HealthStream, a healthcare company specializing in learning, research and human resource solutions, recently announced its plan to acquire HealthLine Systems, a provider of credentialing, contact center and quality management software, for about $88 million.
HealthStream’s acquisition of HealthLine will enable expansion of its talent management solution set, addressing the need for healthcare organizations to have a way to manage their workforces’ qualifications and competencies. HealthLine’s product line contains many tools -- such as task automation and workflow management - that will allow HealthStream to provide full data management support with streamlined credentialing, privileging and provider enrollment processes. In turn, healthcare providers will be able to easily keep track of their practitioners’’ accreditation and performance while ensuring regulatory compliance.
HealthLine’s Echo, the company’s flagship product, is the major component of this functionality and supports the credentialing process by eliminating paper-based tasks, providing primary source verification sites, improving workflows and accessing large quantities of reports efficiently. Echo also helps maintain OPPE/FPPE compliance and the automated credentialing capabilities ensure requirements for the Joint Commission, NCQA and URAC are readily met. More than 1,000 healthcare facilities have implemented Echo since its launch.
“HealthLine Systems and HealthStream share a strong passion for supporting the healthcare workforce with solutions that, in turn, maximize the quality and delivery of healthcare,” said Dan Littrell, CEO of HealthLine Systems. “Together, a more comprehensive solution can be offered to the industry as our products are highly complementary for the healthcare workforce. Moreover, HealthStream has the positioning – like no one else – to further invest in and grow our products' market presence. I am excited by the opportunities that this transaction will bring to our customers.”
After the acquisition, HealthLine will be merged with HealthStream’s SyMed business and form a new, rebranded company. The SyMed OneApp application automates time-consuming credentialing and health insurance enrollment processes for physicians, nurses and other healthcare professionals. The combined solutions from SyMed and HealthLine will significantly expand this area of HealthStream’s operations.
Michael Sousa, HealthStream’s Senior Vice President of Business Development and former Senior Vice President of Sales, will be appointed as president of the company’s credentialing, privileging and provider enrollment business.
“The significant expansion of our credentialing and privileging solutions will add important capabilities to enable healthcare organizations to streamline administrative processes, ensure compliance, and optimize clinical outcomes...” said Sousa. “I look forward to welcoming HealthLine's customers and employees to HealthStream.”
The transaction is expected to close during the first quarter of 2015 and is subject to customary conditions.
Edited by
Maurice Nagle
