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Category: Jessica DaMassa

How Unhappy are Patients with Info Coming from Providers, Payers? Pega’s Survey Shows It’s Not Good

By JESSICA DaMASSA, WTF HEALTH

Is this a big surprise? Even during Covid, Pega’s annual 2,000-person Patient Engagement Survey shows that 63% of patients are unhappy with the communication they receive from their payers and providers. Which begs the question… just how bad was it before? (Answer: 86% unhappy– yikes!)

Pega’s VP of Healthcare & Life Sciences, Kelli Bravo, has run this survey three years and counting and drops in to share the highlights (if we can really call them that) of the survey results and how she thinks enterprising young health tech startups can capitalize on the opportunity to help.

For those in the business of trying to talk to patients — which is all of us — let’s look at this as a wake-up call. Let’s stop speaking “health care” and start using language everyone can understand about their care, what it will cost, and what all the options really are. Pega is attempting to do its part in that department, and we get an update on how they’re fairing at helping to make healthcare feel more like retail. The rise of the healthcare consumer is a real thing. Now, with new data to back up claims about what they’re demanding in terms of how they prefer to be talked to and communicated with.

Click to see the data and report on Pega’s site.

CareCentrix CEO on Walgreens Taking Majority Stake, How Post-Acute Care Will Fair in Retail Health

By JESSICA DaMASSA, WTF HEALTH

The same day Walgreens announced its $5.2B investment in VillageMD to snag a majority stake in the growing primary care clinic, it ALSO revealed it had made a $300M investment in CareCentrix that scored 55% of that company and another opportunity to expand its reach beyond the pharmacy – this time into the home.

CareCentrix’s CEO John Driscoll takes us behind the deal, which lands Walgreens into the world of post-acute care (home nursing, hospital discharge recovery, home infusion, palliative care, etc.) which he describes as the “long-form sexy-cool” segment of the healthcare market that’s not only worth $75B annually now, but that’s also set for massive growth over the next 20 years.

Walgreens is clearly seeing the opportunity John’s seeing, particularly when it comes to positioning its pharmacies as “local health distribution and support centers” – hubs that leverage both the trust patients have in their pharmacists and the frequency with which they visit a Walgreens store compared to a doctor’s office or hospital. In the Walgreens Health strategy, what’s the vision for how CareCentrix and VillageMD will ultimately work together to take care of these regular Walgreens customers? Will post-acute care fair as well as primary care when it comes to a retail distribution channel? And, of course, we HAVE to go behind the scenes on the deal itself and ask John what we were all wondering: Why didn’t Walgreens just acquire both VillageMD and CareCentrix outright??

Woman’s Health Startup Pollie Wins Bayer G4A’s Attention With Female-Focused Chronic Condition Play

By JESSICA DaMASSA, WTF HEALTH

Forget being pigeon-holed as a “femtech” company! VERY early-stage women’s health startup, Pollie, is taking an integrated care approach to complex chronic conditions that either just affect women, OR impact women differently or disproportionally than men. Think not only about conditions caused by hormone imbalances like PCOS (polycystic ovarian syndrome) or endometriosis, but also auto-immune disorders and digestive disorders that present differently or more frequently in women.

Co-Founder and CEO, Jane Sagui, drops by to talk us through the platform Pollie is building (and I mean, building-as-we-speak) which will ultimately teach women how to manage their chronic conditions via a highly-personalized program that includes all possible treatment management solutions, from pharmaceuticals to lifestyle-based treatments like diet and exercise. The company is currently piloting a version of their solution with a cohort of PCOS patients, but, has grand plans to expand their multi-modality pill-plus approach into other categories of women’s health that are NOT reproductive system related. Their biz has already caught the eye – and some investment dollars – from Bayer, as the company is one of four that’s been selected for this year’s Growth Track within G4A’s Digital Health Partnerships Program.

Jane gives us the details behind Pollie: their business, the pilot, the round they’re currently raising, and the types of partners they’re seeking as they evolve their offering. What’s also exciting? An early-stage bet from a big pharma co like Bayer that signals a future for women’s health care that may (finally) be about MORE than just reproductive health.

Walmart Picks Transcarent: Tullman on First ‘Everyday Low Prices’ Offer for Self-Insured Employers

By JESSICA DaMASSA, WTF HEALTH

Walmart is looking to scale its healthcare business in a brand-new way: setting its sights on self-insured employers. Today the retail giant announced a go-to-market partnership with Transcarent that will make its “everyday low price” prescription drugs and healthcare services available to self-insured employers for the very first time. Transcarent’s Executive Chairman & CEO Glen Tullman drops in to give us the inside story on the deal with Walmart, what it means for the industry, and how it could once-and-for-all ignite the ‘disruption of the payer’ that we’ve been waiting for since JP Morgan, Berkshire Hathaway, and Amazon came together to found Haven.

Transcarent and Glen are hell-bent on re-making the healthcare payment model by eliminating as many middlemen as possible, reshaping the health and care experience along the way. So, what does this partnership with Walmart mean for that mission and for Transcarent? Is this “THE Deal” we’ll look back on as the one that catapulted Transcarent into a new phase of growth? Remember when Glen’s last company, Livongo, shot into the stratosphere after its deal with CVS Health? I ask Glen if he’s running the same play in a much bigger game and finally concede: Transcarent is NOT a healthcare navigator!

#Healthin2Point00, Episode 235 | Walgreens Health + VillageMD & CareCentrix, plus more deals

Today on Health in 2 Point 00, Noom launches a mental health offering, Noom Mood, Headspace partners with Waze to offer meditation while you drive, and we have one for the Press Release Hall of Fame where Dario Health announces a major partnership with a major national health plan— but doesn’t say who it is. We have some massive deals on Episode 235: Walgreens launches Walgreens Health, acquires a controlling stake of VillageMD, AND acquires a majority stake of CareCentrix; Intelerad acquires Ambra Health for $250 million; Mindbody acquires ClassPass; and Sprinter Health gets $33 million – even though their business model makes no sense. —Matthew Holt

#Healthin2Point00, Episode 234 | An M&A and shedloads more money!

Today on Health in 2 Point 00, the word is SHEDLOAD. On Episode 235, Jess and I talk about the scoop on an M&A and shedloads more money in today’s health tech funding climate. First up, Lark gets $100 million, bringing its total to $185 million. How much more money can we throw at a chronic condition management platform? Next, Scottish remote patient monitoring company Current Health gets acquired by Best Buy. TrialSpark raises $156 million, working on developing drugs via their clinical trials software, Twin Health raises $140 million to run clinical trials in silico in “digital twins,” and virtual care GI company Oshi Health gets $23 million. —Matthew Holt

#Healthin2Point00, Episode 233 | Another $2B in deals, including Devoted’s whopping valuation

Today on Health in 2 Point 00, we’re thinking about changing our name to Health in 2 Billion 00. Devoted Health confirmed its $11 billion valuation, bumping it to $12 billion after you count the additional $1.2 billion coming in. Now onto the other 2 billion in deals, BetterUp raises $300 million in a Series C, bringing their total to $569.8 million for performance coaching and resilience training. Honor is growing fast – it raises $370 million ($300M of that is debt), bringing their total to $625M. Elemy, formerly called Sprout, raises $219 million, for children’s behavioral health. Finally, MindMaze raises $125 million, bringing their total to $235 million, working on gamifying digital neurotherapeutics. —Matthew Holt

State of Connecticut’s New ‘Episodes-of-Care Health Plan’ Could Be Key to Scaling Value-Based Care

By JESSICA DaMASSA, WTF HEALTH

Signify Health (NYSE: SGFY) has called their approach “Value-Based Care 2.0” and, today, they’ve received an important designation from CMS that could set an exciting precedent for scaling up episodes-of-care, value-based models for the under 65 commercial health insurance market. The plan to receive this important approval as an Advanced Alternative Payment Model (AAPM) is the State of Connecticut’s health plan – a massive plan that covers the State’s 220,000 employees and retirees. To talk about what this first-of-its-kind approval signals for the future of value-based payment models are the State of Connecticut’s Comptroller Kevin Lembo and Signify Health’s CEO Kyle Armbrester.

What’s so important here is the combination of episodes-of-care (which is like value-based care-lite) and the under-65 market (which is not as rich with value-based care case studies as the over-65 Medicare market). That a State government with a massive population of covered lives AND a vested interest in helping keep local hospitals and health systems vibrant economic engines in the community is leading the way on this novel payment model design is significant. And, Comptroller Lembo gives us the details about how he’s viewing it as a win-win – after quite a few battles along the way. To win in health innovation, you’ve got to follow the dollar! Tune into this chat to see where it’s headed as episodes-of-care models get a huge boost from CMS.

#Healthin2Point00, Episode 232 | Cue Health goes public + funding for Stellar, eVisit, & Neuroglee

Today on Health in 2 Point 00, Jess and I are at UCSF – we’ll be providing color commentary for the UCSF Health Awards, so tune in tonight for that. On Episode 232, Jess asks me about more deals including Stellar Health raising $60 million, Cue Health going public (and stealing the HLTH ticket), and eVisit raising $45 million for its telehealth solution. Finally, Neuroglee raises $10 million in an Alzheimer’s play. —Matthew Holt

#Healthin2Point00, Episode 231 | Pager, Ovivia, Meru Health, and NOCD

It’s Telehealth Awareness Week! Today on Health in 2 Point 00, we cover Pager raising $70 million, bringing their total to $132.6 million. German-based company Ovivia gets $80 million, bringing their total to $127 million. Meru Health raises $38 million, and NOCD raises $33 million. —Matthew Holt

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