HOUSTON – Prognosis Health Information Systems has announced its acquisition of Springfield, Mo.-based Creative Healthcare Systems, which develops MedGenix, a financial management and patient accounting system.
Officials say the deal, expected to close later this month, is aimed at offering hospitals an integrated, comprehensive computing solution that can improve clinical care and financial operations. Financial terms were not disclosed.
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Prognosis HIS addresses the needs of critical access and community hospitals with its ChartAccess Comprehensive EHR. With this system, many hospitals have moved from project kick-off to go-live in just 120 days, putting them on track for meaningful use attestation, officials say. Several hospitals have already leveraged the Web-native system, which offers built-in analytics and health information exchange (HIE) capabilities, to qualify for incentive funds.
With this merger, the addition of MedGenix will enable Prognosis to add 18 revenue management modules, including patient accounting, accounts payable and A/R collection tools to its portfolio. MedGenix offers a single unified patient statement with information from inpatient, outpatient and long-term care providers.
“Hospitals today – both big and small – are seeking to implement comprehensive, enterprise-wide solutions that can help them optimize both their clinical and financial operations,” said Jay Colfer, Prognosis' executive vice president of client solutions. “With this acquisition, Prognosis will be able to do just that. As a result, hospitals don’t have to worry about multiple systems, multiple contracts and multiple integration issues. Instead, they can simply implement our comprehensive system.”
Steve Everest, current CEO of Creative Health Systems, will lead all revenue management operations as the companies come together under the Prognosis brand. All existing staff members will retain their positions and continue to be based in Springfield, Mo.
Upon the deal's completion, Prognosis will quickly add its easy-to-use graphical interface to the MedGenix applications, making for a seamless user experience, officials say. The revenue management team will be expanded to support anticipated growth in the financial arena.
[See also: Bates Memorial Hosptial selects MedGenix Financial Information System.]
“Becoming a part of Prognosis better positions us to truly meet hospitals’ needs and better serve the healthcare industry," said Everest. "We can now provide the complete solution under the Prognosis brand going forward. Hospitals will be able to take advantage of our financial applications without having to worry about looking for and supporting a separate EHR. Plus, with the expanded resources, we will be able to more quickly meet customer needs.”
“We started this company with the intention of creating powerful solutions that would make the dream of electronic health records a reality for all providers, regardless of size,” added Ramsey Evans, CEO of Prognosis. “We’ve been extremely successful in the clinical realm but have realized that with a challenging economy and health reform, hospitals need to make a concerted effort to focus on revenue management improvement. With this acquisition, we are giving hospitals the power to experience both financial and clinical success.”
