Newport Credentialing Solutions Ranks No. 1 Among Credentialing and Privileging Firms in Black Book Survey

CHATTANOOGA, TN, LYNBROOK, NY. May 16, 2018/Business Wire. Newport Credentialing Solutions, a division of TractManager, Inc., is the top-ranked provider of credentialing and privileging solutions in a second-quarter 2018 outsourcing user survey conducted by Black Book Market Research, an independent market research company. Black Book reports that more than 4,500 executives, hospital board members, and senior managers from 709 hospitals took part in the survey, which rated vendors from 16 categories of outsourced services.

“We appreciate the positive ranking, and the widespread interest that Newport is generating in the market and across our client base.  Their software platform and services make an immediate financial impact on healthcare organizations and provider practices. They are truly best-in-class!” said Trace Devanny, Chief Executive Officer of TractManager.

Since its founding in 2009, Newport has focused on helping providers take control of the credentialing lifecycle by reducing denials, improving operational and financial efficiencies, and generating more revenue in less time. Newport treats credentialing as an integral part of the revenue cycle, and has developed customized professional and support services that wrap around its proprietary software, and maximize the value of the credentialing platform.

Scott Friesen, founder and CEO of Newport Credentialing Solutions added, “Providers who are not enrolled correctly will not be paid correctly.  Poor enrollment management causes significant claims denials and consequent lost revenue, and for many expanding healthcare organizations, the volume of enrollment work can quickly exceed their internal staffing capacities.  We’re here to help.”

About Newport Credentialing Solutions

Newport Credentialing Solutions is the nation’s premier provider of cloud-based, workflow and analytics software, and cloud-enabled services dedicated to the credentialing lifecycle. Newport’s clients include some of the largest academic medical centers, health systems, and multi-specialty group practices in the United States.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs, and government agencies, and MedApproved, a new product approval workflow solution supporting value analysis. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract and credentialing  management to meet regulatory requirements.

Contact
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
TractManager, Inc.
(800) 375-5463
sandra.taylor@tractmanager.com

 

The Future Five: Innovations We Might See in 2017 or in the Very Near Future

DALLAS, TX — January 16, 2017/Business Wire — Just a few years ago, minimally invasive surgery to treat serious conditions such as stroke and heart valve defects was unimaginable. But technology has brought us to the point where such patients can be treated quickly and safely through intravenous microsurgery, often walking around within hours and leaving the hospital in just a few days.

Today’s medical technology is on the brink of several innovations that are nothing short of breathtaking. New smaller and smarter technologies that offer the allure of both incredible costs savings and tremendous advances in patient treatment are rapidly being developed.

Historically, emerging technologies that provide new therapies and diagnostic tools have been the hallmark of leading-edge facilities. But with the focus on quality and value, cost-saving technologies have been a new area of interest for mainstream providers.

Some of these technologies might even see commercialization in 2017, and widespread use just a few years from now.

James Laskaris, emerging technology analyst at MD Buyline, the leading provider of healthcare strategic sourcing, points out five innovations that might be just months or a few years away.

Wideband Medical Radar

Painful mammograms requiring the patient to stand while her breast is compressed in an x-ray machine might soon be a thing of the past.

Current mammography techniques are not only painful but expensive, and may expose the patient and clinicians to harmful ionizing radiation.

But medical radar is now being developed for imaging breast cancers, using radio waves instead of sound or radiation. Medical radar uses electromagnetics similar to a microwave oven or cell phone, but at extremely low power.

It is also a fast and easy-to-use technology. The process takes less than a minute, and both breasts can be scanned while the patient lies comfortably on a table.

The system is designed to use multiple antennae, which scan the breast at frequencies of 4GHz to 10GHz. Initial designs allow the patient to lie flat on a table as opposed to standing. The resulting 3D image, similar to current breast tomosynthesis, gives doctors a highly detailed view of the breast.

Medical radar is also suitable for imaging dense breasts. As opposed to ultrasound, it has the ability to penetrate deeply within the body and is not obstructed by bone or other barriers such as air pockets.

Micrima Ltd. was founded to develop microwave radar breast-imaging technology initially pioneered at the University of Bristol in the UK. The company’s MARIA system received European regulatory approval in 2015 and is currently deployed in clinical trials based at several breast cancer imaging centers throughout the UK.

Conventional equipment for digital breast x-rays might cost close to a quarter of a million dollars, whereas a medical radar unit will cost one tenth as much. Screenings would be less expensive and far more widely available.

3-D Bioprinting of Human Tissue: It’s Here Today

The promise of 3-D bioprinting of human tissue is almost too much to imagine. A fully functioning kidney created from the patient’s own cells might be decades away, but the first steps in that direction are already being taken.

The process is based on liquefying cells from either the patient or a donor in order to provide oxygen and nutrients.  The cells are then deposited on a scaffold, layer by layer, based on a predetermined configuration customized to the patient. Then the bioprinted structure is incubated until it becomes viable tissue.

Several universities have created their own bioprinters, and manufacturers such as the Swiss-based regenHU Ltd. and German Envision TEC are selling 3D bioprinting equipment and materials.

California-based Organovo and other companies are currently providing functional human tissue for pharmaceutical testing, and in December 2016 Organovo presented the first data showing survival and sustained functionality of its 3D bioprinted human liver tissue when implanted into animal models. Organovo aims to submit such therapeutic liver tissue to the FDA in as soon as three years.

Even more incredible is the progress of Russian 3D Bioprinting Solutions, which printed a functioning thyroid in a mouse model and claims to be ready to do the same in humans.

Perhaps a more realistic near-term hope than creating whole organs is to print tissue for simple transplant parts, such as blood vessels, heart muscle patches, or nerve grafts.

Printing repair cells grown with a patient’s own cells would offer a surgeon the option of repairing organs with tissue that is a perfect match, as opposed to replacing them with completely foreign tissue.

Smart Probe/Smart Scalpel

Smart Probes and Smart Scalpels are designed to be tissue-selective, targeting a specific type of tissue such as cancerous, vascular, or nerve tissue.  The goal of the technology is for use in microsurgical procedures, including repair of cerebral aneurysms, anastomosis of blood vessels or nerves, brain tumor resection, and acoustic neuroma removal.

Image components can be spectroscopy, MRI, and mechanical and electrical impedance. Therapeutics could include radiation, HIFU, Acoustic, and RF mechanical energy.

The current technology from research centers such as Lawrence Livermore National Laboratory, MIT, and the Sandia National Laboratory is being spun off to start-up companies.

Livermore has partnered with San Jose-based BioLuminate, Inc., to develop Smart Probe, which is designed to distinguish between healthy and cancerous tissue.  During a procedure, the Smart Probe is inserted into the tissue and guided to the region where the tumor is located. Sensors on the tip of the probe measure optical, electrical and chemical properties that are known to differ between the tissues. The Smart Probe can detect five to seven known indicators of breast cancer.

One distinct advantage is that tissue measurements are made in real time in both normal and suspect tissue.

The Smart Scalpel, developed at Sandia, is based on the same principle of detecting cancer cells as a surgeon cuts away a tumor obscured by blood, muscle, and fat. A dime-sized device called a biological microcavity laser employs an optical reflectance spectroscopy as part of a line scan imaging system to identify and selectively target blood vessels in a vascular lesion for thermal treatment with a focused laser beam. The goal is to help surgeons more accurately cut away malignant growths while minimizing the amount of healthy tissue removed. The result will be improved outcomes through more effective surgeries.

Electromagnetic Acoustic Imaging

Electromagnetic acoustic imaging (EMAI) is an emerging imaging technology that combines bioelectromagnetism with acoustics. The result is an ultrasound device that’s safer than a CT and can provide images that approach MRI quality. It offers physicians the ability to distinguish between malignant and benign lesions at a fraction of the cost of higher-end systems such as MRI or PET.

The science is based on dissimilar tissues reacting differently to outside stimuli. Each layer of tissue will vibrate at its own unique frequency when stimulated. This can be measured and converted into an image by means of ultrasound detectors. Researchers have used light, ultrasound, and electromagnetic energy for stimulating tissue.

Cancerous tissue is 50 times more electrically conductive than normal tissue, and electromagnetic energy also has the ability to penetrate much more deeply into the body than light. This makes electromagnetic acoustic imaging an excellent technology for diagnosing a whole range of tumors despite their location.

Studies have shown that the low levels of electromagnetic energy required for the body are safe, and can detect tumors as small as two millimeters in diameter. Not only is EMAI effective, less expensive, and safe, it’s fast and the equipment is portable.

Medielma, an Italian firm, has developed a safe, effective EMAI system, the ESO Prost 9, for diagnosing prostate cancers that doesn’t require disrobing, physical exams, or x-rays. The patient merely lies on a couch during the exam. The technology is currently being used in Europe.

Treating Stroke with “Nanobots”

Stroke is the No. 5 killer in the United States. Even when the patient survives the result can be long-term disability, which can be heartbreakingly painful and very expensive.

Stroke is the blockage of a blood vessel providing fresh blood and oxygen to the brain cells.  Deprived of oxygen long enough, those brain cells die. “Time equals brain,” say neurologists and neurosurgeons.

Nanotherapeutics, treating disease on the molecular level, is already being used in the treatment of cancer and infections. Now emerging targets of nanobots are breaking up stroke-causing blood clots and the precision delivery of drugs for reversing the effects of stroke.

Scientists have been studying platelet-sized nanobots coated with a tissue plasminogen activator (tPA), one of the most effective clot-busting drugs known.  These nanobots are fabricated as aggregates of multiple smaller nanoparticles (NPs). The microscale aggregates remain intact when flowing in blood under normal conditions, but break up into individual nanoscale components when exposed to the blocked artery.

The result can be faster delivery of the drug, quicker clot-busting, and fewer side effects from the tPA such as bleeding or hemorrhaging, since less tPA is delivered to the non-clotting vessels in the body. Tests conducted four years ago on mice proved dramatically effective.

Not only can the patient’s life be saved, but recovery time is slashed and treatment costs are greatly reduced.

These nanobots to treat stroke might only be two or three years away.

TractManager Acquires Newport Credentialing Solutions

CHATTANOOGA, TN, DALLAS, TX. Feb. 20, 2018/Business Wire. TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has acquired Newport Credentialing Solutions, the leader in cloud-based credentialing and provider enrollment software and services.

“Newport Credentialing Solutions is an exciting addition to our corporate family,” said Trace Devanny, chief executive officer of TractManager. “Newport’s solutions streamline the physician enrollment process and enable the proactive management of the complex credentialing lifecycle. In an increasingly challenging financial environment, Newport’s ability to optimize the provider revenue cycle through enrollment automation is a much-needed solution that immediately impacts the bottom line of physician practices, hospitals, and health systems.”

Since its founding in 2009, Newport has focused on helping providers take control of their credentialing lifecycle, thereby generating more income in less time. Newport views credentialing as an integral part of the revenue cycle, as providers who are not enrolled correctly will not be paid correctly. Newport’s clients include some of the largest academic medical centers, health systems, and multi-specialty group practices in the United States.

“We’re excited to join forces with TractManager,” said Scott Friesen, founder and CEO of Newport Credentialing Solutions. “Enrolling a provider and then maintaining that provider’s enrollment status is challenging. We developed the industry’s first cloud-based workflow, analytics, and business intelligence credentialing platform to overcome that challenge, and I can’t think of a better home for us to continue to evolve our solutions and accelerate our growth and market penetration than TractManager.”

Newport’s customized professional and support services wrap around the proprietary software and maximize the value of the credentialing platform. Donald A. Deieso, Ph.D., Chairman of TractManager’s Board of Directors, and Operating Partner for Arsenal Capital Partners, noted that, “With the addition of Newport to the TractManager family, we continue to advance our mission of building an exceptional organization that can truly transform our healthcare system for the benefit of all.”

About Newport Credentialing Solutions

Newport Credentialing Solutions is the nation’s premier provider of cloud-based, workflow and analytics software, and cloud-enabled services dedicated to the credentialing lifecycle. Newport’s clients include some of the largest academic medical centers, health systems, and multi-specialty group practices in the United States.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs, and government agencies, and MedApproved, a new product approval workflow solution. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.

About Arsenal Capital Partners

Formed in 2000, Arsenal Capital Partners is a leading New York-based private equity firm that invests in specialty industrial and healthcare companies. Arsenal targets businesses with the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Since inception, Arsenal has raised institutional equity investment funds totaling $3 billion.

Contact
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
TractManager, Inc.
(800) 375-5463
sandra.taylor@tractmanager.com

TractManager Announces Appointments of Three New Executives

CHATTANOOGA, TN, DALLAS, TX, BusinessWire. February 27, 2018. TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has announced the recent appointment of three new executives: Patrick Flynn, Chief Technology Officer; Jim Harter, Chief Architect; and Jamie Oakes, Chief Sales Officer.

“The addition of these accomplished executives to our management team puts us in an even stronger position to bring real transformation to healthcare through technology-enabled services, data analytics, and value-based solutions,” said Trace Devanny, CEO of TractManager. “Their expertise in healthcare, technology, sales, and client services will further advance our suite of strategic sourcing and contract management solutions, as we enable healthcare organizations to focus on what they do best: care for patients.”

Patrick Flynn has more than 20 years of C-level experience leading and transforming global technology organizations in the healthcare technology, online media, manufacturing, transportation, and service industries. His specialties include business and technology strategy, technology risk assessment and mitigation, and IT security, strategy, and governance.

Most recently, Flynn served as CEO of Denver-based Aventura Software, and Chief Technology Officer at Phytel, Inc., acquired by IBM in 2015.

Flynn holds a BS degree in Business Administration and Information Technology from San Diego State University.

Jim Harter joined TractManager after serving as Chief Technology Officer at RemitDATA in Plano, Texas. Prior to that, he was a software architect and Director of the Integration Competency Center at Research Now, also in Plano, and was the lead software architect and R&D manager of Texas-based Stryker Imaging.

Harter graduated with Distinction from the United States Naval Academy, where he received a BS degree in chemistry. He also holds an MS degree in physical chemistry from the University of Maryland. He served aboard the nuclear submarine USS Philadelphia for three years as an engineering division officer, watch officer, and communication, operations, and intelligence officer.

Harter holds multiple technology patents for work in developing prospective screening systems, routing algorithms, and the use of NoSQL databases, and has been a consultant to the Department of Defense and Fortune 50 companies.

Jamie Oakes joined the MD Buyline division of TractManager in September 2017 as Senior Vice President of Sales, and became Chief Sales Officer for the Company in January 2018. With more than 24 years of sales and sales management experience in the healthcare arena, he specializes in information technology, operational efficiencies, revenue enhancements, and strategic planning. Working with hospitals, GPOs, managed care organizations, and large healthcare vendors, Oakes has brought significant financial and operational value to his clients.

Oakes began his career with McKesson, then moved to Cerner for six years, where he steadily advanced through the ranks of sales leadership. As Sales Director, he delivered $143M in new sales bookings and $86M in sales margin. Following his tenure at Cerner, he served in leading healthcare technology firms including Craneware, Wolters Kluwer Health, and Recondo.

Oakes received his BBA degree in Marketing from Pittsburg State University in Kansas.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice, compliant contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs, and government agencies, and MedApproved, a new product approval workflow solution. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution, and includes recently acquired Newport Credentialing Solutions. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.

Contact
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
TractManager, Inc.
(800) 375-5463
sandra.taylor@tractmanager.com

TractManager Announces Appointments of Two New Executives

CHATTANOOGA, Tenn. & DALLAS–(BUSINESS WIRE)–TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has announced the recent appointment of two new executives: Graham Barnes, General Manager of the MediTract division, and Rick Solano, Chief Operating Officer of the Newport Credentialing division.

“The addition of these accomplished executives to our management team puts us in an even stronger position to bring real transformation to healthcare,” said Trace Devanny, CEO of TractManager. “Their expertise in healthcare, technology, and client services will further advance our suite of contract management and physician credentialing solutions, as we enable healthcare organizations to focus on what they do best: care for patients.”

Graham Barnes, FACHE, has nearly 30 years of C-level experience transforming organizations in the healthcare technology and communications industries, and more than 10 years as CEO of leading healthcare IT companies including Concerro and Healthwyse. In addition to accelerating the growth of healthcare and information technology companies, Graham’s expertise includes product and strategy development. Most recently, he served as Industry Executive Partner with Inverness Graham Investments, a private investment firm that acquires high-growth, innovative manufacturing, technology, and services companies.
Barnes holds a BS degree in Electrical Engineering from Imperial College, University of London, in the U.K., and an MBA degree from Santa Clara University.
Jake Sorg, TractManager’s Chief Operating Officer and formerly acting General Manager of MediTract, welcomed the addition of Barnes to the company. “I can’t think of a more capable person than Graham to take the reins of our industry-leading CLM solution,” he said. “Graham will further advance our contracting, credentialing, and professional services offerings to meet the most pressing needs of the healthcare market.”

Rick Solano brings nearly 25 years of experience in healthcare IT to the Newport Credentialing division of TractManager. Rick’s expertise includes increasing operational efficiency, quality, and capacity as well as developing new revenue models and growth strategies. Most recently he served for five years as president and founder of Turning Point Business Advisors, where he provided business management consulting services across a variety of industries, including healthcare IT.

Jake Sorg noted, “Rick’s experienced leadership in both domestic and international healthcare technology businesses will be put to good use as we expand our credentialing and CVO solutions across the provider and payer markets.”

Previously Rick was president and CEO of the Institute for Health Metrics and of Mirixa, a pharmacy-based patient care network. Rick also served in executive positions in product marketing and operations at leading healthcare IT companies, including WebMD and QuadraMed.

He received his BA degree in Geography from University of California, Santa Barbara, and his MBA from California Lutheran University.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice, compliant contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs, and government agencies, and MedApproved, a new product approval workflow solution. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution, and includes Newport Credentialing Solutions, the nation’s premier provider of cloud-based workflow and analytics software, and cloud-enabled services dedicated to the credentialing lifecycle. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.

Contact:

TractManager, Inc.

Sandra L. Taylor, Ph.D.

Chief Marketing Officer

800-375-5463

sandra.taylor@tractmanager.com

TractManager Appoints Trace Devanny Chief Executive Officer

Accomplished Industry Leader and Former Nuance Communications, Trizetto and Cerner Executive to Champion Exceptional Customer Engagement and Product Innovation

CHATTANOOGA, TENNESSEE/DALLAS—October 27, 2016/Business Wire — TractManager, the leading provider of powerful healthcare strategic sourcing and compliance application suites announced that it has named Trace Devanny Chief Executive Officer of the company. Devanny will advance the continuing growth of the knowledge based and system solutions TractManager supplies to over 3,000 hospital and provider clients.

Devanny will enhance TractManger’s customer experience across multiple channels including the creation of regional and national client programs; establish an Executive Client Council to advise him on strategic product advancement and technology investments; and direct the continued expansion of TractManager’s strategic sourcing application suite across its client base.

“With its broad and deep industry intelligence, TractManager is uniquely positioned to give hospitals a competitive advantage by leveraging their spending power, and reducing the considerable financial risks associated with non-compliant contracting practices,” said Donald A. Deieso, Ph.D., Chairman of the Board of Directors. “We needed an exceptional leader to harness the power of our solutions and expand their impact across healthcare, and Trace is just that leader.   Recognized and respected throughout the industry, Trace has an impeccable track record of building value, and driving innovation in every company he has served. We are delighted to welcome him to the TractManager family.”

Devanny joins TractManager from his position as President of Nuance Communications’ Healthcare Business, a leading, global provider of voice and language solutions for businesses and consumers. His executive leadership experience spans over 30 years of transitioning mid-size companies into multi-billion dollar, global healthcare corporations. During his three years as Chairman and CEO of TriZetto Corporation, Devanny changed the business model while expanding revenue growth by over 20 percent. In his 14-year tenure with Cerner Corporation, Devanny held several executive positions and served as President for 11 years driving both domestic and global growth. Devanny started his career at IBM and advanced quickly to hold multiple executive positions in its healthcare business. He holds a BA degree from Sewanee- University of the South.

“Trace blends a remarkable understanding of the increasingly complex healthcare environment, with a true desire to help hospitals reduce their costs, and improve their operating efficiencies. We share Trace’s commitment to transforming healthcare, and we’re excited to place our people and solutions in his capable hands,” said Steve McLean, Member of the Board of Directors, and Partner, Arsenal Capital Partners.

About TractManager, Inc.

TractManager’s healthcare-specific strategic sourcing application suite serves the purchasing and contract management needs of two out of three US hospitals. Serving the healthcare industry with integrity for over 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. With divisions in Dallas (MD Buyline) and Chattanooga, Tenn. (MediTract), we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract management to meet regulatory requirements.

TractManager, Inc. Acquires EMTS

CHATTANOOGA, TN, DALLAS, TX. Feb. 13, 2018/Business Wire. TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has acquired Equipment Management & Technology Solutions (EMTS), the leaders in managing capital equipment and service contract negotiations for hospitals and health systems.

“We are delighted to welcome EMTS into our corporate family,” said Trace Devanny, chief executive officer of TractManager. “In addition to their expertise in capital negotiations, EMTS provides hospital supply chains with onsite operational and strategic support, as well as staff augmentation services during peak load times associated with new construction, renovation, mergers, and acquisitions. EMTS complements our MD Buyline solutions, and expands our capabilities to optimize the full sourcing lifecycle of our provider clients.”

Supported by extensive historical data, timely research, and executive-level vendor relationships, EMTS has analyzed more than $3.1B in capital-related purchases, served more than 1,000 healthcare providers, and saved clients over $280M.

“Over the past 17 years, EMTS has negotiated tens of millions of dollars in savings for our clients. We excel at managing capital equipment and service contract negotiations on behalf of our clients, and understand how challenging this critical stage of the capital purchasing lifecycle can be. This is exactly where we provide tangible value to hospitals. We’re excited to add our solutions to the MD Buyline portfolio,” said Charles George, president of EMTS.

About EMTS

Founded in 2001 and based in Littleton, Colo., EMTS uses a proprietary Price Paid database and data-driven quote analysis to deliver process efficiencies and reduced costs across the equipment supply chain, including capital equipment, service contracts, and purchased services. EMTS saves its clients an average of nearly 9% of their current capital costs (acquisition and service contracts) from their best quotes.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs and government agencies, and MedApproved, a new product approval workflow solution. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.

About Arsenal Capital Partners

Formed in 2000, Arsenal Capital Partners is a leading New York-based private equity firm that invests in specialty industrial and healthcare companies. Arsenal targets businesses with the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Since inception, Arsenal has raised institutional equity investment funds totaling $3 billion.

Contact
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
TractManager, Inc.
(800) 375-5463
sandra.taylor@tractmanager.com

TractManager, Inc. Acquires Hayes, Inc.

CHATTANOOGA, TN, DALLAS, TX — November 15, 2017/Business Wire — TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has acquired Hayes, Inc., an industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs, and government agencies.

“We are thrilled to welcome Hayes into our corporate family,” said Trace Devanny, chief executive officer of TractManager. “As a highly respected leader in health technology research and consulting, Hayes uniquely supports providers and payers with the quality, outcomes, and comparative effectiveness data they need to make fact-based decisions.   Hayes deepens our professional services sourcing portfolio, and expands the market opportunities for our contract management solutions.  Adding a significant dimension to each of our MD Buyline offerings, Hayes data is already integrated with our MedApproved product evaluation workflow solution.”

For more than 25 years, Hayes has been empowering clinicians, health plan policymakers, and government agencies in their mission to make sound, unbiased decisions that balance effectiveness, quality, and patient outcomes. Hayes’ payer clients represent 200 million covered lives in the U.S.

“As the founder and CEO of Hayes, Inc., I wanted to secure our future so we could fulfill our mission and vision, and find a good ‘home’ for Hayes and our exceptional team of research scientists and clinicians that would allow all to thrive and grow.  TractManager is that home,” said Winifred S. Hayes, R.N., Ph.D., and A.N.P. “Together, Hayes and the other members of the TractManager family, can truly transform our healthcare system for the benefit of all.”

Donald A. Deieso, Ph.D., Chairman of TractManager’s Board of Directors, and Operating Partner for Arsenal Capital Partners, noted, “Dr. Wini Hayes is a true visionary, who anticipated the need for evidence-based data  to support clinical decisions long before the Institute of Medicine published its recent 2020 goal for 90% of clinical decisions to be driven by evidence-based data. She and her wonderful team have an exceptional understanding of the decision-support needs of payers and providers, and we are proud to support their continued innovation and contributions to healthcare.”

About Hayes

Based in Lansdale, Pa., Hayes is dedicated to the delivery of high-quality healthcare and improved outcomes through the integration of evidence into decision-making and policy development. Unbiased information and comparative-effectiveness analyses enable evidence-based decisions about acquiring, managing, and paying for health technologies. Petsky Prunier Securities LLC acted as exclusive financial advisor to Hayes.

About TractManager, Inc.

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the recently acquired industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs, and government agencies, and MedApproved, a new product approval workflow solution. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.

About Arsenal Capital Partners

Formed in 2000, Arsenal Capital Partners is a leading New York-based private equity firm that invests in specialty industrial and healthcare companies. Arsenal targets businesses with the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Since inception, Arsenal has raised institutional equity investment funds totaling $3 billion.

Contact
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
TractManager, Inc.
(800) 375-5463
sandra.taylor@tractmanager.com

TractManager, Inc. Acquires MedApproved

DALLAS, TX — July 11, 2017/Business Wire — TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has acquired MedApproved, a company providing a SaaS-based, new product approval workflow solution to help hospitals review the thousands of products and services that physicians, nurses and staff request on a yearly basis.

“MedApproved is a natural complement to MD Buyline’s strategic sourcing solution,” said Trace Devanny, chief executive officer of TractManager. “MD Buyline clients will be eager to learn how they can incorporate MedApproved into their sourcing processes to streamline new product evaluations across their hospitals and health systems.”

MedApproved will remain in their current office locations, and all contracts and client agreements held by MedApproved will continue.

“We’re excited to be part of the TractManager family and to be aligned with MD Buyline,” said Tim Hopkins, CEO and co-founder of MedApproved. “My co-founder, John Wills, and I are proud of establishing MedApproved as a leader in product evaluation workflow.  TractManager will enable us to expand the system and our footprint in the hospital market. We look forward to working with our new colleagues as we share the same values and vision for the evolution of MedApproved. We’re entering this new chapter with excitement and great expectations for the future, and remain committed to the high standards of excellence and customer service our MedApproved members have come to expect from us.”

Donald A. Deieso, Ph.D., Chairman of the Board of Directors, added, “With scalable technology and a solution that every hospital needs, MedApproved broadens TractManager’s product and services portfolio, and strengthens our ability to improve our clients’ operational efficiencies.”

About MedApproved

MedApproved provides a SaaS-based system that streamlines the decision-making process for hospital committees reviewing new products and value analysis initiatives.  Serving as a central repository for product requests and capturing all stakeholder analysis, feedback, and communications from internal and external sources, MedApproved increases physician engagement and provides all the necessary tools to facilitate the value analysis workflow. As a result, hospitals can make new product decisions with greater efficiency, transparency and documentation.

About TractManager, Inc.

TractManager’s healthcare-specific strategic sourcing application suite serves the purchasing and contract management needs of three out of five US hospitals. Serving the healthcare industry with integrity for over 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. With divisions in Dallas (MD Buyline) and Chattanooga, Tenn. (MediTract), we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract management to meet regulatory requirements.

About Arsenal Capital Partners

Formed in 2000, Arsenal Capital Partners is a leading New York-based private equity firm that invests in lower middle-market specialty industrial and healthcare companies.  Arsenal makes investments in sectors where the firm has significant prior knowledge and experience.  The firm targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Since inception, Arsenal has raised institutional equity investment funds totaling $3 billion.

TractManager, Inc. Takes Significant Equity Position in BidMed

CHATTANOOGA, TN, DALLAS, TX. March 13, 2018/Business Wire. TractManager, Inc., the healthcare industry’s largest supplier of strategic sourcing and contract lifecycle management (CLM) solutions, has taken a significant equity position in BidMed, a market leader in the acquisition and disposition of healthcare equipment on the secondary market.

BidMed provides current fair-market values on pre-owned capital equipment and medical assets. The company’s proprietary web-based inventory system, auction platform, and supporting mobile app enable clients to accurately inventory, reconcile, and sell assets with ease and efficiency. BidMed has worked with more than 450 clients, including hospitals, surgery centers, transition/equipment planning companies, financial lending institutions, and equipment manufacturers, ensuring that they receive the full value for their capital assets.

“This investment and exclusive partnership with BidMed dynamically extends our MD Buyline strategic sourcing solutions,” said Trace Devanny, chief executive officer of TractManager. “BidMed is an innovative market maker, enabling hospitals to stretch their capital budgets by getting a fair market value for their used equipment.  With options to reinvest those dollars in new capital acquisitions or warrantied, refurbished equipment on the secondary market, hospitals working with BidMed now have both leverage and choice.  Whether buyers or sellers, our clients have an efficient way to manage their capital lifecycle with BidMed.”

Patrick Kelly, chief executive officer and co-founder of BidMed added, “This is a great partnership for BidMed, TractManager, and the clients of both companies. There are great synergies between our cultures, solutions, and commitments to serving clients.  We are agile and entrepreneurial at heart, and eager to drive value for TractManager’s broad client base.”

About BidMed

BidMed LLC is a global marketplace for selling, buying, trading, and renting medical equipment. BidMed sources surplus, inactive, and retired equipment from healthcare facilities around the country, and partners with approved vendors to refurbish and rewarrant the equipment. Powered by innovative technology and proprietary data, BidMed’s services include medical asset valuations, inventory reconciliations, and liquidations. The company was founded in 2012.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first-mover in strategic sourcing and enterprise contract lifecycle management. Our advisory services wrap around each solution component, optimizing purchasing and service category management, while supporting best-practice contracting processes. The company’s strategic sourcing division, MD Buyline, includes Hayes, the industry leader in providing clinically focused, evidence-based research and analysis to health plans, insurers, hospitals, healthcare systems, ACOs and government agencies, and MedApproved, a new product approval workflow solution. The MediTract division supports hospitals and healthcare facilities with an enterprise contract lifecycle solution and includes Newport Credentialing Solutions. Together, we are dedicated to helping our clients reduce their capital and non-labor costs, and conform their contract, policy, and procedure management to meet regulatory requirements.

About Arsenal Capital Partners

Formed in 2000, Arsenal Capital Partners is a leading New York-based private equity firm that invests in specialty industrial and healthcare companies. Arsenal targets businesses with the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Since inception, Arsenal has raised institutional equity investment funds totaling $3 billion. Arsenal acquired TractManager in 2013.

Contact
Sandra L. Taylor, Ph.D.
Chief Marketing Officer
TractManager, Inc.
(800) 375-5463
sandra.taylor@tractmanager.com

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