Industry News: Volume 2, Issue 4

Recuro Health Announces Investments by DeepWork Capital and GPG Ventures: Proceeds to Accelerate Marketing and Expanded Capabilities in Digital Health

DALLAS–(BUSINESS WIRE)–Recuro Health (Recuro), an integrated digital health solutions company that transitions the U.S. healthcare system from a reactive, disease-focused model to a population health, outcomes approach, today announces investments by DeepWork Capital and GPG Ventures, bringing the total current investment in Recuro to $22 million. These financial sponsors join existing investors in the over-subscribed A-Round, including ARCH Venture Partners, OLSF Ventures, Cortado Ventures, 1843 Capital and Sage Venture Partners.

Michael Gorton, CEO and founder of Recuro Health, says, “The overwhelming response to Recuro in the financial community demonstrates market confidence in our leadership team, the growing range of innovative digital health solutions and the strides we are already making to bring more affordable, accessible healthcare to individuals nationwide. The relationships with DeepWork Capital and GPG further accelerate our growth and enable Recuro to better serve the needs of providers, payers and patients.”

Recuro’s curated and integrated suite of digital solutions address real market challenges and impact care delivery at the intersection of quality, access and cost. From virtual primary care and behavioral telehealth to at-home testing and genetic screening, its fully customizable portfolio of solutions can be tailored to meet the needs of any population.

According to Benjamin Patz, managing partner of DeepWork Capital, “Recuro exemplifies this spirit of innovation by advancing integrated care, risk stratification and diagnostics. Recuro is truly an innovative healthcare solution provider, with a robust business model that results in improved outcomes and more efficient care.”

Recuro has had early success and market recognitionwith itsCOVID-19 testing solution which is one of a dozen chosen from a field of hundreds of companies to collaborate directly with the US Department of Health and Human Services, the National Institute of Health and the FDA during the pandemic.

Dr. Clay Heighten, GPG Ventures, says, “Recuro is aligned with our goal to bring compelling investment opportunities to our limited partners. The exceptional executive leadership team is demonstrating the value of recognizing market opportunities and creating programs and services that answer pressing healthcare needs. Recuro is addressing many of the new, post-COVID patient preferences for delivery of healthcare.”

Gorton says, “Recuro’s success is built on strong partnerships, technical expertise ​and a proven ability to deliver superior results. Our overall strategy is to invest in projects that generate long-term value with an integrated business model that combines world-class assets and leadership in advancing healthcare access and outcomes.”

About Recuro Health
Serving payers, employers and providers, Recuro Health is an integrated digital health solution that delivers value throughout the healthcare ecosystem as care moves from traditional office in-person settings to wherever the patient and data are located. Recuro solutions support the migration from convenient care to meaningful patient engagement across broader care pathways, creating a personalized, holistic digital medical home that results in better outcomes and lower costs. www.recurohealth.com.

About DeepWork Capital
DeepWork Capital invests professionally managed committed venture capital in growth-oriented, early-stage companies in the technology and life science sectors. We partner with visionary entrepreneurs building disruptive companies. DeepWork works closely with other investment groups and takes a hands-on approach with its portfolio companies. For additional information, please see https://www.deepworkcapital.com.

About GPG Ventures
GPG Ventures is an early-stage investment firm focused primarily in healthcare with ability to invest in other industries and across stages. We are headquartered in Texas, with offices in Dallas and Houston and portfolio companies across the US. GPG Ventures.

To view the original press release, click here.

Recuro Health Hosts Free Webinar on Preparing for COVID-19 Mandates, Featuring Essential Tools to Help Employers Ensure a Safe and Healthy Workplace

DALLAS–(BUSINESS WIRE)–Recuro Health (Recuro), an integrated digital health solutions company that transitions the U.S. healthcare system from a reactive, disease-focused model to a population health, outcomes approach, announces it will host a live, complimentary webinar with logistics support from BenefitsPro, “Managing OSHA Mandates for COVID-19 Tracking & Testing – Supporting Compliance in the Workplace,” Tuesday, Dec. 14 at 2 p.m. – 3 p.m. (ET). Attendees will learn how to navigate changing compliance requirements related to COVID-19 and what tools are available for employers to monitor the health of their employees.

Webinar registration is here.

Michael Gorton, CEO and founder of Recuro Health, says, “With federal mandates in flux and rising COVID-19 cases, employers are facing countless pandemic-related challenges, including employee morale, employee productivity, adapting to remote work and much more. As a result, they need an end-to-end solution that enables simple and quick testing and monitoring of COVID-19 in employee populations.”

The one-hour webinar will feature three Recuro speakers: John Halsey, chief growth officer; Allison Martin, executive director; and Michael Brombach, chief product officer. They will discuss the COVID-19 landscape, the employer pandemic-related challenges and Recuro’s powerful testing solution, including an employer portal to securely track and monitor testing and reporting. There also will be a live demo of acclaimed Recuro’s solution as well as a Q & A session.

Recuro’s COVID-19 testing solution is one of a dozen chosen from a field of hundreds of companies to collaborate directly with the US Department of Health and Human Services, the National Institute of Health and the FDA during the pandemic.

Gorton says, “Recuro’s curated and integrated suite of digital solutions address real market challenges and impact care delivery at the intersection of quality, access and cost. From virtual primary care and behavioral telehealth to at-home testing and genetic screening, its fully customizable portfolio of solutions can be tailored to meet the needs of any employee population.”

About Recuro Health

Serving payers, employers and providers, Recuro Health is an integrated digital health solution that delivers value throughout the healthcare ecosystem as care moves from traditional office in-person settings to wherever the patient and data are located. Recuro solutions support the migration from convenient care to meaningful patient engagement across broader care pathways, creating a personalized, holistic digital medical home that results in better outcomes and lower costs. www.recurohealth.com

To view the original press release, click here.

Aster Guardians Global $250,000 Nursing Award Now Open for Nominations from Nurses Worldwide

  • The winner of the First Prize would be awarded $250,000 while nine other finalists will receive a substantial monetary prize at a grand ceremony in Dubai on International Nurses Day, May 12, 2022.
  • Nurses from around the world can submit their nominations via www.asterguardians.com by January 30, 2022.

Dubai, UAE, Nov. 29, 2021: Launched on International Nurses Day in May 2021 by Aster DM Healthcare, with an aim to recognize the phenomenal contribution of nurses to the healthcare delivery system globally, Aster Guardians Global Nursing Award has started receiving applications from nurses worldwide. The application system is completely online via www.asterguardians.com, where nurses can submit applications for the award or anyone can nominate a nurse, who is worthy of the award.

Aster has appointed Ernst & Young LLP (EY) as ‘Process Advisors’ who would ensure due-diligence of applications based on the defined eligibility criteria, evaluation of the entries by an independent panel of experts and presentation by the finalists to an independent well-known jury to determine the final winner.

Encouraging nurses from around the world to apply and nominate nurses for the award, Dr. Azad Moopen, founding chairman and managing director of Aster DM Healthcare said, “Nurses are the unsung heroes of the healthcare system which has been proven undoubtedly during the COVID-19 pandemic. They continue to play a pivotal role and are the backbone of the healthcare delivery system working under tremendous pressure with huge commitment. Aster Guardians Global Nursing Award is our effort to recognize the phenomenal work being done by the nursing community worldwide. With over 7,000 nurses at Aster DM Healthcare, we consider it our obligation to recognize and celebrate the contribution of nurses across the world.”

Aster Guardians Global Nursing Award has started receiving nominations from nurses based in the United States, Middle East, Indian sub-continent, Africa, North and South America, Central Asia, Europe and Oceania. The last date for accepting nominations is January 30, 2022, and then the review process will start. After the initial review based on the set criteria, shortlisted nominations will undergo a voting process. Subsequently 10 finalists would be selected for the award ceremony, interview and interactions with the jury.

The final Aster Guardian Global Nursing Award winner will be announced on May 12 — International Nurses Day in 2022 — at a grand ceremony in Dubai. Apart from the substantial First Prize of $250,000, the nine finalists will also be presented with monetary prizes and awards.

About Aster DM Healthcare

Aster DM Healthcare Limited is one of the largest private healthcare service providers operating in GCC and in India. With an inherent emphasis on clinical excellence, we are one of the few entities in the world with a strong presence across primary, secondary, tertiary and quaternary healthcare through our 27 hospitals, 117 clinics and 225 pharmacies in seven countries, including India. We have over 23,100 plus dedicated staff including 3,029 doctors and 6,729 nurses across the geographies that we are present in, delivering a simple yet strong promise to our different stakeholders: “We’ll treat you well.” We reach out to all economic segments in the GCC states through our differentiated healthcare services across the “Aster,” “Medcare” and “Access” brands.

Early Identification of Fatty Liver Using Echosens FibroScan Potentially Gives Payers Five-Year Gross Savings of $10+ Million, Confirmed by Independent Study

WALTHAM, Mass.–(BUSINESS WIRE)–Echosens, a high-technology company offering the FibroScan family of products, today announces the release of its white paper, “FibroScan Technology Assesses and Monitors Liver Health, Demonstrates Positive Return on Investment,” authored byMazen Noureddin, M.D., director, Fatty Liver Program, Cedars-Sinai Medical Center. This informative paper highlights the findings of an independent assessment conducted by Santa Barbara Actuaries Inc. (SBA) to evaluate from the payer’s perspective the cost effectiveness of deploying vibration-controlled transient elastography (VCTE)/controlled attenuation parameter (CAP) technology for detecting and monitoring FLD. Published in the American Journal of Managed Care (AJMC), the study results concluded that early identification of patients with FLD through broad placement of VCTE/CAP devices offers cost savings to payers. One outcome scenario produced an estimated five-year cumulative gross savings of $10.1 million and a net savings of $8.8 million, which corresponds to a five-year 6.5:1 ROI and a net savings of $1.46 per member per month.

“Accelerated rates of adult obesity and Type 2 diabetes—along with an aging population—non-alcoholic fatty liver disease (NAFLD) and mortality are expected to increase in the United States and globally, prompting demand for earlier screening and strategies for curbing the financial burden for payers, providers and patients,” says Noureddin. “With the large population at risk for these adverse outcomes due to FLD, payers should turn to cost effective and easily implemented liver assessment strategies that are available at the point of care. Using patented VCTE and CAP, FibroScan is the first totally non-invasive device indicated for use as an aid in the clinical management of patients with liver disease.”

The study’s model was built to project medical cost savings driven by the device, relative to the net cost of the device. Two sources of value generation were considered:

  • VCTE/CAP tests resulted in earlier identification of patients with FLD allowing for proactive intervention to slow down disease progression in these patients
  • Use of the VCTE/CAP test reduced the volume of current diagnosis methods, such as liver biopsy, imaging and lab work

The aggregate effect of VCTE/CAP on utilization and cost was estimated by comparing the current state diagnosis and treatment pathways with future state pathways after the introduction of the device.

Jon Gingrich, CEO, Echosens North America, states, “For health plans, this technology represents a way forward in terms of identifying disease early—when interventions can be most effective—and proactively managing or avoiding health deterioration and associated preventable future costs.”

About Echosens
Echosens, the developer of FibroScan®, is an innovative high-technology company offering a full range of products and services supporting physicians in their assessment and management of patients with chronic liver diseases. FibroScan is supported by over 3,000 peer-reviewed publications and examinations are covered by Medicare, Medicaid and many insurance plans. For more information, please visit https://www.echosens.com/.

To view the original press release, click here.

AscellaHealth Ranked Number 299 Fastest-Growing Company in North America on the 2021 Deloitte Technology Fast 500™

BERWYN, Pa.–(BUSINESS WIRE)–AscellaHealth, a global specialty pharmacy and healthcare solutions company, today announced it ranked 299 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27th year. AscellaHealth grew 417% during this period.

AscellaHealth’s Dea Belazi, president and CEO, credits their innovative Specialty Pharmacy programs and services for the company’s 417% revenue growth. He said, “Our programs and services are designed to optimize clinical outcomes and quality of life for patients with complex chronic conditions or rare diseases. Our focus on all sectors of the Specialty Pharmacy industry, including payers, providers, life sciences and patients, as well as gene and cell therapies, positions AscellaHealth for accelerated growth as we continue to expand the scope and diversity of our customer base.”

“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”

“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.”

AscellaHealth previously ranked among honorees for the 2021 Inc. Magazine’s 5000 for 2021; earned the merit-based Philadelphia100 Award for the second consecutive year among the fastest growing, private companies in the Philadelphia region; and Dea Belazi was among the top honorees at the Philadelphia Business Journal’s 2021 “Most Admired CEOs.”

About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About AscellaHealth LLC
AscellaHealth is a global Specialty Pharmacy and Healthcare services organization serving payers, providers, life sciences and patients, offering a comprehensive portfolio of customized, tech-enabled specialty pharmaceutical and medical management services. An Inc. 5000 2021 winner, AscellaHealth’s unique, patient-centric approach is built upon proprietary technology processes for innovative programs and services optimizing health outcomes and quality of life for patients with complex chronic conditions or rare diseases that require specialty medications and/or gene and cell therapies. Visit www.AscellaHealth.com.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

To view the original press release, click here.

Optime Care’s Patient-First Humatin Total Care Program Maximizes Therapeutic Benefits of Humatin Treatment for Intestinal Amebiasis

EARTH CITY, Mo.–(BUSINESS WIRE)–Optime Care, a nationally recognized pharmacy, distribution and patient management organization maximizing therapeutic opportunities for the treatment of orphan and rare disorders, announces the release of “Patient-First Approach Maximizes Therapeutic Benefits of Humatin™ for Treatment of Intestinal Amebiasis.” This white paper highlights howHumatin™ (paromomycin sulfate), available exclusively through Humatin Total Care, brings specialty drug expertise to this patient population and in-depth understanding of this particular disease.

“Optime Care’s patient-first drug management program and how our team helps to optimize the benefits of Humatin for patients with acute and chronic intestinal amebiasis,” says Donovan Quill, president and CEO, Optime Care, and author of the paper. “Readers will gain insight into how our singular approach can ensure care continuity across the entire patient journey with robust communication to yield rich data that clinicians can use to make more informed decisions and improve the overall patient experience.”

Intestinal amebiasis is a parasitic infection of the intestines caused by a protozoan Entamoeba histolytica that can affect anyone, although it is more common in people who live in or who have traveled to tropical areas with poor sanitary conditions. People become infected by ingesting contaminated food or water, or cysts (eggs) through contact with fecal matter of a person infected with the protozoanOf those infected, approximately10-20% become sick.

The Optime Care team, including care coordinators, pharmacists, nurses and other specialists, focuses on the disease state, patient community and therapy. Optime offers a suite of comprehensive services tailored to maximize the therapeutic opportunities for the treatment of intestinal amebiasis. This approach enables patients to becomemore engaged and take ownership, which leads to a stronger partnership and better patient care.

Quill concludes, “Our patient-first approach is critical for transcending the limitations of the standard specialty pharmacy and hub service provider, which too often rely on technology solutions that fail to address human needs and variability.”

About Optime Care
Optime Care, Inc. is a nationally recognized pharmacy, distribution and patient management organization offering a suite of comprehensive services tailored to maximize the therapeutic opportunities for the treatment of orphan and rare disorders. Our management team has previously partnered in the launch and management of more than 40 orphan products and programs and consistently implemented the best brand programs for the community. Our experience with small patient populations makes us uniquely qualified to help every stakeholder group impacted by these disorders. Optime Care has dual-accreditation from the Utilization Review Accreditation Commission (URAC) for compliance with specialty pharmacy and the Accreditation Commission for Health Care (ACHC) for specialty pharmacy services that demonstrate a commitment to providing quality care and services to consumers. https://www.optimecare.com/

To view the original press release, click here.

Health Experts Worry CDC’s Covid Vaccination Rates Appear Inflated

By Phil Galewitz

KHN.com—For nearly a month, the Centers for Disease Control and Prevention’s online vaccine tracker has shown that virtually everyone 65 and older in the United States—99.9% –has received at least one covid vaccine dose.

That would be remarkable—if true.

To view the original article in its entirety, click here.

AHA, AMA sue Biden admin to challenge surprise billing arbitration process

By Paige Minemyer

FierceHealthcare.com—The American Hospital Association (AHA) and the American Medical Association (AMA) have filed a joint lawsuit against the federal government, challenging the Biden administration’s implementation of the No Surprises Act..

To view the original article in its entirety, click here.

Out-of-pocket costs may play larger role in telehealth visits than in-person care: survey

By Rebecca Torrence

FierceHealthcare.come—Out-of-pocket costs may play a larger role in choosing telehealth over in-person visits for those who would otherwise prefer virtual care, a new survey by the RAND Corporation suggests.

In a study conducted in March by the nonprofit research organization ad published in JAMA Network Open, researchers assessed post-pandemic patient preferences for telehealth versus in-person care.

To view the original article in its entirety, click here.

Pfizer CEO: Omicron Variant Could Mean Fourth Vaccine Dose Needed Sooner Than Expected

By Cecelia Smith-Schoenwalder

USNews.comA fourth COVID-19 vaccine dose maybe needed sooner than expected in order to address the omicron variant, according to the chief executive of Pfizer.

Pfizer CEO Albert Bourla previously said a fourth dose could be needed one year after the third shot.

To view the original article in its entirely, click here.

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