Amwell has filed to go public under the New York Stock Exchange symbol AMWL. Google Cloud's $100 million investment will be a concurrent private placement at the IPO price. The company didn't indicate a proposed size for the offering, nor did it give an anticipated price range, but it provided a placeholder amount of $100 million to calculate its registration fee. Morgan Stanley, Goldman Sachs & Co., LLC, Piper Sandler, UBS Investment Bank, Credit Suisse and Cowen Berenberg are listed as underwriters for the IPO.
Valera Health has officially expanded its telemental health services to members of the Capital District Physicians Health Plan (CDPHP). Members can now receive care in the comfort and safety of their own homes. First announced in 2019, CDPHP will employ Valera's digital tools and advanced data analytics to amplify the impact of clinical services and maximize patient engagement and outcomes. According to the Centers for Disease Control and Prevention (CDC), the pandemic and social isolation can increase stress and anxiety, and these feelings are also known to increase the risk of suicide. The CDC recommends focusing on emotional well-being and seeking treatment via in-person or telehealth services.
Oscar, the first direct-to-consumer health insurance company, announces today that it has closed a $225 million funding round. The round positions Oscar to continue growth off of a $2 billion revenue base and puts the company on a path to further advance its mission of making health care simple. This was a big week for Oscar. Earlier in the week, Cigna and Oscar released more details on their Cigna+Oscar partnership to provide affordable, customized health plans to small businesses.
Digital health is at the forefront of transformation in the healthcare industry. Digital disruption in healthcare has been underway for years, with healthcare organizations trying to digitize operations and processes to maximize efficiency, reduce costs, while increasing quality care. Significant digital health solutions like EHRs, digital therapeutics, telehealth, AI, wearables, and blockchain are the foundation of the industry's digital awakening. Successful implementation of digital health tools starts with a reliable roadmap that emphasizes shifting staff/patient perspectives and proactive outreach.
Over the past decade, patients have taken a more active role in educating themselves and directly managing their own health. And with more than 80 percent of consumers now researching their healthcare options, new technologies provide consumers new ways to engage in their own healthy living and in managing certain conditions. In other words, technology is empowering consumers to take control of their health. Uber Health, Lyft, Walmart Health, Amazon Care are just a few organizations entering the healthcare space.
Confidence in patient engagement technology's (PETs) potential remains high as health systems continue to invest in a more digital health care experience - focusing on connecting with, communicating with, and monitoring patients outside the walls of the health system. While it's encouraging to see health systems being proactive by embracing the growing demand by consumers for a more digital health care experience, successful patient/health system adoption is much more than investing in and implementing new technology.
Successful adopters of PET have started with buy-in at the senior leadership level, redesigning the organizational strategy to become more consumer/patient-obsessed.
Healthcare in America is on the outset of great transformation, prompted by disruptive new technologies, regulatory demand and increasingly assertive, value-sensitive consumers. | Digital Health Times