Netsmart, which offers electronic health record (EHR) software for behavioral health, senior living and social services, has acquired Pennsylvania-based healthcare consulting firm McBee.
Overland Park, Kan.-based Netsmart said its healthcare IT solutions and services coupled with McBee’s professional services would provide with a comprehensive knowledge foundation for community and acute-care organizations as they strive to manage the complex operational, financial and clinical requirements of value-based care and the assumption of risk.
This acquisition, for an undisclosed sum, expands Netsmart’s consulting offerings in change management, revenue cycle management, advisory and education services. Netsmart has more than 1,700 employees and more than 600,000 users in 25,000 organizations. On the 2018 Healthcare Informatics 100, a list of the top 100 health IT vendors ranked by revenue, Netsmart ranked 44th with a self-reported annual revenue of $319 million.
McBee, which has 250 employees and serves more than 3,800 providers, offers strategic consulting in areas such as business organization structure, care management and clinical compliance, denials and appeals, bundled payments, billing and coding, OASIS accuracy, revenue recovery and more. These services are particularly valuable in the community and acute care markets as they undergo major reimbursement model changes.
“As healthcare organizations continue to integrate and move toward value-based payment models, they need business partners who anticipate changes to healthcare models, rather than react to changes,” said Netsmart CEO Mike Valentine, in a statement. “We aim to anticipate clients’ needs, advocate for those needs and then assist clients to implement new models, so they can become leaders of a transformed healthcare system. McBee delivers critical knowledge that providers need to thrive in today’s changing landscape. The expertise from their advisors included as part of the Netsmart portfolio will accelerate our clients’ ability to deliver value by equipping them with the tools and strategies they need for future growth and success.”
Netsmart had a two-year relationship with health IT company Allscripts. In March 2016, Allscripts contributed its homecare business to Netsmart, in exchange for the largest ownership stake in the company. In 2018 Allscripts announced it would sell its stake in Netsmart to private equity firms TA Associates and GI Partners for $525 million.
