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    Industry News Update 6/4/21

    June 2021 | Mike Murphy, Director of Business and Industry Analytics

    Industry Trends

    This week's highlights: P3 Health Partners will become a publicly traded company via an acquisition, Imprivata announces a mobile facial recognition solution that will initially allows clinicians to electronically prescribe controlled substances, and CHIME will host its Summer Forum June 16-17. 


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    Regulatory, Legislative,
    and
    Legal News

     

    A new analysis by the VA Inspector General finds that the VA will likely end up paying between $1 billion and $2.6 billion more than the original $16 billion estimated for its EHR project due to unaccounted-for physical infrastructure costs.

    • The CMS delayed part of a Trump-era rule requiring drugmakers to include the discounts they offer to patients when calculating the “best price” for drugs under Medicaid’s drug rebate program, according to a proposed rule on Wednesday.

    • The Justice Department criminally charged 14 people, including a telemedicine company executive and physician, across seven federal district courts for their alleged participation in Medicare scams that exploited COVID-19 and resulted in millions of dollars of fraudulent billings.

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    Financial
    and
    Investment News

     

    Population health management company P3 Health Partners will become a publicly traded company via an acquisition by SPAC Foresight Acquisition Corp. The new company will retain the P3 brand.

    • Healthcare advisory and analytics firm Press Ganey acquires healthcare measurement and analytics company SPH Analytics.

    • Virtual care company Babylon Health is in talks to go public via a merger with special purpose acquisition company Alkuri Global Acquisition Corp.

    • Physician networking site Doximity, which introduced a telemedicine service last year, has filed IPO paperwork that includes allocating up to 15% of its shares to physician members.

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    New Products
    and
    Services

     

     

    Quest Diagnostics and Paige have formed a collaboration to advance AI-generated pathology insights to improve cancer diagnosis and care.

    • InteliCare announced a collaboration to create predictive tech for senior care. They will build machine learning algorithms to predict health risks for the elderly.

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    Privacy
    and
    Security

     

    SonicWall announced the availability of patches for a severe command injection vulnerability in its Network Security Manager (NSM) product last week.

    • Ireland’s health service asks employees to turn on their 80,000 computers to automatically install a ransomware decryption key that a cyber attacker reportedly provided at no cost, but says it will still take weeks to return systems to normal. The May 14th attack has limited lab capacity to 20% and forced some cancer patients to travel to other cities for treatment.

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    Other
    Industry
    News

     

     

    The local business paper reports that McKesson has brought its four prescription technology businesses into one operating unit under the CoverMyMeds brand.

    • The CEO of Children’s Hospital Colorado declares a state of emergency in youth mental health, saying that it is overwhelmed with children who have attempted suicide or show symptoms of mental illness.

    • Blue Shield of California has saved $20 million over two years by using Gemini Health’s medication cost transparency system for prescribers and pharmacists.

    • CHIME will host its Summer Forum June 16-17 across three cities featuring eight past and present ONC leaders.

    • Another new KLAS report on application management and help desk services says that Nordic, Tegria-owned Cumberland, and HCTec execute strongly and communicate well in the “expansive” offerings category.

    • PicnicHealth and Komodo Health announced a partnership to strengthen complex disease research using real-world data. The data from PicnicHealth and Komodo's Healthcare Map will be available to researchers in the biopharmaceutical and academic communities.

    • Forrester predicts that 70% of US and European companies will pivot to a hybrid work model post-pandemic. Forrester’s research shows that companies that master this opportunity will accrue both employee experience and business benefits, including higher retention rates and long-term recruitment advantages. Forrester’s anywhere-work readiness calculator will help companies pursue the benefits of anywhere-work and design an action plan based on their readiness.

     

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