Here are five things to know about the transaction.
1. As part of the transaction, Stockell will become a Medsphere division, the companies said via news release. Stockell will keep its name.
2. The transaction expands the relationship between Medsphere and Stockell, as the companies have collaborated before.
3. Medsphere President and CEO Irv Lichtenwald said, “We’ve collaborated several times on previous implementations, so this really seemed like a natural and very beneficial evolution of the relationship.”
4. He added, “The integration of [Medsphere’s] OpenVista [EHR] clinicals and [Stockell’s] InsightCS revenue cycle has already created a system that dramatically improves operational efficiency and the bottom line for our clients. We’re confident that subscription-based pricing and improved billing through an integrated RCM system will mitigate the financial impact of a large healthcare IT purchase.”
5. The companies expect the transaction to close later in October.
More articles on healthcare finance:
Dignity Health’s operating loss widens to $66.8M with loss of state provider-fee revenue
Proposed changes to CJR model will cost Medicare $90M over next 3 years
Where to invest $10k right now? Chinese hospitals, says one fund manager
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
