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Health Management Technology News
  March 21, 2014
In this issue:
 

► HMT Exclusive: Teenage hackers aren't your biggest worry

► Midmark announces improved connectivity

► TeleTracking, Hill-Rom sign RTLS cross-selling agreement

► Administration plays to young in health push

► Bryan Roberts: Health care venture capital's billion-dollar man

► The NHS is being put up for sale to private healthcare companies


HMT Exclusive: Teenage hackers aren't your biggest worry

Many healthcare organizations rely primarily on their IT departments to prevent data breaches. C-suite leaders are apt to congratulate themselves if their security systems pass so-called “penetration tests” with flying colors. But here’s the bad news: only 8% of the data breaches listed on Health & Human Services’ “Wall of Shame” are due to hacking. That means that 92% of data breaches come in the form of simple yet costly human errors: losing a laptop, taking a coffee break without locking down a keyboard, and so on.

These aren’t the kind of data breaches that make national news, like the ones that occurred recently at Target and Neiman-Marcus. But they carry some very serious costs that can run into the millions, ranging from the obvious (legal/regulatory penalties, remediation, class-action lawsuits) to the unforeseen (such as major disruptions to clinical and operational performance or lost business due to reputational damage).

Read the full HMT exclusive article here ► 

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Midmark announces improved connectivity

Midmark Corporation announced that Midmark IQvitals is now integrated with the recently released version of Amazing Charts’ electronic medical record (EMR) software. The completed integration allows healthcare providers using Amazing Charts EMR v6.6.1 to interface directly with Midmark IQvitals, simplifying workflow and providing easy access to meaningful patient data at the point of care.

Midmark’s IQvitals is a Windows-based touch screen device that provides automated blood pressure, temperature, Sp02 and pulse rate readings with a touch of a screen. Physicians and caregivers can use the system either as a standalone unit or connect it to a computer using IQmanager software or an EMR/EHR (electronic health record) solution. The digital diagnostic device is the most recent component of Midmark’s IQ Digital Diagnostic System to be integrated with the Amazing Charts EMR software, joining Midmark IQholter, Midmark IQspiro and Midmark IQecg. The system’s collection of easy-to-use digital diagnostic devices and software solutions enable physicians and caregivers to quickly and accurately capture, interpret and retrieve patient information.

“With the healthcare industry evolving and placing increasing emphasis on patient-caregiver engagement, it’s important that physicians and caregivers have the accurate information they need to deliver the best patient care possible,” said Jerome Chevallier, Ph.D., senior manager, EMR business development, Midmark. “Integrating digital diagnostic testing with EMR systems such as Amazing Charts helps enable healthcare providers to increase efficiency, reduce errors and advance patient care.”

 Read the full Midmark press release here ► 

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TeleTracking, Hill-Rom sign RTLS cross-selling agreement

TeleTracking Technologies, Inc. and Hill-Rom announced they are expanding a long-standing collaboration aimed at automating the healthcare clinical environment with a new agreement that increases the RTLS cross-selling rights of both companies.

The agreement makes Hill-Rom, worldwide provider of hospital clinical workflow solutions, a licensed reseller of TeleTracking's asset and temperature tracking software and gives TeleTracking, a global leader in automated capacity management solutions, the re-sale rights to Hill-Rom's market-leading hand hygiene compliance solution.

For several years, the companies have collaborated by helping joint clients integrate TeleTracking's patient flow system with Hill-Rom's Navicare platform in order to increase throughput efficiency.

"The TeleTracking – Hill-Rom collaboration elevates an existing relationship and includes joint sales opportunities for new customers," said Michael Gallup, TeleTracking President. "We both share the same goal of improving efficiency for healthcare providers, and we believe the customer will get the greatest benefit of all."

Read the full Providence Journal article here ► 

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Administration plays to young in health push

Russian troops were rolling through Crimea when Denis R. McDonough, the White House chief of staff and a foreign policy expert, was deployed on a mission to do media outreach. But the focus of Mr. McDonough’s calls to local talk radio stations was not geopolitical tensions in Eastern Europe, it was health care.

Mr. McDonough chatted with Andy Baskin and Jeff Phelps, hosts of a popular sports talk radio program on WKRK-FM (92.3) in Cleveland, about the coming N.F.L. draft, basketball at the White House and his days playing college football in Minnesota. Mr. McDonough then pitched a new website featuring games, videos and superstar athletes explaining the benefits of health insurance: a sports-themed portal to HealthCare.gov.

“We’ve all seen it happen,” said Mr. McDonough, promoting the portal,GamePlan4Me, to the hosts of “Baskin & Phelps” and their mostly young, mostly male audience. “Somebody’s playing hoops, and they blow out a knee or something. And then all of a sudden, if you don’t have health care, you’re going to bankrupt yourself.”

Read the full New York Times article here ► 

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Bryan Roberts: Health care venture capital's billion-dollar man

In the world of venture capital, health care-focused investors are often thought of as second-class citizens (if they're thought of at all). Their investments are more scientific than sexy, and often require heavy capital outlays with lower-multiple returns.

One enormous exception to this rule, however, is Venrock partner Bryan Roberts. Last week, a health care SaaS company Roberts co-founded and incubated -- Castlight Health -- saw its stock jump nearly 150% after going public, and today opened trading with a full-diluted market cap in excess of $3 billion. It is the sixth $1 billion+ company of Roberts' venture capital career, which is a record that would make most consumer or enterprise software VCs green with envy. The others are:

  • Illumina, where Roberts led the Series A. Current market cap is over $21 billion.
  • Ironwood Pharmaceuticals, where Roberts led the Series A. Current market cap is $1.7 billion.
  • Ikaria Inc., where Roberts led the seed round. Late last year, private equity firm Madison Dearborn Partners agreed to buy Ikaria for $1.6 billion.
  • Sirna Therapeutics, where Roberts led a PIPE recap at a $6 million valuation. Later sold to Merck & Co. for $1.1 billion.
  • Athenahealth, where Roberts led the first institutional round at a $10 million valuation. Current market cap is around $6.5 billion.

Roberts also had a second company go public last week, when antibacterials developer Achaogen Inc. raised $72 million at a valuation north of $200 million (it's shares have risen 35% since the IPO).

Read the full Fortune article here ► 

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The NHS is being put up for sale to private healthcare companies

So far this year, hardworking and dedicated NHS staff have seen continued attacks on their pay and conditions, as well as the continuing creation of a health service dominated by private healthcare companies. The NHS, as the British public has known it since its foundation in July 1948, is being transformed before their very eyes.

The 1.3 million NHS staff have seen their pay being eroded by up to 15% since 2009, by the down-banding of staff grades and loss of on-call payments. Some of our members have seen their incomes plummet by a third. The screw was turned even more viciously last week when Jeremy Hunt vetoed the recommendation for all staff to receive a very modest 1% pay rise. Some 600,000 staff are, therefore, being denied a cost of living rise on 1 April.

Behind this continued depression of wages of nurses, health visitors, paramedics and speech and language therapists is the deep-rooted intention of the coalition to privatise large swathes of the NHS as quickly as possible. The Tory party has strong links with private healthcare companies, which are set to garner rich pickings. Since last April, 70% of the contracts awarded for NHS work have gone to the private sector.

Read the full The Guardian article here ► 

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