News 4/17/24

Top News

Shares of UnitedHealth rise on the news that the company beat Q1 revenue expectations in spite of costs incurred by the Change Healthcare cyberattack. The company expects to lose up to $1.6 billion this year because of the hack.

It has advanced $6 billion in payments and interest-free loans to providers impacted by the February 21 event.

Its Optum solution dashboard shows 109 of 137 applications remain down.

Federal lawmakers, meanwhile, met with cybersecurity professionals, representatives from the American Hospital Association, and providers to hear how they have been impacted by the attack, and to gauge how the federal government should respond. UnitedHealth was not represented at the meeting, though CEO Andrew Witty is expected to make an appearance before the Senate Finance Committee at the end of the month.

Reader Comments

From peanutgallery: “Re: Epic/Particle Health/Carequality. This didn’t age well …” PG is referring to a guest post penned in February 2023 by Particle Health co-founder and then CEO Troy Bannister, who proclaimed, “I’m here to spread the news that information blocking is coming to an end.” Given the current data-sharing contention between Epic and Particle Health, his statement may have been wishful thinking. Bannister left the company in January, according to his LinkedIn profile, though the company’s website still lists him as its chief strategy officer. Current CEO Jason Prestinario joined the company in May 2023. Concerned Denizen’s comment at the time now seems prescient: “[I]nteresting to read about Particle’s reputation in adhering to regulations in the networks in which they currently operate, like Carequality and Commonwell. It seems that Particle’s strategy under Troy was to gain as much ground to sell the data across the market, while ‘claiming access for the benefit of consumers,’ with no regard to regulations; the same regulations he is now touting. Will be interesting to see how the new CEO, hired by their Board, is going to change their path to destruction. Judging by his background (selling data to Pharma at Komodo Health), not holding my breath.”

Webinars

None scheduled soon. Previous webinars are on our YouTube channel. Contact Lorre to present or promote your own.

Acquisitions, Funding, Business, and Stock

Kontakt.io raises $47.5 million in a Series C funding round led by Goldman Sachs. Launched in 2013, the multi-vertical company offers patient flow analytics and optimization software and hardware that leverages AI and RTLS technologies.

India-based private equity firm ChrysCapital considers selling HIM and RCM vendor Gebbs Healthcare Solutions, which it acquired in 2018 for $140 million. The potential deal could value the company at up to $1 billion.

In light of what it deems “inaccurate and incomplete announcements and reporting regarding its connection to Epic,” Particle Health issues a statement affirming that the vast majority of its customers have continued to actively receive data from Epic without interruption, and that it remains in good standing with Carequality.

Sales

• Queen Victoria Hospital NHS Foundation Trust in England will implement EHR software from Insight Direct, which will subcontract services to Altera Digital Health.
• MemorialCare (CA) selects Abridge’s generative AI software for clinical documentation.

People

Darcy Corcoran joins CereCore as principal of its new cybersecurity advisory services.

Announcements and Implementations

Community Health Network implements Notable Health’s AI capabilities for automating chart review, care gap scheduling, and pre-visit planning across its 200 care sites in Indiana.

Lakes Region Mental Health Center (NH) will replace its Essentia EHR from Netsmart with the vendor’s MyAvatar behavioral health EHR June 1.

Government and Politics

Online mental healthcare provider Cerebral will pay $7 million to settle federal allegations that it shared the personal data of users with third-party sites for advertising purposes without their consent, and that it failed to honor company cancellation policies, among other sloppy practices. In January, the company agreed to pay $540,000 to patients in New York in a settlement with the state’s attorney general, who said the company intentionally made it hard for patients to cancel their subscriptions and instructed its employees to submit fake positive reviews.

Privacy and Security

RansomHub leaks several files stolen during the Change Healthcare ransomware attack on its dark web leak site in an effort to convince UnitedHealth to pay a second ransom.

Other

“The Pitch: Patient Safety’s Next Generation” premieres this week at the Cleveland International Film Festival. The documentary focuses on technology’s role in patient safety efforts, and features the impact UPMC Presbyterian’s Enhanced Detection System for Healthcare-Associated Transmission program has had on the hospital’s ability to identify and prevent hospital-acquired infections.

Sponsor Updates

• CereCore becomes a partner in the Meditech Alliance Consulting Services Program.
• Clearwater names Angie Santiago manager, consulting services – resiliency solutions.
• AGS Health, Artera, Availity, FinThrive, and Vyne Medical will exhibit at the NAHAM Annual Conference April 23-26 in Dallas.

Blog Posts

• CIOs on Facing 2024 Challenges: Hire Contractors and Invest in Automation (Part 2) (CereCore)
• Improving patient experience through telehealth and digital education (Wolters Kluwer Health)
• AUR 2024 – Insights from Kyle Souligne (Agfa HealthCare)
• Maximizing CDI for Physician Queries for Accurate Reimbursement (AGS Health)
• A “peak” at Paragon Denali from the floor at HIMSS24 (Altera Digital Health)
• Data analytics platforms: The key to quality-of-care improvements (Arcadia)
• Leverage Consensus Unite with PointClickCare (Consensus Cloud Solutions)
• Solving Hospital CEOs’ Pressing Challenges with Analytics (Dimensional Insight)

Contacts

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