MEDfx, a privately held health care software technology firm headquartered in Warwick, has added 22 new staff members in the last year, a sign of its success. The company, one of a number of Rhode Island-based software firms involved in electronic health records and health information technology, was first established in 1984 to assist federally funded qualified health centers automate their organizations.
The Providence Business News asked MEDfx CEO Colin P. Barry to discuss the reasons for his company’s continued growth in a competitive marketplace.
PBN: MEDfx has recently hired 22 new employees, a sign of growth. What has made your health software company so successful?
BARRY: Being an agile company with 26 years of experience in developing health care software, MEDfx recognized early on that the [current] health care delivery system was economically unsustainable. We further understood that the vision of accelerating the adoption of electronic medical records would take the U.S. a long way in its goal to improve health care while also reducing costs. It was clear early on that securely exchanging electronic medical records between disparate organizations on a national level was the key to realizing the benefits of health IT. Early execution on this vision has positioned us for growth and success.
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PBN: MEDfx has been working on a project with Dominion Medical Associates in Virginia to convert paper directly into digital files. How will this speed the adoption of electronic health records?
BARRY: By streamlining the process at Dominion, the associated cost and time savings results in increased capability. This reinforces the efficacy of the solution and produces momentum for further adoption in the community.
In Dominion’s case, they are exchanging data through a health information exchange, so the data immediately becomes a part of the community patient’s record. The key here is eliminating the flow of paper-based medical records between organizations and providing incremental steps to adopt new technology that is not disruptive to a physician practice.
PBN: What role does Verizon play as a partner in this effort?
BARRY: Verizon is a global leader in cloud computing and security services that offer a comprehensive health information exchange solution, powered by MEDfx software. Verizon’s role in the pilot is to provide this solution, demonstrating the secure exchange of electronic medical records using the emerging standards for the nationwide health information network.
PBN: What are the next markets you are targeting for growth beyond Virginia?
BARRY: We are currently working with customers in other states and have attracted the attention of state health agencies whose government-approved plans require the capabilities of our solution. State health information exchange programs are grant-funded and require annual approval for alignment with federal technology objectives. Since our solution satisfies these objectives, we provide great value to this market.
PBN: As a Rhode Island-based company, what have been the advantages of being located here? Are you seeking to create a higher profile?
BARRY: Rhode Island and the entire Northeast medical corridor are a terrific area in which to develop health care software. In addition to the technical resources we have here, we have an abundance of younger physicians who understand technology and who are quick to provide the input we need to develop software solutions, for today and the future.
As a result of these factors, Rhode Island is emerging as a leader in health IT through a number of high-profile pilot programs, which have distinguished our state in the national health care technology movement.
