Despite the impact of the pandemic on healthcare purchasing and contracts, affordable healthcare IT provider looks back on sizeable year-over-year growth and other significant milestones
Salt Lake City, UT—January 25, 2022—Medsphere Systems Corporation, the leading provider of affordable and interoperable healthcare IT platform solutions and services, is reporting significant revenue growth for 2021 in spite of the many challenges created during the year by the continuing COVID-19 global pandemic. For the year, Medsphere is reporting a 37 percent increase in subscription and services revenue across the company.
Other highlights of the year recently ended include the extension of a $50 million credit facility by Wells Fargo Bank. The available funds enable Medsphere to continue developing a comprehensive health platform that incorporates existing technology platforms and service lines while also exploring additional software tools and services that meet the needs of the company’s core customer base. Medsphere also acquired Systeem Medical Information Systems, a provider of ambulatory healthcare IT consulting and services, and received a patent for the company’s MDTP patient care coordination application for inpatient behavioral health settings.
The year started with the announcement that Medsphere had acquired Marketware, Inc., a leading developer of robust software tools focused on managing healthcare relationships and analyzing a wide variety of data to augment existing competitive advantage.
“It’s a dramatic understatement to say that 2021 has been a rough one for hospitals, clinics, and private practices, and unfortunately those challenges will continue into the near future,” said President and CEO Irv Lichtenwald. “Our tremendous respect and gratitude go out to the medical community in recognition of their undaunted professionalism and concern for patient health. We feel fortunate to contribute to those efforts in any way possible, and we also feel grateful that Medsphere has been able to grow and move forward during such a troubled time.”
In 2022, Medsphere is continuing to expand both individual product functionality and the company’s product and services platform. With the expectation of continuing growth in the healthcare IT sector, the company looks forward to nurturing client relationships and demonstrating the many ways to enhance patient care through IT without having to sacrifice other necessary initiatives.
Founded in 2002 and based in Salt Lake City, UT, Medsphere Systems Corporation is an organization of committed clinical and technology professionals working to positively impact patient care by delivering award-winning healthcare IT solutions for providers of every size and budget. Medsphere’s portfolio includes CareVue, an integrated inpatient EHR platform that provides comprehensive clinical support, Wellsoft EDIS and urgent care solutions, RCM Cloud, a complete end-to-end revenue cycle management solution, HealthLine, a proven and versatile supply chain management product, and the Marketware suite of healthcare relationship management and data analytics tools.
Medsphere’s ChartLogic division offers a complete ambulatory suite including EHR, Practice Management, Revenue Cycle Management, and Patient Portal. Using a vendor-independent approach to helping hospitals solve critical challenges, the Phoenix Health Systems division provides a host of healthcare IT services, including systems implementation, project management, remote service desk, end-user device management, application management and IT leadership. Medsphere’s Government Services Division also applies legacy EHR expertise to development and testing projects for both the Department of Veterans Affairs and Indian Health Service.
Learn more about Medsphere at www.medsphere.com.