Maria Perez
Maria is an experienced writer, providing content for Healthcare Industry News since 2021. Working as a senior writer, Maria focuses on news reporting, making the complex healthcare topic comprehensible for readers. Maria’s expertise and dedication to delivering accurate stories make him a trusted source on our site.
by Maria Perez | Apr 8, 2024 | Digital Health
Synchron is making progress with the launch of a patient registry aimed at paving the way for a groundbreaking brain implant trial. With its headquarters in New York City, Synchron has been developing innovative technology to compete with Elon Musk’s Neuralink, gaining support from prominent figures like Bill Gates and Jeff Bezos. Their latest achievement involves the deployment of a patient registry to facilitate the preparation for a large-scale clinical trial necessary for seeking regulatory approval from the Food and Drug Administration (FDA).
Synchron’s journey into the BCI industry has been marked by its development of the Stentrode device, a groundbreaking innovation intended to allow individuals with limited mobility to operate digital devices through neural signals. The attention the technology has gained from investors such as Bill Gates’ and Jeff Bezos’ investment firms, indicates recognition of its potential impact. Synchron’s decision to establish a patient registry shows its commitment to collaboration and transparency within the healthcare community as it progresses towards regulatory approval.
Synchron’s innovation is shown through its Stentrode device, designed to enable individuals with limited mobility to operate digital devices using their thoughts. What sets the Stentrode apart from its competitors is its minimally invasive implantation procedure, eliminating the need for open brain surgery. Through an endovascular technique, the device is implanted via the jugular vein and positioned atop the motor cortex, the brain region responsible for movement. Once in place, the Stentrode expands to press electrodes against the vessel wall, allowing it to record neural information and deliver currents to targeted areas. The signals captured by the Stentrode are then transmitted wirelessly to an external receiver, forming a seamless interface between the brain and external devices. The efficacy and safety of such technology necessitate clinical trials, prompting Synchron to begin recruiting participants for an in-depth study. CEO Thomas Oxley revealed plans to include “dozens of participants” in the trial, with interest already expressed from numerous clinical trial centers.
Synchron’s initiative aligns with the broader landscape of BCI technologies, where companies like Neuralink and Blackrock Neurotech are also making strides in similar domains. Despite the promising potential of BCI, challenges persist, as highlighted by a 2022 report from the U.S. Government Accountability Office citing the complexity of individualized brain signals. Despite this, the prospect of restoring functionality to individuals with severe paralysis through BCI remains an exciting area in medical innovation.
Synchron’s commitment to community engagement is evident through the establishment of a community-centered BCI registry, allowing collaboration among patients, caregivers, and clinicians. This initiative serves as a platform for knowledge sharing and shows the grassroots movement surrounding BCI technology. As the company prepares for the next phase of clinical trials, the registry will play an important role in maintaining connectivity and facilitating informed decision-making among stakeholders. Synchron’s operations show a shift in healthcare, where neurotechnology holds the promise of transforming the lives of individuals with motor impairments. Through their innovative approach and commitment to advancing BCI technology, Synchron is poised to make contributions to the field, offering hope and autonomy to those in need.
by Maria Perez | Apr 8, 2024 | Artificial Intelligence, Digital Health
The first quarter of 2024 marked a shift in digital health funding characterized by higher deal volumes paired with lower check sizes, indicating a recalibration in the financial dynamics of the industry. While the total funding dipped compared to the previous year, U.S. digital health startups demonstrated resilience by raising $2.7 billion across 133 deals, with an average deal size of $20.6 million, as reported by Rock Health, a leading venture fund dedicated to digital health. This trend reflects an industry that is adapting to new financing challenges while maintaining a strong pace of deal-making. The decline in total funding from $3.6 billion in the first quarter of 2023, suggests a more cautious investment climate. The growth in deal volume, surpassing the numbers of the past six quarters, highlights the industry’s ability to navigate a tighter funding market. The prevalence of creative financing measures, with nearly half of the fundraising deals being unlabeled rounds, outlines the agility and adaptability of digital health startups in securing necessary capital.
AI-driven investment emerged as a dominant trend in the first quarter of 2024, with AI-enabled digital health startups securing a large portion of funding. AI-based companies accounted for 40% of Q1’s total funding, amounting to $1.1 billion across 45 deals, according to Rock Health’s report. This indicates a growing investor interest in leveraging artificial intelligence to enhance healthcare solutions. The success of AI-focused startups such as Abridge and Zephyr AI, which secured large amounts of Series C and Series A funding respectively, shows the importance of AI in driving innovation within the sector. The adoption of AI technologies in healthcare has the potential to revolutionize patient care, diagnosis, and treatment, making it a focal point for investors seeking disruptive opportunities in the digital health space.
There is a notable emphasis on scrutinizing clinical outcomes and value-for-investment in digital health solutions. With no industry-wide standard for evaluating efficacy, investors, employers, and health plans are increasingly focusing on strong outcomes data as a differentiator in a crowded market. The analysis from the Peterson Health Technology Institute highlights the growing importance of evidence-based outcomes research in understanding the value proposition of digital health solutions. As crowded digital solution spaces push enterprise buyers to seek out outcomes data, investors are prioritizing companies that can demonstrate efficacy early in their development. This trend has made outcomes data more central to fundraising conversations, prompting startups to invest in outcome measurement and reporting mechanisms to differentiate themselves in the market.
The public markets are witnessing a parallel reset, with several digital health companies opting to delist from major exchanges. Notable examples include Science 37, Better Therapeutics, and Veradigm. Delistings recalibrate expectations for startups eyeing public exits and offer an opportunity for companies to reassess their strategies and operations, potentially leading to long-term stability and growth. While some companies may choose to go private to alleviate the pressure of quarterly reporting and market scrutiny, others may see delisting as an opportunity to restructure and focus on long-term value creation. The dynamic nature of the public markets outlines the importance of adaptability and planning for digital health companies seeking to manage the complexities of the financial landscape.
As the digital health sector matures, companies are shifting towards more conservative forecasting and deal structuring, aligning with the industry’s evolving metrics of success. This transition from growth-oriented mindsets to a focus on strong outcomes and healthy margins reflects a maturation process necessary for the long-term sustainability of the industry. Despite the challenges posed by a tougher funding climate, the sector remains resilient, with the pressure to deliver driving innovation and pushing companies to demonstrate their value proposition. The first quarter of 2024 marks an important moment in the evolution of digital health funding, characterized by adaptation, innovation, and a renewed focus on delivering meaningful outcomes for patients and stakeholders.
by Maria Perez | Apr 5, 2024 | Digital Health, Telehealth News
Jason Gorevic has announced his departure as CEO of Teladoc, marking the end of his 15-year tenure at the helm of the company. Gorevic’s departure comes at an important time for Teladoc, which has been a frontrunner in virtual healthcare for over two decades. Under his leadership, Teladoc has played a transformative role in shaping the healthcare industry’s approach to telemedicine. From its initial public offering in 2015, which saw the company report $77 million in revenue, to its current status as a global leader with 90 million users, Gorevic has been instrumental in driving Teladoc’s growth and innovation. As the virtual care market becomes increasingly competitive, with numerous digital health players entering the fold, Teladoc faces the challenge of maintaining its position as an industry leader.
Taking over in the interim is Mala Murthy, Teladoc’s current chief financial officer, who steps into the role of acting CEO while the board of directors begin the search for Gorevic’s permanent successor. Murthy brings a wealth of experience to her new role, having served as CFO since 2019. With a background in financial management and decision-making, Murthy is well-equipped to navigate Teladoc through this period of transition. In a letter to employees, she expressed gratitude for the opportunity to lead Teladoc and acknowledged Gorevic’s contributions in shaping the company’s legacy. Murthy’s appointment outlines Teladoc’s commitment to continuity and stability as it seeks to chart a course for future growth and innovation.
Teladoc’s leadership shakeup occurs after challenges in the stock market and intensifying competition in the virtual care sector. Despite having 90 million users and a two-decade legacy, Teladoc faced a 22% drop in its stock value in February, following a fourth-quarter revenue miss and a cautious outlook for the future. The company’s struggles highlight the difficulties of operating in a crowded market where digital health players fight for market share and investor confidence. Teladoc’s acquisition of Livongo in 2020, for a record $18.5 billion, has also brought integration challenges and contributed to financial losses, further outlining the need for realignment under new leadership.
With a focus on financial sustainability, Teladoc has been working towards boosting its bottom line. While reporting a net loss of $220 million for the year 2023, the company saw a notable increase in adjusted EBITDA, signaling efforts to streamline operations and enhance profitability. Challenges still remain, particularly after the historic loss incurred in 2022, largely stemming from the write-off related to its acquisition of Livongo. Teladoc’s recent initiatives, including an in-depth operational review aimed at optimizing its portfolio of products and services, reflect its commitment to addressing these challenges and positioning the company for long-term success.
The company’s reaffirmation of guidance for the first quarter and full year of 2024 shows its confidence in its ability to weather the ongoing transition in leadership and strive towards sustainable growth. As Teladoc begins the search for its next CEO, the focus will be on finding a leader capable of steering the company through a rapidly evolving industry while leveraging its strengths in core telemedicine and direct-to-consumer behavioral health. Teladoc’s leadership shakeup marks an important moment in the company’s journey as it seeks to redefine its direction and manage the complexities of the virtual care market. With Murthy assuming the role of acting CEO and the board’s commitment to finding a permanent successor, Teladoc remains poised to capitalize on its strengths and drive long-term value creation.
by Maria Perez | Apr 3, 2024 | Artificial Intelligence
Sepsis remains a challenge in healthcare, responsible for nearly 270,000 deaths annually in the United States alone. Its unpredictable nature makes early detection necessary, yet symptoms can vary widely among individuals. To address this pressing issue, the FDA recently granted de novo clearance to Prenosis, a Chicago-based company, for their AI tool, the Sepsis Immunoscore. This milestone marks the first FDA-authorized AI diagnostic for sepsis, providing clinicians with a valuable resource in predicting and diagnosing sepsis within a 24-hour window.
The Sepsis Immunoscore software, developed by Prenosis, boasts an impressive algorithm that assesses an array of 22 parameters, including respiratory rate, blood pressure, and white blood cell count. This approach enhances the accuracy of risk assessment, enabling clinicians to make informed decisions promptly. Unlike previous tools, the Sepsis Immunoscore has undergone rigorous evaluation, with a 750-person study conducted across three sites. This extensive testing ensures the tool’s reliability across diverse patient demographics and health conditions, instilling confidence in its effectiveness.
Prenosis CEO Bobby Reddy Jr. emphasizes the company’s commitment to regulatory compliance and patient safety, prioritizing FDA clearance before marketing its AI product. Reddy’s approach reflects a dedication to transparency and integrity, aiming to build trust within the healthcare community. In an interview, Reddy highlighted the importance of addressing clinicians’ skepticism towards AI tools, positioning the Sepsis Immunoscore as a reliable aid rather than a replacement for clinical judgment. By adhering to FDA regulations and obtaining third-party validation, Prenosis sets a precedent for responsible AI implementation in healthcare.
The integration of the Sepsis Immunoscore into electronic health records streamlines its accessibility for clinicians, facilitating seamless incorporation into existing workflows. The software’s intuitive display presents the risk score and explains the contribution of each parameter, building transparency and enhancing clinician understanding. This user-friendly interface enhances the tool’s usability and acceptance among healthcare professionals, creating a path for widespread adoption in clinical practice. By providing actionable insights, the Sepsis Immunoscore enables faster treatment decisions, potentially reducing hospital length of stay and improving patient outcomes.
Prenosis’ innovative approach extends past sepsis diagnosis, laying the groundwork for a broader revolution in acute care. Leveraging their Immunix precision medicine platform, which combines biomarker data with clinical insights, Prenosis aims to personalize therapy and enhance patient care across various acute conditions. This strategy reflects a shift towards individualized medicine, wherein AI diagnostics complement clinical expertise, allowing clinicians to deliver tailored treatments based on patients’ unique biological profiles. As healthcare organizations embrace technological advancements, Prenosis sets a precedent for responsible AI integration, prioritizing patient well-being and clinical collaboration.
The FDA’s authorization of the Sepsis Immunoscore outlines the important role of AI in improving patient care and addressing complex healthcare challenges. With its in-depth algorithm, rigorous testing, and user-friendly interface, the Sepsis Immunoscore represents an advancement in sepsis management. By adhering to regulatory standards and prioritizing transparency, Prenosis exemplifies a responsible approach to AI implementation, ensuring trust and collaboration within the healthcare community. As AI continues to reshape healthcare delivery, innovative tools like the Sepsis Immunoscore hold immense potential to enhance patient outcomes and revolutionize acute care practices.
by Maria Perez | Apr 2, 2024 | Artificial Intelligence
Eko Health has made progress in the area of cardiovascular health with its latest FDA clearance for an artificial intelligence-powered feature integrated into its stethoscope. This groundbreaking advancement enables the detection of an indicator of heart failure, known as low ejection fraction (EF), during routine physical examinations, potentially reshaping early diagnosis and intervention strategies. Traditionally, identifying heart failure, particularly low EF, has posed challenges in primary care settings due to limited access to specialized equipment like echocardiography, along with associated costs and time constraints. With the FDA clearance covering artificial intelligence capabilities that expand the functionality of Eko’s Sensora Cardiac Early Detection Platform, healthcare professionals now have a powerful tool at their disposal to detect low EF within 15 seconds during routine stethoscope exams. This innovative approach streamlines the diagnostic process and addresses longstanding barriers to early detection, thereby improving patient outcomes and reducing healthcare costs associated with advanced heart failure.
The newly cleared AI feature is a step forward for cardiac care, expanding the capabilities of Eko’s Sensora Cardiac Early Detection Platform. Developed in collaboration with Mayo Clinic, the AI utilizes machine learning algorithms trained on a proprietary dataset of over 100,000 ECGs and echocardiogram pairs from unique patients, ensuring performance across diverse patient populations. The FDA clearance follows rigorous testing, demonstrating the AI’s remarkable sensitivity, specificity, and accuracy in detecting low EF, with an area under the receiver operating characteristic (AUROC) of 0.835 for left ventricular ejection fraction (LVEF) below 40%. Independent validation studies conducted by Imperial College London further outline the effectiveness of this AI-powered solution, validating its performance and reliability in real-world clinical settings.
The importance of this innovation extends beyond early detection, aligning with Eko’s mission to revolutionize healthcare delivery through digital health solutions. By seamlessly integrating AI-powered analysis into stethoscope technology, Eko allows healthcare professionals to make informed clinical decisions swiftly and accurately, optimizing patient care and outcomes. The addition of the low EF detection AI to Eko’s Sensora platform complements existing features for identifying atrial fibrillation and structural heart murmurs, offering an in-depth cardiac early detection tool that enhances diagnostic capabilities and improves patient management strategies. The AI’s incorporation into a familiar tool like the stethoscope enhances accessibility and usability, particularly in resource-limited settings and underserved communities, ensuring equitable access to advanced cardiac care.
Eko plans a deliberate and strategic rollout of the low EF detection AI, prioritizing collaboration with select health systems to conduct early pilots and commercial studies before broader implementation. This approach shows Eko’s commitment to ensuring seamless integration and maximizing the impact of its AI solutions in real-world healthcare settings. By partnering with leading healthcare institutions and leveraging extensive clinical data, Eko aims to give all patients access to advanced cardiac diagnostics and improve healthcare results on a global scale. As the company continues to innovate and expand its AI capabilities, the future holds promising prospects for advancing early detection and management of cardiovascular diseases, ultimately enhancing patient outcomes and advancing healthcare delivery worldwide.
