Palm City, Florida and Salem, Utah – May 22, 2017 – Optima Healthcare Solutions, a provider of cloud-based software for post-acute care providers, announced today that it has acquired Hospicesoft, a supplier of cloud-based software for hospices. The transaction moves Optima one step closer to delivering a full suite of modern integrated solutions that span the post-acute continuum of care.
We spoke with CEO Josh Pickus to learn the background. He told us that this acquisition is part of the company's move to offer a complete suite of products for all post-acute provider categories.
Hospicesoft will maintain its operations south of Salt Lake City but Pickus plans to move them to a larger building this year. "The Salt Lake / Provo corridor has become the Silicon Valley of this decade," he said. "As we grow our hospice efforts, we will be able to hire from a rich supply of local expertise."
Hospicesoft Founder Rex Hale will move on once the transition is complete, Pickus added, but the rest of the team will remain intact to continue to develop and support the hospice product, which will eventually be known as "Optima Hospice." "Rex is a serial entrepreneur," Pickus laughed. "He sold us a great company and is probably working on his next venture already."
Pickus added that work began on integrating the hospice product with Optima's home health software before the ink was dry on the agreement. "We are scheduled for our next major version release in July," he added, "and by that time we will have full integration between home health and hospice products." Both products are cloud-based.
Behind the acquisition
Optima Healthcare Solutions was founded in 1992 as a software partner for therapy providers, including institutional and outpatient providers and those that provide contract therapists to home health agencies. The company announced last fall that it had developed a home health EMR at the request of its therapy clients that had expanded into home health. (See HCTR 11/16/16, "From Riding Waves to Writing Code") After lengthy testing in that environment, they declared the product ready for the general home health market.
This acquisition came about in much the same way, Pickus explained, except for the decision to buy rather than build a hospice EMR. "We have had a number of home health clients asking us for an integrated hospice system. They have been using separate EMRs for each care type and wanted to be more efficient. We had been a huge fan of the Hospicesoft product for a long time so they were our first choice partner."
"The talented team at Hospicesoft has built a modern, easy to use application that is beautifully tailored for the needs of hospices," Pickus continued. "We plan to maintain and expand the hospice-specific capabilities of the application, while also integrating it with our home health product and making a complete solution available to agencies that operate in both the hospice and home health arenas. We are especially pleased to bring a company with deep hospice expertise and an outstanding reputation for customer service into the Optima family."
Designed from the ground up for hospice providers, Hospicesoft offers a complete EMR and billing solution that enhances productivity. The solution eliminates the need for hospice providers to deal with OASIS questions, unnecessary fields and cumbersome workarounds common in hospice solutions adapted from home health products. In addition to increasing productivity, the Hospicesoft solution also improves compliance and reimbursement with guided workflows that ensure accurate and complete documentation. Due to its intuitive design and its hospice-specific workflows, the Hospicesoft solution is up and running within 60 days for the vast majority of customers.
Rex Hale, Hospicesoft's founder, said, "I’m delighted that Optima recognizes Utah as a hub for technology talent and plans to maintain Hospicesoft's headquarters and all of its staff. I believe Hospicesoft's customers will benefit from Optima’s greater resources, its modern software development approach, and its relentless focus on providing an amazing customer experience. I’m excited to see the combined company deliver a truly differentiated solution that combines modern cloud-based technology, ease of use and rich compliance-oriented functionality."
Optima is a portfolio company of Alpine Investors V, LP and affiliated funds managed by Alpine Investors (alpine-investors.com).
Optima Healthcare Solutions is a leading provider of cloud-based software for post-acute care providers, including contract therapy companies, skilled nursing facilities, outpatient clinics, home health agencies and hospice organizations. More than 9,000 sites of service entrust Optima to deliver software that improves patient care and enhances business performance.
Hospicesoft provides an easy to use cloud-based solution covering all areas of hospice management. Hospicesoft is headquartered in Salem, Utah.
©2017 by Rowan Consulting Associates, Inc., Colorado Springs, CO. All rights reserved. This article originally appeared in Tim Rowan's Home Care Technology Report. homecaretechreport.com One copy may be printed for personal use; further reproduction by permission only. email@example.com