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Yes they are Tz1, Merry Christmas to you & your family & stay safe thru the holidays.
MMRGlobal CEO Robert H. Lorsch said, “Based on the comprehensive nature of the Company’s growing patent portfolio, we are signing agreements with institutional investor funds that specialize in helping companies with significant intellectual property portfolios manufacture, distribute and license their products and services. This newest patent is additive to MMR in that it allows for Web-enabled wireless devices to provide secure access to one’s personal, protected health information in a disaster or emergency situation (www.mmrontv.com).
MMRGlobal Receives 9th HIT Patent for Secure Web-Based Wireless Access to... read for yourself.
https://www.facebook.com/MMRGlobal/posts/679472788759900?notif_t=notify_me
No SSC, didn't see any FB post like you mentioned nor did any of those get mentioned when he & I spoke last Friday.
You, I & many others have been here a long time & I think we're going to know something shortly. Didn't help lawmakers in DC put off meaningful use for a while longer.
If I don't chat with you again... you & your family have a good, safe holiday & season.
PS. everyone get their Mega Million ticket today & Go Chiefs!!!
From MMRGlobal's FB page an hour ago.
Stay in touch with the latest MMR Patent Litigation news which is very much on the move going into the new year. In response to numerous requests for the latest news on the Company's patent claims, visit Pacer.gov for all the publicly available filings which include the MyMedicalRecords Reply In Support of Motion to Strike Invalidity Contentions in Walgreens as well as numerous other filings dated 12-16-2013.
Also visit the http://www.MMRGlobal.com/ Investor Relations site for the Company's news release dated 12-16-2013 pertaining to patent matters.
Happy Holidays!
Is this company completely done?
Fleck no, I was just posting an article that explained Markman hearings.
T. Boone Pickens was on the FNC (Fox Business Network) today, did anyone see it. I had to miss it but I believe they were going to talk about him getting into the hedge fund business & what it would take to make natural gas a success in the US.
Strategies for Successful Markman Hearings - King & Spalding
http://www.kslaw.com/library/event/agenda/markman0105.pdf
Markman Hearings and Their Critical Role in U.S. Patent Litigation
http://www.finnegan.com/resources/articles/articlesdetail.aspx?news=9a8bf39b-c419-4329-9f6a-08ac0a647c7c
Patient access to electronic notes may become 'standard of care'
December 12, 2013 | By Marla Durben Hirsch
Link To Article: http://www.fierceemr.com/story/patient-access-electronic-doctor-notes-OpenNotes-program/2013-12-10
Allowing patients access to physicians' electronic notes is becoming more popular, and is influencing the content of the notes themselves, according to a new op-ed article in the New England Journal of Medicine.
The article, written by several participants in the OpenNotes experimental program, states that while the initiative has been welcomed by both patients and physicians, it has changed their approach and drafting of the notes.
Patients are now more careful about what they share with physicians and desire more control over the information. The clinicians are wary about how they phrase notes, particularly about sensitive medical conditions.
They also express difference preferences about sharing the notes, with some clinicians wanting to hide some of the note or the ability to communicate with colleagues privately. And, of course, there's increased concern about protecting the privacy of the notes.
The Cleveland Clinic recently made office notes available through its patient portal, David Levin, M.D., CMIO of the Cleveland Clinic, told FierceHealthIT in a recent interview. Hospital notes are coming soon, he said.
Levin, who spoke at this week's mHealth Summit about using moblile technologies to improve patient satisfaction added that it has caused a stir among physicians but patients seem to like it. "We have to acknowledge this is new and we're still learning," he said. "But initially it's been overwhelmingly positive."
The op-ed authors predicted that as nearly two million Americans now have access to their electronic notes, open notes will become the standard of care.
"Regardless of the setting, open notes can help improve patient safety by allowing contributions from patients and families who may catch questionable statements or clinically important mistakes in notes or find lapses in follow-up that need to be rectified," the authors wrote.
Levin has had the same experience at Cleveland Clinic.
"We're actually finding patients help us fill in gaps in the record and find errors in the record. And I know that makes some people queasy," he told FierceHealthIT. But we think this is a boon for patient safety. The position I take is the error is already there. This is about all of us working together to correct it."
OpenNotes, a one-year experimental program, involved 105 primary care physicians and 13,564 patients at Geisinger, Beth Israel Deaconess Medical Center in Boston, and Harborview Medical Center in Washington. The program alerted patients by email each time their physician posted a note about the patient into the patient's EHR. The patient could then access the note through a patient portal.
Fully 99% of patients in the experiment recommended that this transparency continue, reporting an increased sense of control, greater understanding of their medical issue and improved recall of their plans of care. The physicians found that the note sharing strengthened their relationships with some patients and may have improved patient safety and satisfaction. The concept has since been expanded within not only by the original health systems but also beyond to other hospitals.
To learn more:
- read the op-ed
Related Articles:
mHealth13: Patient-centered care will drive mobile adoption
At Cleveland Clinic, the data is all about the patient
Experts: use patients to reduce errors in EHR records:
Access to Personal Health Records boosts patient loyalty
Access to EHR data 'overwhelmingly' positive for patients
Geisinger to expand patient access to docs' notes
Medtech vendor releases product line to boost EHR adoption, patient care
A product portfolio has been unveiled by Lincor Solutions to boost providers' patient engagement efforts. The LINC product line includes solutions to enhance EHR adoption, clinical outcomes and patient satisfaction scores in hospitals and health systems. "Our new products provide a range of user-friendly solutions that can be adopted individually, or combined, to meet hospitals' unique goals around HCAHPS scores, readmission reduction and technology adoption," said Lincor CEO Richard Cooke. Nashville Post (Tenn.)/PostBusiness blog (12/10)
Lincor launches product portfolio
Published December 10, 2013 by NashvillePost.c...
Nashville-based medical technology solutions provider Lincor Solutions Inc. has launched a portfolio of products for delivering its patient engagement technology to hospitals and health systems.
Powered by technology that provides access to clinical, administrative and entertainment systems within a single platform, Lincor’s LINC product portfolio offers solutions for increasing patient satisfaction scores, improving clinical outcomes, reducing unnecessary readmissions and facilitating electronic health record (EHR) adoption, the company said in a release.
The introduction of LINC, which replaces MEDIVista, follows the company’s June hiring of two key officials (read more here) and its March announcement it had moved its headquarters to Nashville (read more here).
New links between hospitals’ Medicare reimbursement and their performance on patient satisfaction surveys, readmission rates and the Meaningful Use of EHRs have made patient engagement a financial imperative, according to Lincor CEO Richard Cooke (pictured). In the first year of the Hospital Readmissions Reduction Program, for example, the Centers for Medicare and Medicaid Services charged 2,213 hospitals about $280 million for excess readmissions.
“Lincor is dedicated to empowering patients by giving them the tools and technology to become engaged in and informed about their care. Given the new reimbursement environment, we understand there’s a lot at stake for hospitals,” Cooke said in the release. “Our new products provide a range of user-friendly solutions that can be adopted individually, or combined, to meet hospitals’ unique goals around HCAHPS scores, readmission reduction, and technology adoption.”
http://nashvillepost.com/blogs/postbusiness/2013/12/10/lincor_launches_product_portfolio
Meaningful-use deadline pushed back one year
The CMS is giving providers another year to show they’ve met the Stage 2 criteria of the federal government’s incentive program to encourage the adoption and meaningful use of electronic health records. That means the start of the next phase will be pushed back a year. Read More at ModernHealthcare.com »
http://www.modernhealthcare.com/article/20131206/NEWS/312069950?AllowView=VDl3UXpKSzdDdktCbkJiYkY0M3hla0dwaVVVZEQrWT0=&utm_source=link-20131206-NEWS-312069950&utm_medium=email&utm_campaign=hits-alert
AHN getting big IT upgrade
Big things are in store for Allegheny Health Network and its patients as Highmark Health Services prepares to make an information technology upgrade, slingshotting the hospital system ahead of other networks in the region while improving quality of care and curbing costs.
Highmark is loaning the health network $178.3 million to replace its electronic medical records system, which the state Insurance Department approved Oct. 24. AHN will get a “one view-one tool” system that will allow medical staff, hospitals, outpatient surgery centers and other clinics to seamlessly access the same medical records, said Chief Medical Officer Tony Farah.
“The benefits to patients are priceless, huge,” Farah said. “Most large systems don’t have one single system. Every time you add an interface, it adds barriers, inefficiencies.”
Installation could be completed within two years, Farah said. Verona, Wisc.-based software giant Epic Systems Corp. will provide the equipment, the same system that has been used for years by Cleveland Clinic and other big academic medical centers. AHN's new system will be a first in western Pennsylvania and the rollout will include Jefferson Hospital and St. Vincent hospitals.
Among the potential advantages of a single system is speed in the delivery of care, fewer unnecessary tests, resulting in improved patient care at a lower cost than otherwise possible. Different brand electronic medical records systems, for example, can identify something as simple as patient gender in different ways, complicating communications.
Such an expenditure can be transformative for a health system, Cleveland Clinic CIO David Levin said. But the key is proper implementation.
http://www.bizjournals.com/pittsburgh/news/2013/12/04/wpahs-to-get-big-it-upgrade.html
As I have thought about that quote all day I have kind of concluded the term "Successfully" to be a neutral word. Neither good or bad. Though I do question why it quote was posted twice today on FB? I noticed it again being posted about 3 or 4 CST I think & the morning post was gone. Apparently deleted.
Take care FJ74 & MMRF boardees, stay safe.
PS: Couple of articles below, Bone is going green, conserving on my post... LMAO! BooYah!
ONC: Meaningful Use Stage 2 delay not likely
http://www.fierceemr.com/story/onc-meaningful-use-stage-2-delay-not-likely/2013-11-20
RSNA13: Why patient-centered care must be a priority
http://www.fiercemedicalimaging.com/story/rsna13-why-patient-centered-care-must-be-priority/2013-12-04
Tulaz1, I like your thinking
Deadline approaches to report EHR meaningful use:
The CMS has issued a reminder that the EHR incentive deadline for meaningful use reporting is Dec. 31. Payment adjustments for those who fail to report by the deadline will be applied starting Jan. 1, 2015. EHR Intelligence (12/2)
http://ehrintelligence.com/2013/12/02/dec-31-ehr-incentive-program-reporting-deadline/
Tips for Getting Patients to Adopt Your Patient Portal:
http://www.physicianspractice.com/blog/tips-getting-patients-adopt-your-patient-portal?GUID=F8F0782F-425F-40DE-9B50-632EB9F800B6&rememberme=1&ts=03122013
Health Insurance Exchanges: Two Key Issues to Discuss with Patients:
http://www.physicianspractice.com/blog/health-insurance-exchanges-two-key-issues-discuss-patients?GUID=F8F0782F-425F-40DE-9B50-632EB9F800B6&rememberme=1&ts=03122013
Electronic Health Records' ‘Make-or-Break Year’:
http://www.businessweek.com/articles/2013-11-14/2014-outlook-electronic-health-records-make-or-break-year
Webinar: Building patient engagement one step at a time:
http://www.fiercehealthcare.com/offer/healthwise?source=fmispon
Dolbey gets patent for Fusion SpeechEMR technology:
By AuntMinnie.com staff writers
December 2, 2013 -- Informatics firm Dolbey has received a new patent from the U.S. Patent and Trademark Office for its speech recognition and dictation technology.
U.S. Patent No. 8,589,160 describes the technology used in the company's Fusion SpeechEMR product, which allows physicians to use speech recognition to insert text into almost any free form text area within any electronic health record (EHR) or third-party application, without the need for specialized integration, Dolbey said.
http://www.auntminnie.com/index.aspx?sec=sup&sub=ris&pag=dis&ItemID=105784
I don't know if it is publicly traded, the company is in Southern Australia. Also I noticed or could not find a date that it was published.
Anyone see this?
Link to article: http://oilandenergyinvestor.com/ext/articles/massive-20-million-oil-discovery-is-deathblow-for-saudis.php?src=taboola&track_id=adv_ead&ad=saudi3
Massive Oil Discovery Is Deathblow For Saudis
It's the biggest find in 50 years and the media is completely ignoring it...
It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.
All told the recent discovery outside a sleepy Australian town contains more black gold than in all of Iran, Iraq, Canada, or Venezuela.
The current estimates of 233 billion barrels are just 30 billion barrels shy of the estimated reserves in all of Saudi Arabia.
Now, one renowned international energy expert predicts the proven reserves will be much bigger.
"The find may land at 300 or 400 billion barrels, making it one of the greatest unconventional oil discoveries any of us will see in our lifetimes," says Dr. Kent Moors and advisor to six of the top 10 oil producers and active consultant to 20 world governments.
"It represents a bona-fide redrawing of the global energy map as we know it," Moors says, "and the mainstream media is completely ignoring it."
Editor's Note: Experts value this find at over $20 trillion. To see the one stock that will deliver a record payday, go here.
Where the Hell is Coober Pedy?
To the people who call this place home, the oncoming oil boom means nothing will ever be the same ($20 trillion worth of oil can do that to a town).
The boom is centered around a place called Coober Pedy, an inhospitable speck on the map in Southern Australia.
The big draw is the riches found in the region's vast geological structure, the Arckaringa basin.
Encompassing an area in excess of 30,000 square miles, what's buried within the basin is enough black gold to completely change the global oil landscape-not to mention the lives of early investors.
Analysts believe this is equivalent to investing in Saudi Arabia in the early 1950's.
And according to this inner circle briefing by Dr. Moors, one little company controls the whole thing.
Editor's Note: This is the biggest find in 50 years and it will create unheard of fortunes for investors who act now. Watch this unbelievable video to learn more.
The Death Knell for OPEC
This massive find has been likened to the Bakken and Eagle Ford shale oil projects in the U.S., which have created legitimate boom times in Texas and North Dakota.
Even at the lowest estimate, Coober Pedy is set to make Australia a net oil exporter; at the higher estimate, Australia would become one of the world's biggest oil exporters.
"What we're seeing up there is a very, very big deposit," says South Australia's mining minister, Tom Koutsantonis, "This is a key part to securing Australia's energy security now and into the future."
Editor's Note: Access to Dr. Moors' exclusive briefing on the investment potential in the Arckaringa basin is available for a limited time only. Go here to view it now.
MMRGlobal Shareholder Update on Walgreens Litigation, from the MMRGlobal FB page
Los Angeles, California (December 2, 2013) MyMedicalRecords, Inc., through its wholly owned subsidiary, MMRGlobal, Inc. (OTCQB: MMRF) (collectively, “MMR”), today announced that Walgreen Co. filed a Joint Stipulation requesting additional time to respond to a motion brought by MyMedicalRecords. The November 26, 2013 filing states, amongst other things, that during the week of November 11, 2013 and prior to filing MMR’s motion, the parties engaged in various telephone conversations regarding a resolution to MMR’s patent infringement case against Walgreen Co. filed in the United States District Court, Central District Case No.: CV13-00631-ODW (SHx). Ultimately the parties agreed to an in-person meeting at Walgreen Co. in Deerfield IL on Tuesday November 19, which meeting did occur.
The parties continued to exchange e-mails regarding a resolution to the litigation after the November 19th in-person meeting and continue to discuss a resolution of the matter notwithstanding the pending motion.
As set forth in the stipulation, another follow-up meeting is currently scheduled for December 3, 2013.. The parties desire to focus on a potential resolution over the next week and a half instead of incurring costs and attorneys’ fees associated with this matter.
Based upon the joint resolution, the court granted the stipulation. Find out more at www.mmrglobal.com
Hello FJ74, it says that on his LinkedIn page as well or did you get this from LinkedIn?
http://www.linkedin.com/profile/view?id=15921132&authType=NAME_SEARCH&authToken=aIjR&locale=en_US&srchid=1571465131385858556359&srchindex=2&srchtotal=4&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1571465131385858556359%2CVSRPtargetId%3A15921132%2CVSRPcmpt%3Aprimary
Patients get access to docs' notes online in Milwaukee-area program
Milwaukee Journal Sentinel
Most of the healthcare systems in the Milwaukee area give patients access to key information in their medical records, such as lab results and prescriptions, through secure Internet portals. But Columbia St. Mary's is the first to give them access to physicians' and clinicians' notes.
FULL STORY »
http://www.jsonline.com/business/patients-get-access-to-doctors-notes-online-in-milwaukee-area-first-b99145737z1-233261571.html
Dr. Sophie Kramer, an internist with Columbia St. Mary's, seen meeting with a patient, is among the physicians who support the move by the health system to give patients online access to their physicians’ notes.
New CMS Guidance on Stage 2 Data Exchange Criteria
http://www.healthdatamanagement.com/news/cms-guidance-ehr-meaningful-use-data-exchange-46930-1.html?ET=healthdatamanagement:e4070:283811a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=HDM_DAILY_112513_112213
The Centers for Medicare and Medicaid Services has issued a four-page guidance sheet to aid eligible professionals in meeting Stage 2 meaningful use requirements covering a summary of care, clinical summary and patient electronic access to their medical record.
The document outlines the required data elements and provides additional guidance, according to CMS. “While some of the data elements are common between these three objectives, other data elements are individual to each objective.”
The guidance walks through the specific information requirements for each measure: 20 for a clinical summary, 12 for patient electronic access and up to 16 for a summary of care. It also provides additional guidance such as making clear that an eligible provider can withhold information that could cause the patient harm.
Further, the guidance also gives reminders of any timelines, such as patients having online access within four business days of the information being available to the provider, and notes instances where information does not have to be made available if it is not in the EHR at the time a summary is provided.
The guidance is available here.
http://www.cms.gov/Regulations-and-Guidance/Legislation/EHRIncentivePrograms/Downloads/Stage2_DataSharing_FactSheetFinal_10182013.pdf
Dr. Halamka O’Reilly Strata Conference–Electronic Medical Records Sharing, Insights, Meaningful Use, Patients, Apps And Processes With “People” More So Than IT. Click on link to read article.
http://ducknetweb.blogspot.com/2013/11/dr-halamka-oreilly-strata.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FPHZF+%28The+Medical+Quack%29&utm_content=Yahoo%21+Mail
Ryan Hatch: Partner at Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP
Bio Page: http://www.linerlaw.com/attorneys.php?sn=1&id=257
LinkedIn Link: http://www.linkedin.com/profile/view?id=79192251&authType=NAME_SEARCH&authToken=h7g7&locale=en_US&srchid=1571465131385231690729&srchindex=25&srchtotal=57&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A1571465131385231690729%2CVSRPtargetId%3A79192251%2CVSRPcmpt%3Aprimary
Summary: Specialties: intellectual property, patent, trademark, trade secret
Experience:
Partner
Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP
September 2013 – Present (3 months)Los Angeles, CA
Attorney:
Latham & Watkins | February 2006 – September 2013 (7 years 8 months)
Attorney:
Pillsbury Winthrop Shaw Pittman | 2004 – 2006 (2 years)
Software Engineer:
Motorola, Inc. | 1999 – 2001 (2 years)
Software Engineer:
Corel Corporation | 1996 – 1999 (3 years)
Education:
University of Wisconsin-Madison | J.D., Law | 2001 – 2004
Activities and Societies: Moot Court
Brigham Young University | B.S., Computer Science | 1995 – 1999
X, saw this on the evening news as well. I bet the Pakistani government is feeling the pressure as well from many sides & countries. I'd also bet the story is some what fictional.
You have a good weekend & stay safe.
JJD, welcome to the board & I believe your making a wise bet. Have a good weekend & stay safe.
Portals useful if patients, providers both take part
By Modern Physician | November 22, 2013 - 12:15pm ET
Regarding “No evidence that messaging portals reduce costs, improve outcomes, review of studies shows”:
Without digging into each study, I can't comment on the factors the reviewers used to determine value.
Portals must be wanted by providers and patients. Then they must be used by both.
I have used portals where the provider does not respond. No value to either of us. I have used portals where all my lab results are available instantly—very useful to me and other providers. Likewise, having the provider notes available the next day makes it better to recall our discussion as well as retrieve those notes with other providers. How would researchers put a value on those uses? Would they only value the provider not having to retrieve, copy and mail those records? What about the value when the patient is in the ER or urgent care and those records play a vital role?
Recently I had a provider tell me I needed to reduce my sodium intake. That advice came without knowing my normal food intake for the last week or my lab results showing low sodium. Having those records changed the tune.
I think that for the interested patient, having the data makes it much better to partner with the provider in achieve optimum results. Both, though, have to want to be partners.
Joe Smith
Las Cruces, N.M
http://www.modernhealthcare.com/article/20131122/NEWS/311229941?AllowView=VDl3UXpKSzRDUGFCbkJiYkY0M3hla0tyalVVZER1Yz0=&utm_source=link-20131122-NEWS-311229941&utm_medium=email&utm_campaign=hits&utm_name=top
http://www.flickr.com/photos/elsbethmorselt/2684447595/in/photostream/
Seniors Increasingly Go Online for Health Information
A small survey of 200 senior citizens in the United States finds many respondents using the Internet to get health information and wanting more.
Accenture conducted the survey in July 2013, which is a subset of a larger survey of more than 9,000 adults of various ages across nine nations on the electronic capabilities of medical providers. Results of the U.S. senior population shows 56 percent of surveyed Medicare consumers visited their health plan Web site at least once during the previous two months, with 67 percent saying online access to their medical information is somewhat or very important to them.
Overall, surveyed seniors are heavy into the Internet, with more than three-quarters accessing it daily. Ninety-one percent use email frequently, 73 percent conduct searches and about one-third visit social media sites.
But seniors want more access to health information, the survey results show. Eighty-three percent of respondents want full access to their electronic health records and 28 percent of them have that today. More than two-thirds want to electronically request prescription refills and 46 percent can do it.
Other health-related online activities that surveyed seniors pegged as important include having a virtual visit with a physician without a co-pay and electronic scheduling of appointments online or via a mobile app.
http://www.healthdatamanagement.com/news/seniors-increasingly-online-for-health-information-46925-1.html
http://www.flickr.com/photos/elsbethmorselt/2684447595/in/photostream/
Hello 3F, you are so right. I said it a few years back... people are eventually going to have to take control of the own medical records. Just turn on the Boob Tube & watch what is taking place in Health Care.
If you think about it... for what reason does any provider, hospital, clinic etc. have to come on board with MMRF of any company???????? The law set by President George W. Bush & strongly supported by President Obama.... Does NOT go into effect till January 1, 2014. Just 39 days from now!
It will come to pass, this company will take off & time is On Our Side.
http://www.flickr.com/photos/elsbethmorselt/2684447595/in/photostream/
I would guess with Money TV you contract for so many episodes in a certain time frame. IMO
Just announced... Samsung to pay Apple 300 million for patent infringement. Looking forward to the judgments regarding MMRF patents.
Health IT Policy Committee's HIE Recommendations for MU3
Written by Helen Gregg | November 21, 2013
The Health IT Policy Committee, a public advisory board to the Office of National Coordinator for Health IT, has recommended meaningful use stage 3 requirements designed to enhance data exchange among healthcare industry stakeholders.
In a letter to Acting National Coordinator for Health IT, Jacob Reider, MD, the committee recommends the following, based on input received from a public Request for Comment on health information exchange requirements for meaningful use stage 3.
EHR-supported patient record queries. In stage 3 EHRs should have the ability to query external EHRs for patients' medical records and also have the ability to respond to such queries from other systems.
EHR-supported provider directory queries. EHR systems should have the ability to query external provider directories to retrieve addressing and security credential information to support query-based record exchange. EHRs should also be able to respond to these queries.
A move toward easier data migration and patient portability. EHR standards and technical specifications should exist that will take the first step towards allowing providers to easily move data from an old to new system or move patient data from a former to a new provider's EHR system.
http://www.beckershospitalreview.com/healthcare-information-technology/health-it-policy-committee-s-hie-recommendations-for-mu3.html
eClinicalWorks Invests $50M in Patient Engagement, Population Health Products
Ambulatory electronic health record vendor eClinicalWorks has announced an additional $50 million investment to develop and enhance patient engagement and population health management products.
Like many EHR vendors, eClinicalWorks is currently developing products that allow customers to meet upcoming meaningful use stage 2 requirements as well as enhance care coordination efforts such as accountable care organizations or patient-centered medical homes.
http://www.beckershospitalreview.com/healthcare-information-technology/eclinicalworks-invests-50m-in-patient-engagement-population-health-products.html
Cone Health Cites Capital Outlay for Epic as Factor in Negative S&P Outlook
Officials at Greensboro, N.C.-based Cone Health point to implementation costs related to a new Epic electronic health record system as part of the reason Standard & Poor's Ratings Services changed its outlook for Moses Cone Memorial Hospital from stable to negative, according to a Winston-Salem Journal report.
The Epic installation cost the hospital approximately $90 million, plus an additional $40 million in operating expenses over the next three years as well as 90 new hires to help maintain and operate the new system, according to the report. These expenses helped lead to the "deterioration in Cone Health's operating performance and in some aspects of its balance sheet over the last two fiscal years," the reason cited for the outlook change, according to the report.
The S&P outlook was also influenced by the hospital's revenue struggles over the past two years and declining Medicare and Medicaid reimbursement.
Cone Health is not the only North Carolina provider to point to its new EHR in the wake of a poor credit assessment. Last week, S&P lowered Winston-Salem, N.C.-based Wake Forest Baptist Medical Center's debt rating from AA- to A+, largely due to the hospital's troubled Epic implementation, according to hospital officials.
Even in light of the S&P assessment, Cone Health officials remain confident about the future. "Cone Health remains financially strong despite that environment. While the negative outlook is disappointing, there is no cause for alarm," said Jeff Jones, the hospital's CFO, according to the report. "We are confident that we have the correct measures in place to meet the future healthcare needs of our communities."
http://www.beckershospitalreview.com/healthcare-information-technology/cone-health-cites-capital-outlay-for-epic-as-factor-in-negative-s-p-outlook.html
Study: Massive EMR Vendor Die-Off Expected Over Next Four Years
Well, if you were waiting for someone to say the sky is falling, here it is. According to Black Book Market Research, more than half of the EMR vendors in business today are going to fail within the next few years.
Right now, according to Black Book estimates, there are almost a thousand EMR vendors in business, including over 600 smaller vendors. But by the time 2017 rolls around (or Meaningful Use 3 hits) more than half of those vendors will be gone, the research firm says.
To get a feeling for the state of the EMR market, Black Book surveyed 880 EMR consultants, analysts, managers and support team members. Ninety percent of those interviewed predicted that the majority of EMR vendors currently implemented will no longer exist as an independent entity. (They’ll either have merged, been acquired or closed up shop, the experts say.)
Eighty-eight percent of those interviewed believe that vendors who fail will have done so because they didn’t focus on usability, trying instead to turn out systems aimed at Meaningful Use compliance.
That being said, there does seem to be a path to continued independence and success for some vendors. Eighty-two percent of survey respondents believe that well-funded small vendors who carve out a strong niche in medical and surgical specialties – or serve buyers in alternative care settings — will pick up market share during this period.
All told, these results are no surprise.
For example, it’s quickly becoming established wisdom that specialty EMRs are helpful and even necessary to specialist physicians. EMRs that attempt to be “all things to all people” are increasingly losing favor with specialists, who want vendors that understand what they do and speak their language.
And the core message — that EMR vendors are going merge, be acquired or go belly up like crazy — is only common sense at this point.
My question is this: will vendors of general-use EMRs begin picking specialties and rolling out related products, or will the weaker all-purpose vendors cling to their model and go down with the ship?
http://www.hospitalemrandehr.com/2013/07/23/study-massive-emr-vendor-die-off-expected-over-next-four-years/
3F it good to see you back, again I am sorry for the loss of your dog. I was wondering if you were planning on attending the 2014 HIMSS Conference in Orlando Florida? Will your beautiful lady be working the MMRGlobal booth again? Smart move on BL's part, I highly advise it.
http://www.himssconference.org/
Well good to see you again, stay safe!
WebMD Announces Proposed Offering of Convertible Notes
NEW YORK , Nov. 20, 2013 /PRNewswire/ -- WebMD Health Corp. (NASDAQ: WBMD), the leading source of health information, today announced that it intends to offer $300 million of Convertible Notes due 2020 in a private placement. WebMD also expects to grant the initial purchaser in the proposed offering an option to purchase up to an additional $50 million aggregate principal amount of notes. The notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.
The notes will be convertible into shares of WebMD's common stock, based on a conversion rate to be determined. Interest on the notes will be payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1 , 2014. The notes will mature on December 1, 2020 unless previously repurchased or converted in accordance with their terms prior to such date. The interest rate, conversion rate, conversion price and other terms of the notes will be determined at the time of pricing of the offering.
WebMD intends to use the net proceeds from the sale of the notes for general corporate purposes, which may include acquisitions and repurchases of WebMD common stock, and for working capital.
The notes and the common stock of WebMD issuable upon conversion of the notes will not be registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States , except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such jurisdiction.
About WebMD
WebMD Health Corp. (NASDAQ: WBMD) is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers, and health plans through our public and private online portals, mobile platforms and health-focused publications.
The WebMD Health Network includes WebMD Health , Medscape , MedicineNet, eMedicineHealth, RxList, theheart.org, Medscape Education and other owned WebMD sites.
EClinicalWorks CEO: We'll hire 100 more for mobile EMR
Nov 19, 2013, 7:29am EST
Privately held health information technology firm eClinicalWorks is pouring another $50 million into its mobile health business unit, known as healow (Health & Online Wellness). The company also plans to hire 100 engineers. CEO Girish Navani said down the road, he’ll also need to add 30 to 40 project managers to handle the rapid growth of the unit.
The Westborough, Mass.-based electronic medical records company launched the division in February with a $25 million investment and 75 workers, promising to grow to 100 by the end of the first quarter. Navani said going into next year, the team will have swollen to between 350 and 400 workers. The new investment and hires will both enhance the existing product offerings and create new patient engagement offerings, he said.
The first product developed by the new unit, a free mobile app for patients, allows patients to access their electronic health records and those of their family members. It will be expanded to include home monitoring tools, appointment scheduling and services for patients checking in at doctors’ offices.
Navani says focusing on patient engagement, population health and wellness is imperative for companies in the electronic medical records (EMR) space.
“Next-generation EMRs will need to include population health and patient engagement tools,” Navani said. “Companies that don’t will not survive in this complex, fast-paced business."
EClinicalWorks has found an eager customer base in the newly forming Accountable Care Organizations (ACOs), which will be responsible for the health of a population. ACOs will be focused on prevention and will increasingly need to engage patients in taking responsibility for helping to manage their own health. The goal for ACOs, which focus on primary care, is to reduce costly hospital stays and improve health outcomes. ACOs are often put on a budget by insurers, and given a lump sum to treat each patient.
Navani said one ACO customer has already seen an 8 percent reduction in medical costs from using the healow app.
Navani would not disclose revenue for the unit but said, “The revenue has surprised us, in terms of the speed to get the products out there and the time to adoption.”
http://www.bizjournals.com/boston/blog/health-care/2013/11/eclinicalworks-to-invest-50m-hire.html