Covisint acquires DocSite
"We were hearing a lot of, 'OK, I get that Covisint will help deliver the data back and forth, but what do we do with it? How can we change it into information that will help the physician make better decisions?’"
Brett Furst, vice president, healthcare at Covisint, the Detroit-based maker of health information exchange services was explaining why his company acquired DocSite, a Raleigh, N.C.-based clinical decision support and quality performance management company, in an all-cash deal in which details were not disclosed.
Covisint had been partnering with DocSite for nearly a year when the deal was announced – and the value it brought to the table was readily apparent. "We feel like we're going after a few fundamental problems," says Furst, adding that what DocSite does "is really becoming more core to the needs of our customer base versus maybe being a nice add-on."
Top of the list for those 68,000 caregivers who are already on the Covisint platform? Improved assistance in helping customers win stimulus money by providing quality, accountable care.
"The endgame is about quality improvement in care delivery," said Furst. "By bringing in some of the quality reporting decision support and analytics tools that DocSite affords us, we're now able to go after aggressive use cases that can drive sustainability."
For example, "a reduction of unnecessary spend from a Medicaid perspective as we work on high-cost demographics and drive down new initiatives and use cases that measure the improvements and outcomes – that's something at which DocSite is world-class."
Meanwhile, DocSite has built "a world-class engine around PQRI. So what that means for us is that we're able to help physicians do their own reporting and go after some of the CMS dollars on deck."
With quality reporting "fundamental and mandatory in some cases" Covisint is now positioned to offer those capabilities "in a very non-disruptive and lightweight way" – via a highly secure, cloud-based solution that jibes with docs' workflow in paper- or electronic-based environments.
The deal also gives Covisint a leg up in winning large state health information exchange (HIE) and other contracts related to the secure access and exchange of health information, execs say.
"What you really end up with is an exchange system that can emphasize the business and clinical needs of the end-user communities," said John Haughton, MD, founder, chairman and CMIO for DocSite. "It might be a hospital wanting to do physician alignment to enhance the referrals back and forth. It might be an IPA that wants to work together to collectively have the physicians in a place where they can refer patients, care for patients, know the performance that's going on between them – and do it in conjunction with the hospital so they look like an integrated network even though they're separate pieces in the community."
David McGuffie, Covisint's president and COO, says that "the writing is on the wall: the U.S. healthcare system now demands outcome-based care, and this visionary acquisition positions Covisint as the leader in this space for years to come. DocSite meets and exceeds the needs of doctors, hospitals and health systems in providing interconnected care, quality management and reporting – all of which helps physicians and hospitals obtain needed stimulus monies in today's competitive, pay-for-performance environment."
With point-of-care decision support, population management, and quality and P4P reporting solutions, DocSite – in tandem with Covisint's secure, highly scalable platform – can help offer the secure information delivery caregivers need to meet meaningful use and stay well-positioned in the evolving world of accountable care organizations, said Haughton.
"Covisint's acquisition of DocSite is the right solution at precisely the right time, particularly in today's healthcare world of strategic, health information sharing initiatives that demand effective care, quality measurement and IT adoption," he said. "This potent set of care, quality and measurement tools – combined with Covisint's industry standard ExchangeLink platform – addresses the key needs in today's market, Beacon and PQRI requirements, and will evolve for years to come for physicians and health systems."