|By Business Wire||
|March 11, 2014 04:55 PM EDT||
Brightree, the leading provider of cloud-based clinical, billing and business management software solutions for the post-acute care industry, today unveiled at Medtrade Spring in Las Vegas, Nev., its new brand, reflecting the organization’s broadening investment in technology and services across the post-acute care sector of healthcare. Traditionally known for its leadership position in the Home Medical Equipment/Durable Medical Equipment (HME/DME) market, Brightree is extending its investments in hospice, home health and infusion solutions, as well as in surrounding services – such as patient and private payments, revenue cycle management (RCM), portal-based ordering systems and referral acceleration and management relationships – to enable HME/DME businesses to expand and diversify their revenue streams and to attract new customers in other post-acute care disciplines into the Brightree community.
“Brightree customers are forward-thinking leaders who want to grow and diversify in this time of escalating change in healthcare,” said Dave Cormack, CEO of Brightree. “Our new brand emphasizes the bright future we envision enabling our customers to create as we make the right strategic investments to simplify and accelerate the flow of information, documents, work streams, resources and payments among patients, providers and payers – whether government, commercial, private or patients – across the healthcare continuum.”
Added Cormack, “Over the next four years we plan to invest more than $80 million in realizing this vision so that our customers can not only overcome revenue pressures brought about by changes such as competitive bidding, increased audits and expanding regulation, but also to ensure that they can capture a greater share of the opportunities post-acute care presents for radically improving costs and outcomes in our healthcare system.”
Based on data from the Centers for Medicare & Medicaid Services (CMS), Brightree estimates the post-acute areas of HME, home infusion, home health, hospice and long-term care will collectively double in spending over 10 years, from about $250 billion in 2013 to more than $500 billion in 2023, even with cost-containment measures in place.
“Our goal is to help Brightree customers capture the greatest share of that growth by equipping them with the broadest array of software, services and professional expertise targeted to their specific needs,” continued Cormack. “Brightree’s 30 percent growth over the last year has put us in a strong position to invest even more in our customers’ success, while continuing to grow aggressively in 2014 and beyond.”
Some initiatives that are part of Brightree’s growth plan include:
- Regulatory investments to keep Brightree customers ahead of reimbursement changes. On Monday, Brightree announced the CMS had acknowledged and accepted 100 percent of Brightree test claims coded to the new ICD-10 standard as part of a national testing program to prepare providers for the October 2014 change. The early acknowledgment validates Brightree’s ICD-10 readiness so customers can be confident they are equipped to handle the new claim submission and reimbursement demands. This investment is just one of many regulatory-based enhancements Brightree is making to keep customers ahead of market changes.
- Revenue Cycle Management. The company is evolving its former Billing Services group to deliver a portfolio of Revenue Cycle Management (RCM) solutions that will help customers improve profitability and cash flow from intake to collection. Part of this evolution involves a strategic business relationship with Access Healthcare, a leading provider of business process outsourcing in the healthcare market, to deliver cost-effective, “behind-the-scenes” predictive administrative and workflow management tasks on a broader scale. Brightree’s RCM account managers and analysts will continue to provide direct customer-facing services and support, as well as advise customers on ways to improve and manage cash flow.
- Private and Patient Payments. Private-pay billing and collection solutions delivered through Strategic AR (acquired by Brightree in January 2014) enable providers to engage patients upfront to collect co-payments and retain credit card information on file for re-orders. Integration with the provider’s billing systems of record further automate business processes and reduce the time and effort associated with patient collections.
- Referral Acceleration and Management. Through a new relationship with athenahealth, Brightree’s network of providers now has direct and instant access to referrals from the more than 18,000 physicians using athenaClinicals® and athenaCoordinator®, cloud-based services for electronic health records (EHR), practice management and care coordination.
- ePurchasing Partnerships. The company is investing in strategic relationships with McKesson, ResMed, Independence Medical and other manufacturers and distributors to help customers streamline ordering by accessing electronic purchasing directly through the Brightree system interface.
- Mobile Healthcare. As patient counts grow across post-acute settings, the need to service patients “where they are” through a more diversified workforce that includes both clinical health workers and non-clinical patient care aides is expanding. Add to this the increased regulation and compliance demands being placed on home health and hospice organizations, and the necessity for mobile technology to underlie best practices and protect reimbursements is clear. Brightree plans to release tablet-based mobile solutions to augment its laptop-based mobile solutions for hospice and home health organizations this fall.
Brightree will be exhibiting its application solutions in its Booth #1018 at the Medtrade Spring Conference on March 10-12 in the Mandalay Bay Convention Center in Las Vegas, Nev. The company also will be presenting a conference session on “How to Get Your Inventory In Shape” on Wednesday, March 12, from 8:30 to 9:30 a.m. PT.
Brightree is the leading provider of cloud-based software for the post-acute care industry. Our 500 team members serve more than 3,000 companies in the HME, home health, hospice, O&P, HME pharmacy, home infusion and rehab home care segments. Brightree's unique SaaS software solutions follow the natural workflow of providers to automate and improve how they manage their businesses. The company is ranked as one of the top 100 healthcare IT companies in the U.S. on the prestigious Healthcare Informatics 100 (HCI 100) list. For further information, visit www.brightree.com or call 1.888.598.7797.
Brightree is a registered trademark of Brightree LLC.
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