Together, the healthcare technology companies will continue to innovate and strengthen solutions that position organizations to succeed against industry challenges and thrive in value-based care
WellSky, a leading health and community care technology company, announced today that it has acquired Experience Care, an innovative technology company offering a suite of software solutions for post-acute and long-term care providers. With the addition of Experience Care, WellSky expands its commitment and investment in the long-term care market.
Experience Care has a proven track record with its leading electronic health record (EHR) platform NetSolutions, serving 150 long-term care clients with 850 facilities. The combination of the two firms will enable more providers to increase operational efficiencies, improve financial performance, and turn data into meaningful information that advances resident care—further establishing WellSky as a top technology partner for post-acute and long-term care providers.
“This is a transformational time for post-acute care providers. Workforce shortages, regulatory shifts, and changes to reimbursement can have a profound impact on care delivery,” said WellSky CEO Bill Miller. “But it’s also a time of great potential in our industry, and that’s why it’s important providers have a single, trusted technology partner with solutions that offer full visibility into the patient journey. With the addition of Experience Care, WellSky becomes a well-resourced and scalable intelligent care management partner for long-term care providers.”
Seven out of 10 seniors who reach the age of 65 are projected to need long-term care before the end of their lives—meaning approximately 24 million Americans will require long-term care by 2030. Experience Care has built a powerful financial and clinical software solution that is integrated to streamline data management, save time, and deliver high quality care for skilled nursing, assisted living, and other long-term care facility residents. By joining with WellSky, Experience Care clients will be able to leverage WellSky’s broad suite of solutions, leading network of providers, and tech-enabled services to better collaborate, facilitate seamless care transitions, and achieve successful outcomes for complex patient populations.
“High-quality patient care begins and ends with the provider, and that’s why we’ve made it our mission to ensure that long-term care organizations have the best financial, clinical, and administrative tools to operate efficiently and effectively,” said Gina Barrett, chief operating officer of Experience Care. “As long-time admirers of WellSky, we couldn’t be more excited about this new partnership. The combination of our two companies will bring a whole new level of innovation to power long-term care organizations’ success.”
WellSky’s deep experience in post-acute care is a natural fit with Experience Care’s clinical and financial management capabilities. Together, the companies will further invest in care coordination, analytics, and interoperability to improve care and deliver advanced revenue cycle management solutions to strengthen reimbursement and overall financial performance. This better positions clients for success with value-based care models. Over time, Experience Care clients will also be able to connect to WellSky’s network of more than 2,000 hospitals and 130,000 providers to improve collaboration and increase visibility to patients across care settings.
Barrett will lead the Experience Care team, and Experience Care clients will see no immediate changes to the services, insights, or support they are accustomed to receiving. WellSky and Experience Care will combine their expertise in post-acute and long-term care software and solutions to better serve the long-term care industry through enhanced solution innovation.
Healthcare Growth Partners served as financial advisor to Experience Care.
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