Franklin, Tenn. - Passport Health Communications Inc. has purchased N.J.-based STAT Technologies, adding enterprise scheduling to its suite of patient access and payment certainty solutions. The acquisition gives Passport a fully integrated suite of solutions that includes scheduling, eligibility and demographic validation, orders, patient payments, patient self-service, and claims management.
"Scheduling is a natural expansion of the Passport eCare™ NEXT Suite. It enables hospitals to begin revenue cycle functions at the point the order is received from a physician office, and improve coordination when there are different systems between the hospital and outside physician offices. Within a hospital organization it supports coordination of schedules, precertification, and onboarding between all departments, facilities, and silos of patient information, where disparate scheduling tools and other IT systems often exist," said Passport CEO Scott MacKenzie.
Managing all scheduled events with a web-based enterprise system instead of scheduling patients in different IT systems by department staff generates a substantial return on investment, added MacKenzie, because it is part of ensuring a seamless patient transition process and proper payment.
Verifying payer reimbursement and patient out-of-pocket responsibilityprior to delivery of service not only allows the hospital to continue providing the appropriate care at the lowest possible cost, but also improves patient satisfaction with upfront information that helps patients make informed healthcare decisions.
Passport's new enterprise scheduling functionality spans inpatient, outpatient and surgical areas. The integrated workflow and single view fosters a more collaborative working environment between physicians and hospitals, and between departments and facilities, and supports better patient care coordination with new insight into patient logistics.
Strong Market Demand
"There is a current market need to allow physicians to easily schedule a patient into a hospital and have the hospital quickly triage the patient order for proper coverage and payment responsibilities. Different systems between the physician and hospital prevent this from occurring. We hope to bridge that gap," said MacKenzie. "The revenue cycle can begin at scheduling and we want to remove barriers to that happening. Hospitals and physicians can manage all patient scheduling and financial clearance across the community using one solution from one business partner and have it seamlessly flow into their existing HIS systems. It is good for the hospital, good for physicians, and good for patients."
"Passport and STAT are both entrepreneurial organizations with strong cultures focused on innovation, customer service, and customer satisfaction. Together we can bring tremendous value to our clients by providing a simple and effective way to better qualify, manage, and optimize every scheduled event in a hospital network prior to the delivery of service with an offering that improves every element of the process and reduces cost. We look forward to a very bright future at Passport," said Ram Iyengar, CEO and Co-Founder of STAT Technologies.
Portals for physicians and patients are unique features of Passport's web-based, Software-as-a-Service scheduling suite. The physician portal makes it easier and more convenient for referring physicians to do business with the hospital by streamlining orders and appointments without phone coordination.
Integrated Solution Available Now
The Passport eCare™ Suite including scheduling is already available for client delivery.
Passport also has the ability to integrate its Passport eCare™ patient access and payment certainty solutions with other scheduling tools, if clients prefer.
Founded in 1999, STAT Technologies was among the first healthcare technology companies to develop solutions for enterprise scheduling and offers one of the only systems for managing schedules across outpatient, inpatient and surgery areas. The company's innovative solutions include a physician portal for accessing a complete patient chart with lab and radiology orders and results, e-signatures for medical records, charge capture, sign-out notes for physicians, problem lists and other clinical information. A patient portal supports patient self-service, and helps meet Meaningful Use requirements with electronic discharge instructions and summaries.
Financial terms of the deal were not disclosed. Passport executives did say they anticipate additional M&A activity this year as the company responds to increasing market demand for its products and services, and carries out plans for continued aggressive growth.
Passport Health Communications Inc. creates solutions to enable hospitals and healthcare providers to improve business operations and achieve Payment Certainty for Every Patient™. Founded in 1996 and headquartered in Franklin, Tenn., the organization is among the nation's fastest-growing Software-as-a-Service companies. Its Passport eCare™ brand of patient access and payment certainty solutions are delivered to more than 2,000 U.S. hospitals and 8,000 other healthcare facilities in all 50 states.