Athenahealth knows that managing physician practices can result in a splitting headache, especially when patients are late paying bills or miss appointments. The company provides health care organizations with software for cloud-based electronic health record (EHR), care coordination, and patient communication services. Offerings include revenue cycle management, medical record automation, and patient relations and referral systems. Its services help health care providers streamline workflow, data, and billing and collection tasks. Many of Athenahealth's programs are gathered in its athenaOne suite of integrated, network-enabled services. In 2019, Veritas Capital acquired athenahealth for about $5.7 billion.
Change in Company Type
Athenahealth was bought by Veritas Capital for about $5.7 billion in 2019 and taken private. Veritas combined athenahealth with Virence Health, which Veritas acquired in 2018. The combined business became a healthcare information technology company with a national provider network of customers.
Athenahealth provides services related to electronic health records, medical billing, patient engagement, population health, and care coordination. The company's mobile application, Epocrates, provides information to medical professionals in the decision-making process.
The company's medical billing helps customers manage claims management, appointment scheduling, checking in patients, and reporting performance.
Population health applications offered by athenahealth help customers with data, care-team coordination, care gap identification, and network-based knowledge.
Besides taking athenahealth private, Veritas Capital merged the company with Virence, a former General Electric healthcare business. The combined athenahealth and Virence offers a range of electronic healthcare record and other software services to a continuum of customers. Athenahealth's cloud-based products have been geared toward primary care, obstetrics/gynecology, pediatrics, internal medicine, and similar practice areas. Virence's offerings through the Centricity platform have targeted more specialty areas with a focus on multi-specialty practices and acute care. The merger brings the range of offerings together in one company.
After the merger, the company brought in a new executive staff to drive finance, marketing, sales, and product development.
Mergers and Acquisitions
Athenhealth has typically acquired small but promising companies to broaden its market presence.
In 2017 athenahealth bought Praxify Technologies, which develops technology for how doctors work with health data. Athenahealth integrated Praxify's technologies to enhance its platform strategy and mobile capabilities to allow smoother workflows and increase information available at the point of care. Terms were not disclosed.