Business Backed by a Substantial Seven-Figure Investment Led by
Midwest Venture Capital Company
Additional Resources to be Used to Accelerate and Strengthen
Future Health Services; Fuel Development
(DES MOINES, IA) Future Health Acquisition Inc., the leading electronic health records (EHR) and practice management software company (eConnect and Virtual Office Suite) for Doctors of Chiropractic, announced today it has received the backing of a substantial seven-figure investment led by Midwest venture capital companies, including funds managed by Bluestem® Capital Company.
Future Health Founder and CEO Dr. Steven J. Kraus stated that the venture capital companies’ investment will largely be used to drive continued development of eConnect software, continue Future Health’s impressive growth and better serve customer needs by expanding the service and training departments.
eConnect is Cloud-based EHR software that uses cutting-edge technology to greatly improve user experience. Future Health is the first and only company that specializes in EHR software for DCs to offer free software. The free base software includes all the basics for integrated EHR/practice management: scheduling; documentation; EHR; billing; and patient education. To see a demo, register at www.FutureHealthSoftware.com/webinar.
Doctors can then customize their free software with affordable Apps; more than 25 Apps are currently available. Future Health will continually develop Apps for efficiency, specialties, techniques and a guaranteed EHR/ARRA Certification App to help DCs qualify for up to $44,000.
Bluestem Capital Company: “We believe in the eConnect strategy”
“Future Health is an established leader in the Chiropractic software space,” said Steve Kirby, founding member and president of Bluestem Capital Company. “Their Virtual Office Suite software has consistently been the benchmark for all other Chiropractic software since its development in 2005.”
Kirby continued, “What they’re doing with eConnect is truly the future of the EHR software industry, because doctors can choose—and pay for—only the functionality they want and that suits their clinic.
This innovative strategy is made possible by the use of a new technology platform, not unlike that of smartphones with App choices, where the software must be properly designed to enable the subsequent ‘App Explosion.’
“eConnect software is ahead of every other software in the Chiropractic EHR space, resulting in a product that’s perfectly suited to DCs. And essentially, this approach opens the door for every DC to own quality EHR/practice management software—from newly established practices to large, multi-doctor clinics—by replacing high-cost software and in-clinic servers with a much more affordable and easy-to-use approach.”
Kirby also said, “We believe in the eConnect strategy. The software is impressive, the management team of the company is solid under Dr. Kraus’ leadership, and they’ve built an impressive development team to create new Apps based on market needs. Now—with investment—the company can more quickly and fully meet the needs of the Chiropractic profession.”
Future Health Planning to Continue Growth; Begin “App Explosion”
“We’re excited about the opportunities this acquisition brings, and we’re proud that the business of Future Health will be backed by Bluestem Capital Company,” said Future Health Founder and CEO Dr. Steven J. Kraus. “Bluestem is a large Midwest venture capital company that’s very familiar with Chiropractic, having invested in several high-profile Chiropractic companies already. They truly understand the unique needs of the profession.”
Added Kraus, “This will enable the business of Future Health to maximize its infrastructure and continue toward the App Explosion.
“We’ve had a record number of DCs choose eConnect for their EHR/practice management solution, and that shows our model to make quality software available to every DC is sound. But with such impressive growth, Future Health’s infrastructure has, at times, been tested. As a result of the resources of the new company, Future Health will now be able to make improvements that will greatly and consistently benefit eConnect users and usability.”
Future Health Expects its Products to Receive Complete EHR Certification by the End of July
Future Health was the first Chiropractic software business to guarantee Complete ARRA Certification. “We chose to pursue Complete Certification for our software because that’s what doctors need in order to be eligible for up-to-$44,000 in ARRA incentives,” said Kraus.
Kraus went on to say that Future Health submitted its eConnect and Certified Virtual Office Suite products for Complete Certification and expects to receive Complete EHR ONC-ATB Certification from the government by the end of July, allowing plenty of time for users to establish meaningful use with its software to qualify for 2011 ARRA incentive money.
Deadlines for 2011 Incentive Dollars Approaching
For 2011, doctors must install and demonstrate meaningful use for only 90 days, making the October through December timeframe the last period to qualify during 2011 for the first payment of up to $18,000. Future Health was the first to advocate for DCs to be included in the ARRA incentive, leading to CMS specifically designating Chiropractic as one of the five authorized professions to be eligible for up to $44,000 in Medicare EHR Incentives.
About Future Health
Future Health is the nation’s leading provider of Chiropractic-specific practice management software. Future Health was originally owned and operated by Future Health, Inc., founded in 1991 by Steven J. Kraus, DC, DIBCN, CCSP, FASA, FICC. More than 20 years in practice management allowed Dr. Kraus a unique perspective into what it takes to operate a clinic efficiently, having developed and sold 18 practices of his own and provided strategic consulting services to more than 400 healthcare businesses across the country. Substantially all of Future Health, Inc.’s assets were recently acquired by Future Health Acquisition, Inc., but continue to be operated under the trade name Future Health.
To request more information about Future Health eConnect, visit www.FHeConnect.com or call Toll Free 1-888-434-7347. See it for yourself by signing up for a no-obligation demo at www.FutureHealthSoftware.com/webinar.
About Bluestem Capital Company
Bluestem Capital Company is a Sioux Falls, SD-based private equity firm. Since 1996, Bluestem has been a regional leader in helping investors realize excellent returns, in helping worthy companies reach their potential and in helping strengthen communities by stimulating their economy.