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Kareo Secures $15 Million in Mezzanine Debt from Escalate Capital Partners

Latest investment brings total capital raised in 2014 to $47MM, new capital will be used to further expand Kareo’s cloud-based solutions for independent physicians

Irvine, CAOctober 24, 2014 Kareo, the leading provider of cloud-based medical office software for small medical practices, today announced that it has received $15 million in mezzanine debt from Escalate Capital Partners, an institutionally backed mezzanine fund that invests in high growth companies in the technology, healthcare and Software-as-a-Service (SaaS) industries. In 2014, Kareo has secured a total of $47 million in funding, reinforcing the company’s unprecedented growth and further enhancing Kareo’s role as the independent physician’s trusted partner.

Kareo enables independent physicians and their staff to streamline patient engagement, clinical documentation, billing, and other critical administrative processes in order to focus on what matters most—providing quality patient care. The $15 million in new growth capital will be used to further expand Kareo’s reach and deepen its solution set to meet inevitable demand due to patient-driven shifts in the industry, while accelerating the development and innovation of the company’s cloud-based technology.

“The shift toward consumer-driven care is continuing to gain momentum,” says Dan Rodrigues, founder and CEO of Kareo, “and we believe that independent practices are uniquely positioned to benefit from this trend and provide the most appropriate and highest quality care to patients. We are delighted to have the backing and confidence of Escalate as we further enhance our products to better support small practices.”

Kareo’s mission has been affirmed by its significant growth. The company has been consistently recognized as one of the fastest growing private companies in the U.S., realizing a 552 percent increase in revenue over the past three years. The company now serves more than 25,000 healthcare providers with its award-winning EHR, practice management and billing services platform, and is adding more than 500 provider customers per month.

“Kareo’s unique business model and market-leading solutions are changing the game in healthcare IT,” says Ross Cockrell, managing director at Escalate Capital Partners. “There is considerable market opportunity for Kareo as independent physicians provide the majority of patient care in the United States. And with increasing focus on fee-for-quality reimbursement models, this trend will likely continue. Kareo is well poised to sustain its growth record and we are excited to be a part of its continued success.”

The latest financing brings Kareo’s total capital raised to $90 million. New investor Escalate Capital Partners joins Kareo’s group of top-tier institutional investors which also include OpenView Venture Partners, Greenspring Associates, Stripes Group, Silicon Valley Bank and Western Technology Investments.

About Kareo

Kareo is the only cloud-based medical office software and services platform purpose-built for small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated solution of products and services designed to help physicians get paid faster, run their business smarter, and provide better care. Our practice management softwarebilling services, and free, award-winning fully certified EHR help more than 25,000 medical providers more efficiently manage the business and clinical sides of their practice. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Forbes Top 100 Most Promising Companies, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor. Headquartered in Irvine, California, the Kareo mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.

About Escalate Capital Partners

Escalate Capital Partners is an institutionally backed mezzanine fund that invests in high growth companies and is an ideal partner at the critical growth phase in a company’s lifecycle, offering patient capital tailored to each company’s unique needs. Escalate Capital has built a track record as a valued and committed partner through periods of robust growth and economic uncertainty. The Escalate Capital investment team has a combined 75+ years of experience and has invested more than $2 billion in over 500 companies.

October 24, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Exostar Obtains $5 Million Investment for their Growing Healthcare Business

HERNDON, VA, October 7, 2014Exostar, an innovative information technology company offering cloud-based solutions that enable secure, cost-effective business-to-business collaboration, today announced a $5.0 million investment to enable them to accelerate the growth and expansion of their healthcare and life science business.

Exostar’s cloud-based authentication identity hub for the healthcare industry, Secure Access Manager (SAM), connects customers with other organizations securely across large communities of users. The investment, made by the Merck Global Health Innovation Fund, will help Exostar maintain its rapid growth in these markets and expand into related verticals.

The healthcare industry continues to become more reliant on secure connections, not only to ensure organizations meet all compliance issues, but to support critical digital health applications such as ePrescribing, Health Information Exchange (HIE), and clinical collaboration.  Exostar leverages over a decade of experience helping companies access, utilize and share business-critical information and applications through an easy-to-use, secure Software as a Service (SaaS) model.

“Exostar has successfully expanded from its Aerospace & Defense heritage into other vertical markets that have similar requirements for secure collaboration, complex supply chain needs or identity management to support their core business processes,” said Richard Addi, Exostar’s CEO.  “Our solution is an ideal fit for the healthcare and life science community that needs to set up connections with partners and their applications quickly and securely.  Exostar helps its customers connect with thousands of partners in their ecosystem without compromising network security or intellectual property.”

Originally established by some of the largest companies in the pharmaceutical and life sciences industry, the Exostar life sciences identity hub today includes more than 600 life science focused companies, government agencies and universities supporting the collaboration initiatives of thousands of individuals.

“Exostar’s secure cloud-based access and existing user base delivers a strong complement to the current and future needs of the data-driven healthcare industry,” said Joe Volpe of Merck’s Global Health Innovation Fund.

About Exostar

Exostar powers secure business-to-business information sharing, collaboration and business process integration throughout the value chain.  Exostar supports the complex trading needs of many of the world’s largest companies in aerospace and defense, life sciences, and other industries.  Exostar’s cloud-based identity assurance products and business applications reduce risk, improve agility and strengthen trading partner relationships and profitability for over 100,000 companies in 150 countries worldwide.  The Exostar community includes market leaders such as AstraZeneca, BAE Systems, Bell Helicopter, The Boeing Company, Computer Sciences Corporation, Lockheed Martin Corp., Merck, Newport News Shipbuilding, Northrop Grumman, Raytheon Co. and Rolls-Royce.  For more information, please visit www.exostar.com.

About Merck Global Health Innovation Fund, LLC

Merck Global Health Innovation Fund, LLC (GHIF) invests in emerging companies that deliver breakthrough health care solutions, which advance Merck’s mission to discover, develop and provide innovative products and services that save and improve lives. For more information, visit http://www.merck.com/ghi.

October 7, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Nextech to Acquire MDIntelleSys, the Leading Cloud-Based EHR for Eye Care

Tampa, Florida – October 2, 2014 – Nextech Systems, a leading provider of specialty-focused healthcare technology solutions for physician practices, and MDIntelleSys (MDI), a leading cloud-based electronic health record (EHR) for ophthalmologists, today announced that they have entered a strategic agreement in which Nextech will acquire MDI. The acquisition of MDI effectively doubles Nextech’s ophthalmology market share while adding clinical depth and ophthalmic expertise to Nextech’s suite of solutions. It will also allow Nextech to immediately provide its cloud-based practice management solutions to MDI customers.

“This strategic acquisition strengthens Nextech’s position as the industry leader in specialty-specific healthcare IT solutions, and by combining our product portfolio with MDI, we will be able to offer a collective SaaS presence in our markets,” says David Henriksen, CEO of Nextech. “Together, MDI and Nextech will drive product innovation and deeper engagement with our customers and partners to support the unique needs of specialty physicians.”

Nextech is the largest specialty-specific EHR provider and is the only specialty EHR to be ranked in Medscape’s “Top Favorite EHR List.” Nextech’s industry leading position is supported by the strategic experience and financial strength of healthcare technology focused private equity firm Francisco Partners. In October of last year, Francisco Partners made a strategic investment in Nextech due to its strength and stability as the largest all-in-one specialty specific solution. Through this acquisition, MDI clients are now able to take advantage of Nextech’s full product suite of integrated solutions, including practice management, marketing, inventory and optical shop management modules. These customers will also gain access to Nextech’s consultative services with regard to meeting requirements for meaningful use and ICD-10.

“It is the goal of both Nextech and MDI to capitalize on our joint success in the ophthalmology market to further advance our solution offerings,” says Dan Montzka, MD, founder, chairman and CEO of MDIntelleSys. “This transaction will enhance both companies’ offerings immensely, better serving the needs of more than 25,000 ophthalmologists in the United States alone.”

By joining forces with MDI, which ranked number one in nine categories on the American Society of Ophthalmic Administrators (ASOA) 2013 EHR Customer Satisfaction Survey, Nextech is able to further extend its position as the premier specialty-specific solution for ophthalmology practices. Nextech will leverage MDI’s Software as a Service (SaaS) capabilities to expand the company’s cloud offering, extending the usability and reach of Nextech’s integrated solution. Nextech will now offer both a client-server model and cloud-based solution to meet each practice’s unique needs.

“Over the years, I have admired MDI’s excellence in customer service, clinical product focus and its unique SaaS offering.   A testament to the leadership and passion of Dr. Montzka and his team,” says Dr. Kamal Majeed, Founder and Board Member of Nextech. “Combined with Nextech’s all-encompassing products and mobile platforms, this partnership creates a powerful and most unique offering in the market.”

Dr. Dan Montzka will assume the role of Chief Medical Officer at Nextech. While still subject to customary closing conditions, MDIntelleSys, LLC will now be known as MDIntelleSys, a Nextech company. The product portfolios from both companies will continue to move forward as Nextech and MDI work to advance and combine their respective solution offerings.

About Nextech

Nextech deploys specialty-focused healthcare technology for physician practices. As a trusted advisor to thousands of specialty providers since 1997, Nextech delivers consultative guidance, professional services and innovative tools that enable clients to increase efficiencies while meeting their long-term business goals. The company’s robust solutions integrate seamlessly with value-added modules to create a single, intuitive platform that streamlines clinical, administrative, financial and marketing workflows. To learn how Nextech’s advanced offerings help specialty providers succeed in a fast-changing healthcare environment, visitwww.nextech.com.

About MDIntelleSys

MDIntelleSys, A Nextech Company, located in Clearwater, Florida designs, develops and markets intelligent healthcare solutions for ophthalmologists. MDI’s electronic health records (“EHR”) software, called IntelleChart, is the leading cloud based EHR specifically designed for eye care specialists. For additional information visit: www.mdiehr.com.

About Francisco Partners 

Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry.  The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm’s deep sub-sector knowledge and operational expertise can help a company realize its full potential. For further information, please visit: www.franciscopartners.com.

October 6, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Pristine Raises $5.4 Million in Series A Funding

Led by S3 Ventures, funding will fuel growth of HIPAA-Compliant enterprise communication solutions for Google Glass

AUSTIN, TX

Pristine, developers of the only HIPAA-compliant video streaming and checklist solutions for Google Glass, announced today that it has raised $5.4 million in Series A financing. Austin-based S3 Ventures led the oversubscribed round, which also included Capital Factory, HealthFundr, and a syndicate of strategic clients. This new financing enables the company to expand its R&D, sales, marketing, and operations teams, supporting the company’s rapid growth.

“The team at S3 has pioneered cutting-edge developments in medical devices, enterprise health IT solutions, and more,” said Kyle Samani, cofounder and CEO of Pristine. “With our rapid growth, we are thrilled to have partners with a strong track record of guiding early stage companies to success.

Pristine was born from a common refrain in healthcare: “Hey, can you come over here and look at this?” In response, the company developed EyeSight, the first commercially available, HIPAA-compliant telepresence platform for Google Glass. EyeSight is also finding success outside of healthcare, working with pharmaceutical, medical device, and manufacturing companies on remote support and training applications.

“Wearable technologies like Google Glass are revolutionizing how healthcare is delivered, and the Pristine platform is the market leader,” said Brian R. Smith, Managing Director at S3 Ventures. “Current customers are raving about the product, and we are excited to partner with Pristine to continue innovating in healthcare, as well as remote support applications in other industries.”

“We have deployed EyeSight in ERs, ORs, ICUs, ambulances, and even patients’ homes,” added Samani. “We understand that security is paramount. There is a lot of misinformation about Glass and privacy out in the wild; we have gone the extra mile to guarantee security and control for our clients. Our utmost focus on security will fuel our growth as we scale our wearable communication technology throughout healthcare and across other industries.”

About Pristine

Pristine is pioneering the next generation of telepresence in healthcare and other industries. EyeSight, Pristine’s flagship app, enables HIPAA-compliant audio/video streaming across every platform–Mac, PC, iPhone, iPad, Android, Google Glass, and other smart glass devices. EyeSight is currently in use for patient care across ERs, ORs, ICUs, ambulances, as well as in

medical education and medical device service. More information can be found at www.pristine.io, pristine.io/blog, and by following @PristineIO on Twitter

About S3 Ventures

S3 Ventures is an earlier stage venture firm with $185 million under management. The firm is focused on information technology solutions that solve large business problems and in medical devices that improve the human condition. S3 invests primarily in the formative stages of a company and partners with the team to help focus methodically on what it takes to build a successful company. For more information about S3, visit http://www.s3vc.com.

September 29, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Healthsense Closes $10 Million Financing with Boston-Based Mansa Capital

Boston, Mass. & Minneapolis, Minn. – Aug. 19, 2014 – Healthsense,® Inc., the fastest growing provider of technology-enabled care solutions for the senior care continuum, announced today that it has closed on $10 million in financing led by Mansa Capital, a Boston-based  private equity firm focused on the $2.8 trillion U.S. healthcare market. Previous investors Merck Global Health Innovation Fund and Radius Ventures LLC also participated in the round.
 
“Mansa Capital possesses exceptionally strong relationships that Healthsense can leverage to expand our reach into the managed care and home health markets, where we see major growth opportunities. This is an ideal complement to our thriving senior living business,” said Healthsense President and CEO A.R. Weiler“Mansa Capital’s involvement will extend the exceptional benefits we have realized from previous investments with Merck GHI, Radius and B.C. Ziegler and Company, influential investors whose market knowledge and resources have helped us achieve our continued growth and success.”
 
With Healthsense’s growing focus on helping managed care organizations optimize care, the firm has deployed several pilot programs within the last year including partnerships with Humana Cares/Senior Bridge, Fallon Health, and various others. Early program results suggest a positive impact of the Healthsense eNeighbor® remote monitoring platform on improving care outcomes for those with chronic health conditions by providing earlier interventions and readmission rate reductions in various care environments.  

“We seek to engage with companies that demonstrate both strong growth potential and the ability to advance the healthcare industry’s Triple Aim of improving care, reducing costs and enhancing the patient experience,” said Mansa Capital Managing Partner and Chief Investment Officer Ruben King-Shaw Jr., who will join the Healthsense Board of Directors. “Healthsense embodies all that we look for when considering an addition to our healthcare portfolio, particularly given the ever-increasing industry focus on managed care.”

Headquartered in Boston, Mansa Capital invests primarily in high-growth healthcare services and technology companies with experienced management teams, sound business franchises and substantial potential. The healthcare private equity investment firm seeks to develop companies that deliver advances in cost-effective care, demonstrate potential for strong organic revenue growth, and exhibit attractive margins as well as high returns on capital.
 



About Healthsense, Inc.
Healthsense is the fastest growing provider of technology-enabled care solutions for the senior care continuum. With a full range of remote monitoring, emergency response and wellness management solutions, Healthsense helps senior care providers and managed care organizations significantly reduce costs, increase independence and enhance caregiver and senior experiences. Built on a wireless platform, Healthsense products are scalable and enable flexible technology-enabled care designs that help in the delivery of the highest quality care across the entire care continuum. Visit www.healthsense.com for more information.

About Mansa Capital
Headquartered in Boston, Mass., with offices in New York City, Miami and Dallas, Mansa Capital is a private equity firm focused on the $2.5 trillion healthcare sector in the U.S. including Puerto Rico and the U.S. Virgin Islands. The firm uses its expertise in healthcare policy and economics to help management teams grow top line revenues and develop new products that build exceptional value. Mansa Capital’s principals bring to the firm extensive expertise in healthcare operations, marketing and finance including senior-level experience in healthcare compliance, regulation and reimbursement. The team has distinctive knowledge in the early identification of innovative business models that enable patients and providers to thrive in the post-healthcare reform environment. The firm also has special insights in the largely untapped Hispanic healthcare market. Visit www.mansancapital.com for more information. 

August 19, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Epion Health Receives $4.5M Series A Funding from Deerfield Management

ROSELAND, N.J.July 18, 2014 /PRNewswire/ — Epion Health announced the closing of a $4.5M Series A financing round with Deerfield Management Company, a New York City based investment firm. The funding will be used to scale Epion’s rapidly growing, iPad based, digital check-in and patient engagement platform used in healthcare facilities around the country.

This news comes on the heels of Epion’s recent announcement of a partnership and successful integration with athenahealth. Epion’s solution is now live and available to Athena’s network of 52,000 plus providers.

At the announcement, Epion’s CEO, Joe Blewitt said, “This additional capital comes into the company at an exciting time. We now have the necessary resources for the foreseeable future to capitalize on a very large market opportunity. In addition to growing our sales and operations teams, a portion of the funding will be used to continue to enhance our product for our rapidly growing network of providers. Our focus is on helping our providers increase revenues, decrease costs and improve patient satisfaction and patient outcomes. We’re excited to be partnering with Deerfield Management. In addition to deep pockets, Deerfield brings strong healthcare industry expertise and an extremely robust research arm to the table.”

Deerfield is committed to supporting innovative healthcare technology solutions and is excited about Epion’s ability to both improve practice level economics as well as enhance clinical care and patient experience,” remarked Leslie Henshaw, a Partner at Deerfield Management.

About Epion Health

Epion Health is a Healthbox Accelerator alumni company and offers a software as a service, patient engagement platform at the point of care, beginning with the patient check-in process. By replacing clipboards and paper forms with iPads, Epion improves efficiencies and engages patients to improve outcomes. The service fully integrates with Electronic Health Record and Practice Management systems.

About Deerfield Management Company 

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information about Deerfield, please visit www.deerfield.com

July 22, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

CareCloud Raises $25.5 Million in Venture Debt from Hercules Technology Growth Capital

MIAMI–(BUSINESS WIRE)– CareCloud, the leading provider of cloud-based practice management, electronic health records (EHR), and medical billing software and services, today announced that it has received a $25.5 million debt financing commitment from Hercules Technology Growth Capital, Inc. (NYSE: HTGC), the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, at all stages of development.

“We are thrilled to have the support and confidence of a leading technology investor like Hercules as we continue to execute on our aggressive business plan,” said R. Scott Lentz, Chief Financial Officer of CareCloud. “This commitment will enable us to accelerate the expansion of our technology solutions and further our strategic objective of providing the industry’s first modern cloud-based platform for healthcare.”

“We appreciate the opportunity to provide the financing required to advance CareCloud’s efforts to expand its market footprint and achieve its impressive growth objectives,” commented Tony Pandjiris, Managing Director at Hercules. “We are confident that CareCloud’s strong management team will be able to seize on the considerable market opportunity as medical groups look to modernize their IT infrastructure and deliver the best patient care possible.”

CareCloud reported record revenue increases during the first quarter of 2014, representing its 17th consecutive quarter of year-over-year triple-digit revenue growth. During the quarter, CareCloud also signed a record of over 170 new medical groups to its cloud-based platform. The Company’s cloud-based platform currently supports thousands of providers in 48 states and manages more than $3 billion in annualized accounts receivables on behalf of its clients. The Company’s award-winning platform also engages more than 8 million unique patients through CareCloud Community, which allows for greater patient engagement and care coordination and is the cornerstone of the company’s vision to be the industry’s Single Log In for Healthcare.

While many physician practices are increasingly concerned about the health of their practices, CareCloud offers products and services to help. The May 2014 Practice Profitability Index (PPI) surveyed over 5,000 U.S. physicians and found they are now more than twice as likely to foresee eroding, not increasing, profits in 2014. Those with a negative outlook increased from 36% to 39% during the past year, while optimists declined from 22% to 19%.The percentage of doctors spending more than one day a week on paperwork rose sharply between 2013 and 2014, from 58% to 70%. Nearly one-quarter (23%) spend more than 40% of their time on administration, up from 15% last year.

About Hercules Technology Growth Capital, Inc.

Hercules Technology Growth Capital, Inc. (NYSE: HTGC) is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, at all stages of development. Since inception (December 2003), Hercules has committed more than $4.2 billion to over 270 companies and is a lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.

The Company’s common stock trades on the New York Stock Exchange under the ticker symbol “HTGC.”

In addition, Hercules has two outstanding bond issuances of 7.00 percent Senior Notes due 2019—the April 2019 Notes and September 2019 Notes—which trade on the NYSE under the symbols “HTGZ” and “HTGY,” respectively.

Companies interested in learning more about financing opportunities should contact info@htgc.com, or call 650.289.3060.

About CareCloud

CareCloud is the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping thousands of physicians to increase collections, streamline operations and improve patient care in over 48 states, and currently manages over $3 billion in annualized accounts receivables on behalf of its revenue cycle management clients. To learn more about CareCloud, please visit www.carecloud.com.

June 26, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Availity Acquires RevPoint, Adds Patient Access Capabilities to Revenue Cycle Suite

Transaction addresses demand for improved reimbursement management tools; simplifies “up-front” payment processes for providers and their patients

JACKSONVILLE, Fla.–(BUSINESS WIRE)– Availity, one of the nation’s leading health information networks, today announced it has acquired Nashville, Tennessee-based RevPoint Healthcare Technologies, an innovative provider of revenue cycle tools that increase patient collections at the beginning of the revenue cycle process.

Russ Thomas, Availity CEO (Photo: Business Wire)Russ Thomas, Availity CEO (Photo: Business Wire)

Unlike traditional collection tools developed to support the end of the revenue cycle, the RevPoint solution focuses on the front office – where it matters most – enabling an increase in patient payments before the patient visit. The acquisition expands Availity’s ability to satisfy one of the provider market’s top pain points: more timely and consistent cash flow. Improved cash flow is especially critical as the popularity of high deductible health plans means more of the payment responsibility moves to patients, and thus physicians, to ensure timely payment. The acquisition also accelerates Availity’s reach into the hospital and health system sectors, while deepening its capabilities to meet the demands of an evolving revenue cycle.

“Health care is transforming quickly, and with it the revenue cycle process is changing dramatically for providers,” said Russ Thomas, Availity CEO. “With patient financial responsibility on the rise, a wave of new payment models in the market, and increased pressure to reduce operating costs, providers must be able to accelerate their patient collections earlier to maintain a healthy cash flow. The tools developed by RevPoint make that possible by facilitating an integrated and automated workflow for up-front patient collections, enabling us to deliver an even more powerful solution to our customers.”

Availity’s deep expertise in provider workflows supporting the billing and reimbursement processes will be enhanced with RevPoint’s experience in early-cycle reimbursement, enabling Availity to offer customers enhanced patient access tools for improving business performance.

“We are very excited about joining Availity,” said Hal Andrews, Chief Executive Officer for RevPoint. “Their relentless focus on delivering high-value solutions that simplify the provider revenue cycle is a perfect complement to RevPoint’s capabilities. Coming together with them is a real win for both our companies and our customers.”

RevPoint will operate under the Availity brand as part of its revenue cycle management suite of solutions and will continue to be run out of Nashville. “We look forward to building a strong presence in the Nashville market, which has been a hub of innovation and leadership in health care,” said Thomas.

Brentwood Capital Advisors LLC served as the exclusive financial advisor to RevPoint in this transaction. Terms of the arrangement are not being disclosed.

June 2, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Quintiles Announces Agreement to Acquire Encore Health Resources

Acquisition Will Bolster Quintiles’ Expertise in Health-Information Analytics Services and Create Foundation for Expanded Services Suite

RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–As part of its continued efforts to strengthen and expand its service capabilities across the healthcare continuum, Quintiles today announced that it has signed an agreement to acquire Encore Health Resources (Encore). Encore is a leader in the health-information analytics and technology services industry focused on healthcare providers. Through its consulting services and solutions, Encore assists customers with a wide range of strategy, advisory, implementation, process-redesign, optimization, analytics and performance-improvement initiatives.

“Today’s announcement signifies the increasing importance of leveraging EHR and real-world information to inform our customers and improve their probability of success”

Founded in 2009, Encore has more than 300 employees located throughout North America, including approximately 250 consultants. Its primary business is focused on implementation and advisory services around electronic health records (EHR). The addition of these capabilities will enhance Quintiles’ EHR expertise, which is becoming increasingly important as biopharmaceutical customers, payers and providers focus on measuring outcomes based on real-world performance in terms of clinical effectiveness and value.

“Today’s announcement signifies the increasing importance of leveraging EHR and real-world information to inform our customers and improve their probability of success,” said Tom Pike, chief executive officer at Quintiles. “Encore has significant EHR expertise, strong relationships with many large U.S. provider networks and academic medical centers as well as experienced consultants, proven tools, and methodologies. It will be a key strategic addition for our business that will extend our services suite and allow us to work with Encore to strengthen its provider-focused solutions.”

Biopharmaceutical companies are increasingly interested in the “real-world” outcomes associated with their medicines to enable optimal market access. Encore’s expertise with hospitals and hospital information will help Quintiles extend its service offerings meaningfully for biopharmaceutical companies.

By joining Quintiles, Encore will be able to leverage Quintiles’ breadth and depth of capabilities as well as its global scale to accelerate Encore’s vision of enhancing clinical outcomes through data-driven performance improvement. Additionally, Encore can utilize the expertise of Quintiles’ 950 medical doctors, 900 Ph.D.’s, as well as its nurse educators and world-class biostatisticians to help hospitals and providers solve their most pressing population health challenges.

“Today is the beginning of an exciting new chapter for Encore,” said Dana Sellers, chief executive officer, Encore. “Encore was founded with a focus on driving value through data to improve performance and clinical outcomes. I believe that this focus and our vision for the future align well with Quintiles. We will be joining a global leader, and we look forward to working together to help deliver further advancements in healthcare.”

The transaction, which is subject to standard and customary closing conditions, is expected to close later this quarter. Upon completion of this transaction, Encore will join Quintiles’ Integrated Healthcare Services segment and be known as “Encore, A Quintiles Company.”

Financial terms of the transaction are not being disclosed. The acquisition is not expected to have a material impact on Quintiles’ 2014 earnings per share.

About Quintiles

Quintiles (NYSE: Q) is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 29,000 employees conducting business in approximately 100 countries. We have helped develop or commercialize all of the top-50 best-selling drugs on the market. Quintiles applies the breadth and depth of our service offerings along with extensive therapeutic, scientific and analytics expertise to help our customers navigate an increasingly complex healthcare environment as they seek to improve efficiency and effectiveness in the delivery of better healthcare outcomes. To learn more about Quintiles, please visit www.quintiles.com.

May 12, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.

Ten startups launch into Sprint Mobile Health Accelerator powered by Techstars in Kansas City

World-class accelerator program tackles wellness, chronic illness, animal health and big data

OVERLAND PARK, Kan. – March 12, 2014 – Ten mobile health-related startup teams from across the country and Australia have arrived in Kansas City to build and strengthen their businesses in the inaugural Sprint Mobile Health Accelerator powered by Techstars. The three-month intensive mentor-driven program, located in Kansas City’s Crossroads District, officially kicks off this week.

Sprint (NYSE:S) has partnered with Techstars to bring the world-class accelerator program to Kansas City as part of its ongoing activities to help grow the region’s already vibrant startup community.

The Sprint Mobile Health Accelerator powered by Techstars will provide entrepreneurs in this field an amazing advantage to hone their business strategies and structure and be mentored by leading technology experts from Sprint, regional health care leaders and successful entrepreneurs from around the country.  Each startup receives up to $120,000 in funding. The program culminates in June when the 10 companies will pitch to an audience of investors and business leaders from around the U.S. and the Kansas City community.

“The quality of the companies in our Sprint Accelerator program is outstanding,” said Kevin McGinnis, vice president-Pinsight Media+, a division of Sprint, who has taken a leadership role in expanding and strengthening the company’s work with startups. “Sprint is proud to be part of the innovation movement in the healthcare space. The impact these companies can have on so many people in both the technology and healthcare industries is tremendous. On behalf of Sprint, the life sciences and entrepreneurial communities in the region, I welcome the teams!”

Teams participating in the Sprint Mobile Health Accelerator powered by Techstars are developing solutions that encompass hardware, software platforms, transformative services, big data and mobile applications. The teams are:

Company Hometown
Akibah San Jose, Calif.
Fitbark New York
Lifeline Response Chicago
Medicast Palo Alto, Calif.
Ollo Mobile Brisbane, Australia
Prime San Francisco
Sickweather Baltimore
Symptom.ly Salt Lake City
Tenacity Health Boston
Yosko Cambridge, Mass.

 

“The Sprint Accelerator is the first mobile health-focused accelerator for Techstars, and we are thrilled to be in Kansas City bringing together these 10 startups to collaborate and grow over the course of the next three months,” said David Cohen, founder and CEO of Techstars. “The mix of entrepreneurs and the strong roster of mentors – Techstars, Sprint and the health care community – promise to make this a truly great program. We believe that these companies have a chance to make a positive impact on the lives of so many.”

About Sprint

Sprint (NYSE: S) offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served more than 55 million customers at the end of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years. Sprint has been named to the Dow Jones Sustainability Index (DSJI) North America in 2011, 2012 and 2013. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.

March 12, 2014 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 13 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit.