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Friday, October 18, 2019

Medtronic launches the first artificial intelligence system for colonoscopy

Medtronic (NYSE:MDT) announces the launch of GI Genius intelligent endoscopy module at UEG Week in Barcelona, Spain.
The GI Genius module is the first system worldwide using artificial intelligence to detect colorectal polyps to highlight the presence of pre-cancerous lesions with a visual marker.
To bring this technology to market, Medtronic entered a worldwide distribution agreement with Cosmo Pharmaceuticals.
https://seekingalpha.com/news/3506810-medtronic-launches-first-artificial-intelligence-system-colonoscopy

Thursday, October 17, 2019

Big data technique reveals previously unknown abilities of common materials

When scientists and engineers discover new ways to optimize existing materials, it paves the way for innovations that make everything from our phones and computers to our medical equipment smaller, faster, and more efficient.
According to research published today by Nature Journal NPG Asia Materials, a group of researchers — led by Edwin Fohtung, an associate professor of materials science and engineering at Rensselaer Polytechnic Institute — have found a new way to optimize nickel by unlocking properties that could enable numerous applications, from biosensors to quantum computing.
They demonstrated that when nickel is made into extremely small, single-crystal nanowires and subjected to mechanical energy, a huge magnetic field is produced, a phenomenon known as giant magnetostriction.
Inversely, if a magnetic field is applied to the material, then the atoms within will change shape. This displacement could be exploited to harvest energy. That characteristic, Fohtung said, is useful for data storage and data harvesting, even biosensors. Though nickel is a common material, its promise in these areas wasn’t previously known.
“Imagine building a system with large areas of nanowires. You could put it in an external magnetic field and it would harvest a very huge amount of mechanical energy, but it would be extremely small,” Fohtung said.
The researchers uncovered this unique property through a technique called lensless microscopy, in which a synchrotron is used to gather diffraction data. That data is then plugged into computer algorithms to produce 3D images of electronic density and atomic displacement.
Using a big data approach, Fohtung said, this technique can produce better images than traditional microscopes, giving researchers more information. It combines computational and experimental physics with materials science — an intersection of his multiple areas of expertise.
“This approach is capable of seeing extremely small objects and discovering things we never thought existed about these materials and their uses,” Fohtung said. “If you use lenses, there’s a limit to what you can see. It’s determined by the size of your lens, the nature of your lens, the curvature of your lens. Without lenses, our resolution is limited by just the wavelength of the radiation.”
Fohtung used this same technique to show that barium hexaferrite — a universal and abundant material often used in tapes, CDs, and computer components — has spontaneous magnetic and electric polarization simultaneously that increases and decreases when exposed to an electric field. The property, known as ferroelectricity, is useful for fast-writing, power-saving, and data storage. Those findings were recently published in Physical Review B.
Fohtung believes that the lensless approach to studying substances will allow researchers to learn even more about solid state materials, like those used in technological devices. It may even enable deeper understanding of human tissue and cells, which could be viewed in a more natural habitat using this technique.
“What excites me so much about it is the potential for the future. There are so many existing materials that we are just not able to understand the potential applications,” Fohtung said.
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Fohtung worked with researchers from Los Alamos National Laboratory, New Mexico State University, and Argonne National Laboratory on both publications.
https://www.eurekalert.org/pub_releases/2019-10/rpi-bdt101619.php

Paratek gains on withdrawing Europe application for Nuzyra

Paratek Pharmaceuticals (NASDAQ:PRTK) is up 5.5% postmarket after it announced it’s withdrawn its application to the European Medicines Agency for marketing authorization for Nuzyra (omadacycline).
The EMA is recommending approval of Nuzyra for treating acute bacterial skin and skin structure infections, but not for community-acquired bacterial pneumonia — saying a second study is required for that indication.
The company wants an approval of both indications concurrently, since a 10-year market exclusivity would begin with the first approval.
It plans to resubmit the application after completion of a CABP study already agreed to with the FDA.
https://seekingalpha.com/news/3506762-paratek-plus-5_5-percent-withdrawing-europe-application-nuzyra

Chinese aesthetic treatment provider Aesthetic Medical sets terms for $30M IPO

Aesthetic Medical International Holdings, which operates aesthetic medical services centers in China, announced terms for its US IPO on Tuesday.
The Shenzhen, China-based company plans to raise $30 million by offering 2.5 million ADSs at a price range of $11 to $13. At the midpoint of the proposed range, Aesthetic Medical International Holdings would command a market value of $283 million.
Aesthetic Medical International Holdings (Pengai) was founded in 1997 and booked $113 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol AIH. Cantor Fitzgerald, Haitong International and Prime Number Capital are the joint bookrunners on the deal.

Health and well-being coaching codes approved: 4 things to know

The American Medical Association has approved new codes for health and well-being coaching, according to the National Board for Health and Wellness Coaching, a nonprofit subsidiary of the National Board of Medical Examiners.
Four things to know:
1. The AMA approved various Category III Current Procedural Terminology health and well-being coaching codes, which take effect Jan. 1.
2. After the board and the U.S. Department of Veterans Affairs applied to create the new tracking codes, the AMA’s CPT Editorial Panel approved new codes, including:
  • 0591T Health and Well-Being Coaching face-to-face; individual, initial assessment
  • 0592T individual, follow-up session, at least 30 minutes
  • 0593T group (two or more individuals), at least 30 minutes
3. The board stated in a news release that it and the VA will monitor use of the new codes by national board-certified health and wellness coaches to assess how effective coaching is as a part of the healthcare system.
4. Payers have the option of reimbursement for Category III codes beginning Jan. 1, but the widespread data that is collected by the board and the VA could support Category I approval, the board said, noting that payers typically begin reimbursement at the Category I level.
https://www.beckershospitalreview.com/finance/health-and-well-being-coaching-codes-approved-4-things-to-know.html

Alkermes up on tentative Vumerity approval

Alkermes (NASDAQ:ALKS) is up 1.5% after disclosing it’s gotten a tentative FDA approval for Vumerity (diroximel fumarate) for treating relapsing forms of multiple sclerosis.
Final approval is subject to the “expiration of a period of patent protection and/or exclusivity.”
The company says it believes this period relates to the term of a patent of the reference listed drug product that’s set to expire Oct. 20.
It filed its new drug application in December 2018, and certified to applicable patents of the reference listed drug product assuming a PDUFA action date in December 2019, aiming for a commercial launch as soon as possible after that.
https://seekingalpha.com/news/3506769-alkermes-plus-1_5-percent-tentative-vumerity-approval

AMA, MGMA to Congress: Don’t hand power to insurers in surprise billing fix

Congress’ attempt to solve the surprise billing resolution has turned into a battle between providers and insurers.
More than 100 physician organizations fired the latest volley, urging Congress in a letter (PDF) released Thursday not to turn more power over to health insurers.
The groups, which represent hundreds of thousands of physicians, asked Congress to find a balanced approach as members hammer out legislation to solve the surprise medical bill issue that has resulted in patients receiving unexpected bills, sometimes for hundreds of thousands of dollars, for care they received by out-of-network providers.

Any law passed by Congress should hold patients harmless for any excessive costs but not hand over more market power to insurers, the groups said, advocating for an independent dispute resolution process rather than letting insurers establish a benchmark median rate for all out-of-network charges.
The letter was led by the American Medical Association (AMA) and signed by 110 other organizations that represent physicians and medical practices. Other groups signing the letter included the Medical Group Management Association, the American College of Physicians, the American College of Emergency Physicians and medical societies from across the country.
The groups said if Congress passes legislation that is tilted toward insurers, it could precipitate staffing shortages in rural areas and other underserved communities and lead to access problems for patients seeking hospital-based care from on-call specialists.

“We are highly concerned that the rate-setting provisions in current bills further shift marketplace leverage to health insurers at the expense of providers,” the groups wrote in the letter sent to Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer and copied to leaders of House and Senate committees working on proposed surprise billing legislation.
“The health insurance market is already heavily consolidated, which can result in artificially low payment rates and anticompetitive harms to both consumers and providers of care,” they wrote.
Physician groups have advocated for an arbitration approach to surprise billing, which the letter said would incentivize health insurers to make fair payments for out-of-network care that is provided to their customers. The arbitration approach is similar to one being used in New York state. If an out-of-network provider receives a payment from an insurer they think is unfair, the provider and insurer will go to a dispute resolution system and then to “baseball-style” arbitration if they cannot negotiate a settlement. Both the provider and payer submit the amount they want for an out-of-network charge, and the arbitrator decides.

On the other hand, insurers favor the use of a benchmark median rate for all out-of-network charges. Similar to a California law, proposed legislation would allow insurance companies to base their payments to out-of-network providers on an insurer’s median in-network rate.
The letter pointed to Congressional Budget Office analysis that said the vast majority of healthcare is delivered inside patients’ insurance networks and more than 80% of the estimated budgetary effects of a benchmark system would result from changes to in-network payment rates.
“In other words, in-network providers who have not contributed to the problem will bear the impact of the rate-setting scheme,” the physician groups said.
The groups said an independent dispute resolution process should consider a number of factors in determining a mutually fair payment such as the complexity of the service rendered, the experience of the physician providing the service, the rate that physicians or other providers charge for the service in a geographic area and commercial insurance data from an independent and transparent source.
The letter also says legislation should establish strong network adequacy requirements so insurers cannot create such narrow networks that patients are pushed toward care that is out of network.
https://www.fiercehealthcare.com/practices/ama-mgma-other-physician-groups-tell-congress-don-t-hand-over-more-power-to-insurers