NexTech Systems Inc. Strengths, Domain Expertise, and Key Differentiators
Nextech is the complete health care technology solution for specialty providers. The company has been focused on delivering intelligent, intuitive, integrated solutions that empower specialty physicians to maximize efficiency, optimize charting accuracy and increase overall practice profitability. The 2017 Nextech release new Revenue Cycle Management Solution to Optimize Billing and Collections. The new Nextech RCM complements the existing suite of Nextech Practice Management and EMR solutions.
NexTech Systems Inc. Recent Developments
In April 2020, NexTech started the rollout of several new features and products to help evolve the provider and patient care experience to combat the disruption caused by the COVID-19 public health emergency. They redirected all development efforts to focus on providing clients with new solutions in three primary areas: Remote Accessibility, Telehealth Virtual Care, Exposure Risk Reduction.
Nextech Systems acquired SupraMed, developer of a web-based practice management system and electronic health record (EHR) built for the unique needs of plastic surgeons. The acquisition further cements Nextech's dominance in the plastic surgery market and demonstrates its commitment to delivering top-tier specialty-specific EHR and practice management solutions.
NexTech Systems Inc. Mergers and Acquisitions (M&A) Activities
In June 2019 Thomas H.Lee Partners LP, which specializes in middle-market growth companies, acquired Nextech from Francisco Partners and its other stockholders. Francisco Partners, a technology-focused private equity firm, made a strategic investment in Nextech in October 2013. The partnership was designed to enhance and support Nextech's infrastructure and growth in medical specialties. Terms of the transaction between Nextech and Thomas H. Lee Partners are not disclosed.
In January 2019 Nextech Systems has acquired EMR solution provider, SRS Health Software LLC. The Montvale, New Jersey-based SRS Health has developed specialized solutions across the ambulatory sector with a particular focus on Orthopedic practices. The strategic acquisition will expand Nextechâ€™s specialty physician focus beyond its core ophthalmology, dermatology and plastic surgery focus. The acquisition will result in Nextech servicing more than 10,000 providers across specialty ambulatory physician markets and solidifies Nextech's position as a premier provider of specialty healthcare technology solutions.
NexTech Systems Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying NexTech Systems Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of NexTech Systems Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified NexCloud, customers.
NexTech Systems Inc. Overview
Ownership: - x
Number of Employees: 350
Key Verticals: Healthcare,
NexTech Systems Inc. Key Enterprise and Cloud Applications
NexTech Systems Inc. Revenues, $M:
|Type/Year||2018||2019||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
NexTech Systems Inc. Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe|
NexTech Systems Inc. Enterprise Applications Revenues By Functional Markets, $M:
NexTech Systems Inc. Enterprise Applications Revenues By Verticals, $M:
NexTech Systems Inc. Revenues By Region, $M
|Region||% of Total Revenues||2019 Total Revenues, $M||2019 Enterprise Applications Revenues, $M||2019 Cloud Applications Revenues, $M|
NexTech Systems Inc. Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
NexTech Systems Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of NexTech Systems Inc. Customers: 9000
No. of NexTech Systems Inc. Enterprise Applications Customers: 9000
No. of NexTech Systems Inc. Cloud Customers: x
No. of NexTech Systems Inc. Cloud Subscribers: 50000
Nextech services more than 9,000 physicians and over 50,000 office staff members in the clinical specialties of Ophthalmology, Dermatology and Plastic Surgery. Among Nextech customers are Kremer Eye Center, Long Island Plastic Surgical Group and others.
NexTech Systems Inc. Market Opportunities, M&A and Geo Expansions
In November 2019, Nextech Systems partnered with Encoda, a leader in healthcare reimbursement automation and revenue cycle management tools and services. This partnership enables Nextech to bring greater performance into the revenue cycle for clients through consolidated, patented claims rejection and denial management software, robust dashboard reporting, analytics and customizable RCM services performed by experienced medical claim associates. Through this partnership, Nextech and Encoda aim to tackle ongoing RCM challenges faced by specialty practices, including collecting payments in a timely manner, effective claims scrubbing, rejection and denial management, and more.
In March 2019 Nextech Systems has partnered with Relatient, a provider of patient engagement technology. This partnership will allow Nextech's network of clients to utilize Relatient's suite of products for patient-centered engagement which has a track record of reducing costs, improving the patient journey and growing revenue for all sizes of practices.
All Nextech specialties including Ophthalmology, Dermatology, Plastic Surgery, and Orthopedics will have the ability to rely on Relatient to manage appointment communications through text, email and or voice with built-in best practices, all compliant to HIPAA and TCPA regulation. Integrating Nextech's Practice Management with Relatient's next-generation platform, specialty physician practices will see an increase in productivity and revenue while continuing to provide patient-centered care.
NexTech Systems Inc. Risks and Challenges
Nextech's migration to the Cloud appears to be gathering momentum and ensuring customer success will be the key.
NexTech Systems Inc. Ecosystem, Partners, Resellers and SI
In April 2019, Luma Health and Nextech Systems have partnered to enhance patient engagement and boost practice revenue. This partnership gives Nextech customers access to Luma Health's innovative capabilities, including Smart Conversations with patients, Intelligent Scheduling and automated Referral Management. Nextech's network of clients can now utilize Luma Health's patient engagement platform to better engage their patients in their own care while freeing physicians to spend more quality time administering care. All of Nextech's specialty medical practices including ophthalmology, dermatology, plastic surgery, and orthopedics will have the ability to rely on Luma Health to manage engagement across the patient journey, including intelligent scheduling, automated referral management, mobile-first patient communications, reputation management and virtual collaboration with other physicians.
In August 2018, Nextech Systems partnered with Solutionreach and SkinIO. The partnership with Solutionreach allows Nextech's customers to use Solutionreach's patient management package, enabling them to provide a better patient experience and increase earnings from practice. On the other hand, the recent partnership with SkinIO, allows Nextech's dermatology clients to integrate with the latest technology in healthcare that provides a fast and easy in-office full-body imaging system.
Nextech partners include TriZetto Provider Solutions, Intuit, CardConnect, DrFirst, Legacy Health Group, RxPhoto, MyMedLeads, ConnectOnCall, DoctorConnect, TSYS, PatientPop, Concord Fax, CellTrust, NewCorp, Nuance, BirdEye and Advantage Administration, Inc.
NexTech Systems Inc. Cloud Infrastructure Insights
Subscribe to read more about:
- NexTech Systems Inc. Public Cloud and Infrastructure (IaaS)
- NexTech Systems Inc. Platform (PaaS)
- NexTech Systems Inc. Application Delivery
- NexTech Systems Inc. Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:https://www.appsruntheworld.com/About Us
Copyright © 2021, APPS RUN THE WORLD