News Feature | January 12, 2015

EHR Vendor Expands Billing, Inventory Management, And Group Purchasing Services

Christine Kern

By Christine Kern, contributing writer

Your Healthcare IT Clients Are Facing EHR Integration Issues After Healthcare Consolidation

Modernizing Medicine acquires Aesyntix in deal that will expand their offerings.

Modernizing Medicine, which created a cloud-based specialty-specific electronic medical records system, has acquired Aesyntix, a provider of revenue cycle management, inventory management, and group purchasing services. The Florida company currently services a range of medical specialties from ophthalmology to cosmetic surgery with a client base of more than 4,800 doctors.

It also provides the Electronic Medical Assistant (EMA), an iOS and Android app, to about 30 percent of the U.S. dermatology market. The Miami Herald reports the EMA facilitates examination notes, access to past records, diagnosis, prescription and lab work orders, and patient reporting for physicians.

The acquisition of Aesyntix means Modernizing Medicine can expand its offering and branch into billing, inventory management, and purchasing programs. “This acquisition takes us into services that are very different but very complementary ... and we know our clients want a one-stop shop,” said Daniel Cane, who co-founded Modernizing Medicine with Dr. Michael Sherling, according to the Miami Herald. “It’s further proof that the more specialized we become, the deeper and more complete our offerings can be and we can fend off larger companies that have generic offerings.”

“Our new specialty-specific RCM service along with EMA can create … billing processes at the point of care to help reduce denials, monitor and maximize reimbursements, decrease the cost of collections, and increase revenue for providers,” Cane said in a press release.

Recently, Modernizing Medicine partnered with IBM Watson to develop a Watson-powered app, called schEMA, designed to help dermatologists offer optimal treatment options, according to The Miami Herald. Designed as an extension of EMA, schEMA brings together EMA’s big-data processing and the cognitive ability of Watson to provide medical answers to doctors at the point of care.

The deal closed in December and no financial details were released. Four years old, Modernizing Medicine has an annual budget of about $50 million, according to The Sacramento Business Journal.