by Tim Rowan, Editor
Mediware® Acquires MEDTranDirect™
LENEXA, Kansas—January 25, 2018 — Mediware Information Systems, Inc., a portfolio company of TPG Capital, and the parent company of Kinnser Software, announced this week that it has acquired MEDTranDirect, Inc., a leader in software solutions for healthcare revenue cycle management and an approved network service vendor for Medicare. The company describes the transaction as one that "complements the revenue cycle management and Medicare claims capabilities in Mediware’s leading home care market solution, Kinnser Software®, while simultaneously leveraging Mediware’s heritage of supporting data-driven clinical excellence and improving efficiencies in administrative workflow."
We will feature an extended interview with Mediware CEO Bill Miller in next week's issue.
Established in 1986, MEDTranDirect serves several hundred customers, including providers in the home health, hospice, skilled nursing facility, rehabilitation and rural hospital markets. MEDTranDirect streamlines the submission and processing of providers’ claims to Medicare, Medicaid, and commercial payers, and supports eligibility and remittance transactions, thereby accelerating revenue cycles and improving cash flow. In addition, it is approved to use the Medicare Limited Data Set files to develop analytics solutions for the home health and hospice markets.
MEDTranDirect’s capabilities will eventually integrate with other Mediware software products that collectively provide customers with comprehensive software solutions across the entire care continuum – including home health, hospice, rehabilitation, home infusion, medication management, blood management, and more.
Mediware is a leading supplier of software for healthcare and human service providers and payers. Core Mediware solutions include blood management technologies for hospitals and blood centers; cell therapy solutions for cord blood banks, cancer treatment centers, and research facilities; medication management solutions for hospitals, behavioral health facilities, infusion and specialty pharmacy providers; and rehabilitation therapy and respiratory care solutions.
MEDTranDirect provides SaaS technology solutions for processing and managing HIPAA-compliant healthcare transactions such as eligibility, claims and remittances. MedTranDirect was one of the first approved network services vendors (NSVs), allowing direct access to Medicare’s payments systems, and serves clients in the home health, hospice, skilled nursing, rehab and rural hospital markets.
TPG is a leading global alternative asset firm founded in 1992 with more than $73 billion of assets under management and offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth venture, real estate, credit, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. www.tpg.com
Netsmart Acquires HomeCare Accounting Solutions
Overland Park, Kan., Feb. 1, 2018 – Today, Netsmart announced it has acquired HomeCare Accounting Solutions, a cloud-based software company that automates back-office and clinical field operations of home care agencies such as home health, hospice, palliative care and private duty.
"Post-acute providers have an opportunity to take the lead when it comes to managing a person’s healthcare journey and coordinating the performance of a variety of providers," said Netsmart CEO Mike Valentine. "In a value-based world, providers who can prove they can coordinate care across multiple venues and manage the complexities and outcomes will be well positioned for success. The ability to have a seamless connection between clinical and financial will only make reporting easier as providers can show cost savings correlated with clinical outcomes."
Netsmart announced its acquisition of DeVero in July 2017 and has been deploying enhanced solutions to home health and hospice clients over the last six months. A company notice stated that "the addition of HAS to the Netsmart suite of solutions will enable a more integrated workflow for clients who use our DeVero CareRecord." HAS has been the financial and billing engine behind the DeVero clinical application for several years.
"Clients want a SaaS approach where all of the operations are managed for them so they can concentrate on what they do best: patient care," said HAS CEO Mike DelCollo. "We are looking forward to the deep integration and streamlined processes Netsmart provides and giving our clients one system with a single, simple workflow." In an exclusive, pre-release interview, Mike told us he plans to stay around and continue to enhance his product "as long as they will have me."
As part of this acquisition, Netsmart will further the innovation of the two solutions to create a single unified solution that can grow and adapt as healthcare shifts to different care and payment models. The go-forward platform will maintain focus on the three principles that have made it one of the fastest growing solutions in homecare – simple, scalable and affordable.
"The addition of HAS to our Netsmart family provides our clients who leverage the DeVero CareRecord with a one-stop-shop for clinical and financial solutions," said Valentine. "We have a long-standing relationship with HAS in serving a shared client base. With this step forward, we will essentially move out of the interface world with HAS and into the integration world. Our mutual clients will benefit greatly by this step."
About HomeCare Accounting Solutions
HomeCare Accounting Solutions cloud-based software is a powerful and easy-to-use system that increases the efficiency and productivity of home health agencies. Whether an organization is small or large, HomeCare Accounting Solutions provides the means to manage a business. HAS software automates the back-office and clinical field operations of home care agencies of all types, including: Home Health, Hospice, Palliative Care, Private Duty and other related community-based services.
Netsmart provides electronic health records for care team members in behavioral health, post-acute and social services. Recent acquisitions have added the Allscripts Home Care and Hospice, HealthMEDX, and DeVero software to the company's suite of behavioral health applications. The company employs more than 1,500 associates who serve over 600,000 users in more than 25,000 organizations across the U.S.
©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