December 22, 2024

Clickstream – Rich TV

Frank Magliochetti ClickStream CEO on today!

Frank Magliochetti, ClickStream CEO will appear on Rich TV Live, a financial focused digital network that has over 80,000 members and on all the popular social media and video sharing channels. The interview will air on Wednesday July 22nd at 9:30 AM ET on https://www.youtube.com/c/RICHTVLIVE and will be available on Clickstream’s social media platforms shortly thereafter.

Frank Magliochetti will provide Rich TV Live’s audience and others with an overview of the upcoming launch of Clickstream’s multi-platform trivia gaming network called WinQuik™, as well as discussing how the in development technology has attracted the likes of Amber Theoharis, Brian Baldinger, Howie Schwab, Mykel Hawke, Joshua Dobbs and Jordan Andino as program hosts.

Clickstream is actively identifying TV and entertainment personalities for programs as the company scales to deliver programming for the world’s first synchronized mobile and digital network. The platform will feature gaming shows and content designed for users seeking the thrill of live competition in order to win real money and prizes.

ABOUT RICH TV LIVE

Rich TV Live has been sharing company news and updates on YouTube, Facebook, LinkedIn, Twitter, Instagram, Blogger and many other social media sites since 2017 with a community of 80,000 members and growing everyday. We have a daily show on YouTube that helps investors get access to in depth information about companies by getting access to CEO interviews, company overviews and Video press releases. Our videos are shared on 8 different social media platforms to help bring more visibility to companies that are under exposed. We take pride in bringing the best trading information and ideas through our trading academy. All the information on RICH TV LIVE is for educational and entertainment purposes. We are not licensed advisors, so all ways do your own due-diligence before investing in anything we talk about. For more information, please visit https://richtvlive.com/.

ABOUT CLICKSTREAM CORPORATION

ClickStream’s business operations are focused on the development and implementation of WinQuik™, a free to play synchronized mobile app and digital gaming platform. The platform is designed to enable WinQuik™ users to have fun, interact and compete against each other in order to win real money and prizes. WinQuik™ is currently in production with shows featuring celebrity hosts Joshua Dobbs, Brian Baldinger, Howie Schwab, Amber Theoharis, Mykel Hawke and Jordan Andino on subject matter ranging from sports trivia, survival, entertainment, the Bible, space and culinary. Game types are set up dynamically with non-live game shows daily and weekly live game shows. As a free-mium platform, ClickStream intends to monetize the platform with corporate sponsors and advertisers. For more information please visit Clickstream’s websites at www.clickstream.technology or www.WinQuik.com as well as on Twitter at @ClickstreamC and @WinQuikApp.

FRANK MAGLIOCHETTI

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Last year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment. Most recently; Frank was appointed Chairman and Chief Executive Officer at Designer Genomics International, Inc. The Company has accumulated a growing body of evidence that highlights a link between alterations in the immune and inflammatory systems and the development of chronic human disease. The Company is visionary and has established itself as a leader in the field of inflammatory and immune genetic DNA and RNA biomarkers that play a causative role in debilitating conditions, such as atherosclerosis/heart disease, diabetes, arthritis, inflammatory bowel disease, post-traumatic stress disorders (PTSD) and cancer.
A proprietary state-of-the art data mining bioinformatics program, called ‘cluster analysis’ will be used to measure disease development susceptibility with potential for earlier diagnosis and intervention. The company is developing a healthcare program based on its proprietary genetic panels that will allow people to be their own healthcare advocate and take an active role in their health status as well as longevity.

Mr. Frank Magliochetti MBA
Managing Partner
Parcae Capital

www.parcaecapitalcorp.com
www.frankmagliochetti.com

Hereditary Cancer Testing: Prostate Cancer

Prostate cancer is the second leading cause of cancer death in men in the United States, behind only lung cancer, according to the American Cancer Society. Cancer of the prostate is a serious disease, but most men diagnosed with prostate cancer do not die from it – early detection and personalized treatment saves lives. Doctors currently use tests, such as prostate-specific antigen (PSA), to detect and diagnose prostate cancer, but hereditary cancer screening may hold the key to earlier diagnosis and more effective treatment.

Hereditary Cancer Testing

Some people inherit a genetic mutation from their mother or father. This damaged gene puts them at greater risk for developing certain forms of cancer, including prostate cancer. In fact, hereditary prostate cancer accounts for 5 to 10 percent of all prostate cancer. Having a brother or father with prostate cancer more than doubles a man’s risk for having the disease. Hereditary cancer testing helps men understand their inherited risk of developing cancer within their lifetime. This type of testing can also help reduce or eliminate unnecessary prostate biopsies completely in men suspected of having prostate cancer.

Hereditary cancer testing works by looking for specific changes, or mutations, in specific genes, chromosomes, and proteins. These mutations can change the way the gene works; in some cases, gene mutations can cause the uncontrolled growth of abnormal cells that characterize cancer.

Most commonly, hereditary cancer testing for prostate cancer looks for mutations in BRCA2 and BRCA1 genes, and in other genes associated with prostate cancer.

Hereditary Cancer Testing is Gaining Traction as a Way to Provide Earlier Diagnosis and More Effective Treatment for Prostate Cancer

While hereditary cancer testing can help inform treatment and management approaches to prostate cancer, genetic testing of men for prostate cancer is relatively uncommon, largely because of inconsistent guidelines covering the testing and challenges in implementing genetic counseling services. There is a lot of confusion regarding when men should undergo hereditary testing for prostate cancer, the genes that should be tested, understanding the impact genetic results will have on personalized treatment programs, and the effect hereditary testing for prostate cancer can have for men and their families.

Healthcare professionals and genetic testing companies are working hard to change that, though, and are making advances to bring hereditary cancer testing for prostate cancer to the men who need it. A group of healthcare professionals recently published key recommendations in Journal of Clinical Oncology, for example. The group, made of oncology, urology, genetic counseling, primary care, and Veterans Affairs experts along with patient stakeholders, strongly endorsed genetic testing in men with metastatic (spreading) prostate cancer to help guide treatment and to determine the patient’s eligibility in clinical trials. They also recommended this type of testing to screen men whose family history suggests an increased risk of prostate cancer and other types of cancer.  

 The researchers also addressed the impact hereditary cancer testing can have on the treatment of prostate cancer in its early stages. The group recommended BRCA-2 testing for screening and for helping men and their doctors make decisions about treating early-stage prostate cancer.

The researchers also reviewed cancer screening strategies, such as the age men should begin screening for prostate cancer and which genes to test. The group recommended testing BRCA2 and another gene, HOXB13, for screening and early detection. Furthermore, the panel recommended that BRCA2 carriers begin PSA testing early; doctors may recommend early screenings beginning at age 40 or about 10 years prior to the youngest prostate cancer diagnosis in the patient’s family.

Because hereditary testing may uncover inherited cancer risk, the researchers also discussed genetic testing for both male and female relatives of those men who test positive for genetic mutations, depending on the patient’s family history of cancer and other factors.

Hereditary cancer testing for prostate cancer is growing increasingly common because of the important role it plays in the screening, diagnosis and treatment of prostate cancer.

To View Frank Magliochetti Press Releases Please CLICK HERE

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Last year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment. Most recently; Frank was appointed Chairman and Chief Executive Officer at Designer Genomics International, Inc. The Company has accumulated a growing body of evidence that highlights a link between alterations in the immune and inflammatory systems and the development of chronic human disease. The Company is visionary and has established itself as a leader in the field of inflammatory and immune genetic DNA and RNA biomarkers that play a causative role in debilitating conditions, such as atherosclerosis/heart disease, diabetes, arthritis, inflammatory bowel disease, post-traumatic stress disorders (PTSD) and cancer.
A proprietary state-of-the art data mining bioinformatics program, called ‘cluster analysis’ will be used to measure disease development susceptibility with potential for earlier diagnosis and intervention. The company is developing a healthcare program based on its proprietary genetic panels that will allow people to be their own healthcare advocate and take an active role in their health status as well as longevity.

This image has an empty alt attribute; its file name is GRACE-HEALTH-TECHNOLOGY_Frank-MAgliochetti.jpg

Mr. Frank Magliochetti MBA
Managing Partner
Parcae Capital

www.parcaecapitalcorp.com
www.frankmagliochetti.com

Sources

https://www.cancer.org/cancer/prostate-cancer/about/key-statistics.html#:~:text=Deaths%20from%20prostate%20cancer,do%20not%20die%20from%20it.

https://www.mskcc.org/cancer-care/risk-assessment-screening/hereditary-genetics/genetic-counseling/inherited-risk-prostate

https://www.cancer.org/cancer/prostate-cancer/causes-risks-prevention/risk-factors.html

https://ascopubs.org/doi/10.1200/JCO.20.00046

Immunotherapy- What You Should Know

Immunotherapy is a type of cancer treatment that uses the body’s own immune system to fight cancer. Unlike traditional treatments that use chemotherapy and radiation to stop the growth of cancer – or to kill cancer cells outright – immunotherapy unblocks the immune system to allow the body to target and destroy the cancer.

The immune system detects and destroys abnormal cells. In fact, the immune system most likely prevents or slows the growth of many types of cancer cells. Immune cells are often found in or near tumors, for example. These cells, known as tumor-infiltrating lymphocytes (TILs), are often a sign that a person’s immune system is fighting the cancer. The National Cancer Institute notes that patients whose tumors contain TILs often fare better than those people whose cancer does not contain these lymphocytes.

While the immune system can prevent or slow the spread of cancer, cancer cells can avoid destruction by the immune system in a number of ways. Cancer cells may undergo genetic changes that make them harder for the immune system to detect, for example, or the surface of cancer cells may have proteins that turn off immune cells. In some cases, cancer cells can even cause the cells around the tumor to interfere with the immune system and prevent the destruction of cancer cells. Immunotherapy helps the immune system fight cancer.

Immunotherapy: Then and Now

Immunotherapy has its roots in 19th century medicine, when two German scientists independently noticed that patients’ tumors shrank after suffering a common skin infection. Bone surgeon William Bradley Coley first attempted to harness the immune system for treating bone cancer in 1891. Discoveries of T cells, interleukins, and other components of the immune system accelerated the research that led to cancer immunotherapy used today.

Medical professionals now refer to immunotherapy as the “fifth pillar” of cancer therapy, joining surgery, chemotherapy, radiation, and targeted therapy. Because it has become such an important approach to cancer treatment, and because of an increasing number of FDA approvals for immunotherapy drugs, a growing number of pharmaceutical companies are now offering immunotherapy drugs. In fact, Grand View Research, Inc. predicts the global cancer immunotherapy market will likely reach $126.9 billion by 2026. This growing market will help more patients get the immunotherapy drugs they need to treat cancer.

Doctors now use immunotherapy to treat a variety of cancers, including:

  • Lung cancer
  • Melanoma and some other types of skin cancers
  • Kidney cancer
  • Bladder cancer
  • Head and neck cancers
  • Lymphoma, which is cancer of the infection-fighting cells of the immune system

“Immunotherapy” is an umbrella term that covers several types of treatment for cancer, which can include:

Immune checkpoint inhibitors – Natural proteins, known as immune checkpoints, prevent the immune system response from being too strong, but they may prevent the immune system response from being strong enough to fight cancer; immune checkpoint inhibitors blocks these checkpoints to allow the body to mount a very strong immune response to cancer cells

T-cell transfer therapy – T-cells are a part of the immune system that recognize and kill viruses and abnormal cells; T-cell transfer therapy involves taking immune cells from the tumor, reproducing them in a lab, and then reintroducing them into the body through a needle in the vein

Monoclonal antibodies – Created in a lab, monoclonal antibodies bind to specific targets on cancer cells, thereby marking the cells for destruction by the immune system

Treatment vaccines – Boosts the body’s immune response against cancer

Immune system modulators – These drugs enhance the immune system’s response to cancer

Clinicians can administer immunotherapy in a variety of ways, including intravenous (IV) through a needle in a vein, oral, and topical preparations in cream form. In cases of bladder cancer, immunotherapy can be delivered via intravesical administration of immunotherapy fluid directly into the bladder.

For more information on immunotherapy for the treatment of cancer, consult with a physician or cancer care specialist.

To View Frank Magliochetti Press Releases Please CLICK HERE

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Last year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment. Most recently; Frank was appointed Chairman and Chief Executive Officer at Designer Genomics International, Inc. The Company has accumulated a growing body of evidence that highlights a link between alterations in the immune and inflammatory systems and the development of chronic human disease. The Company is visionary and has established itself as a leader in the field of inflammatory and immune genetic DNA and RNA biomarkers that play a causative role in debilitating conditions, such as atherosclerosis/heart disease, diabetes, arthritis, inflammatory bowel disease, post-traumatic stress disorders (PTSD) and cancer.
A proprietary state-of-the art data mining bioinformatics program, called ‘cluster analysis’ will be used to measure disease development susceptibility with potential for earlier diagnosis and intervention. The company is developing a healthcare program based on its proprietary genetic panels that will allow people to be their own healthcare advocate and take an active role in their health status as well as longevity.

This image has an empty alt attribute; its file name is GRACE-HEALTH-TECHNOLOGY_Frank-MAgliochetti.jpg

Mr. Frank Magliochetti MBA
Managing Partner
Parcae Capital

www.parcaecapitalcorp.com
www.frankmagliochetti.com

Sources

https://www.cancer.gov/about-cancer/treatment/types/immunotherapy

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6928196/

https://www.cancerresearch.org/immunotherapy/timeline-of-progress

https://www.grandviewresearch.com/press-release/global-cancer-immunotherapy-market

Managing Lab Protocols During the Pursuit of a Covid-19 Vaccine

Pursuit of Vaccine and Managing Lab Protocols during the Covid19 Pandemic

On April 22, 2020, the Director-General of the World Health Organization (WHO) said, “To be clear, WHO’s advice is to find and test every suspected case, not every person in a population.”

While testing every person is not essential to controlling COVID-19, finding and testing every suspected case is. As the COVID-19 outbreak sweeps across the globe, the world turns to laboratories for answers. Laboratory scientists are responding by providing doctors with ways to diagnose COVID-19 and by pursuing the development of a vaccine that could someday stop the pandemic in its tracks. Until a vaccine is found, social distancing and testing are the best ways to control the spread of the disease.

The 2019 novel coronavirus, now named SARS-CoV-2, has sickened millions of people with COVID-19. By the end of April 2020, the United States had by far the highest number of confirmed cases and deaths in the world, according to Johns Hopkins University.

Testing is the only way to determine the case fatality rate (CFR), which is the ratio between confirmed deaths and confirmed cases. Testing is also the best way to assess the overall effectiveness of preventive measures and vaccines. Determining the CFR requires time and reliable data to confirm cases and deaths based on trusted laboratory testing. Strict adherence to proven and accepted laboratory protocols provides the most accurate data possible.

Managing Laboratory Protocols during the COVID-19 Outbreak

Managing laboratory protocols during the SARS-CoV-2 outbreak is challenging because, as with the outbreak of any novel virus, researchers are entering uncharted territories. Virologists had a limited understanding of transmission patterns, clinical features, severity, and risk factors for COVID-19 infection at the start of the pandemic. To address those unknowns, WHO established Four Early Investigation Protocols, which are now known as the WHO Unity Studies.

The protocols rapidly and systematically collect and store data that will be critical in refining recommendations for case definition and surveillance, and for characterizing the key epidemiological features of COVID-19. The protocols will also help the medical community gain a greater understanding of the spread, severity and spectrum of the disease, as well as its impact on the community. Information gained from the data will help guide countermeasures, such as case isolation and contact tracing.

Rapid detection of COVID-19 cases is essential for controlling the emergence of this rapidly spreading illness and for understanding the key epidemiological features of the disease, but rapid detection requires wide availability of diagnostic testing.

Within a month of the first outbreak in China, the Centers for Disease Control and Prevention (CDC) developed a real time Reverse Transcription-Polymerase Chain Reaction (rRT-PCR) test that can diagnose COVID-19. The CDC provides instructions for the use of real-time rT-PCR assays for the in vitro qualitative detection of coronavirus in sera and respiratory specimens. FIND also maintains a list of SARS-CoV-2 tests in development or commercially available for COVID-19, and WHO maintains a list of COVID-19 in-house PCR protocols assays.

Challenges of managing laboratory protocols

Even with reliable assays, managing laboratory protocols during COVID-19 is challenging. The pandemic has disrupted the supply chain for many laboratories, for example. Personal protection equipment (PPE) is scarce, for example, and there have been shortages of SARS-CoV-2 PCR reagents.

Biosafety is also a major concern, as keeping lab workers safe is a high priority. The CDC has released biosafety guidelines for labs working with Coronavirus: Interim Laboratory Biosafety Guidelines for Handling and Processing Specimens Associated with Coronavirus Disease 2019 (COVID-19). These guidelines include essential information on virus isolation, waste management, and decontamination. The EPA also released an expanded COVID-19 disinfectant list on March 13, 2020, but social distancing is far more effective than disinfection for controlling viral transmission. Unfortunately, social distancing is much more difficult than disinfection in a typical laboratory, where technicians work side by side and in close proximity to specimens.

While the protocols are far from perfect, and disruptions in the supply chain can slow testing, laboratory protocols will continue to play an important role in preventing the spread of COVID-19 until a vaccine is found.

Pursuit of a COVID-19 Vaccine

The best way to defeat COVID-19 is to develop a vaccine, of course, but vaccine development can often take 10 to 15 years. Vaccines for respiratory viruses are also elusive. Two toddlers died in 1966 from respiratory syncytial virus (RSV), for example, and vaccines for the parainfluenza viruses (PIVs) and metapneumovirus (MPVs) are still not available.

There are 120 projects working towards a vaccine; only five have received approval for clinical trials in humans. University of Oxford researchers began Phase I human trials of ChAdOx1 nCoV-19 in late April. In this trial, half of the roughly 1100 participants receive ChAdOx1 nCoV-19 vaccine, while the control group receives the common meningitis vaccine, MenACWY. The first two volunteers, one from the test group and one from the control, received their inoculations on April 23, 2020.

Fast tracking the development of this vaccine or others could potentially save thousands or millions of lives, providing the vaccine undergoes sufficient testing to ensure its safety and efficacy. It is possible to get a licensed vaccine in one and a half to two years, and even possible to get a vaccine into use much sooner. Reliable laboratory testing will help researchers determine if their vaccines are working.

Many of the battles against the COVID-19 outbreak will be fought in laboratories in the United States and around the world. Widespread testing will play an important role in reducing deaths associated with coronavirus and improving the health and well-being of people across the globe.

To View Frank Magliochetti Press Releases Please CLICK HERE

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Earlier this year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment.

This image has an empty alt attribute; its file name is GRACE-HEALTH-TECHNOLOGY_Frank-MAgliochetti.jpg

Mr. Frank Magliochetti MBA
Managing Partner
Parcae Capital

www.parcaecapitalcorp.com
www.frankmagliochetti.com

SOURCES:

https://www.who.int/dg/speeches/detail/who-director-general-s-opening-remarks-at-the-media-briefing-on-covid-19–22-april-2020

https://www.who.int/dg/speeches/detail/who-director-general-s-opening-remarks-at-the-media-briefing-on-covid-19–22-april-2020

https://coronavirus.jhu.edu/map.htmlhttps://www.who.int/emergencies/diseases/novel-coronavirus-2019/technical-guidance/early-investigations

https://www.cdc.gov/coronavirus/2019-ncov/lab/index.htmlhttps://www.finddx.org/covid-19-2/pipeline/

https://www.who.int/docs/default-source/coronaviruse/whoinhouseassays.pdf?sfvrsn=de3a76aa_2

https://www.cdc.gov/coronavirus/2019-ncov/hcp/ppe-strategy/index.html?CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fcoronavirus%2F2019-ncov%2Fhcp%2Fhealthcare-supply-ppe.html

https://asm.org/Articles/Policy/2020/March/ASM-Expresses-Concern-about-Test-Reagent-Shortageshttps://www.cdc.gov/coronavirus/2019-ncov/lab/lab-biosafety-guidelines.htmlhttps://www.epa.gov/pesticide-registration/list-n-disinfectants-use-against-sars-cov-2

https://www.labconscious.com/blog/2020/3/17/laboratory-sustainablity-in-the-coronavirus-crisishttps://www.historyofvaccines.org/content/articles/vaccine-development-testing-and-regulation

https://cvi.asm.org/content/23/3/189https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4547785

https://www.cbsnews.com/news/coronavirus-vaccine-covid-19-human-clinical-trial-oxford-england/

http://www.ox.ac.uk/news/2020-04-23-oxford-covid-19-vaccine-begins-human-trial-stagehttps://www.drugbank.ca/drugs/DB15656

Top 3 Challenges in Healthcare in 2020

1. Cybersecurity

The medical and healthcare sector collects highly sensitive patient information, which puts the industry in the crosshairs of cybersecurity attacks. There were 2,546 healthcare data breaches involving more than 500 records in the United States between 2009 and 2018, resulting in the in the exposure and theft of 189,945,874 healthcare records – this equates to more than 59 percent of the nation’s population. In 2017 alone, the medical and healthcare sector experienced more than 350 data breaches that exposed 4.93 million patient records.

While experts are still finalizing the breach figures for 2019, it looks to be the worst year yet. Today, the healthcare industry accounts for four out of every five data breaches, according to HIPPA Journal. The cost of these breaches to the industry will likely reach $4 billion in 2020.

Black Book Market Research LLC recently surveyed 2,876 security professionals from 733 provider organizations to identify the reasons healthcare organizations continue to experience data breaches and cyber attacks. They found that budget constraints prevented the replacement of legacy software and devices, which left them more vulnerable to attack. “It is becoming increasingly difficult for hospitals to find the dollars to invest in an area that does not produce revenue,” said the founder of Black Book, Doug Brown, in a press release. Ninety percent of hospital representatives in the survey said that their IT security budgets have remained unchanged since 2016.

2. Transparency

Transparency has been a hot topic for several years, and will continue to be a burning issue into 2020 and beyond. A 2016 survey by Accenture found that 91 percent of consumers wanted to know their out-of-pocket costs before they received care.

Triggered by the Executive Order on Improving Price and Quality Transparency in American Healthcare to Put Patients First issued in June of 2019, the Centers for Medicare & Medicaid Services (CMS) issued new rules to increase price transparency.

The first rule, Calendar Year (CY) 2020 Outpatient Prospective Payment System (OPPS) & Ambulatory Surgical Center (ASC) Price Transparency Requirements for Hospitals to Make Standard Charges Public Final Rule, requires that hospitals provide patients with easily accessible information about standard charges for services and items offered. Standard charges must be available in a single data file that other computer systems can read. Hospital websites must display “shoppable services” information in a consumer-friendly format. This rule takes effect on January 1, 2021.

CMS’s second proposed rule, the Transparency in Coverage rule, would impose price transparency requirements on insurers.

3. Patient-friendly Payment Models

Patient financial responsibility for outpatient, and emergency department care is on the rise, with out-of-pocket costs increasing by 12 percent in 2018, according to TransUnion.

This shift towards patient financial responsibility could bog down invoice and payment processing, particularly for practices that do not have an in-house invoicing and payment processing system geared towards accepting payments from patients. These practices will need to build patient portals, secure payment processing, and other infrastructure to handle such payments and fund administrative costs of maintaining these technologies. Furthermore, they will need to ensure their payment portals and processing systems are compliant with guidelines that protect patient information.

Unfortunately, 90 percent of healthcare providers still use paper and manual payment processes, according to a 2018 InstaMed survey. To make matters worse, 70 percent of consumers said they were confused by medical bills. Not surprisingly, 77 percent of providers said it takes more than a month to collect a payment. To be paid on time, providers must overcome the obstacles of upgrading their payment processing systems and clarify billing.

With a little planning – and a bit of luck – those in the healthcare industry can overcome these challenges and put themselves in a great position for the rest of the decade.

To View Frank Magliochetti Press Releases Please CLICK HERE

Frank Magliochetti owes his professional success to his expertise in two areas: medicine and finance. After obtaining a BS in pharmacy from Northeastern University, he stayed on to enroll in the Masters of Toxicology program. He later specialized in corporate finance, receiving an MBA from The Sawyer School of Business at Suffolk University. His educational background includes completion of the Advanced Management Program at Harvard Business School and the General Management Program at Stanford Business School. Frank Magliochetti has held senior positions at Baxter International, Kontron Instruments, Haemonetics Corporation, and Sandoz. Since 2000, he has been a managing partner at Parcae Capital, where he focuses on financial restructuring and interim management services for companies in the healthcare, media, and alternative energy industries. Earlier this year, he was appointed chairman of the board at Grace Health Technology, a company providing an enterprise solution for the laboratory environment.

Mr. Frank Magliochetti MBA
Managing Partner
Parcae Capital

www.parcaecapitalcorp.com
www.frankmagliochetti.com

SOURCES:

https://www.beckershospitalreview.com/cybersecurity/11-of-the-biggest-healthcare-cyberattacks-of-2017.html

https://blackbookmarketresearch.com/health-data-security-and-privacy

https://www.prnewswire.com/news-releases/healthcare-data-breaches-costs-industry-4-billion-by-years-end-2020-will-be-worse-reports-new-black-book-survey-300950388.html

https://www.whitehouse.gov/presidential-actions/executive-order-improving-price-quality-transparency-american-healthcare-put-patients-first/

https://www.cms.gov/newsroom/fact-sheets/cy-2020-hospital-outpatient-prospective-payment-system-opps-policy-changes-hospital-price

https://www.hhs.gov/sites/default/files/cms-9915-p.pdf

https://newsroom.transunion.com/out-of-pocket-costs-rising-even-as-patients-transition-to-lower-cost-settings-of-care/

https://www.businesswire.com/news/home/20190415005538/en/