Today, Idaho Health Data Exchange (IHDE), Idaho’s statewide Health Information Exchange, announced a new long-term philanthropic financing partnership with Ethos Asset Management. Ethos, a private project financing provider with global operations, has committed to providing IHDE with a significant capital infusion of $8 million, in the form of a grant, that will continue for several years.
“Ethos has generously offered the opportunity for IHDE to sustain and increase this funding in the future which provides a significant foundation for BeyondHIE, the newly formed partnership that offers a comprehensive suite of services, technology, and project management to support value-based care,” said Hans Kastensmith, Executive Director of IHDE.
Ethos recognizes the importance of building a more humane and fair economy and assisting in improving society as a whole. Ethos helps non-profit entities upgrade their financial structures by the global allocation of USD 1.42 billion for Philanthropic Financing Facility (PFF) in 2020/21 and has pledged to set aside 8% of annual profits for PFF operations in future years.
“IHDE and Ethos’ new partnership allows for long-term fiscal stability in an increasingly unstable financial situation for Health Information Exchanges,” said Jesse Meldru, IHDE’s Director of Finance. “Changes to federal funding programs such as Hi-Tech Act coming next year are producing a void in capital nationally for health information exchanges. This changing landscape is producing instability in the market. This partnership will provide long-term financial support for IHDE and enable it to continue and improve on its innovative programs announced in late 2020 and into 2021.”
Carlos Santos, CEO of Ethos Asset Management, stated, “We are delighted to be able to support IHDE through our Philanthropic Financing Facility (PFF). We recognize the importance of the innovative health data and health information infrastructure that IHDE has put in place. We whole-heartedly support IHDE’s vision to meet patient and population health needs by enhancing the ability for Idaho’s healthcare providers, community-based organizations (CBOs), and other stakeholders to access important health information technology.”
IHDE’s bold healthcare transformation initiatives have moved from the planning and program development stages to the measurement and continuous improvement stages. Stakeholders throughout Idaho can realize multiple value propositions through the extension of Ethos’ gracious Philanthropic Financing Facility. IHDE’s innovative technology stack weaves together best-in-breed SAAS (software as a service) solutions that enhance the collection and exchange of health and social determinant data, including adding aggregation and data analysis capabilities producing actionable insights to support clinical decision-making.