TARRYTOWN — The Affordable Care Act’s mandates are creating big opportunities for a local medical software developer.
On Thursday, OmniMD will launch three new products to facilitate document sharing, patient treatment and payments.
“You should be able to connect to disparate systems to get data,” said Divan Dave, OmniMD’s chief executive officer, describing one of his new products. “For example, an oncologist is using a different system and his patient was admitted to White Plains Hospital and the data is there. How do you extract the data and give one view? That’s what OmniXchange is for.”
OmniMD is releasing its products in response to the Affordable Care Act, the 2010 government overhaul of the health-care system designed to expand health insurance coverage and reduce costs. Besides OmniXchange, the other two new products are OmniRCM for revenue cycle management and OmniACO, an integrated suite of OmniMD’s new and existing products for accountable- care organizations that are regulated by the Affordable Care Act.
About 11,000 medical providers use software created by OmniMD, which launched in 2001 after Dave and his wife, Nili, determined that the medical sector wasn’t adequately transitioning to electronic records. Their hunch led to a business that has grown 50 percent in the past two years and that last year had about $8.2 million in sales, said Dave, 51, of Briarcliff Manor.
OmniMD is a division of Integrated Systems Management, an information technology services company Dave founded in 1989. The company employs 28 people in 5,000 square feet at 303 S. Broadway, plus more than 175 staffers working on software development in the Indian state of Gujarat.
Dave, a Gujarat native, immigrated to the United States in 1984 with degrees in organic chemistry and computer science. After obtaining a third masters degree in computer information systems from Baruch College, he began designing financial software.
While new OmniMD’s products target doctors, Dave said patients would benefit from the new government mandates for doctors.
“You will have protocols on how to treat (a) condition,” said Dave, whose software tracks protocol completion. “That is accountable care, so the patient is the winner.”