Expansion Makes Netsmart the Largest Technology Company Focused Exclusively on Human Services and Post-Acute Care
New venture adds home care solution to expand integrated care platform
Overland Park, Kan., March 23, 2016 – Netsmart today announced a new venture with GI Partners and Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) as investors. As a part of the venture, Netsmart will merge the Allscripts HomecareTM business unit into the Netsmart CareFabric® suite of solutions, enabling Homecare clients to leverage Netsmart's broad range of solutions, services, and investments in business efficiencies, clinical innovation and care coordination. Also as a new investor in Netsmart, GI Partners will provide investments and resources that will allow Netsmart to more rapidly accelerate ongoing expansion into the evolving integrated healthcare technology sector.
The addition of the home care business unit firmly establishes Netsmart as the largest human services and post-acute technology provider in healthcare. Netsmart will now serve more than 24,000 home health, private duty, hospice and human services organizations, including more than 500,000 care providers.
The Homecare solution combines business, clinical and scheduling functionality for home health, hospice and private duty, automating processes from engaging in care for patients to billing and accounts receivables. It serves as a fully integrated home care solution for large home care organizations and small home care companies nationwide.
“Over the last five years, Netsmart has invested heavily in new product development, enhanced our technology and cloud capabilities, grown our support and client organizations and started several new add-on businesses to complement existing offerings,” said Netsmart CEO Mike Valentine. “As a result of these and other initiatives, Netsmart revenues, client counts and the number of associates working for the company have all nearly tripled.”
“This new venture marks the next phase in our strategy to provide our clients with broader-based capabilities at a time of unprecedented change,” said Valentine. “The requirements for organizations using the Homecare solution align well with the capabilities we provide to our current client communities – solutions that go beyond the basic electronic medical record like cloud services, revenue cycle management, data analytics, care coordination and consumer engagement technologies.”
“Netsmart is a long-time leader in delivering technology solutions in the human services sector,” said Carl Clark, M.D., president and CEO of the Mental Health Center of Denver. “I see this move as a continuation of the expansion and refinement of their solutions that will, in turn, bring benefit to all of the parts of healthcare that they serve. We’re committed to treating the whole person when and where they need care. That can only be accomplished through the complete integration of the entire care process for
a person. I see this as a step towards creating the technology platform necessary to enable that new world.”
“This is a major new phase in the journey for Netsmart,” said Valentine. “Netsmart 1.0 was about creating solutions for behavioral health. Netsmart 2.0 was about creating breadth and depth in our solutions and services – and serving all of human services. This next phase, Netsmart 3.0, is about growing our platform to serve all the parts of healthcare that traditionally sit outside the four walls of hospitals and physician practices. This part of healthcare represents over $400 billion in spend in the U.S. today. It’s a huge opportunity to fill a gap to make all of healthcare come together – and as a company, we are ready to take it on.”
Netsmart provides technology and expertise to help health and human services providers deliver effective, outcomes-based services and care to more than 25 million persons nationwide. Netsmart clients include 500,000 users in 24,000 in organizations across all 50 states. Netsmart clients include mental health and addiction services agencies, health homes, psychiatric hospitals, private and group mental health practices, public health departments, social services, child and family services agencies, home care, managed care organizations and vital records offices.
Netsmart’s CareFabric®, a framework of innovative clinical and business solutions and services, supports integrated, coordinated delivery of health services across the spectrum of care.
Netsmart’s HIT Value Model™, a vendor-agnostic planning and measurement system, provides a path for health and human services organizations to evaluate where on the healthcare IT spectrum they should focus their efforts, the value associated with that strategic decision and a comparison with peer organizations nationwide.
Netsmart is pleased to support the EveryDayMatters® Foundation, which was established for behavioral and public health organizations to learn from each other and share their causes and stories. For more information, visit www.everydaymatters.com
HIT Value Model is a trademark of Netsmart Technologies, Inc.
CareFabric and EveryDayMatters are registered trademarks of Netsmart Technologies, Inc.
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