athenahealth Acquires Atlanta based EHR provier RazorInsights to enter hospital inpatient market.
Cloud based ambulatory EHR provider athenahealth announced today it is entering the hospital inpatient market with the acquisition of RazorInsights, a cloud-based electronic health record (EHR) and financial solutions for rural, critical access and community hospitals. athenahealth plans to leverage RazorInsights’ inpatient expertise and technology to extend its presence into the 50-bed-and-under inpatient care environment, which accounts for approximately one-third of the U.S. hospital market. The acquisition builds upon athenahealth’s established dominance in the ambulatory space, where it serves more than 59,000 health care providers and has achieved Best in KLAS recognition for its revenue cycle management, EHR, and patient engagement services.
“What we want – and what providers need – is to be able to follow the bouncing ball from the doctor’s office to wherever care goes and capture and coordinate that care. With the acquisition of RazorInsights, we are following that ball into the inpatient hospital space – one we have not entered to date,” said Jonathan Bush, chairman and CEO, athenahealth.
“We have watched and respected RazorInsights over the years as they built an electronic health record and sold it into more than 20 small hospitals across the country. Like us, they started off as a company with roots and a mission tied to supporting the needs of independent physician practices and medical groups by serving a struggling subset of the health care industry. Together, we will expand that focus and advance connectivity across the continuum of care.”
athenahealth plans move about 25 members of the RazorInsights team from their office in Kennesaw, GA to athenahealth’s neighboring office at Ponce City Market in Atlanta, Georgia. Afterwards, the athenahealth will then start building physician inpatient workflows into their cloud-based network and integrate their athenaClinicals EHR workflow into RazorInsights.
“Just like documenting an office visit, physicians on the athenahealth network will soon be able to document a bedside visit, too. RazorInsights clients can look forward to a streamlined workflow and access to knowledge that helps them better make care decisions,” said Bush. And all of our clients can look forward to increased network knowledge, improved ability to streamline operations and enhanced care coordination. By extending the reach of our cloud-based platform to support inpatient care, we hope to advance our capability to fully enable health information to follow patients across all care settings.”
5 Reasons Why athenahealth Acquired Razorinsights
athenahealth expects the addition of RazorInsights to bring many advantages and synergies to complement and extend athenahealth’s presence across the health care market. athenahealth identified the following five reasons for the Razorinsights acquisition:
1. Strong Customer Base – RazorInsights has deployed its solutions across 25 leading health care provider organizations and has presence in 15 states.
2. Leadership in Meaningful Use Attestations – RazorInsights is among the first in the nation whose clients have achieved Stage 2 Meaningful Use–something less than 35 percent[ii] of hospitals could claim as of December 2014. RazorInsights also achieved 100 percent client attestation for Meaningful Use Stage 1.
3. Complementary and Award-Winning Cloud Model – RazorInsights’ cloud-based, open platform will allow athenahealth to integrate and build innovations and workflow processes to serve its growing client base. RazorInsights’ EHR has been recognized on the Medical Economics Top 50 EHR list, as CIO Review’s “20 Most Promising IT Vendor Solutions,” and with a Fierce Innovation Award fromFierceHealthcare.
4. Increased Network Knowledge – By extending the reach of athenahealth’s national cloud network to support new market segments, athenahealth expects to broaden its scope of network insights and domain knowledge, and thereby improve its ability to streamline operations and enhance care coordination for current and future clients, as well as enable health information to follow patients across all care settings.
5. Talented Team – RazorInsights brings a dedicated, talented team whose health care knowledge and expertise has established the company as a leader in the rural, critical access and community hospital market. Located in Kennesaw, Georgia, the RazorInsights team will make a natural and complementary addition to athenahealth’s growing Atlanta office.