Archives for June 2008
[Quick Take] Interview with Jeff Rencher, President of Sales & Marketing at Opticon Medical
Opticon Medical develops products for short-term urinary management and chronic urinary incontinence. The company has five FDA cleared products, including the Option-vf and Option-vm catheters highlighted in this video.
Option catheters use the body’s own bladder to store urine rather than a collection bag. When the bladder needs to be drained, the patient or caregiver activates a specially designed and patented valve that permits convenient draining in a manner very similar to normal voiding. Cumbersome external tubing and urine collection bags are not necessary with the Opticon device as compared to the Foley catheter system.
[Quick Take] Interview with Gary Levine, CFO of Bostwick Laboratories
Bostwick Laboratories is a full-service laboratory specializing in uropathology. The company’s pathologists specialize in the diagnosis, treatment and subsequent management of prostate cancer, kidney disease, cancer of the bladder and other urologic conditions.
Bostwick offer complete histologic services, including tissue processing with routine and special stains. DNA ploidy analysis is offered on prostate biopsies with cancer. Bostwick also render second opinions on challenging cases referred by physicians and patients. The company’s laboratory is actively involved in clinical and basic research.
Set of Privacy Standards Adopted by Providers of Personal Health Records
Given the fragmentation of many health services in the U.S., creating a shared set of privacy standards is an important step in furthering the adoption of personal health records (PHRs) .
PHRs include a variety of electronic data designed to help consumers better manage their health-related information, including prescription data and diagnostics.
While the new standards haven’t readily altered the way most providers operate (many indicated they had been following the practices since inception), the agreement may alleviate privacy concerns among consumers.
The goal is to let individuals compile and share copies of their personal health information electronically, using a set of standardized practices that allow the patient to control how information is collected and shared. One might liken this to adopting English as the standard language of international travel, as well as a standardized set of laws by which to abide. To summarize:
- Consumers
[Quick Take] Interview with Larry Drappi, VP Sales & Marketing at MeridianEMR
meridianEMR offers a “blended model” EMR system designed for creating and storing patient medical records in an office and online simultaneously. Designed by a team of physicians and software engineers, meridianEMR uses Java and XML to create a highly modular medical EMR that provides:
- Remote access to patient charts
- Complete workflow management
- Full HIPAA compliance
- Prescription/medication integration
- Lab information
- Suggested CPT coding based on medical decision making logic
- Automated software updates
The meridianEMR unifies all patient information into a convenient secure patient chart while ensuring security of patient information with electronic encryption, permissions and monitored access.
All encounters are saved as medical records on both local and remote servers. The template driven system simplifies the charting process so that encounters are recorded quickly, accurately and easily. Billing is capture at the point of care.
[Quick Take] Interview with Phillip Goetz, President of Medical Digital Developers
Medical Digital Developers (MD Dev) offers the D-Scope System, a voice-activated, hands-free digital media management system that captures digital audio and video (including still images) during an endoscopic exam.
D-Scope prides itself on ease of use in clinical environs, due to its voice recognition technology. The video capture and instant replay allows doctors to perform examination quickly and review the video with the patient.
With the company’s Advanced system, media can also be shared between multiple D-Scope workstations over a computer network. The Advanced system allows D-Scope to interface with electronic medical records, offering an affordable way to satisfy insurance documentation requirements.
24 Million Americans Living with Diabetes
24 million Americans have diabetes, an increase of 3 million people in just two years, says the CDC – that’s 8 percent of the U.S. population. 25 percent of Americans 60 and up live with the condition and 57 million people are thought to have pre-diabetes.
Some dramatic racial disparities exist as well:
- Native Americans with diabetes: 16.5%
- Blacks: 11.8%
- Hispanics: 10.4%
- Mexican Americans: 11.9%
- Asian Americans: 7.5%
- Whites: 6.6%
SAES Acquires Memry Corporation
Milan, Italy-based SAES has acquired Memry Corp. for $77.7 million or $2.51 per share. The price represents a premium of +/- 73% based on Memry’s closing price on June 23, 2008.
Memry develops nitinol-based and polymer-based medical device products, including its proprietary shape memory alloys. Medical device products include stent components, catheter components, guidewires, laparoscopic surgical sub-assemblies and orthopedic instruments as well as complex, multi-layer polymer extrusions used for guidewires, catheters, delivery systems and other interventional medical devices.
The predominant material utilized by the company is a nickel-titanium alloy commonly referred to as nitinol. Nitinol is capable of changing shape in response to thermal and mechanical changes (watch the video). The company added polymer-extrusion and polymer-based components to its product mix with the acquisition of Putnam Plastics in 2004.
In 2007, Memry reported revenues of $51.7 million, a gross margin of $16.6 million, an operating
ATS AP360 Wins Canadian Regulatory Approval
ATS Medical has been making a good run of it of late. The company has demonstrated its ability to execute corporate strategy and increase shareholder value. In May, ATS revised fiscal 2008 revenue guidance to $62-$66 million from $60-$64 million.
Yesterday, ATS announced Canadian approval of its Open Pivot AP360 Mechanical Heart Valve (MHV). The AP360 combines the proven performance of its original Open Pivot Heart Valve with a cuff design that extends its appeal to a broader spectrum of surgeons.
According to Michael Dale, President and CEO of ATS, “Heart valve sewing cuff material and design contribute to the ease with which suturing needles pass through the cuff and an uncomplicated positioning of the valve at the implant site. Surgeons develop a feel for, and gain confidence and comfort in a cuff that is well suited to their individual surgical techniques. When
American Well Gets it Together
House calls might be on the rise again, but not in the form your grandparents remember. American Well, through webcams and telephony, allows physicians to connect with patients online.
Physicians make themselves available whenever they have time, with no prior notice. A doctor’s time is billed at $40 per 10 minute consult (though rates vary, especially for specialists). Physicians are protected from credit risk; per-consultation malpractice insurance is included.
Consumers can select a doctor based on language, gender or a slew of other qualifications. The system offers immediate and secure access in real time. To ensure continuity of care, American Well will forward a summary of the conversation to a patient’s primary care physician.
Like any device company, the key to American’s success is reimbursement. So far, Hawaii Blue Cross Blue Shield and its million-or-so members are on board.
E-visits are reimbursed through new
Clinical Study Brings iCAD’s Colon CAD Closer to Market
Colon cancer is among the most preventable cancers when caught early. More than 82 million Americans are eligible for colorectal cancer screening. Currently, diagnostics are underutilized due in part to the invasive nature of screening procedures.
The most common diagnostic procedures is the oft-dreaded colonoscopy. It’s recommended that individuals 50 and up get one – some 90% of colon cancers occur in this age group. During the exam, a colonoscope, a long, slender, flexible tube attached to a video camera is used to view the colon and rectum. Polyps found during the procedure are typically biospied and analyzed.
A less-invasive screening method is virtual colonoscopy (VC). VC uses computed tomography (CT) imaging and software to assemble two and three-dimensional images of the colon. Nashua, NH-based iCAD offers Colon CAD, virtual colonoscopy software.
iCAD recently initiated a clinical study for Colon CAD in partnership with
