Morning Headlines 4/2/24

Solventum Begins Trading on the New York Stock Exchange

Solventum, a 3M spinoff that includes health information systems among its four business segments, begins trading on the NYSE.

Walmart Health Clinic Expansion On Track For 70 By Year’s End

Walmart will open 22 new health clinics within Walmart Supercenters this year, bringing its total to 70 across the country.

New Valley Hospital ready to welcome patients with state-of-the-art tech

New Jersey-based Valley Health System will open a new hospital in Paramus equipped with smart beds, bedside infotainment systems, and AI-powered fall-prevention technology.

Morning Headlines 4/1/24

U.S. Attorney Announces $3.1 Million False Claims Act Settlement With Radiology Company And Its CEO For Fraudulent Billing Practices

Teleradiology vendor The Radiology Group pays $3.1 million to settle False Claims Act charges that its US-based radiologists rubber stamped draft image interpretations that were performed by India-based contractors who are not licensed in the US.

QuickMD Expands Healthcare System with Acquisition of Project Recovery

Telemedicine provider QuickMD acquires South Dakota-based addiction treatment clinic Project Recovery.

Hume AI Announces $50 Million Fundraise and Empathic Voice Interface

Hume AI, which has developed an emotionally intelligent voice interface for AI chatbots and other digital applications, raises $50 million from a spate of investors that includes Northwell Health’s venture capital arm.

Morning Headlines 3/29/24

US offers $10 million bounty for info on ‘Blackcat’ hackers who hit UnitedHealth

The US State Department offers a $10 million reward for information leading to the Blackcat ransomware group that hijacked Change Healthcare’s systems last month.

YC-backed Pelago, a virtual clinic for addiction treatment, raises $58M Series C

Virtual addiction clinic Pelago raises $58 million in Series C funding, bringing its total raised to $151 million.

Walgreens Boots Alliance Reports Fiscal 2024 Second Quarter Results

Walgreens beats Q2 revenue and earnings expectations, but reports a $5.8 billion impairment charge related to its VillageMD primary care business, which will close another 160 locations versus the previously planned 60.

Morning Headlines 3/28/24

Goodbill raises $2M and expands customer base to unearth and challenge medical billing errors

Goodbill, a Seattle-based startup that has developed software that detects medical billing errors, raises $2 million.

InStride Health Raises Oversubscribed $30 Million Series B to Expand Access to Best-In-Class Specialty Treatment for Pediatric Anxiety and OCD

Tech-enabled pediatric mental healthcare provider InStride Health announces a $30 million Series B funding round.

New Federal Health IT Strategy Sets Sights on a Heathier, More Innovative, and More Equitable Health Care Experience

ONC seeks public comment on the draft “2024-2030 Federal Health IT Strategic Plan” so that federal agencies can better align their health IT policies, programs, and investments.

Morning Headlines 3/27/24

Brightside Health Raises Strategic Series C, Welcomes Trip Hofer to Board of Directors

Virtual mental healthcare company Brightside Health announces a $33 million Series C investment, bringing its total raised to over $107 million.

Sagility Acquires BirchAI, a GenAI Company in the Healthcare Space

RCM and business process engineering company Sagility acquires BirchAI, a startup that offers AI-powered call center automation technology.

Tennr Raises $18M in Series A Funding

Tennr will use $18 million in Series A funding to further develop and market its AI-based document automation software geared towards providers who rely on digital faxing.

Morning Headlines 3/26/24

Arches Medical Partners Acquires 11 Primary Care Practices in Rhode Island

Walgreens-owned VillageMD sells its 11 primary care clinics in Rhode Island to Arches Medical Partners, which owns IPA-focused software company New Era Medical Operations.

Responding to Change Healthcare, Warner Introduces Legislation to Protect Providers in the Event of Future Hacks, Requiring Minimum Cybersecurity Standards

Senator Mark Warner (D-VA) introduces the “Health Care Cybersecurity Improvement Act of 2024,” which, if passed, will enable eligible providers to receive advanced and accelerated payments in the wake of a cyberattack.

Masimo plans to spinoff consumer business

Masimo considers spinning off its consumer business, which includes consumer health and audio products, and retaining its healthcare and telehealth solutions.

Morning Headlines 3/25/24

Information on the Change Healthcare Cyber Response

UnitedHealth Group posts target dates for restoring Change Healthcare’s systems from its February 21 cyberattack.

Global Payments wants $3 billion for AdvancedMD—but may have to settle for half of that

Global Payments is reportedly seeking a buyer for its AdvancedMD business at an asking price of $3 billion.

Issues with VA’s new EHR have contributed to patient harms and one death, watchdog says

VA OIG issues three reports related to the VA’s implementation of Oracle Health, each of which highlight system shortcomings.

Trinity Hunt Partners Establishes Healthcare Advisory Platform with Investment in Coker

Private equity firm Trinity Hunt acquires a majority stake in Atlanta-based healthcare consulting firm Coker Group.

Morning Headlines 3/22/24

New Report Finds That Digital Diabetes Management Tools Fail to Deliver Meaningful Health Benefits to Patients While Increasing Spending

Digital diabetes management solutions increase healthcare spending without delivering meaningful clinical benefits, according to a review of evidence by the Peterson Health Technology Institute.

Sharp, UCSD affected by computer outage that briefly diverted ambulance deliveries

A power outage at an Epic data center in California knocks several hospitals offline for two hours, prompting them to temporarily divert ambulances.

Syllable Corporation Announces Purchase of Actium Health

Process automation vendor Syllable acquires Actium Health, whose system reviews EHR data to identify patients who may need specific medical services.

Use of Online Tracking Technologies by HIPAA Covered Entities and Business Associates

New HHS guidance reiterates that covered entities can’t use web tracking technologies that might result in PHI disclosure, but clarifies that webpages that don’t require users to log in and that don’t have access to PHI don’t fall under HIPAA’s purview even if the user can be tied to an IP address.

Morning Headlines 3/21/24

Conduce Health Secures $3 Million in Seed Funding to Power Multi-Specialty Value-Based Care Marketplace

Conduce Health will use $3 million in seed funding to further develop its marketplace for primary care physicians looking to transition to value-based care through partnerships with specialty care providers.

PocketHealth Raises $33M USD in Series B Funding to Transform Medical Image Exchange and Patient Experience

Patient-centric image exchange platform Pocket Health raises $33 million in Series B funding.

Healthcare platform Anima brings Salesforce-like capabilities to clinics, raises $12M

Automated care enablement technology startup Anima, which works with NHS clinics in England, raises $12 million in Series A funding.

Morning Headlines 3/20/24

Abridge to Deliver Generative AI Microservices to Millions of Clinicians and Their Patients with Nvidia

Nvidia invests an unspecified sum in conversational AI system vendor Abridge, which will expand its use of Nvidia’s technologies.

Hippocratic AI Raises $53 Million Series A at a $500 Million Valuation

Hippocratic AI raises $53 million in a Series A funding round that values the company at $500 million.

R1 RCM Tells Two Top Holders to End Buyout Talks

R1 RCM’s recently formed advisory committee calls a halt to any further consideration of the acquisition offer made by majority shareholder New Mountain Capital.

Morning Headlines 3/19/24

Phreesia Announces Fourth Quarter Fiscal 2024 Results

Patient intake and engagement software vendor Phreesia reports a 24% increase in Q4 earnings and a similar bump in fiscal year revenue.

UnitedHealth Group Cyberattack Status Update

UnitedHealth Group reports in a March 18 status update that it has paid out $2 billion in financial aid to cash-strapped providers, and that it will begin releasing medical claims preparation software as a part of Change Healthcare’s system restoration process.

Thyme Care Unveils “Thyme Care Oncology Partners,” a Provider-Powered Value-Based Care Model in Partnership with More than 400 Oncologists Nationwide

Care collaboration company Thyme Care launches Thyme Care Oncology Partners to help oncology clinics transition to value-based care.

Morning Headlines 3/18/24

Veradigm Announces Initial Financial Guidance for Fiscal 2024

Veradigm reports that, despite having its shares delisted, its fundamentals are healthy and that it anticipates a small growth in GAAP revenue and a small decrease in earnings.

Lurie Children’s Hospital reactivating patient portal after network outage

Lurie Children’s Hospital in Chicago begins bringing its MyChart patient portal back online after a ransomware attack took it and other systems offline six weeks ago.

AHA Urges More Congressional Action to Help Providers Affected By Change Healthcare Cyberattack

The American Hospital Association tells the Senate Finance Committee that it cannot support budget proposals that call for the federal government to impose financial penalties on hospitals that have been the victim of cyberattacks.

Morning Headlines 3/15/24

UnitedHealth unit Change Healthcare’s pharmacy network back online

UnitedHealth Group reports that Change Healthcare’s pharmacy network is up and running, with nearly all pre-incident claim volume flowing.

From Wait Times to Real-Time: Assort Health Secures $3.5 Million to Scale First Generative AI for Healthcare Call Centers

Assort Health, which has developed healthcare call center software powered by AI, announces $3.5 million in funding.

Zephyr AI Raises $111 Million in Series A Financing

Precision medicine software vendor Zephyr AI secures $111 million in a Series A funding round, bringing its total raised to $129.5 million.

Morning Headlines 3/14/24

Anatomy IT Expands Healthcare Specialties Expertise with Acquisition of Managed IT Services Leader

Anatomy IT acquires Manta HealthTech, which offers managed IT services to medical, dental, optometry, and veterinary care providers.

HHS Office for Civil Rights Issues Letter and Opens Investigation of Change Healthcare Cyberattack

The HHS Office of Civil rights launches an investigation into the Change Healthcare attack to determine if patient data was breached and what, if any, HIPAA violations have been committed by Change and parent company UnitedHealth Group.

Lurie Children’s Hospital investigating claims that stolen data was sold online

Lurie Children’s Hospital (IL) investigates claims made by the Rhysida ransomware group that it sold data stolen from the hospital.

Biden budget cuts funding for health record refresh amid ongoing program ‘reset’

Proposed fiscal year 2025 budgeting for the VA does not include any new funding for the continued roll out of the department’s stalled EHR modernization program.

Morning Headlines 3/12/24

Linus Health Acquires Aural Analytics

Cognitive assessment software vendor Linus Health acquires Aural Analytics, which offers clinical-grade speech analytics.

Access, a Leader in Information Management Services, to Significantly Accelerate Its Digital Solutions Strategy with Acquisition of Triyam, an Innovative Data and Software Business

Information management services company Access acquires healthcare data conversion, migration, and archiving vendor Triyam.

Divurgent Announces Formal Expansion into the Canadian Healthcare Market

Virginia Beach-based healthcare technology consulting firm Divurgent announces its expansion into Canada.

R1 RCM Forms Special Committee to Evaluate Strategic Alternatives

R1 forms an advisory committee to consider the acquisition offer made by majority shareholder New Mountain Capital, a deal that would value the technology and services company at $5.8 billion.

Morning Headlines 3/11/24

UnitedHealth Group Update on Change Healthcare Cyberattack

UnitedHealth Group hopes to restore Change Healthcare’s electronic payments systems by March 15 and its medical claims platform the week of March 18.

MPath Health Raises $1.1 Million to Improve Cancer Screening and Save Lives

MPath, an automated cancer screening technology startup that got its start at Wake Forest University School of Medicine, announces $1.1 million in new funding.

Emory Healthcare transforms clinician access to health records with Epic and MacBook Air

Emory Healthcare goes live on Epic on MacBook Air via Epic’s just-announced native Hyperspace app that is available in the Mac App Store.

VA, DoD launch new EHR at joint site — a major milestone for each agency’s rollout

DoD goes live on Oracle Health in the Lovell FHCC that it operates in conjunction with the VA.

Morning Headlines 3/8/24

First round bids collected for Netsmart, sources say

The private equity owners of Netsmart are reportedly reviewing first-round bids for the company that could value it at $5 billion.

Patients struggle to get lifesaving medication after cyberattack on a major health care company

The Change Healthcare hack is preventing pharmacists from processing manufacturer co-pay assistance cards and prescription discount cards.

PreemptiveAI Emerges From Stealth With a Groundbreaking Biomedical Foundation Model For Health Prediction

Seattle-based health prediction and monitoring startup PreemptiveAI launches with $6.4 million in funding.