Transactions processing vendor NaviNet Inc., which operates Web portals enabling providers to exchange administrative and financial transactions with insurers, has acquired electronic prescribing vendor Prematics Inc. of McLean, Va. Terms were not disclosed.
NaviNet will add Prematics' technology to a platform that, in addition to EDI services, also offers patient portals and integrated ambulatory practice management and electronic health records software.
Formed in 2007, Prematics under its original business model entered into partnerships with insurers to offer e-prescribing software and supporting technologies to physicians. The philosophy was to make it easy and free for physicians to adopt e-prescribing by having the vendor absorb initial costs and recoup the costs from insurers. The company gives physicians the software, a server, PDAs, printers, a wireless network and Internet service necessary to adopt electronic prescribing. Sponsoring insurers--which can send physicians messages about gaps in care or medication non-adherence along with routine information on drug interactions and formulary compliance during the e-prescribing process--reimburse Prematics via transaction fees over a multi-year period.
But the concept did not take off, even following a mid-2008 investment by Health Evolution Partners, a private equity firm led by David Brailer, M.D., former national coordinator for health information technology. Terms were not disclosed, but the firm at the time was looking for investments of $10 million to $80 million. Today, Prematics serves about 3,600 physicians.
NaviNet will directly sell Prematics' e-prescribing services to providers and continue to offer the sponsored model to insurers.
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