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Valant Medical’s Mental Health EHR Closes $937,000 in Funding

Posted on December 13, 2011 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

The money continues to flow into healthcare IT. Today’s announcement is an interesting funding, because it’s for a pretty niche healthcare IT product. Geek Wire announced that Valant Medical Solutions has closed a $937,000 angel round of funding.

Valant Medical Solutions, which has developed software to help psychiatrists manage billing and electronic medical records at their practices, has scored $937,000 in financing in an oversubscribed round, according to a SEC filing. The deal follows a $1 million round last December.

The timing was interesting since I’d been recently interacting with Valant Medical about possibly advertising across my network of EMR and EHR websites. I’m guessing a good portion of this new funding will go towards marketing their product and increasing their brand recognition.

As someone who has implemented an EMR in the mental health space, I can assure you that it’s quite different from a traditional EMR implementation. A simple example is the way a mental health counselor diagnosis. In mental health they use DSM IV as opposed to ICD-9, but the diagnosis also doesn’t usually change with every visit like it often does in most healthcare offices. Long story short, I think there’s definitely space for a behavioral health EMR to satisfy the unique needs of psychiatrists and counselors.

In the above linked article, I found this comment by David Lischner, founder of Valant Medical, quite interesting:

Our world domination strategy starts: “First with gaining market share, then connecting patients and providers, and lastly with providing a platform for transforming health care service delivery. Network effects will help us sustain market power as we add value to and extract revenue from all types of transactions within behavioral health care.”

I hope that Valant Medical makes it to the second and third things he mentioned. That’s when things should get really interesting.

Behavioral Health EMRs: A Small Sampling

Posted on February 8, 2011 I Written By

Anne Zieger is veteran healthcare consultant and analyst with 20 years of industry experience. Zieger formerly served as editor-in-chief of FierceHealthcare.com and her commentaries have appeared in dozens of international business publications, including Forbes, Business Week and Information Week. She has also contributed content to hundreds of healthcare and health IT organizations, including several Fortune 500 companies. Contact her at @ziegerhealth on Twitter or visit her site at Zieger Healthcare.

In theory, any medical practice-friendly EMR could be adapted for use in a behavioral health setting.  (That’s my theory, at least.)  But as with other specialties, there’s a growing list of vendors who are offering EMRs focused on behavioral health.

Since we’re not finding any comprehensive sources of such vendors out there, we thought we’d share a  very small sampling of those we could find and see if you have any feedback. Yes, there’s probably of hundreds of vendors who claim to support psych, but we hope these few help to start a discussion.

If our quick look is any indication, there’s no single model or feature set that’s won over the psych marketplace.  Here’s hoping it matures soon;  right now my guess is that these would be a nightmare to integrate into a shared HIE.

Are any of you using an EMR specific to behavioral health? How is it working out? Have we left any important vendors out (including non-specialized platforms which seem to work well in psych settings)?

We look forward to your feedback!

-Anne

* Acrendo (http://www.acrendo.com/psychiatry-emr)  Tablet PC-based EMR.   Features include mental health templates, appointment setting, Dragon-based dictation and e-prescribing.

* ICANotes (http://www.icanotes.com/) Web-based EMR focused on psychiatry/psychology practice. Supports sub-specialities, including child/adolescent, substance abuse, eating disorders and geropsychiatry.

* OmniMD Psychiatric EMR (http://www.omnimd.com/html/SpecialtyPsychiatry.html) Includes mental health intake and depression/anxiety exam.

* Psychnotes EMR (http://www.psychnotesemr.com/)  Available as hosted or installed solution. Company specializes in psychiatric products. Supports speech and handwriting recognition.

* Psytech Solutions (http://www.psytechsolutions.com)  Offers Epitomax, a hosted EMR whose features include scheduling and billing.

*  Sigmund Software (http://www.sigmundsoftware.com)  Described as “an enterprise management software application for human service agencies.” Features include target behavior tracking.

*  Valant Psychiatric EMR (http://info.valantmed.com/) Hosted EMR also featuring billing and e-prescribing.

* Qualifacts (http://www.qualifacts.com/)