MYnd Analytics, Horizon Healthcare Services, Inc., Hackensack Meridian Health and Cota Inc., Announce Collaboration to Demonstrate Clinical Utility and Cost Savings When Utilizing the Peer Online®
MISSION VIEJO, Calif., Aug. 16, 2017 (GLOBE NEWSWIRE) -- MYnd Analytics, Inc. (NASDAQ:MYND), a predictive analytics company which brings objective physical findings to psychiatric treatment, announced today a four-way collaboration on a clinical study for the treatment of patients with depression. The joint clinical study, with Horizon Healthcare Services, Inc., New Jersey’s oldest and largest health insurer, Cota, Inc., and Hackensack Meridian Health a not-for-profit comprehensive and integrated health care network in New Jersey, is to confirm improvement in clinical outcomes and deliver enhanced value to the healthcare system.
This 600-patient demonstration project will utilize Peer Online® and its predictive algorithm as a clinical decision support tool for evaluating the effectiveness of medication management approaches to patients with depression. The study will explore how the use of PEER Online® may reduce trial and error medication management among patients with depression, thereby improving psychiatric assessments (based on standard instruments of efficacy) while at the same time reducing total costs of care. Cota will perform data gathering and analytics and assign a score to each study participant.
“We believe this study design embraces the importance of data sharing and analytics to assist physicians in making more precise medication prescribing decisions for depression and other mental health disorders,” stated Ramon Solhkhah, M.D., chairman, Department of Psychiatry at Hackensack Meridian HealthJersey Shore University Medical Center and corporate medical director of Meridian Behavioral Health.
“Horizon is committed to using a value-based approach to improve the health of our 3.8 million members, reduce costs and enhance the patient experience,” said Allen J. Karp, Senior Vice President of Healthcare Management for Horizon Healthcare Services, Inc. “The possibility of optimizing clinical outcomes in behavioral health while at the same time lowering overall health care costs through the utilization of scalable predictive analytics tools is exciting and important in a value-based health care system,” Karp said.
“Innovation is transforming healthcare, and our health care system is always looking for new tools that will enable more efficient and effective delivery of personalized medical care. Behavioral health affects many aspects of one’s health, having technology that enables practitioners to improve the methodology for treating mental health conditions will impact many other clinical areas,” said Robert C. Garrett, co-CEO of Hackensack Meridian Health.
“We fully expect based on previous clinical trial results that the study will demonstrate the clinical benefits of utilizing the PEER Online® versus trial and error prescribing, and we look forward to working with a prestigious insurer that covers close to 4 million lives in NJ to show the economic impact of this tool,” stated George Carpenter, CEO of Mynd Analytics.
”Cota is excited to be applying its proprietary CNA® technology to behavioral health in such an important pilot project,” said John Hervey, CEO of Cota. “The objectives of this program precisely align with our core mission of enabling patients to receive optimal care.”
Patients will be enrolled by primary care physicians associated with Hackensack Meridian Health in New Jersey. Patient outcomes will be tracked by COTA. Horizon Healthcare Services, Inc. will cover the costs for the 600 Horizon members enrolled in the study who receive the PEER Online® to help their Hackensack Meridian Health affiliated physicians guide their treatment.
About MYnd Analytics, Inc.
MYnd Analytics, Inc. (www.myndanalytics.com) is a predictive medicine company which brings objective physical findings to psychiatric treatment in order to reduce trial and error prescribing. The Company’s Psychiatric EEG Evaluation Registry, or PEER Online®, is a registry and reporting platform that allows medical professionals to exchange treatment outcome data for patients referenced to objective neurophysiology data obtained through a standard electroencephalogram (EEG). Based on the Company’s original physician developed database, there are now more than 38,000 outcomes for over 10,000 unique patients in the PEER registry. The goal of PEER Online® is to provide objective, personalized data to assist physicians in the selection of appropriate medications.
To read more about the benefits of this patented technology for patients, physicians and payers, please visit www.myndanalytics.com.
About Horizon Healthcare Services, Inc.
Horizon Healthcare Services, Inc., New Jersey’s oldest and largest health insurer, is a tax-paying, not-for-profit health services corporation, providing a wide array of medical, dental, and prescription insurance products and services. Horizon Healthcare Services, Inc. serves 3.8 million members with headquarters in Newark and offices in Wall, Mt. Laurel, and West Trenton. Learn more at www.HorizonBlue.com.
ABOUT HACKENSACK MERIDIAN HEALTH
Hackensack Meridian Health is a leading not-for-profit health care organization that is the most comprehensive and truly integrated health care network in New Jersey, offering a complete range of medical services, innovative research and life-enhancing care. Hackensack Meridian Health comprises 13 hospitals, including two academic medical centers, two children's hospitals and nine community hospitals, physician practices, more than 120 ambulatory care centers, surgery centers, home health services, long-term care and assisted living communities, ambulance services, lifesaving air medical transportation, fitness and wellness centers, rehabilitation centers, and urgent care and after-hours centers. Hackensack Meridian Health has 28,000 team members, more than 6,000 physicians and is a distinguished leader in health care philanthropy, committed to the health and well-being of the communities it serves.
The Network's notable distinctions include having one of only five major academic medical centers in the nation to receive Healthgrades America's 50 Best Hospitals Award for five or more consecutive years, the number one hospital in New Jersey as ranked by U.S. News and World Report, consistently achieving Magnet® recognition for nursing excellence from the American Nurses Credentialing Center, recipient of the John M. Eisenberg Award for Patient Safety and Quality from The Joint Commission and the National Quality Forum, a six-time recipient of Fortune's "100 Best Companies to Work For," one of the "20 Best Workplaces in Health Care" in the nation, and the number one "Best Place to Work for Women." Hackensack Meridian Health is a member of AllSpire Health Partners, an interstate consortium of leading health systems, to focus on the sharing of best practices in clinical care and achieving efficiencies.
The hospitals of Hackensack Meridian Health include: academic medical centers – Hackensack University Medical Center in Hackensack, Jersey Shore University Medical Center in Neptune; children's hospitals – Joseph M. Sanzari Children's Hospital in Hackensack, K. Hovnanian Children's Hospital in Neptune; community hospitals – Ocean Medical Center in Brick, Riverview Medical Center in Red Bank, Mountainside Medical Center in Montclair, Palisades Medical Center in North Bergen, Raritan Bay Medical Center in Perth Amboy, Southern Ocean Medical Center in Manahawkin, Bayshore Medical Center in Holmdel, Raritan Bay Medical Center in Old Bridge, and Pascack Valley Medical Center in Westwood.
For additional information, please visit www.HackensackMeridianHealth.org.
About Cota, Inc
Cota is a technology platform that enables providers, payers, and life science companies involved in diagnosing and treating complex diseases to optimize the outcomes of individual patients and lower the overall cost of the patient population served. It is powered by the patented Cota Nodal Address™ (CNA) system, a unique digital classification methodology built by leading physicians and data scientists. The CNA is the first and only system that precisely categorizes patient factors, their diseases and intended therapies, enabling precision medicine at scale.
Cota's technology enriches medical records to create research-grade data, and joins it with a suite of analysis, visualization, and management tools. This enables providers, payers, and life sciences companies to analyze, report on, and research outcomes, costs, treatments, and quality at any granularity and stage of the patient journey. The result is a constantly improving system that merges technology and medicine to improve the lives of patients everywhere.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements involve risks and uncertainties, such as MYnd's ability to successfully expand into various market channels, the ability of its products to successfully target objectivity and increased efficiency in the treatment of depression and other mental health and psychiatric illnesses and MYnd's ability to expand globally in areas where there is an opportunity to improve treatment in mental health, as well as those risks and uncertainties set forth in MYnd's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
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