Weekly Roundup 7.6 – 7.10

News | July 10th, 2020

💰🏥Defying expectations, the digital health industry saw record funding for the first half of 2020, with private investment totaling $5.4 billion. Flexibility on regulatory and reimbursement barriers assuaged investors concerns regarding the status of digital health, with funding expected to see continued growth in the second half of the year. Link to article Source: HealthCareDive, Kelly, 2020

🏥Epic EHR, a cloud based catering system, is enabling hospitals to upgrade their virtual care practices while enhancing the patient experience, setting a precedent for medical institutions across the nation. Link to article Source: Healthcare IT News, Siwicki, 2020

🏥Innovacer and RubiconMD, a top tier eConsultant, have formed a partnership to enhance the relationship between primary care physicians and medical specialists. The collaboration will result in $3.5 million estimated annual savings/100,000 managed lives for Innovacer. Link to article Source: HITConsultant, Pennic, 2020

💰🏥The healthcare and social assistance sector has received a significant boost from the Paycheck Protection Program, approximately $67 billion so far, benefiting the HCIT industry as a whole. The funds have been dispersed across a wide range of health systems, with smaller providers relying on the funds to maintain operations. Link to article Source: HealthCareDive, Pifer, 2020

💰🏥The US Department of Veteran Affairs announced on Wednesday it will offer Philips a ten year contract potentially worth $100 million in order for Philips to develop a tele-critical care framework for VA. Link to article Source: Healthcare IT News, Miliard, 2020

💻📉Needham analysts predict a drop in both search and digital advertising revenue for Google, resulting in a total revenue dip of 7% YoY. Covid-19 has significantly impacted the number of searches filtered through the Alphabet-owned company, but Amazon has also taken a higher percentage of digital advertising revenue than in years past, now controlling 9.5% of the digital ad market with Facebook controlling 23.4%. Link to article Source: CNBC, Graham, 2020

💻Microsoft won court approval to restrict certain domains associated with fraud and cyberattacks. The pandemic has caused Americans to lose over $77 million in connection with covid-related scams. Link to article Source: CNBC, Novet, 2020

📱Social media platforms could see an increase in traffic as the US mulls the ban of popular video-creating app Tik Tok. Snapchat stock rose 6% as Secretary of State Mike Pompeo issued a statement stating they are seriously considering pulling Tik Tok from the US app store. Link to article Source: Investor’s Business Daily, Krause, 2020

📱🛒Looking to dominate the food-hailing industry, Uber announced it will partner with Chile-based startup Cornershop to offer grocery delivery services. In countries where Uber has experimented with grocer delivery, it has seen a 176% increase in delivery orders dating back to February. Link to article Source: cnet, Kerr, 2020

📱💳Wirecard bonds were auctioned off at 12% of their notational worth on Wednesday, with the sale being handled by Credit Suisse. Link to article Source: Bloomberg, Balezou, 2020