In a strategic move to bolster its offerings in the post-acute care sector, WellSky, a prominent health and community care technology company, has announced its acquisition of Corridor. This acquisition underscores WellSky’s commitment to enhancing the efficiency and performance of care providers in various areas, including clinical, financial, operational, and compliance.
Tackling the Post-Acute Care Industry’s Challenges
Corridor, a tech-enabled services platform, is designed to address the post-acute care industry’s most pressing challenges. With the healthcare landscape constantly evolving due to intricate and shifting regulations, healthcare organizations are seeking reliable coding and Revenue Cycle Management (RCM) providers. These providers play a crucial role in ensuring accurate reimbursement and boosting productivity. By integrating Corridor into its portfolio, WellSky is poised to offer a broader range of services, such as medical coding, clinical documentation review, billing, and collections, catering specifically to the post-acute and long-term care sectors.
A Partnership for the Future
Bill Miller, CEO of WellSky, emphasized the importance of this acquisition, stating, “Providers today are under pressure to consistently showcase superior quality performance and compliance. They’re in search of solutions that not only support quality patient care but also alleviate administrative burdens.” He further added that Corridor, with its exemplary services, stood out as the perfect partner to help post-acute care organizations navigate industry challenges.
Corridor’s impressive credentials include partnerships with over 2,600 client sites and support for more than 52,000 clinicians. This acquisition enables WellSky to solidify its foothold in home health coding and RCM. Moreover, it marks WellSky’s entry into the skilled nursing facility billing domain. This move follows WellSky’s recent acquisition of Experience Care, a testament to its dedication to the long-term care market.
Des Varady, CEO of Corridor, expressed his enthusiasm about the acquisition, noting that joining forces with WellSky would further Corridor’s mission of empowering clients with robust tech-enabled solutions.
Synergizing Strengths for Value-Based Care
Corridor’s profound expertise in billing, financials, and medical coding aligns seamlessly with WellSky’s vision of offering innovative solutions that propel providers to success. Soon, Corridor clients will benefit from WellSky’s advanced analytics, care coordination, patient engagement, interoperability, and EHR solutions. These tools are designed to elevate care quality and strategically position clients for triumph in value-based care models.
Varady, along with the Corridor leadership team, will continue to steer the Corridor team, integrating with WellSky to shape the future of tech-enabled services.
WellSky stands as one of America’s leading healthcare technology companies, championing intelligent, coordinated care. With a vast clientele, including major hospital systems, blood banks, and home health providers, WellSky is dedicated to fostering healthy communities through innovative software, analytics, and services.
Established in 1989, Corridor is a frontrunner in offering tech-enabled coding, revenue cycle, and education solutions to the post-acute healthcare sector. With a deep-rooted expertise in post-acute care, Corridor is committed to ensuring documentation quality improvement and reimbursement success for its diverse clientele.
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