There has been a great deal of speculation about the home care industry in recent years. Even in light of significant cuts in spending at the federal level, it has remained the leading job creator, yet more people in need have seen their hours of care limited and other challenges have arisen.
Technology has been viewed as the answer to these new challenges and DeVero is one of the fastest growing within the software-as-a-service solutions. Netsmart, a health care IT company based out of Overland Park, recently acquired DeVero, which is based in Silicon Valley. This means Netsmart is now making its presence known within the home care and hospice sector.
The plan is for Netsmart to seamlessly integrate DeVero’s technology into its processes in order to be able to offer services to patients in their home. As reported by Leslie Collins, reporter for the Kansas City Business Journal, in the article, Netsmart expands to reach in home health care space with acquisition:
“We’ve always had a strong ongoing commitment to providing our clients with leading-edge clinical and business solutions specifically designed for their communities,” Netsmart CEO Mike Valentine said in a release. “The addition of DeVero to our family provides our home care clients with a full-featured, home care-specific mobile clinical solution that will add even more capabilities for integration and automation across all care settings, and offers DeVero clients access to our HIE (health information exchange), analytics and billing solutions, among others.”
The selling price for this acquisition was not disclosed by either company. Netsmart is not new to the home care services industry as it was part of a joint venture that ultimately led Allscripts Homecare to fold into Netsmart. Now, the company wants to have a firm foundation in all aspects of healthcare, which includes support and care for patients at home.
Netsmart reported $292 million in revenue for 2016, making it the number 33 company on the Kansas City Business Journal’s Top Private Companies List. It has about 1,500 employees and now adds more than 560,000 users at over 25,000 organizations nationwide.
As the home care sector continues to be in greater demand, reducing the cost of providing services becomes monumental to success and technology is viewed as being the key to that. Netsmart appears to be making strong, bold moves to position itself as a leader in both healthcare and home care support services for the foreseeable future.