NextGen Healthcare Selected by Physical Rehabilitation Network to Streamline Efficiencies and Fortify Revenue Cycle
Integrated electronic health record, practice management solutions and RCM services to align quality care with clinical, administrative and revenue processes to improve financial results
HORSHAM, Pa.--(BUSINESS WIRE)-- NextGen Healthcare Information Systems, LLC., a wholly owned subsidiary of Quality Systems, Inc. (NAS: QSII) and a leading provider of healthcare information systems and connectivity solutions, announced today it has entered into an agreement with Physical Rehabilitation Network (PRN) to deploy NextGen® Ambulatory EHR, NextGen® Practice Management, NextGen® Patient Portal, NextPen® and other NextGen® products and services across its enterprise. Additionally, PRN has agreed to a five-year contract with NextGen® RCM Services to streamline and improve its revenue cycle processes.
PRN is a large, West Coast-based, private equity-backed network of physical therapy clinics comprised of more than 375 physical therapists, 700 staff and over 100+ locations across California, Colorado, Nevada, Texas, and Washington.
Under the agreement, PRN will utilize NextGen Ambulatory EHR and NextGen Practice Management to assist in streamlining processes, increasing practice efficiency and -- with the seamless integration of NextGen Patient Portal -- expediting administrative tasks to ultimately deliver better patient care. Additionally, this agreement will provide PRN the tools necessary to meet its specialty-specific needs while delivering enhanced access to patient data, streamlining workflow and improving flexibility to handle high patient volumes.
PRN selected NextGen RCM Services to achieve wide-reaching optimization of the NextGen® technology and to re-engineer its billing and accounts receivable processes. By implementing NextGen RCM Services, PRN can leverage this one-platform approach across all areas of its enterprise, thereby connecting and synchronizing clinical, administrative and revenue solutions.
Leveraging the innovative "Smart Pen" technology featured in the NextPen, which is used to collect patient history, demographics and signatures directly from the patient in the waiting room without interviewing, scanning or transcription, will reduce administrative costs and burden. This leads to an enhanced patient experience and improved outcomes through proactive patient engagement and better practice efficiencies.
"As the healthcare landscape evolves and PRN continues to grow, we needed a solution to assist us in providing high quality care in an efficient manner by leveraging technology. NextGen's product portfolio, product depth, and continuing innovation provides for a robust scalable EHR/EPM solution that will assist us in streamlining processes while providing high quality care to our patients. Furthermore, NextGen will assist PRN in facilitating our rapid growth plans, utilizing a fully integrated solution while continuing to allow our therapists the flexibility to practice in the manner in which they are accustomed," said Ron Cenko, chief financial officer for PRN.
"This collaboration with PRN reflects NextGen Healthcare's breadth of solutions and services targeted toward not only physical therapy providers, but all healthcare providers across a broad range of specialties. Our integrated multi-product offering enables enterprises like PRN to leverage technology and RCM Service experts to enhance the efficiency of their practice and optimize revenue streams while improving patient care," said Steve Plochocki, president and chief executive officer for Quality Systems, Inc. "Currently, our emphasis on and expertise within the specialty marketplace is growing, based on our ability to optimize the patient experience and more effectively coordinate care, which results in improved outcomes. NextGen's solutions will solidify this market position, further strengthening our ability to continue delivering quality to all specialty providers."
About Physical Rehabilitation Network
Physical Rehabilitation Network ("PRN") is a leading physical therapy clinic ("PT Clinic") platform in the western U.S. The Company owns, operates or provides management services to over 100 PT Clinics in California, Colorado, Nevada, Texas and Washington. PRN PT Clinics provide a variety of outpatient rehabilitation services, including: physical therapy, occupational therapy, hand therapy and other ancillary services. The Company has an attractive business model, partnering with highly respected therapists in their local markets to develop and manage each clinic. The therapist partners maintain their own branding and relationships with referral sources and also typically own a minority interest in the clinic, while PRN corporate in turn provides a comprehensive set of centralized management services to the clinics.
PRN is actively looking for de novo development opportunities as well as add-on investment opportunities. For more information, visit http://www.prnpt.com.
About NextGen Healthcare
NextGen Healthcare Information Systems, LLC, a wholly owned subsidiary of Quality Systems, Inc., provides integrated clinical, connectivity and financial solutions, including revenue cycle management services for ambulatory, inpatient and dental provider organizations. For more information, please visit www.nextgen.com and www.qsii.com. Follow NextGen Healthcare on Twitter at www.twitter.com/nextgen, Facebook at http://www.facebook.com/NextGenHealthcare or LinkedIn at http://www.linkedin.com/company/nextgen-healthcare-information-systems.
This news release may contain forward-looking statements within the meaning of the federal securities laws. Statements regarding future events, developments, the Company's future performance, as well as management's expectations, beliefs, intentions, plans, estimates or projections relating to the future (including, without limitation, statements concerning revenue and net income), are forward-looking statements within the meaning of these laws and involve a number of risks and uncertainties. Management believes that these forward-looking statements are reasonable and are based on reasonable assumptions and forecasts, however, undue reliance should not be placed on such statements that speak only as of the date hereof. Moreover, these forward-looking statements are subject to a number of risks and uncertainties, some of which are outlined below. As a result, actual results may vary materially from those anticipated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: volume and timing of systems sales and installations; length of sales cycles and installation process; the possibility that the products will not achieve market acceptance; seasonal patterns of sales and customer buying behavior; the development by competitors of new or superior technologies; the timing, cost and success or failure of new product and service introductions, development and product upgrade releases; undetected errors or bugs in software; product liability; changing economic, political or regulatory influences in the health-care industry; changes in product-pricing policies; availability of third-party products and components; competitive pressures including product offerings, pricing and promotional activities; the Company's ability or inability to attract and retain qualified personnel; possible regulation of the Company's software by the U.S. Food and Drug Administration; uncertainties concerning threatened, pending and new litigation against the Company including related professional services fees; uncertainties concerning the amount and timing of professional fees incurred by the Company generally; changes of accounting estimates and assumptions used to prepare the prior periods' financial statements; general economic conditions; and the risk factors detailed from time to time in Quality Systems' periodic reports and registration statements filed with the Securities and Exchange Commission. A significant portion of the Company's quarterly sales of software product licenses and computer hardware is concluded in the last month of the fiscal quarter, generally with a concentration of such revenues earned in the final ten business days of that month. Due to these and other factors, the Company's revenues and operating results are very difficult to forecast. A major portion of the Company's costs and expenses, such as personnel and facilities, are of a fixed nature and, accordingly, a shortfall or decline in quarterly and/or annual revenues typically results in lower profitability or losses. As a result, comparison of the Company's period-to-period financial performance is not necessarily meaningful and should not be relied upon as an indicator of future performance. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright © 2013 NextGen Healthcare Information Systems, LLC. All rights reserved.
NextGen is either a registered trademark or trademark of QSI Management, LLC, an affiliate of NextGen Healthcare Information Systems, LLC.All other names and marks are property of their respective owners. Patent pending.
Michelle Rovner, 215-657-7010
KEYWORDS: United States North America Pennsylvania
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