Medsphere Systems Corporation and Stockell Healthcare Systems today announced an agreement to merge the two companies, uniting under one banner a subscription-based OpenVista EHR system and suite of proven revenue cycle management (RCM) tools. Financial details of the merger was not disclosed and is expected to officially close later this month.
As part of the merger, Stockell will become a division of Medsphere and continue to use the Stockell name. Medsphere and Stockell are well integrated through previous implementations including Southern Inyo Hospital. Stockell’s InsightCS system features a full menu of solution options for managing key revenue cycle touch points, including patient engagement, registration, scheduling, billing, collections, business analytics and reporting. Hospitals and behavioral healthcare providers can significantly cut IT infrastructure and support costs, close functional gaps in processes, reduce costs to collect, maximize upfront self-pay collections, and provide better, more effective patient service.
The announcement marks the latest merger for Medsphere after merging with ambulatory healthcare IT solutions provider ChartLogic last June. In the spring of 2015 the company also joined forces with Phoenix Health Systems.
“We’ve collaborated several times on previous implementations, so this really seemed like a natural and very beneficial evolution of the relationship,” said Medsphere President and CEO Irv Lichtenwald in a statement. “The integration of OpenVista clinicals and 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.”