Spring Medical seeks series A capital funding
Spring Medical Systems, a Houston-based provider of software solutions for small and medium-sized medical practices, has retained Growthink, an investment banking and business development services firm, to raise $5 million in Series A capital. Spring Medical, whose flagship offering is the SpringCharts family of electronic health record products, has seen a 91 percent increase in growth since 2006, according to Growthink officials. Spring Medical CEO Jack Smyth attributed the company’s success to its physician clients, who “have become angel investors in our company – helping to contribute to the strong growth and market demand for our EHR solution.”
SAP announces acquisition of business objects
Two major players in the global healthcare industry have joined forces. SAP, of Walldorf, Germany, has made a cash offer of approximately $6.8 billion to acquire Business Objects, a Paris-based provider of business intelligence software to roughly 44,000 customers. SAP provides its business software, including the NetWeaver enterprise SOA platform, which is used in healthcare facilities for processes like patient and benefits administration, to 41,000 clients in 120 countries. Business Objects will operate as an independent firm under the SAP Group.
ISO, healthcare insight join to fight fraud, abuse
Jersey City, N.J.-based ISO has announced that it has acquired HealthCare Insight, LLC, a Sandy, Utah-based company whose solutions enable healthcare claims payers to detect and prevent fraud, abuse and overpayment. HealthCare Insight combines automated modeling and profiling of claims with clinical validation, referring all suspect claims and billing patterns for review by a panel of registered nurses, physicians, dentists and other clinicians skilled in coding and reimbursement decisions.
Softlight development offers Manage My Practice
SoftLight Development of Irving, Texas has unveiled Manage My Practice, a pay-per-use application that integrates medical practice management software into a user-friendly interface for medical offices and practice management firms. The service includes full-featured patient scheduling and document management capabilities as well as a complete billing solution, with on-screen billing, automatic checks and alerts for invalid coding and electronic bill scanning for non-EMR clinics.