Blog

VitalWare™ Introduces Advanced Charge Auditing Capabilities within Existing VitalAuditor™ Tool

VitalWare, a leading provider of revenue cycle SaaS solutions, today introduced ChargeAssuranceTM, a new solution with advanced features to add charge audit capabilities within the existing VitalAuditorTM mid-revenue cycle solution.

VitalAuditor™ gives our healthcare provider partners a granular view of their mid-revenue cycle performance through retrospective claims auditing and coding analytics. With the addition of the ChargeAssurance module, VitalAuditor now assists healthcare providers in building world-class charge assurance processes across inpatient and outpatient service lines. With our automated compliant charging and coding analytics, ChargeAssurance identifies missed charges and overcharges that can be tracked to the root cause level. The resolution of those charging issues leads to improved compliance, cost capture, and increased revenue. By adding ChargeAssurance, providers minimize revenue leakage, see less over- and undercharges, and impact coding and billing practices that lead to a more efficiently run mid-revenue cycle.

Kerry Martin, CEO of VitalWare, comments “I am very excited to add ChargeAssurance functionality to our VitalAuditor platform and assist our hospital clients in finding additional revenue to further their ability to care for patients.”

Read More

Iora Health Looks to ‘Kick the Industry in the Behind’

Boston-based Iora Health, the care team-oriented Medicare Advantage primary care provider, this month secured $100 million in funding to support its growth and technology platform.

Rushika Fernandopulle, MD, co-founder and CEO of Iora Health, spoke with HealthLeaders Media about the provider’s plans for expansion, and the care model that he believes can transform healthcare delivery.

The following is an edited transcript.

Fernandopulle: We obviously think we are unique, although increasingly the rest of the world is figuring out that we’re going in the right direction. We’re saying that if we want to change healthcare, then we have to change how actual people get actual care, not just nibbling around the edges. A good place to start is primary care.

The primary care model, which is take-a-number reactive and receive-a-service transactional, isn’t what we need. What we need is a radically different model that is relational. And that is what we are doing.

Read More

RiskRecon is a Finalist for the 2018 Red Herring Top 100 North America Award

SALT LAKE CITY–RiskRecon, a rapidly growing company transforming the management of third-party cyber risk, announced today it has been selected as a finalist for Red Herring’s Top 100 North America award, a prestigious list honoring the year’s most promising private technology ventures from the North American business region.

The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across North America. The nominees are evaluated on 20 main quantitative and qualitative criterion, which include disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy, and integration into their respective industries.

“It’s been a time of incredible growth and product innovation,” said Eric Blatte, President and Co-founder of RiskRecon. “We’re thrilled to be recognized for our unique, scalable approach to third-party cyber risk monitoring that gives clients actionable insights from accurate, risk-prioritized security measurements.”

Read More

Benchling Raises $14.5M From Benchmark to Advance Life Sciences Research

SAN FRANCISCO — Today Benchling, the data management and collaboration platform built to advance life sciences research, announced it has closed $14.5M in Series B funding. The round was led by Benchmark, with participation from F-Prime Capital, a global venture capital firm associated with Fidelity Investments, and returning investor Thrive Capital. Benchmark General Partner Eric Vishria will be joining the board of directors.

The new funding comes as the company’s ARR skyrocketed 500% and its customer base tripled year-over-year. Today, more than 100,000 scientists across enterprises and academia are using Benchling. Since its last funding round in 2016, Benchling has seen leading pharmaceutical and biotech customers, such as Regeneron Pharmaceuticals, Incyte, Editas Medicine, Agenus, Zymergen, and Obsidian Therapeutics, standardize on its R&D platform.

“Regeneron has been led by physician-scientists for our entire 30-year history,” said Nicholas Papadopoulos, Ph.D., Senior Vice President, Research & Development Operations at Regeneron. “Since our founding, science has remained our central guiding principle. Benchling fits perfectly into this philosophy, providing us a flexible informatics platform that enables our scientists to focus on high-impact research and deliver life-transforming medicines.”

Read More

PatientPing Partners with WISHIN to Advance Care Coordination Throughout Wisconsin

MADISON, Wis. — The Wisconsin Statewide Health Information Network (WISHIN), Wisconsin’s designated entity for Health Information Exchange (HIE), is pleased to announce an innovative partnership with PatientPing, the nation’s leading care-coordination platform, to improve care coordination across hundreds of hospitals, clinics, post-acute care facilities, ACOs, health plans and other community health care organizations throughout Wisconsin.

Through this partnership, participating payers and providers will benefit from access to PatientPing’s real-time patient information– “Pings” and “Stories” –to better coordinate patient care. These notifications, from 1,500 sites of care in WISHIN’s statewide network, plus thousands more in PatientPing’s national network, offer payers and providers increased visibility into patient encounters outside their virtual four walls, and even across state lines. This advancement of care-coordination technology is especially valuable as providers become increasingly responsible for patient outcomes and as the federal government continues to push for increased interoperability across the care continuum.

Read More

Flywire and UnionPay Partner to Take the Cost Out of Cross-Border Payments from China

BOSTON — Flywire and UnionPay International are providing Chinese students and patients with discounted foreign exchange rates on cross-border tuition and healthcare payments now through the end of 2018. The offer is available to international students and patients originating from China and attending any school or receiving care at any healthcare institution around the world that offers Flywire as a preferred method for international payments. Payers using a UnionPay credit card will get the same foreign exchange pricing as a bank transfer – the lowest cost card payment option available.

China is the number one source of international students studying around the world. According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), over 800,000 Chinese students pursued education abroad in 2016. China is also a major source of international patients around the world. More than 500,000 Chinese patients traveled abroad for healthcare in 2016 according to Ctrip.com, a 5X increase from 2015. On average, each of these patients spent over 50,000 Chinese Yuan or approximately US $7,800.

Read More

Denali Therapeutics and AbCellera Announce Collaboration to Discover New Antibodies to Treat Neurodegenerative Diseases

VANCOUVER, British Columbia — AbCellera Biologics Inc. today announced the successful completion of the first phase of its collaboration with Denali Therapeutics Inc. (NASDAQ: DNLI). Under the collaboration, AbCellera applied its single-cell screening technology to discover hundreds of novel monoclonal antibodies with specific binding properties against a genetically-validated target for neurodegenerative disease.

Denali’s CEO, Ryan Watts, Ph.D., commented, “We are thrilled to collaborate with AbCellera to discover biologics candidates that leverage our proprietary Antibody Transport Vehicle (“ATV”) to cross the blood-brain barrier and that could ultimately benefit patients suffering from neurodegenerative diseases. We are impressed with the AbCellera team’s expertise and approach.”

AbCellera performs ultra-deep screening of natural immune repertoires from any species to discover antibodies from millions of single cells per run, including plasma cells, B-cells and antibody-secreting cells. AbCellera’s platform supports a wide array of single-cell antibody selection assays, combining multi-step and multiplexed binding measurements, and live-cell assays. The combination of speed, screening depth, and greater specificity generates thousands of high-quality antibodies, and translates to successful discovery against difficult targets such as membrane proteins, GPCRs and ion channels.

Read More

TraceLink Tracks Down $60M to Fight Counterfeit Drugs Worldwide

Xconomy Boston — A global proliferation of subpar and fake prescription drugs is driving more investment into businesses combating the problem with new software-based systems for tracking the supply chain of pharmaceuticals.

TraceLink is one of those companies on the rise, and the North Reading, MA-based firm recently raised $60 million in a new venture capital round, according to a document filed with the SEC. That brings TraceLink’s total equity funding to at least $137.2 million, per SEC filings. Its investors include Goldman Sachs, FirstMark Capital, Volition Capital, and F-Prime Capital. TraceLink officials couldn’t be immediately reached for comment Monday morning.

TraceLink sells cloud-based software that enables companies in the pharmaceutical industry to perform various tasks around authenticating and tracking the drugs they work with. That includes meeting regulatory compliance standards, storing what can be a massive amount of data created by tracking individual packages of drugs, and interacting with other companies that use TraceLink (such as manufacturers coordinating with distributors).

As Xconomy has reported, the nine-year-old company aims to not only let customers track large amounts of data, but its software is also meant to let them exchange data on the platform, almost like a social network, co-founder and CEO Shabbir Dahod said in a 2015 interview.

Read More

Flywire Chief People Officer to Speak at the Future of Work Summit

LONDON and BOSTON — Flywire chief people officer Kelly Hartman, will be part of a panel discussion on managing and inspiring the new workforce at the Future of Work Summit taking place this week at Workplace by Facebook in London. The event is part of London Tech Week, a festival of tech and innovation that will bring together 55,000 attendees at hundreds of different events across the city.

The Future of Work Summit, which happens on Thursday, 14 June, focuses on how companies can leverage technology and talent to accelerate collaboration, communication and success in the new workplace. The event will feature practical examples of how technology has transformed tech giants’ working environments for the next generation. It will also feature interactive, C-level debates about how the new workforce generation is driving a change of culture in organizations, emerging leadership requirements, and automation’s impact on the role of human resources.

Flywire serves businesses, educational institutions, and hospitals around the world and has established its platform as the preferred solution for global payments and receivables processing. Hartman owns responsibility for Flywire’s worldwide efforts in organisational development, culture change, talent acquisition, talent management, executive learning and development, compensation, and succession planning. She supports Flywire’s business across the globe, from Europe and beyond including North America as well as the Asia-Pacific region.

Read More

Hua Medicine Planning Hong Kong IPO

Diabetes company Hua Medicine Ltd. (Shanghai, China) filed for an IPO on the Hong Kong stock exchange underwritten by Goldman Sachs and CLSA Capital Markets.

Hua is the second biotech company to file for a Hong Kong listing since Hong Kong Exchanges and Clearing Ltd. (HKEX) opened a new prerevenue biotech chapter on April 30. Antiviral play Ascletis Pharma Inc. (Hangzhou, China) is also planning a listing, with Goldman Sachs among its underwriters (see BioCentury Extra, May 7).

Hua initially contemplated a U.S. IPO, but reconsidered based on the HKEX changes. EVP and CFO George Lin told BioCentury in January that Hua was aiming to raise $150 million in an IPO in 2H18. The company subsequently declined to comment on reports that it would seek $400 million in the listing (see BioCentury, Jan. 25).

Read more