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Morning Briefing

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Wednesday, Apr 8 2020

Full Issue

'All-Hands-On-Deck Moment': Investors In Tech World Provide 'Exotic' Methods To Provide Attractive Funding

California's venture capital firm Fifty Years is offering $25,000 loans with fewer payback demands to firms making hand sanitizers for hospital workers and at-home test kits. Also, Twitter and Square CEO Jake Dorsey says he's committing a third of his wealth to fight the pandemic. News from the technology world is on telemedicine, as well.

Extraordinary times call for extraordinary financing instruments, according to one California venture capital firm. A San Francisco-based early-stage investor, Fifty Years, has offered $25,000 to 14 of the health tech companies it鈥檚 already invested in, all of which are now working on coronavirus-related projects 鈥 and that money is coming with far fewer strings than usual. It鈥檚 hoping the extra money will allow its portfolio companies to produce tests, treatments, or basic needed supplies like masks or hand sanitizers. (Sheridan, 4/8)

Jack Dorsey, the chief executive of Twitter and Square, said on Tuesday that he planned to donate $1 billion, or just under a third of his total wealth, to relief programs related to the coronavirus, in one of the more significant efforts by a tech billionaire to fight the pandemic. Mr. Dorsey said he would put 28 percent of his wealth, in the form of shares in his mobile payments company Square, into a limited liability company that he had created, called Start Small. Start Small would make grants to beneficiaries, he said, with the expenditures to be recorded in a publicly accessible Google document. (Isaac, 4/7)

While the healthcare industry is generally supportive of the CMS' efforts to expand telehealth services under Medicare Advantage, it has some problems with the policy details. It's also split on network adequacy standards for dialysis patients and united against the agency's proposal to change how it weighs patient experience in its Star Ratings system. (Brady, 4/7)

Where does it hurt? When doctors at Boston鈥檚 renowned teaching hospitals ask patients that question these days, it鈥檚 usually in a video conference or telephone call, even when physicians are treating people for life-threatening illnesses such as cancer and heart disease. Three weeks after Governor Charlie Baker ordered health insurers to cover telehealth in an effort to limit the spread of the new coronavirus, most outpatients at Massachusetts General Hospital, Brigham and Women鈥檚 Hospital, and Dana-Farber Cancer Institute are 鈥渟eeing鈥 their physicians remotely. (Saltzman, 4/7)

As Indiana sees staggering increases in the number of people seeking help for mental health and addiction during the coronavirus pandemic, state officials are encouraging Hoosiers to utilize telehealth.聽Experts say the uncertainty of the pandemic is causing聽many people extra stress and anxiety. For those with existing mental health conditions, the impact is exacerbated.聽(DePompei, 4/8)

For-profit hospital chain HCA Healthcare is encouraging other hospitals to share COVID-19 data through a new project it unveiled Monday, dubbed the COVID-19 National Response Portal. HCA's vision is for hospitals across the U.S. to share data on COVID-19 testing results, critical-care beds, ventilator utilization and patient discharges, which the platform can aggregate to aid in response to the novel coronavirus. Illustrating the spread of the pandemic could help hospitals plan for challenges such as patient surges. (Cohen, 4/7)

This is part of the Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
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