care team, including vendor representatives, to get real-time access to surgery schedules and case requirements in the palms of their hand. RelayOne CEO Cam Sexton will also present the findings of a recent study of 100 hospital leaders regarding their operating room optimization plans for 2022.
December 14 (Tuesday) 1 ET. “Using Cloud to Boost AI and Enterprise Imaging.” Sponsor: CloudWave. Presenters: Larry Sitka, MS, VP/CSIO of enterprise applications, Canon Medical Informatics; Jacob Wheeler, MBA, senior product manager, CloudWave. Enterprise imaging has remained a holdout of data center complexity despite the benefits the cloud offers. The presenters will discuss innovative ways to reduce complexity and lead with disruptive technology using AI, enterprise imaging, and the cloud.
December 15 (Wednesday) 1 ET. “Improve Efficiency, Reduce Burnout: Leveraging Smart Clinical Communications.” Sponsor: Spok. Presenters: Matt Mesnik, MD, chief medical officer, Spok; Kiley Black, MSN, APRN, director of clinical innovation, Spok. The presenters will identify the technologies that most often contribute to clinician burnout, then explain how improving common clinical workflows can help care teams collaborate better and focus on what they do best—taking care of patients. They will describe how a clinical communication and collaboration platform can automate clinical consults and code calls to alleviate burnout.
Acquisitions, Funding, Business, and Stock
Netsmart acquires Remarkable Health, which offers AI solutions – including an EHR and virtual clinical documentation — for behavioral health, substance use, and human services.
NantWorks forms Adjuvare, which is built on AirStrip’s patient monitoring solution for remote patient monitoring.
UK-based Vinehealth, whose app collects oncology patient-reported outcomes, raises $5.5 million in funding for a planned expansion to the US. Co-founder and CEO Rayna Patel, MBBS, MPhil is an NHS England National Innovation Fellow.
Shares in the Global X Telemedicine and Digital Health ETF dropped 16% in the past month versus the Nasdaq’s 4% loss. They’re down 15% in the past 12 months versus the Nasdaq’s 23% gain.
The Wall Street Journal profiles recently named Mass General Brigham CIO/Chief Digital Officer Jane Moran, MBA (Unilever). She says the health system is working to extend its EHR with CRM capabilities and is working on remote patient monitoring.
Announcements and Implementations
United Arab Emirates launches Riayati, a national medical record that will be linked to the Wareed and Nabidh EHRs and Dubai Health Authority’s HIE. UAE intends to create an integrated medical record for every UAE resident.
Google adds languages spoken to its medical office search results, although of course it’s up to the office staff to update the information by claiming their Google Business Profile (and making sure that the person who speaks the claimed language is working on any given day). Google previously added the insurances accepted by practices, which is almost certainly wildly inaccurate since even insurers can’t keep track of that.
Michigan Health Information Network Shared Services, Velatura Public Benefit Corporation, and Findhelp will establish a national HIE portal that will offer interoperable social services referrals.
VCU Health (VA) was scheduled to go live with Epic over the weekend, replacing Cerner.
US COVID-19 deaths are at 777,000.
Google will reportedly launch the Pixel Watch smart watch in 2022, which will offer a heart rate monitor and activity tracking. It will not bear the Fitbit name even though Google acquired that company for $2.1 billion in January. Google killed off its first Google-labeled watch before it was scheduled to be announced in 2016, choosing to license its software to other companies instead. Business Insider quotes company sourcea as saying that Google’s offering will be “a pretty direct mirror” of Apple Health.
- OptimizeRx names Brandon Feldmeier BI engineer.
- Olive extends its Hack for Health 2021 virtual hackathon submission deadline to December 17.
- VitalTech integrates Bright.md’s asynchronous telehealth solution with its remote patient monitoring technology.
- Reducing Hospital Readmission Rates Through Discharge Interventions (PatientBond)
- How to Choose the Right Healthcare Predictive Analytics Software (Pivot Point Consulting)
- How to Improve Nursing Communication and Collaboration (PerfectServe)
- Provider Data, Remote Care Management and Telehealth (Symplr)
- Breast Cancer Diagnosis in 36 Hours or Less? (Premier)
- Evaluating AI-driven analytics for radiology: What “good” looks like (Nuance)
- Digital Patient Engagement: What It Does for Patients and Providers (Sphere)
- 3 ways to leverage your hospital contact center to improve clinical communication (Spok)
- Why you should be archiving your legacy EHR data (Summit Healthcare)
- Helping Care Managers Bring Members and Providers Closer Together (Surescripts)
- Be grateful. Count your blessings (Talkdesk)
- Tegria Unites in Second Annual Giving Together Campaign (Tegria)
- Founder Letter: A Year in Retrospect: What Rehab Therapists Learned in 2021 (WebPT)