Brightree to Invest $80 Million For Home Health Software Expansion
Brightree, a cloud-based clinical, billing and business management software provider, announced Tuesday that it has big plans to expand its technology investments for post-acute care, including home health.
The company plans to invest more than $80 million in its new branding efforts to help its customers overcome pressures brought about by changes such as competitive bidding, increased audits and expanding regulations, said Brightree CEO Dave Cormack in a statement.
“Our new brand emphasizes the bright future we envision enabling out 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,” Cormack said.
As part of its growth plan initiatives, Brightree plans make regulatory investments to help keep its customers ahead of reimbursement changes.
Recently, the company announced that the Centers for Medicare & Medicaid Services had acknowledged and accepted 100% 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 acknowledgement validates Brightree’s ICD-10 readiness so customers can be confident they are equipped to handle the new claim submission and reimbursement demands,” the company stated in a release.
Brightree also said it plans to release tablet-based mobile solutions to supplement its laptop-based mobile solutions for home health and hospice organizations this fall.
Brightree estimates the post-acute areas of home medical equipment (HME), home infusion, home health, hospice and long-term care will collectively double over 10 years, from about $250 billion in 2013 to more than $500 billion in 2023.
“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,” Cormack said.
Brightree is currently exhibiting its application solutions at the Medtrade Spring Conference in Las Vegas this week.
Written by Jason Oliva