Healthcare technology company Netsmart will acquire home health and hospice businesses from one of the world's largest health care companies Change Healthcare. The acquisition is expected to solidify the position of Netsmart in post-acute technology and services as company will integrate the Change Healthcare Homecare Advisor and Hospice Advisor solutions with its CareFabric solutions. The transaction is expected to close in the second quarter of 2018.
“With the Change Healthcare home care and hospice team and their solutions, we are adding deep domain knowledge to our team, which is key for us to continue to move at the speed in which healthcare is consistently changing. Upon close, we will begin immediately to integrate the Change Healthcare Homecare Advisor and Hospice Advisor solutions with our CareFabric solutions. This will allow clients to use our health information exchange (HIE), analytics, referral management and mobility solutions,” said Netsmart CEO Mike Valentine.
Homecare Advisor and Hospice Advisor increase clinician satisfaction and efficiency, providing more time to focus on patient care. The financial solutions help ensure documentation compliance and shorten revenue cycle times, and the easy-to-use insights and data enable organizations to focus on improved financial, clinical and operational performance.
“We are the largest IT company exclusively serving community-based providers in healthcare,” said Valentine. “Two years ago we entered the post-acute space and since then, we have been laser focused on applying the extended solutions and services that have helped advance our behavioural health and human services clients to the home care and hospice space. Coming into 2018, we have some really solid proof points which support our belief that post-acute providers need more than just a traditional EHR to be successful.”
“Since joining the Netsmart family when our home care solution was acquired, we've seen a dramatic improvement in enhanced features and functionality along with a client experience model that makes me feel more connected and aligned,” said David Lafferty, EVP and CIO of Tidewell Hospice. “For our organization, two key priorities are interoperability with other community providers and better analytics to help focus our clinical and financial operations on quality and efficiency. The Netsmart strategy is broader than what we have seen with other healthcare IT providers. This allows us to tackle all of our challenges with a comprehensive unified platform.”
“In addition to this transaction, we see many opportunities to partner with Change Healthcare to leverage their leading software, connectivity and data solutions to bring more capabilities to the community-based provider world, and we have selected Change Healthcare's lab connectivity as our preferred solution of lab orders and results distribution capabilities to the Netsmart network,” said Valentine. “We are actively designing some new solutions that leverage our complementary capabilities and will look to begin launching new offerings later this year.”