November 18, 2022

Industry News Update 11/18/22

Written by: 

Mike Murphy

, Director of Business and Industry Analytics

This week’s highlights: The HHS announced it will extend the covid-19 public health emergency past January 11, 2023 & Salesforce announced Patient 360 for Health innovations for behavioral health, advanced therapy management, Salesforce Genie for healthcare, and care coordination.

Regulatory, Legislative, and Legal News

  • Express Scripts must pay $3.2 million to the Massachusetts Attorney General’s Office for allegedly overcharging people for prescriptions tied to their workers’ compensation claims.
  • The House Committee on Energy and Commerce is calling on the Government Accountability Office to investigate how well hospitals are complying with price transparency rules that went into effect at the beginning of this year, saying that hospitals have had “ample time” to comply with the rules.
  • The HHS announced it will extend the COVID-19 public health emergency past January 11, 2023.

Financial and Investment News

  • Healthcare technology and consulting firm CitiusTech acquires California-based Wilco Source, which offers Salesforce consulting and implementation for healthcare and life sciences companies.
  • Medical coding automation vendor Fathom raises $46 million in a Series B funding round.
  • Amwell reported a total revenue of $69.2 million in the third quarter of 2022, up 11 percent from $62.2 million in the third quarter of 2021. The company also reported a $70.6 million net loss, an increase from 2021 when the company reported a $69.7 million net loss during the same period.

New Products and Services

  • IBM’s latest quantum computing processor marks a notable step forward, as the company announced Osprey, which has the largest qubit count of any of its processors at 433 quantum bits, more than triple the number of cubits that the Eagle chip has. IBM said it was built on top of the 127-cubit Eagle’s architecture by keeping qubits on a single plane with the help of multi-level wiring.
  • Salesforce announces Patient 360 for Health innovations for behavioral health, advanced therapy management, Salesforce Genie for healthcare, and care coordination.
  • Microsoft and Wolters Kluwer are partnering to improve patient engagement. Healthcare organizations can now access patient education tools in the cloud to build their own customized personalized care management communications and programs.

Privacy and Security

  • An analysis of cyberspy attacks led to the discovery of a Windows ‘credential roaming’ vulnerability.
  • VMware published an urgent bulletin (VMSA-2022-0028) with details on at least five documented security vulnerabilities that expose VMWare Workspace One users to authentication bypass attacks.
  • Microsoft’s latest updates address six zero-day vulnerabilities, including one related to bypassing the Mark-of-the-Web (MotW) security feature that has been exploited by cybercriminals to deliver malware.
  • The Health Care Cybersecurity Coordination Center is warning the healthcare industry to be on the lookout for the Venus ransomware threat which encrypts Windows devices through publicly exposed remote desktop services.

Other News

  • Salesforce laid off hundreds of people this week as the onslaught of tech cutbacks continued unabated. The company would not share an exact number, but said it was less than a thousand, and the people involved were informed yesterday, according to a person close to the company.
  • Facebook parent company Meta announced extensive layoffs, shedding 11,000 jobs, or about 13% of its staff. Meta’s hiring freeze will also continue, as well as scaling back its real estate, among other cost-cutting changes to be announced in the coming months.
  • Every one of Rhode Island’s pediatric hospital beds was full on Sunday and Monday, according to an NBC News analysis of data from the Department of Health and Human Services, as respiratory viruses surge.
  • Andrew Burchett, DO (Avera) joins MEDITECH as executive director of medical informatics.

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