Strategic Partnerships Remain a Top Agenda for MatrixCare and PointClickCare, Global Long Term Care Software Market Moves toward High-quality Coordinated Care
With advancing medical industry and increasing quality of medication treatments, the recent past has been seeing decently growing demand for long-term care software. Although not a new concept, it was necessary that long term care practices are upgraded with evolving time and soaring demand for healthcare IT solutions. Long-term care software involves fully integrated EHR (electronic health record), billing, and business intelligence solution, which collectively aid in improving and managing resident care at various levels in addition to maintaining compliance. Long term care software is proved to enhance the efficiency and quality of existing long term care systems, which is why several governments across the world are initiating investments and implementation of long term care software so as to minimize overall healthcare costs.
The global market for long term care software is highly competitive and some of the key participants include Allscripts Healthcare Solutions, Inc., Cerner Solutions, Omnicare, Inc., Omnicell, Inc., HealthMEDX, LLC, McKesson Corporation, Optimus EMR, Inc., PointClickCare, MatrixCare, and SigmaCare.
PointClickCare chooses partnership with Redox for high-quality coordinated care delivery
A leading vendor of cloud-based software, PointClickCare Technologies, addresses both long term and post-acute care requirements through software technology. However, the difference between the demands of acute care market and post-acute care market is vast and needs to be reduced. PointClickCare recently announced its partnership with a leading integration platform meant for data exchange in healthcare sector – Redox Inc. Both the companies together aspire to bridge the gap between acute and post-acute care markets with an aim to deliver care in a truly collaborative and coordinated manner throughout the healthcare industry. The result will be a highly empowered healthcare delivery system.
MatrixCare focuses on strategic deals for better care delivery and enlarged market share
MatrixCare® is the largest provider of LTPAC (long term post-acute care) technology in the US and has been recognized as the Best in KLAS Award for long term care software for the second consecutive year. Recently in 2017, the company announced a significant acquisition of a leading HER vendor – Sigmacare. The latter is based in Manhattan and specializes in long term and post-acute care. Matrixcare considers strategic acquisitions a key part of the growth strategy and is constantly in search of efficient and successful product lines, which can potentially and profitably complement the company’s product offerings.
More recently in 2017, MatrixCare also announced its partnership with NextGate, which is a leading healthcare technology firm that offers identity management of both patient and provider. In a bid to stretch its premier identity management solutions to include long term care communities, senior living, and skilled nursing, MatrixCare has partnered with NextGate.
This deal enables NextGate’s EMPI technology to offer a functionality involving master patient index and patient identity management within MatrixCare’s community care collaboration platform. As far as client companies are concerned, they will obtain a complete, integrated package with an accurate patient database right from the implementation stage.
Although key companies are constantly innovating, emerging players in the global long term care software market may find high maintenance costs of the software critically challenging, eventually affecting the market growth.
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