In 2020, the Department of Justice estimated that fraudulent, wasteful, and abusive (FWA) billing practices account for more than $100 billion of the nation’s healthcare expenditures.1 Today, the National Healthcare Anti-Fraud Association (NHCAA) conservatively estimates that healthcare FWA costs the nation about $68 billion annually, representing 3% of the nation's $2.26 trillion in healthcare spending.2 FWA estimates from commercial health plans range as high as $230 billion annually, or
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Amino Health Secures $80M for Healthcare Guidance Platform
What You Should Know: Amino Health, the leading digital healthcare guidance company, today announced $80 million in both equity and debt financing led by Transformation Capital and Oxford Finance LLC, respectively.In the face of declining digital health investment, this funding underscores the success of Amino Health's proven model and enables the company to scale its technology and continue its strong growth trajectory. Funding to Lead to Broadening of Amino
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Lucem Health Secures $7.7M for Agnostic AI-Powered Platform
What You Should Know: Lucem Health, a Mayo Clinic Platform portfolio company, has closed a Series A venture capital funding round of $7.7M led by Mayo Clinic, Granger Management and Mercy (St Louis).Lucem Health helps clinical AI innovators transform data science into innovative, trusted solutions that can detect diseases earlier and optimize care delivery, positively impacting patient lives, improving the physician and provider experience, and ultimately producing improved
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Emory Taps NeuroFlow to Scale Collaborative Care Model
What You Should Know: Emory Healthcare (EHC) today announced a partnership with NeuroFlow to support and improve the delivery of psychiatric services for both patients and providers at their Brain Health Center and several sites across Georgia.NeuroFlow, which offers a cloud-based registry and enterprise platform to help facilitate collaborative care, will support EHC clinical services’ data-driven approach to patient care, with a sharpened focus on improving communication
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AmerisourceBergen Launches Pharmacy Telehealth Pilot with SteadyMD
What You Should Know: AmerisourceBergen (AB), a global healthcare company, has announced a strategic partnership with SteadyMD, a B2B telehealth infrastructure provider for the co-creation of a telehealth solution focused on Test to Treat opportunities. The solution is being offered as a pilot to independent community pharmacies across the US.In addition to the commercial partnership, AmerisourceBergen has also made a minority investment in SteadyMD through its venture fund AB Health
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Morgan Health Invests $25M in Fertility Network Kindbody
What You Should Know: Morgan Health, the JPMorgan Chase & Co. business unit announced a $25M investment in Kindbody, a fertility clinic network and global family-building benefits provider for employers offering the full-spectrum of reproductive care from preconception to postpartum through menopause. Kindbody is a technology-driven fertility clinic network and family-building benefits provider for employers offering virtual and in-person care supporting 112 leading employers, covering
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Horizon Taps Solera to Deliver Members AI-Matched Solutions
What You Should Know: Solera Health, the premier technology platform for connecting people seamlessly and easily to health solutions that work, announces a multi-year strategic partnership with Horizon Healthcare Services, New Jersey’s largest health insurer with more than 3.6 million members.Through this strategic partnership, Solera will provide its technology platform to connect Horizon members to a personalized experience of innovative and effective curated networks of digital
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Expectations For The Connected Care Business In The Years Ahead
Though we seldom see their use in our modern world and, even then, only in fiction, there was a time when it was common for people to actually use things like crystal balls and divining rods to try to uncover unknown yet valuable information. As unbelievable as it may seem, soothsayers peered into crystal balls aiming to help seekers look into the future for guidance, while prospectors would rely earnestly on divining rods as they attempted to locate underground riches of water or oil. While
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How AI Can Deliver Benefits in Healthcare Manufacturing and Patient Device Usage
According to Grand View Research, the global artificial intelligence (AI) in the healthcare market size was valued at USD 15.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030, to reach an estimated USD 208.2 billion. That’s an impressive growth rate, indicating the expected value delivery to a mostly early-phase adoption of AI in the healthcare marketplace. With such aggressive predicted growth, many health industry professionals
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M&A: Kaiser Acquires Geisinger, Forms Risant Health
What You Should Know: Kaiser Foundation Hospitals and Geisinger Health are teaming up to launch Risant Health and a definitive agreement to make Geisinger the first health system to join Risant Health to expand access to value-based care in more communities across the country. Upon regulatory approval, Geisinger becomes part of the new organization through acquisition.Risant Health is a new nonprofit organization, created by Kaiser Foundation Hospitals, to expand and accelerate
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