The acquisition will combine DocSite's clinical decision support and performance management technology with Covisint's platform-as-a-service model, Covisint ExchangeLink.
Slideshow: RFID In Healthcare
(click image for larger view and for full photo gallery)
Data exchange network provider Covisint announced on Monday that it has acquired DocSite, a clinical decision support and quality performance management company. The acquisition further extends Covisint's footprint in the healthcare sector as customers upgrade their health information technology infrastructure and implement electronic health records (EHRs)
Covisint, a Compuware company based in Detroit, Mich., has been steadily growing its healthcare business and said the acquisition will combine DocSite's clinical decision support and performance management technology with Covisint's platform-as-a-service model, Covisint ExchangeLink. Together, the pairing will bring key solution options to market for the exchange, use and analysis of patient and population information. Additionally, this cloud-based solution works with physicians' existing IT investments and complements existing workflows in either paper- or electronic-based settings. The offering will be immediately available to the more than 68,000 caregivers already on the Covisint platform, while positioning Covisint to win future business.
"The writing is on the wall: the U.S. healthcare system now demands outcome-based care, and this visionary acquisition positions Covisint as the leader in this space for years to come," David McGuffie, Covisint's president and COO, said in a statement. "DocSite meets and exceeds the needs of doctors, hospitals and health systems in providing interconnected care, quality management and reporting -- all of which helps physicians and hospitals obtain needed stimulus monies in today's competitive, pay-for-performance environment."
Covisint's executives also said adding DocSite's point-of-care decision support, population management, quality and pay-for-performance reporting solutions will give customers an advantage as they demonstrate that they are meaningfully using technology to improve patient care, which is a requirement to apply for reimbursements under the electronic health record (EHR) incentive programs. The company hopes this will in turn give Covisint a competitive advantage in winning large, state Health Information Exchange (HIE) and other contracts related to the secure access and exchange of health information.
"Covisint's acquisition of DocSite is the right solution at precisely the right time, particularly in today's healthcare world of strategic, health information sharing initiatives that demand effective care, quality measurement and IT adoption," Dr. John Haughton, founder, chairman and chief medical information officer for DocSite, said in a statement. "This potent set of care, quality and measurement tools--combined with Covisint's industry standard ExchangeLink(TM) platform -- addresses the key needs in today's market, Beacon and PQRI requirements and will evolve for years to come for physicians and health systems."
The all-cash transaction closed on September 17, 2010. The majority of DocSite's employees, headquartered in Raleigh, N.C. will join Covisint.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of October 9, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."