Allied Market Research reports that the global healthcare information technology (IT) market size was valued at $250,577.15 million in 2020, and is projected to reach $880,688.75 million by 2030, registering a CAGR of 13.3% from 2021 to 2030.
Data Bridge Market Research reports the market drivers and growth can be attributed to the increase in technological know-how, growing volume of patient data, and demand for quick and efficient healthcare processes and systems will help in driving the growth of the healthcare IT market. Increasing digitization in the healthcare industry and demand for value based care and rising cost of provision of healthcare services coupled with the increasing number of healthcare facilities will likely accelerate the growth of the healthcare IT market in the forecast period of 2020-2027.
Health IT Product News
Weave Expands Payment Product Suite with Mobile Tap to Pay
Weave (@getweave), a all-in-onne customer experience platform for small and medium-sized businesses, announced an expansion of their payments platform with the addition of Mobile Tap to Pay. This new feature allows patients and clients to make contactless payments by simply tapping their credit or debit card on the provider’s mobile device.
Meet cari™: the Generative AI Solution from the Leader in Autism and IDD Care Software
CentralReach (@centralreach), the provider of autism and IDD care software, announced the generative AI solution designed for autism and IDD care: cariTM.
Trilliant Health Launches New Premium Research Subscriptions
Trilliant Health (@TrilliantHealth), a healthcare analytics and market research firm, announced the public launch of premium research subscriptions with exclusive research, educational materials and strategic planning resources.
Healthcasts Introduces ConsensusAI, the First AI-Powered, Real-Time Patient Consultation Tool for Healthcare Professionals
HCTG (@HealthcastsMDIA), a healthcare communications-technology company, announced that it has launched ConsensusAI, which helps clinicians expedite medical delivery-of-care decisions when leveraging the Healthcasts platform.
New IMO products standardize free text, manage value sets, and deliver problem list insights
IMO (@IMOsolutions) is excited to announce the launch of three new products: IMO Precision Normalize with NLP, IMO Precision Sets, and IMO Discovery for Problems.
Reveleer Launches Retrospective Revenue Reconciliation as Part of Integrated Member Management Suite
Reveleer (@reveleer), a healthcare technology workflow, data, and analytics company committed to driving sustainable value-based care for health plans and risk-bearing providers, announced enhancements to its Member Management suite allowing health plans to reconcile retrospective adjustments to CMS payments for member care.
Qualtrics Launches XM/os2: The Next Generation of The Qualtrics Platform Fully Enabled With AI
Qualtrics (@Qualtrics), the leader and creator of the experience management (XM) category, announced XM/os2, the next generation of the Qualtrics platform, fully enabled with artificial intelligence (AI) to help organizations act with empathy and create more relevant and meaningful experiences.
MDaudit Enhances Industry Leading Billing Compliance and Revenue Integrity Platform with Groundbreaking AI Capabilities
MDaudit (@MDaudit), a provider of technologies and analytics tools that enable premier healthcare organizations to minimize billing risk and maximize revenues, announced it has elevated the artificial intelligence (AI) and automation capabilities of its industry leading billing compliance and revenue integrity platform with the addition of Insights.ai and SmartScan.ai.
nirvanaHealth’s Payer & PBM business suite, Aria will go live during open enrollment this year and launch on Microsoft Azure Marketplace
nirvanaHealth announces that Aria, the Payer & PBM business suite that will empower Payers & PBMs to design their own business solutions, will be available on Microsoft Azure and in the Azure Marketplace with a “try and buy” mode.
Telehealth Product News
Amazon adds video telemedicine visits nationwide to its virtual clinic
Amazon is adding video telemedicine visits in all 50 states to a virtual clinic it launched last fall, as the e-commerce giant pushes deeper into care delivery. Amazon said Tuesday that customers can visit its virtual clinic around the clock through Amazon’s website or app. There, they can compare prices and response times before picking a telemedicine provider from several options.
TytoCare’s Home Smart Clinic improves patient outcomes
Virtual healthcare company TytoCare (@TytoCare) is able to reduce the total cost of care for adults by 9% and for all ages by 7% in a large commercial health plan population through the use of its Home Smart Clinic, according to a peer-reviewed study in the Journal of Health Economics.
AI Product News
Vital Releases Doctor-to-Patient Translator That Uses AI and LLMs to Transform Medical Jargon Into Simple, Accurate Content for Patients
Vital, an artificial intelligence (AI)-driven digital health company, announced the launch of its AI-powered Doctor-to-Patient Translator, designed to transform highly technical medical terminology into plain language that any patient can understand. Using the latest Large Language Models (LLMs) and Natural Language Processing (NLP), Vital’s HIPAA-compliant Doctor-to-Patient Translator creates 5th-grade reading-level explanations of lab and imaging results, doctor notes, discharge summaries and patient instructions, and other important medical information.
AssureCare Unveils Physician Decision Support Tool to Boost Efficiency in Population Health Management
AssureCare (@AssureCareLLC), the innovative population health management company, introduces OptimAIzer, its new physician decision support tool driven by artificial intelligence (AI). OptimAIzer is designed to enhance operational efficiencies in population health management services by 60%, streamlining operations and expediting critical medical reviews.
United We Care Announces the Launch of its Behavioral Health and Wellness Coaching Program in the United States
United We Care (@unitedwecare_in), a global leader in scientifically validated behavioral health programs, courses, and self-help content, announced the launch of its mental health and wellness coaching program in the United States. The online and app-based coaching program is available to health systems seeking to enhance their behavioral health and wellness offerings as well as corporate employee assistance programs (EAPs). United We Care’s wellness coaching includes unlimited access to Stella, the world’s most advanced, customizable, cognitive AI driven online support solution.
FDA Medical Devices
Approved in July 2023
The FDA regulates medical devices sold in the United States to assure their safety and effectiveness. Medical devices range from simple tongue depressors and hospital gowns to complex programmable pacemakers and robotic surgical systems. Their Medical Device Product Classification database lists over 6,000 types of medical devices regulated by FDA’s Center for Medical Devices and Radiological Health (CDRH) and the classification assigned to each type. Depending on the device classification, along with other factors, federal regulations (such as the Code of Federal Regulations, Title 21) define requirements that must be fulfilled for CDRH to approve or clear devices sold in the United States.
Here are the recently approved devices for the month of July.
