Greenway Health’s mission is to enhance healthcare delivery by providing innovative information solutions that enable providers and their organizations to function at their highest level of efficiency.
In 1977 Medical Manager Corporation developed the first medical practice management software, called Medical Manager. In 2000 the company was purchased by Healtheon (now known as Emdeon). Emdeon expanded its capabilities so that Medical Manager provided electronic health records (EHR) and other features for healthcare providers.
In 2006 Sage Group bought Medical Manager from Emdeon for $65 million and renamed it Sage Software Healthcare. Later that year it received venture capital funding in the amount of $22 million. In 2011, Sage Group was acquired by Vista Equity Partners for $320 million and rebranded Vitera Healthcare Solutions.
In 2013 Vitera purchased SuccessEHS, a provider of PM and EHR solutions with integrated medical billing services. Later that year Vista Equity Partners acquired Greenway Medical Technologies, an EHR vendor, and combined it with SuccessEHS and Vitera. The new entity was called Greenway Health, and it now offers a wide range of health information technology (HIT) solutions.
Business model of Greenway Health
Greenway Health has a niche market business model, with a specialized customer segment. The company targets its offerings at hospitals, clinics, and ambulatory healthcare practices.
Greenway Health offers two primary value propositions: performance and brand/status.
The company demonstrates strong performance through tangible results. Specific positive outcomes for clients include the following:
- Colonial Healthcare used Greenway Health’s solutions to improve patient outcomes and satisfaction and increase revenues by 10%
- Potomac Obstetrics & Gynecology used Greenway Health’s solutions to dramatically reduce A/R days and improve collection percentages
- Lake Shore Obstetrics & Gynecology used Greenway Health’s solutions to increase monthly gross charges and reduce days in A/R to an average of two days
The company has established a strong brand due to its success. It claims to have a 10% share of the ambulatory healthcare IT market. It has over 75,000 provider clients representing over 40 specialties, which means its solutions impact over 100 million patients‘ lives. Lastly, it has won many honors, including:
- The Enabling Technology Leadership Award for the U.S. Ambulatory Electronic Health Record Market from Frost & Sullivan
- Top rankings in the Electronic Health Record-Based Solutions category in the Black Book 2015 Survey for Primary Care
- Recognition as a Top 10 Most Innovative Georgia Technology Company by the Technology Association of Georgia
- Recognition as one of the Best Software Companies to Work For in 2015 by Glassdoor
- Recognition as one of the Most Interesting Health IT Vendors to Watch by Healthcare Informatics
Greenway Health’s main channel is its direct sales team. The company promotes its offerings through its website, social media pages, and participation in industry events such as conferences.
Greenway Health’s customer relationship is primarily of a self-service, automated nature. Customers utilize its solutions while having limited interaction with employees.
The company’s website features a “Knowledge Center” section that includes useful resources such as white papers, case studies, eBooks, and webinars.
The site also has an online calculator that customers can use to determine the potential return on investment and total cost of ownership for its solutions. Despite this orientation, there is a personal assistance component in the form of phone and e-mail support.
Greenway Health’s business model entails designing and developing its solutions for customers.
Greenway Health’s key partners are the organizations that offer their third-party solutions within its online marketplace for use by its customers. The solutions can be integrated into its platforms.
Specific partners include: ABT Medical, Bravepoint, Century Payments, Demandforce, Entrada, Fogo Data Centers, GSG Compliance, HealthAsyst, Innovative Billing, Studycast, and Trizetto.
Greenway Health’s main resources are its human resources, who include the engineers that design and develop its solutions, the sales employees that promote them, and the customer service employees that provide support.
It has relied on funding from outside sources, raising $22 million from one investor as of November 2006.
Greenway Health has a cost-driven structure, aiming to minimize expenses through significant automation. Its biggest cost driver is likely sales/marketing, a fixed cost. Other major drivers are in the areas of customer support/operations and administration, both fixed costs.
Greenway Health has one revenue stream: revenues it generates from the fees it charges to customers for subscriptions to gain access to its solutions.