Medsphere expands its IT and ambulatory reach via mergers
Acquisitions enable hospital clients to achieve better data exchange, says Irv Lichtenwald.
Medsphere Systems, which sells electronic health records to hospitals and their affiliated clinics, has merged with ambulatory vendor ChartLogic, the second merger in recent months for Medsphere.
Terms of the arrangement were not disclosed, but ChartLogic, which retains its name, now is a division of Medsphere. In February, Medsphere expanded its ambulatory technology suite by merging with MBS/Net, which became a Medsphere unit.
The MBS/Net product line includes electronic health record, practice management and document management systems, and it also offers outsourced revenue cycle and practice hardware management services.
Now, Medsphere augments its product line with another set of clinical and financial applications via ChartLogic, which offers billing services, embedded speech recognition and dictation technology—a new product to sell—and a library of specialty vocabularies and templates that ChartLogic says enable a provider to complete a patient record within 90 seconds.
According to the companies, ChartLogic was the first EHR to meet meaningful use Stage 1 requirements; it now is working toward Stage 3 certification.
Medsphere President and CEO Irv Lichtenwald said the company bought both ambulatory vendors to better serve hospitals, which make money by having patients in beds coming from the emergency department or via referrals to a hospital from physicians.
Medsphere, which sells an open source commercialized version of the Veterans Administration’s VistA electronic health records system, “has a history of playing nice with everyone,” Lichtenwald adds. More physician practices under its umbrella will translate to more business and data exchange opportunities for client hospitals.
Medsphere likely will continue to seek out additional application vendors for potential combinations, Lichtenwald suggested.
Terms of the arrangement were not disclosed, but ChartLogic, which retains its name, now is a division of Medsphere. In February, Medsphere expanded its ambulatory technology suite by merging with MBS/Net, which became a Medsphere unit.The MBS/Net product line includes electronic health record, practice management and document management systems, and it also offers outsourced revenue cycle and practice hardware management services.
Now, Medsphere augments its product line with another set of clinical and financial applications via ChartLogic, which offers billing services, embedded speech recognition and dictation technology—a new product to sell—and a library of specialty vocabularies and templates that ChartLogic says enable a provider to complete a patient record within 90 seconds.
According to the companies, ChartLogic was the first EHR to meet meaningful use Stage 1 requirements; it now is working toward Stage 3 certification.
Medsphere President and CEO Irv Lichtenwald said the company bought both ambulatory vendors to better serve hospitals, which make money by having patients in beds coming from the emergency department or via referrals to a hospital from physicians.
Medsphere, which sells an open source commercialized version of the Veterans Administration’s VistA electronic health records system, “has a history of playing nice with everyone,” Lichtenwald adds. More physician practices under its umbrella will translate to more business and data exchange opportunities for client hospitals.
Medsphere likely will continue to seek out additional application vendors for potential combinations, Lichtenwald suggested.
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