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Medsphere Systems Corporation and Stockell Healthcare Systems have signed an agreement to merge the two companies, uniting under one banner the subscription-based electronic health record (EHR) system and a suite of revenue cycle management (RCM) tools.
The transaction is expected to officially close later this month. Upon closing, Stockell will become a division of Medsphere.
"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.
"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."
Stockell founder and CEO Rick Stockell, added: "Every healthcare IT company is looking to fill gaps in functionality, and with this union both Stockell and Medsphere become whole. Both divisions continue to develop and enhance the overall system, of course, but the combination of comprehensiveness and affordability we can now offer hospitals is exciting and unique.
"I see stories every day about hospitals laying people off because of an EHR purchase. We are offering exactly the contrary experience, and we’re confident hospital leaders will see the benefit quite clearly."
Medsphere Systems Corporation, Stockell Healthcare Systems, Revenue cycle management, RCM, Electronic health record, Rick Stockell, Irv Lichtenwald, US