...to score $40 million in its first venture round. (Ed. note: I shop at Rite Aid–and have never seen one.)This is after the failure of HealthSpot Station, which burned through approximately $43 million through its entire short but showy life. The low-cost, largely exchange plan insurer Oscar Health raised $400 million this February ($727 million total) while UnitedHealth and others are dropping money-losing plans in most states. Over 50 percent of exchange co-ops went out of business in 2015, leaving doctors, health systems and patients holding their baggage. Again, low margins, high cost and high customer acquisition costs. We’ve previously... Continue Reading
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HealthSpot winds out to Ch. 7 liquidation, assets for sale
...for the hardware, or the intellectual property of HealthSpot, is a very open question indeed. Some digging by this Editor has revealed a possible precipitating event to the company’s shutdown, and an obvious, non-recoupable drain on the time and funds of a teetering company. A District Court order issued 4 December on the patent infringement legal action by Nevada-based Computerized Screening [TTA 8 Jan] is now available online. It appears to have been conceded by Computerized Screening as “non-infringement on the basis of the absence of the limitation of “controller”” which is technically a win for HealthSpot. But HealthSpot then... Continue Reading
HealthSpot files for Chapter 7 liquidation (updated)
The shock continues with HealthSpot. On Wednesday the company filed for Chapter 7 liquidation in US Bankruptcy Court for the Southern District of Ohio in Columbus. The laundry list: assets of $5.2 million, about $3.5 million in inventory, and $23.3 million in liabilities, including convertible notes of $10 million from cable/broadband company Cox Communications, $6 million from investor Xerox and an undisclosed amount from the Ohio Development Services Agency. HealthSpot had raised close to $44 million since 2011. Their bankruptcy attorney David Whittaker cited cash flow; with only $1.1 million in revenue over the past three years, according to the... Continue Reading
Outsourcing of retail clinics–another reason for HealthSpot’s demise? (US)
...of direction and a need for cost cutting that wasn’t there a year ago. Walgreens is finalizing its merger with Alliance Boots and is acquiring Rite Aid’s 4,600 locations (less overlap) if regulatory approval is gained. The largest contract HealthSpot had was with 25 Rite Aid locations in Ohio. If their acquirer is outsourcing in-store clinics to health systems, a commitment to kiosks–especially ones which have to be staffed–makes little sense. And will CVS be far behind in outsourcing their clinics if the numbers work? Related articles on Walgreens’ clinic move: Healthcare Dive, mHealth Intelligence Earlier on HealthSpot Station’s closing... Continue Reading
HealthSpot closes the doors, shuts kiosks in Rite Aid, Cleveland Clinic (updated)
As we reported last July, HealthSpot, the Dublin, Ohio, based telemedicine health kiosk business which was [grow_thumb image=”https://telecareaware.com/wp-content/uploads/2016/01/HealthSpot-logo-1.png” thumb_width=”150″ /]carrying out a retail trial with Rite Aid since November 2014, started commercial operations in 25 locations in three Ohio areas. In October reports emerged of a patent infringement claim that has been ongoing since April 2014 against HealthSpot by Nevada-based Computerized Screening. (More on this ongoing series of lawsuits in Ohio and Nevada is here.) According to reports in Columbus Business First, HealthSpot has now informed Rite Aid that it would cease operations as of 31 December last year and... Continue Reading
Qualcomm Life, Cox Communications buy into integration–differently (US/FR) updated
...in healthcare with last week’s acquisition of Trapollo, a program design/supply chain/logistics provider that currently works with multiple telehealth, telecare and monitoring device companies. Cox is clearly seeking another type of integration of their data carriage capabilities with systems and programs; they have also invested in HealthSpot Station’s virtual visit/telehealth kiosk and formed a strategic alliance with Cleveland Clinic. Release. Neil Versel’s columns also note IBM Watson‘s growth and development of its own Care Manager with Apple HealthKit/ResearchKit [TTA 10 Sep] and Salesforce’s entry into patient management with Health Cloud, with another big announcement rumored to be on the way.... Continue Reading
HealthSpot, Rite Aid open 25 locations in Ohio
...from Cleveland Clinic, Kettering Health Network and University Hospitals, with pediatric specialists from UH Rainbow Babies & Children’s Hospital. According to HealthSpot’s CEO Steve Cashman, a significant portion of early visitors are Medicaid recipients, who through a $60 station visit may be avoiding a far more expensive (~$600) ER visit. For the early stage HealthSpot it’s a major rollout, but for Rite Aid, which is not known for being as cutting edge in location design as CVS or Walgreens, it represents a significant move forward into onsite wellness services. Cleveland.com, Drug Store News. Rite Aid/HealthSpot demo video. Business Wire release.... Continue Reading
Do startups truly threaten the ‘healthcare establishment’?
...with a great idea’. **The new standard is ‘where does it fit’— into workflow, healthcare business model, saving money, improving measurable outcome goals, knitting together data and communications–and more–and does it solve real, measurable problems. **FDA and government involvement, security/hacking threats and that your IP really does need to be protected further favors some critical mass and caution. The smarter parts of the Healthcare Establishment are buying innovation: note the purchases and alliances recently made by Humana, Anthem, GE (Ventures-StartUp Health and Care Innovations’ certifications), Optum (Alere Health) and Medtronic (Cardiocom), Mayo Clinic backing Better, and HealthSpot/Xerox (only ‘to hand’... Continue Reading
Drawing a parallel between healthcare and … newspapers
…is the point that Dave Chase, who founded patient information/engagement portal Avado and sold it to WebMD in 2013 (and with them until last month), is making in this Forbes article. As newspapers found their readership leaving in droves for online websites that delivered ‘news they could use’ faster and more interestingly, healthcare systems are finding that their patients are finding healthcare services outside their bricks-and-mortar: Onsite workplace clinics (including telehealth/telemedicine hybrids such as HealthSpot Station–Ed. Donna) Direct primary care providers such as Iora Health, Qliance, DaVita’s Paladina Health Retail clinics: MinuteClinic, TakeCare Health Medicare Advantage-only programs such as CareMore... Continue Reading
ATA 2015: Day 1 news
[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2015/05/ATA-15-show-floor.jpg” thumb_width=”250″ /] HealthSpot/Xerox, Sentrian/Scripps, American Well, Honeywell, vitaphone, more HealthSpot unveiled the first results of its partnership with (and investment by) Xerox, leveraging their HIT cloud infrastructure and back-end for the HealthSpot Station. The telehealth/virtual consult walk-in kiosk has targeted over 30,000 retail pharmacies with a newly developed consumer retail pharmacy personal health record (PHR). Upgraded patient and portal interfaces process insurance claims through a payment data feed and integrates with EMRs. Release….The US/UK predictive data/remote patient intelligence company Sentrian, winner of this year’s ATA Innovation in Remote Care award, is a part of a year-long 1,000-patient COPD... Continue Reading
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