Healthcare IT News - October 2007 - (Page 52)

52 Healthcare IT News ■ October 2007 solve problems,” Brailer said, “companies that offer a combination of information services – and something else. It’s the synergy of the two.” “We see enormous potential for healthcare services, technology and information companies in coming years,” Brailer said. “Our strategy is simple – companies that add real value to healthcare’s end users will become market-leading companies and valuable investments to us.” Health Evolution Partners will also invest about $200 million in early stage companies, but not VENdoRS directly. The equity firm will team up with four to six existing venture capitalists funds. To form his San Francisco-based investment firm, Brailer teamed up with CalPERS, the California Public Employees Retirement System, which put up $700 million in investment money. CalPERS, the nation’s largest pension fund, reports assets of more than $245 billion. It is the nation’s third largest purchaser of health benefits. “There are significant investment opportunities in the development of better technology and services in health benefits, which is the fastest-growing industry in the world’s largest economy,” CalPERS CEO Fred Buenrostro said at the launch of Health Evolution Partners last June. Healthcare Evolution Partners will focus on investing the money at hand before adding other partners and more investment money to the mix, Brailer said at the Bear Stearns conference last month. “Health Evolution Partners’ insights into purchaser needs, cou- www.HealthcareITNews.com pled with their public policy and regulatory understanding, gives them a unique capacity to select and guide companies that can change healthcare,” said Peter Lee, president of the Pacific Business Group on Health, a San Francisco-based employer coalition. “They have the relationships needed to not only accelerate adoption of their portfolio companies’ products but to foster healthcare transformation by being purchaser driven.” ■ More at HealthcareITNews.com e Connect: Brailer 1007 BraIlEr Continued from page 49 for monitoring patients at home, an organization that provides a marketplace for radiologists online and others that provide case management services. Brailer, President Bush’s former healthcare information technology czar, has not dropped IT, but Health Evolution Partners is likely to invest in technology companies that provide more than software. “We’re looking at companies that ● MaNagEr Continued from page 49 Taking care of the little things makes all the difference. We connect more providers to more payers than anyone else. But what really sets us apart is all the little things we do for both that make the business of claims and payments so much more efficient. Discover how Emdeon is changing the business of healthcare. Visit www.emdeon.com today. Simplifying the Business of Healthcare business, there’s a bottleneck (in access management). We want to make that process easier.” Through its Trusted Identity Broker service, Covisint becomes an independent broker, controlling access and the flow of data to and from the institution and outlying clinics or physicians’ offices – what Furst calls the healthcare ecosystem. Hospitals and other healthcare providers can share internal and/or third-party applications and information inside and outside the facility, while Covisint can control information shared between competing interests – such as vendors – when they’re working on a joint project. “Business success means securely collaborating with business partners globally 24 hours a day,” said David Miller, Compuware Covisint’s chief security officer. “Trusted Authroization Manager is part of Compuware Covisint’s overall strategy to provide security and access management solutions for entire communities of stakeholders – such as partners, suppliers, vendors or contractors.” Compuware Covisint currently does business with more than 1,400 customers in the healthcare field, Furst says, including about 400 systems and IDNs, nine Medicaid plans, 12 payers and a number of smaller institutions and IPAs. Mike Neuenschwander, vice president and research director for the Burton Group, said the identity management market “continues to enjoy phenomenal growth.” Services like Covisint’s Trusted Authorization Manager, he said, “(offer) enterprise customers an important architectural option for outsourcing account management for external users.” By acting as an authorization manager, Furst says Covisint can manage vendor contracts for healthcare providers, vetting credentials, facilitating subscriptions and offering a range of preferred vendors or services. Or Covisint could establish links with a vendor or product of the provider’s choosing. “We’re not making decisions on behalf of our ecosystem,” he said. “We’re providing the tools … so they can make the decisions.” ■ More at HealthcareITNews.com e Connect: MaNaGer 1007 Patient Access Management • Claim Management • Remittance & Payment Distribution • Patient Billing & Payment e ● Connect: eMDeoN 1007 ● http://www.HealthcareITNews.com http://www.HealthcareITNews.com http://www.healthcareitnews.com/story.cms?id=7861 http://www.emdeon.com http://www.emdeon.com http://www.HealthcareITNews.com http://www.healthcareitnews.com/story.cms?id=7863 http://www.healthcareitnews.com/eConnect.cms?id=7921

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Healthcare IT News - October 2007 Contents Global Harmony Telegrowth New Rules Keeping Tabs What's Free? PHR of Its Own Intelligent Closing Practice Management Paper Tiger

Healthcare IT News - October 2007

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