Health care information technology company Netsmart has purchased Remarkable Health, a Chandler, Arizona-based provider of artificial intelligence (AI) technology and software solutions for organizations focused on behavioral health and individuals with intellectual and developmental disabilities (I/DD).
Terms of deal, which was announced Thursday, were not disclosed.
Remarkable Health’s products include CT|One — a management platform for behavioral health claims and records — and Bells, a notetaking documentation solution for behavioral health clinical staff.
Remarkable Health’s products will complement that of Netsmart’s CareFabric platform, an operating system that includes resources such as electronic health records and management tools, and which are utilized by providers like those in behavioral health, addiction treatment and autism care.
Remarkable Health claims that the Bells platform helps reduce time spent on clinical documentation by over 50%, enabling organizations to serve six more clients per month.
“By working together, we can bring our AI technology capabilities to serve all community settings and raise the industry standard for care delivery and offer Remarkable clients additional Netsmart offerings such as population health management, [Certified Community Behavioral Health Clinic] tools, telehealth, interoperability, electronic visit verification (EVV) and more to enhance care delivery,” Remarkable Health CEO Peter Flick said in a press release announcing the deal.
Netsmart’s products are touted by the company as a way of helping deliver value-based care, which a number of providers in the behavioral health industry have been gravitating towards as far being reimbursed for services.
The payment model, which is built on insurance reimbursement based on health outcomes, is a move away from the longstanding practice of fee-for-service.
“As the healthcare system continues to evolve, providers delivering value-based care are needing technology now more than ever to maximize clinician efficiency,” Netsmart CEO Mike Valentine said in the press release. “We are excited to join forces with the Remarkable team to continue advancing AI throughout community care organizations to enable providers through an integrated, digitized platform with innovative and efficient functionalities.”
The deal for Remarkable Health follows another major development earlier this week for Overland Park, Kansas-based Netsmart.
On Monday, Nesmart announced that it was partnering with the National Council for Mental Wellbeing to help track and assess care services at CCBHCs.
CCBHCs are nonprofit and state-operated behavioral health clinics that are eligible for higher-than-average federal reimbursements in exchange for offering a particular set of services like 24-hour crisis care, SUD treatment and comprehensive mental health treatment.
Currently, there are over 430 CCBHCs operating in 40 states, Washington, D.C. and Guam.
Companies featured in this article:
National Council for Mental Wellbeing, Netsmart, Remarkable Health
