Watertown, Massachusetts-dependent athenahealth announced on Wednesday that its Centricity Business will be rebranded as athenaIDX.
WHY IT Issues
The technology, accessible as an on-premise or cloud-based revenue cycle management product, is aimed at assisting hospitals, overall health units, large procedures and billing providers better align their money techniques for the period of price-dependent reimbursement.
Its new title will come two decades just after athenahealth was acquired for $5.7 billion by Veritas Cash and merged with Veritas-owned Virence Well being, which by itself was renamed from the worth-dependent treatment team of GE Healthcare when it was acquired by Veritas.
Centricity, of program, was a main product or service of GE Healthcare. But its roots are a great deal further, getting been very first made as an RCM product by Burlington, Vermont-based mostly IDX Programs Company (which was obtained for $1.2 billion by GE in 2006) extra than 50 percent a century back.
The new athenaIDX identify is a nod to that heritage, and aligns the put up-acquisition Virence and athenahealth systems into a unified income cycle portfolio – one particular that’s previously in use at wellness programs these as Dignity Well being, Memorial Sloan Kettering Cancer Center and Sharp Health care, as very well as longtime provider-customers, these types of as Baystate Health-related Techniques.
Athenahealth also declared two connected rebrandings: athenaEDI (formerly Centricity EDI Services), which allows combine workflows for eligibility, statements and remittance details into athenaIDX, and athenaIDX for Team Management (formerly Centricity Group Administration).
THE More substantial Craze
The rebranding, of training course, is just the most the latest in a very long collection of improvements for athenahealth because it first attracted the consideration of activist trader Elliott Administration in 2017.
After the Veritas acquisition and Virence merger were completed in 2019, athenahealth CEO Bob Segert spoke with Health care IT Information about the firm’s go-ahead tactic immediately after a bumpy couple many years.
Specially, he spoke of the integration of legacy Centricity engineering into athenahealth’s possess product or service traces.
“I genuinely do believe there is a case listed here wherever one particular moreover one particular is well worth a lot more than two,” explained Segert. “Athenahealth is a historically SaaS-based platform, exceptionally concentrated on entrance-door medicine: the internist, the key care physician, OB/Gyn, pediatricians – and then shifting more and far more towards specialty-dependent workflows and specialty apply parts. All on a quite dynamic SaaS platform.”
Distinction that, he explained, to Centricity, “which concentrated on some of the greater multispecialty methods, and had a whole lot more concentrate on the healthcare facility and acute treatment market place, specifically with regard to revenue cycle management, with a application system that was on-prem program or hosted.”
Add athenahealth’s present strengths to “the central billing business abilities that exist in the Centricity business RCM system, significantly all over the clinic area, and you have a rather dynamic portfolio,” said Segert.
ON THE History
“athenaIDX has been helping clients accelerate earnings reimbursement and make improvements to profitability for much more than 50 many years,” mentioned Paul Brient, chief product officer of athenahealth, of the freshly-renamed Centricity merchandise, noting that its automatic workflows “proactively push problems to revenue cycle team [and] enable them to shift attempts from researching program issues to solving complex troubles.
“This translates into decrease price tag-to-collect, a lot quicker speed-to-cash and the reaction times wanted to aid efficient, productive billing workflows,” said Brient. “Aligning the merchandise portfolios allows us to efficiently execute on our street map and assist our eyesight to produce a thriving ecosystem that delivers available, high-quality and sustainable health care for all.”