The software-as-a-service company EverCommerce announced this week that it is acquiring DrChrono, an electronic health record, practice management and billing software vendor.
The transaction is expected to be finalized by the end of the month, pending regulatory review and other conditions.
The financial terms of the acquisition were not disclosed.
WHY IT MATTERS
DrChrono says its integrated EHR, practice management, revenue cycle management, payment acceptance, telehealth and medical billing services are currently in use at 4,600 independent practices and 13,000 providers across medical specialties.
With the acquisition, it will join EverCommerce’s suite of EverHealth tools, which help more than 72,000 customers streamline day-to-day healthcare practice operations, improve provider and administrative workflows and modernize engagement with patients.
According to the companies, DrChrono will act as a centerpoint of EverHealth’s integrated software for independent healthcare practices.
Other EverHealth tools include Updox, a communication platform; AlertMD, for revenue cycle management; CollaborateMD, geared toward medical billing and practice management; and MDTech, which focuses on patient engagement needs.
“EverCommerce and DrChrono both share a commitment to helping small- and mid-size businesses thrive,” said Daniel Kivatinos, COO and cofounder of DrChrono, in a statement.
“We’re excited to align ourselves with EverCommerce and their suite of healthcare technology solutions to help us to provide additional value for our customers,” he continued.
THE LARGER TREND
In June of this year, it announced that it would continue to expand its telehealth efforts, helped along by $12 million from ORIX Growth Capital.
ON THE RECORD
“As the healthcare industry rebounds from the pandemic, there is increased focus on making care accessible and adaptable to maximize patient engagement,” said Matt Feierstein, president of EverCommerce, in a statement.
“DrChrono is a leader in mobile technology for healthcare providers. Patient preference for those convenient options continues to grow, making DrChrono an ideal complement for our EverHealth solutions group,” Feierstein added.