WellSky, a leading U.S. healthcare technology company, has officially announced its acquisition of Corridor, a comprehensive technology-enabled service platform focused on addressing challenges in the post-acute care industry. This strategic move is designed to support care providers in improving their efficiency and overall performance in clinical, financial, operational, and compliance aspects.
Key points about the acquisition of Corridor by WellSky:
- Enhancing Post-Acute Care: WellSky’s acquisition of Corridor aims to provide post-acute care organizations with tools and solutions to succeed in a challenging healthcare landscape. The goal is to support providers in delivering quality care while reducing administrative burdens.
- Strategic Partnership: WellSky views Corridor as an ideal partner to strengthen its services offerings. Together, they aim to help post-acute care organizations tackle industry challenges and achieve their goals.
- Corridor’s Mission: Corridor, with over three decades of experience, has been dedicated to enabling clients to optimize their performance through technology-based solutions. The company’s mission aligns with WellSky’s focus on improving outcomes, reducing costs, and enhancing patient and family satisfaction.
- Expanded Service Portfolio: With the integration of Corridor into its portfolio, WellSky intends to broaden its range of services, particularly in the areas of medical coding and revenue cycle management. This expansion is expected to enhance the support and resources available to healthcare providers.
WellSky is known for its software, analytics, and services that span the healthcare and community care spectrum. The company empowers various stakeholders, including providers, payers, health systems, and community organizations, to streamline processes, enhance collaboration, leverage data analytics, and improve outcomes by integrating clinical and social care.
Corridor, on the other hand, is a well-established entity in the post-acute healthcare sector, offering technology-driven outsourced coding, revenue cycle, and educational solutions. The company specializes in improving documentation quality and achieving better reimbursement outcomes for clients, including large health systems, national chains, and smaller independently managed agencies.
This acquisition signifies a strategic move within the healthcare technology industry, with the aim of supporting post-acute care providers in navigating the complex landscape and delivering high-quality care while managing operational and financial challenges.
