Teladoc announces Q3 results: total revenue of $20 million, up 83 percent over Q3 2014; membership of 12.6 million users; and nearly 118,000 visits, up nearly 90 percent year over year. The company experienced an operating loss of $13.2 million, and expects to see revenue of between $21 and $22 million at the end of Q4. CEO Jason Gorevic noted during the earnings conference call that the company had signed up 500 new clients in Q3 alone, including Starbucks, Dell, Merck, Marriott, and Mercedes-Benz.
November 11 (Wednesday) 2:00 ET. “Trouble Upstream: The Underinsured and Cash Flow Challenges.” Sponsored by TransUnion. Presenter: Jonathan Wiik, principal consultant, TransUnion Healthcare. The average person spends nearly $15,000 per year on healthcare as deductibles keep rising. Providers must educate their patients on plan costs and benefits while controlling their own collection costs by using estimation tools, propensity-to-pay analytics, and point-of-sale collections. This webinar will highlight industry trends in managing underinsured patients and will describe ways to match patients to appropriate funding.
November 12 (Thursday) 1 :00 ET. “Top Predictions for Population Health Management in 2016 and Beyond.” Sponsored by Medecision. Presenters: Tobias C. Samo, MD, FACP, FHIMSS, CMIO, Medecision; Laura Kanov, BS, RRT, MBA, SVP of care delivery organization solutions, Medecision. With all the noise and hype around population health management, the presenters will share their predictions for 2016 and their insight into meeting the mounting pressures of value-based reimbursement and the tools and technology needed to manage care delivery.
Announcements and Implementations
Aprima selects Kno2’s Direct messaging platform to better enable its customers to meet requirements for electronic transmission of Transition of Care documents as required by Stage 2 of Meaningful Use.
Office Ally integrates TSI’s collections interface into its Practice Mate PM and EHR platform. In addition to making a practice’s collection log and activities more transparent, the integrated system will aid in the transfer of delinquent patient accounts to TSI for collections.
The NC Medical Society Foundation receives a three-year, $440,500 grant from the Kate B. Reynolds Charitable Trust, which it will use to help up to 15 rural physician practices transition to value-based care. The foundation has tapped Highpoint, NC-based Chess to lead the program. The healthcare services firm will offer the practices healthcare IT support, training in care coordination and patient engagement, and advice on how to integrate with community health and faith-based resources, with the ultimate goal of preparing the practices to transition to a Medicare ACO business model.
Sanctus Healthcare implements chronic-care management services from McKesson Business Performance Services across its multispecialty Pacific Private Practice network of 212 independent physicians in Orange County, CA.
Acquisitions, Funding, Business, and Stock
RCM and analytics vendor Encoda acquires Strategic Management Consultants. Terms of the deal were not disclosed. SMC President and CEO Bobby Mehan will join Philadelphia-based Encoda as vice president of business development. SMC will take on the Encoda name; its operations will remain in Carrollton, GA.
SCI Solutions acquires referral management vendor Clarity Health for an undisclosed sum. SCI gains 20 employees through the deal and plans to hire more staff in the coming months, according to CEO Joel French. The newly combined company will ultimately be headquartered in Seattle.
Richard Cassidy, MD (Teladoc) joins ACO Health Partners as CEO.
Peter McClennen joins Best Doctors as CEO, and joins the company’s Board of Directors.
New York University School of Medicine puts its first- and second-year students through their paces, assigning them a “healthcare by the numbers” project that aims to help train them on accessing and interpreting health data. Students are given access to a database of over 5 million anonymous patient hospital records, plus a database of over 50,000 outpatient records that goes by the name of Lacidem Care Group. (“Lacidem” is medical spelled backwards, in case you were wondering.) Students are encouraged to look at quality measures for a variety of conditions, and to drill down into individual physician and practice performance.