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Indianapolis software firm RealMed acquired

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Health care software firm RealMed Corp. will keep its base of operations in Indianapolis after being acquired by health information exchange provider Availity LLC of Jacksonville, Fla.

Terms of the deal announced Wednesday were not disclosed.

Founded in 1995, RealMed makes software to help health care providers process patient claims and payments faster and with potentially less need for office staff members. It attracted tens of millions of dollars in venture capital in its early years and employed 210 at its pre-recession peak. It now employs 175.

The company began to regain its momentum about two years ago, signing up thousands of new doctors and boasting a 99-percent customer retention rate.

Availity bills itself as a national leader among health information exchange providers, which help clients handle electronic medical records. The company said it will offer RealMed's revenue cycle management tools as a premium suite of services to its existing customers, which are spread all over the United States.

"Revenue cycle management was not one of our strengths, so now we can offer that as well," said Julie Klapstein, CEO of Availity. She added, "It’s all about reducing costs, improving efficiencies in the office, getting paid faster. They have a very good price point compared to the competition."

RealMed's operations so far have been concentrated in such states Indiana, Illinois, Maryland and North Carolina, which are not major territories for Availity.

Officials expect combined revenue to reach $100 million, the company told the Jacksonville Business Journal. Availity reported $70 million in revenue in 2009.

Together, Availity and RealMed have relationships with a network of more than 200,000 health care providers, 1,000 hospitals, 1,300 health plans and 500 industry partners, the company said. Last year, Availity announced a partnership with Indianapolis-based WellPoint Inc.

Availity has 325 workers at offices in Florida and Texas. It is owned by five health insurance plans, including WellPoint, Illinois-based Health Care Service Corp., Kentucky-based Humana Inc. and the Blue Cross plans in Florida and Minnesota. Health Care Service Corp. was also a part-owner of RealMed.

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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

  2. Read the article - the reason they can't justify staying is they have too many medicare/medicaid patients and the re-imbursements for transporting these patient is so low.

  3. I would not vote for Bayh if he did run. I also wouldn't vote for Pence. My guess is that Bayh does not have the stomach to oppose persons on the far left or far right. Also, outside of capitalizing on his time as U. S. Senator (and his wife's time as a board member to several companies) I don't know if he is willing to fight for anything. If people who claim to be in the middle walk away from fights with the right and left wing, what are we left with? Extremes. It's probably best for Bayh if he does not have the stomach for the fight but the result is no middle ground.

  4. JK - I meant that the results don't ring true. I also questioned the 10-year-old study because so much in the "health care system" has changed since the study was made. Moreover, it was hard to get to any overall conclusion or observation with the article. But....don't be defensive given my comments; I still think you do the best job of any journalist in the area shedding light and insight on important health care issues.

  5. Probably a good idea he doesn't run. I for one do not want someone who lives in VIRGINIA to be the governor. He gave it some thought, but he likes Virginia too much. What a name I cannot say on this site! The way these people think and operate amuses me.

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