Health IT Business News – Thursday, January 30, 2014

Health IT Business NewsToday’s Business News

Kareo Inc., provider of cloud-based medical office software and services for small medical practices, today announced it has secured $29.5 million in growth capital. This latest financing was led by Greenspring Associates and joined by OpenView Ventures and Silicon Valley Bank. This new capital will be used to invest in sales and marketing to accelerate growth, further enhance the company’s cloud-based software platform, and scale its revenue cycle management operations.

CareCloud has announced it has been named one of America’s Most Promising Companies by Forbes Magazine. Chosen from thousands of applicants, the third annual list of America’s Most Promising Companies recognizes 100 privately-held, high-growth companies. Companies that received the distinction boast compelling business models, strong management teams, as well as notable customers and investors. CareCloud was ranked 28th and was the only Florida-based company to make the 2014 list. The full list of companies is available online at

Nuance Communications, Inc. has shared findings from a recent study of physician attitudes toward clinical documentation technology and processes. This study found a wide majority of practicing physicians (71%) report they would be more responsive to Clinical Documentation Improvement (CDI) clarifications if these were delivered in real-time within their normal documentation workflow in the electronic health record (EHR). Additionally, more than 80 percent of physicians say it is disruptive and time consuming when queries for information occur after they’ve documented in a patient chart or worse, after the patient is discharged. All believe that ICD-10 will make matters much worse. For a summary of Nuance’s research on physician attitudes towards clinical documentation and technology, visit

CynergisTek™, a provider of IT security solutions for healthcare organizations, announced it achieved record growth in 2013, with more than a 300 percent increase in sales and a 275 percent increase from its previous best sales record. The company also added two new executives to its leadership team and several new offerings to its solutions portfolio. CynergisTek, which celebrated ten years of being incorporated in December, attributes recent growth to increased demand for privacy and security compliance services in response to heightened regulatory requirements for healthcare providers and vendors that provide information services to the healthcare sector. Customers are also anticipating expanded enforcement of the HIPAA Privacy and Security Rules in wake of the new Omnibus Rule, as well as the Office for Civil Rights (OCR) and Centers for Medicare & Medicaid Services (CMS) audit programs, which require provider organizations to demonstrate compliance or risk costly penalties.

Hospital organizations and physician practices can speed ICD-10 code conversion of electronic health record (EHR) systems with the latest release of the 3M Code Translation Tool (CTT). The enhanced ICD-10 code translation technology from 3M Health Information Systems can now be used to convert ICD-9-based custom problem lists into ICD-10 coded problem lists for import back into the EHR system. The new feature transforms time-consuming, manual translation work into an efficient three-step process that reduces costs and frees IT resources for other critical projects.

FairWarning, Inc.,  inventor of patient privacy monitoring solutions for electronic health records, has been awarded the first ever Category Leader Award for Patient Privacy Monitoring in the “2013 Best in KLAS: Software & Services” report, January 2014.