The Company provides a leading suite of software and service solutions to support healthcare providers. Products and services included are Patient Assistance Program for Prescription Drugs Software (PAP), “onshore” based Medical Billing, Credentialing, Collections and Denial Management Services, Electronic Medical Records (EMR) Software, Proprietary Claim Adjudication Software. The trademark, patentable, and proprietary software is designed to increase revenues for the healthcare providers while improving the quality of care for patients. The suite of software products and services are being used by both for-profit and non-profit healthcare providers, as well as private and government healthcare providers. Providers currently using the suite of software and services include but are not limited to hospitals, pharmacies, clinics, healthcare centers, government and county run healthcare facilities, Native American Pharmacy, Patient Advocates, medical billing companies and billers. The company owns all the source code.
The software has already facilitated over $520 million in free or very low cost name brand and generic medications through successful patient assistance applications, for insured, underinsured, uninsured and indigent patients, especially patients falling at or below the 400% of the Federal Poverty Guidelines (FPL); over 58% of the population can qualify. The business is scalable within a fast-growing healthcare sub-sector. The acquirer can further protect its market position through patents.
The Company’s Patient Assistance Program for prescription drugs software (PAP) helped their clients process over 100,000 PAP applications. The software allows healthcare providers to identify and qualify patients who need assistance for numerous reasons. The platform provides software for Patient Assistance Program (PAP) and/or Medication Assistance Programs (MAP) from nationally available pharmaceutical manufacturer and all foundation resources. For one enterprise level customer, the company’s software shortened the PAP qualification process from up to 70 hours to minutes resulting in access to essential name brand and generic medications either free or at a very low cost (easing financial strain for the patient and saving the facility up to 35% of their “drug-spend” budget) while streamlining PAP tasks and medication management, reduced administrative burdens and improved patient care. The estimated savings were $26 million!
The Company’s Electronic Health System (EHS) was specifically designed for Free and Charitable clinics, Community Health Centers to save time, work smart and provide better patient care. The system is simple, intuitive, and very easy to use with a built-in Electronic Health Records (EHR). The platform is currently the leading cloud-based system that includes five integrated and powerful modules: Customizable Electronic Health Records (EHR), Patient Assistance Program for Prescription Drugs (PAP), Rx and Inventory Module, Donor and Donations Module, Volunteer and Staff Tracking Module. Any or all the modules can be selected based on the healthcare providers’ specific needs.
The Company also provides onshore Revenue Cycle Management which includes billing, collections, credentialing, denial management and clearing house services by Certified Professional Coders (CPC) and billers. Their proprietary claim adjudication software minimizes rejections and eliminates short pays on all medical claims submitted to payers resulting in increased collections.
Confidentiality is a concern for the Seller while searching for the right buyer. Exact business location and name will be shared once a qualified Buyer prospect is vetted.
NDA is required to secure comprehensive Confidential Information Memorandum (CIM).
