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    Industry News Update 8/6/21

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

    News and Events, Industry Trends

    This week's highlights: The FDA approved the first interchangeable biosimilar insulin product to treat diabetes, Google Cloud rolled out a new tool called the healthcare data engine, and Navin, Haffty & Associates has published its July newsletter, covering the results of their cybersecurity preparedness survey.


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    Regulatory, Legislative,
    and
    Legal News

    • Experts told a U.S. House subcommittee earlier this month that the healthcare industry is unprepared to respond to ransomware and made a number of recommendations on ways to address the issue.

    • The ONC opens the synchronized feedback period for the Interoperability Standards Advisory, the Standards Version Advancement Process, and the draft United States Core Data for Interoperability Version 3.

    • The FDA approved the first interchangeable biosimilar insulin product to treat diabetes last week. The product, called Semglee, can be substituted for the previously approved biological insulin product Lantus to treat type 1 diabetes in children and type 1 or 2 diabetes in adults.

    • Providers will no longer have to disclose their contract terms with Medicare Advantage insurers after the CMS signed off on its 2022 inpatient pay rule Monday. The final rule gives providers a 2.5% increase bump in payments for inpatient services, or $2.3 billion more than 2021.

    Financial
    and
    Investment News

    Apple reported strong fiscal third-quarter earnings this week, demolishing Wall Street expectations. Every one of Apple’s major product lines grew over 12% on an annual basis. Overall, Apple’s sales were up 36% from the June quarter last year. iPhone sales increased nearly 50% on an annual basis.

    BioIntelliSense has raised $45 million for its remote monitoring data platform and symptom-tracking adhesive wearable devices, in a round led by United Arab Emirates-based Chimera Investments.

    Porter announced $1.5 million in seed funding from Venrock, Translink Capital, Soma Capital and several angel investors. Its goal is to build a platform as a service that any team can use to manage applications in its own cloud.

    The Kaufman Hall consulting firm released a report that finds rising expenses are offsetting revenue and volume gains for U.S. hospitals, narrowing margins due to current events surrounding the pandemic.

    New Products
    and
    Services

    Google Cloud rolled out a new tool called the healthcare data engine, currently in private preview, that helps healthcare and life sciences organizations harmonize data from multiple sources, including medical records, claims, clinical trials and research data, providing a holistic view of patient longitudinal records, and enabling advanced analytics and AI in a secure and compliant cloud environment.

    The FDA has cleared a system from RealView Imaging called Holoscope-i that creates accurate, three-dimensional holograms of a patient’s organs, giving surgeons a new opportunity to interact with their anatomy and orient themselves prior to any procedure. It assembles its holograms from CT and 3D ultrasound scans and projects them from a device suspended over the surgeon’s head, allowing the user to manipulate the image with their hands, without augmented reality headsets or other equipment.

    PadInMotion rebrands to Equiva and announces GA of its new health relationship management software, which combines patient engagement, care management, and marketing capabilities.

    Privacy
    and
    Security

    Google recently announced its plans to introduce a new “safety section” on Google Play that offers more information about the data apps collect and share, and other security and privacy details.

    Zoom has agreed to settle a class-action US privacy lawsuit for $85 million. The suit charged that Zoom's sharing of users' personal data with Facebook, Google and LinkedIn was a breach of privacy for millions.

    Google will no longer let you sign into the company's apps on devices running Android 2.3.7 (Gingerbread) or lower from September 27th onward.

    Researchers have found almost a dozen vulnerabilities in a popular brand of pneumatic tube delivery system that many hospitals use to carry and distribute vital cargo like lab samples and medicine. Swisslog Healthcare’s pneumatic tube systems are used in 3,000 hospitals worldwide.

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    Other
    Industry
    News

     

     

    Navin, Haffty & Associates has published its July newsletter, covering the results of their cybersecurity preparedness survey for the MEDITECH community, a recap of the MEDITECH 2021 Nurse Forum, a review of the benefits of cloud hosting and Traverse, and a summary of new client projects.

    HIMSS21 attendees will now be required to wear masks at the event while indoors after state and local officials issued requirements to do so regardless of vaccination status.

    The ONC Tech Forum is now scheduled for September 10th and 17th, 2021. The agenda is available and registration is open for the all-virtual 2021 ONC Tech Forum at this link.

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