IDX Systems

IDX Systems Corporation was a healthcare information-technology company founded in 1969 in Vermont by Robert Hoehl, Richard Tarrant, and Paul Egerman. The company developed software for physician groups, hospitals, integrated delivery networks, and radiology departments, with products spanning clinical administration, scheduling, billing, collections, financial management, and diagnostic-imaging workflow. IDX's original and most important application was Flowcast, a revenue-cycle management platform designed for medium-to-large physician groups, hospitals, and integrated delivery networks. It combined functions such as appointment scheduling, billing, and collections. The system was written in the MUMPS programming language and operated on InterSystems Caché. IDX also offered Groupcast, a financial-management product aimed at smaller and medium-sized provider organizations, and Carecast, an integrated clinical and financial system used primarily by large hospitals and medical centers. Carecast had its origins in Lastword, a system developed by Seattle-based PHAMIS during the 1980s. IDX acquired PHAMIS in 1997 and subsequently marketed the product under the Carecast name. Its technology used a combination of COBOL, TAL, C, and Java and ran on Tandem, also known as NonStop, computer systems. A regionalized version was used at University College Hospital in London. The company's fourth principal product line was Imagecast, a radiology information system intended to support filmless radiology operations and image-based workflow. This portfolio gave IDX exposure to both the administrative and clinical sides of healthcare delivery, rather than limiting the company to a single electronic-record or billing application. IDX became the subject of a major strategic transaction when GE Healthcare announced on September 29, 2005, that it would acquire the company for $44 per share in a transaction valued at approximately $1.2 billion. The acquisition was completed on January 4, 2006. After the transaction, GE Healthcare renamed and integrated several IDX products into its Centricity portfolio. Flowcast became Centricity Business, Groupcast became Centricity Group Management, and Carecast became Centricity Enterprise. Imagecast was marketed and supported by GE as Centricity RIS-IC. IDX ceased to operate as an independent company after the GE transaction. GE Healthcare later announced in 2015 that it would sunset Centricity Enterprise. In 2018, GE sold a portion of the former IDX business, together with other software assets, to private-equity firm Veritas Capital. The resulting company was named Virence. In 2019, Virence was merged into athenahealth, which became the later corporate home of some of the former IDX software assets. IDX is therefore best understood as a former healthcare-software company whose products continued through successive changes of ownership and branding rather than as an active standalone brand.

IDX Systems Corporation was established in 1969 by Robert Hoehl, Richard Tarrant, and Paul Egerman. Based in South Burlington, Vermont, the company became a supplier of information systems for healthcare organizations. Its business developed around the operational and financial complexity of medical practices, hospitals, and integrated delivery networks, with products supporting activities such as scheduling, billing, collections, clinical administration, and radiology workflow. Flowcast was IDX's original application and became the central product in its portfolio. It was a revenue-cycle management system for medium-to-large physician groups, hospitals, and integrated delivery networks. The application included scheduling, billing, and collections functions and was implemented using the MUMPS programming language on InterSystems Caché. IDX also developed Groupcast, which addressed financial management for small-to-medium-sized provider groups. IDX expanded its hospital capabilities through the acquisition of PHAMIS, Inc., a Seattle-based company whose Lastword system had been developed during the 1980s. IDX acquired PHAMIS in 1997 and rebranded Lastword as Carecast. Carecast served large hospitals and medical centers as an integrated clinical and financial application. Its underlying technology incorporated COBOL, TAL, C, and Java and ran on Tandem or NonStop computer hardware. A regionalized Carecast version was used at University College Hospital in London, demonstrating the product's use outside the United States. The company's product range also included Imagecast, a radiology information system designed to facilitate filmless radiology image workflow. Together, Flowcast, Groupcast, Carecast, and Imagecast represented IDX's principal pre-acquisition business lines. They covered both administrative functions, such as financial management and revenue collection, and clinical or diagnostic workflows. On September 29, 2005, GE Healthcare announced that it would acquire IDX for $44 per share. The transaction was valued at approximately $1.2 billion and was completed on January 4, 2006. The acquisition ended IDX's independent corporate life and brought its applications into GE Healthcare's software operations. GE renamed Flowcast as Centricity Business, Groupcast as Centricity Group Management, and Carecast as Centricity Enterprise. Imagecast was marketed and supported as Centricity RIS-IC. The former IDX products subsequently followed different paths within GE Healthcare's portfolio. In 2015, GE Healthcare announced that it would sunset Centricity Enterprise, the successor to Carecast. In 2018, GE sold a portion of the former IDX business, together with other software assets, to Veritas Capital. The acquired assets were organized under the name Virence. In 2019, Virence was merged into athenahealth. As a result, IDX's legacy was carried forward through renamed products and successor organizations rather than through an active IDX corporate entity.

• 2019

  Virence merges into athenahealth

  [1]IDX Systemsen.wikipedia.org

  Virence was merged into athenahealth, creating a later corporate successor for part of the former IDX software portfolio.

• 2018

  Former IDX assets transferred to Veritas Capital

  [1]IDX Systemsen.wikipedia.org

  GE sold part of the former IDX business and other software assets to Veritas Capital, which formed Virence.

• 2015

  Centricity Enterprise sunset announced

  [1]IDX Systemsen.wikipedia.org

  GE Healthcare announced plans to sunset Centricity Enterprise, the successor product to IDX's Carecast system.

• 2006

  Acquisition completed

  [1]IDX Systemsen.wikipedia.org

  General Electric completed its acquisition of IDX Systems on January 4, 2006.

• 2005

  GE Healthcare announces acquisition

  [1]IDX Systemsen.wikipedia.org

  GE Healthcare announced a proposed acquisition of IDX at $44 per share, with an announced transaction value of approximately $1.2 billion.

• 1997

  Acquisition of PHAMIS

  [1]IDX Systemsen.wikipedia.org

  IDX acquired Seattle-based PHAMIS, bringing the Lastword hospital system into its portfolio and later rebranding it as Carecast.

• 1969

  IDX Systems is founded

  [1]IDX Systemsen.wikipedia.org

  Robert Hoehl, Richard Tarrant, and Paul Egerman founded IDX Systems in Vermont as a healthcare software company.

IDX Systems positioned itself as a healthcare information-technology provider serving physician groups, hospitals, integrated delivery networks, and radiology departments. Its portfolio combined revenue-cycle, financial, clinical, and diagnostic-imaging applications, with products designed for organizations ranging from smaller provider groups to large medical centers.

• Revenue-cycle management

  Flowcast

  Flowcast was IDX's original application and a revenue-cycle management system for medium-to-large physician groups, hospitals, and integrated delivery networks. It supported scheduling, billing, and collections. The product was written in MUMPS and ran on InterSystems Caché. After GE acquired IDX, Flowcast was renamed Centricity Business; the product is now associated with athenahealth's successor assets.

• Provider financial management

  Groupcast

  Groupcast was IDX's financial-management system for small-to-medium-sized healthcare provider groups. It addressed the administrative and financial needs of organizations smaller than the typical Flowcast customer base. GE Healthcare renamed it Centricity Group Management after the acquisition of IDX, and the related product assets later became part of the successor portfolio associated with athenahealth.

• Hospital clinical and financial system

  Carecast

  Carecast was an integrated clinical and financial application used primarily by large hospitals and medical centers. IDX obtained the system through its 1997 acquisition of PHAMIS, where it had previously been known as Lastword. The software used COBOL, TAL, C, and Java and ran on Tandem or NonStop hardware. GE renamed it Centricity Enterprise and announced its sunset in 2015.

• Radiology information system

  Imagecast

  Imagecast was a radiology information system designed to support filmless radiology image workflow. Following the GE acquisition, it was marketed and supported as Centricity RIS-IC. The system represented IDX's diagnostic-imaging offering alongside its physician-practice and hospital-management products.

• 2015

  Sunsetting of Centricity EnterpriseStrategy

  Background

  Centricity Enterprise was GE Healthcare's renamed version of IDX Carecast, a hospital clinical and financial system.

  Action taken

  GE Healthcare announced that it would sunset Centricity Enterprise.

  Aftermath

  The decision marked the planned discontinuation of a major hospital-system successor to the Carecast product line.

  Source

• 2005

  Agreement to sell IDX Systems to GE HealthcareM&A

  Background

  IDX operated across several healthcare software categories, while GE Healthcare was expanding its healthcare technology and information-systems portfolio.

  Action taken

  GE Healthcare announced an agreement to acquire IDX for $44 per share in a transaction valued at approximately $1.2 billion.

  Aftermath

  The transaction closed on January 4, 2006. IDX ceased to operate independently, and its products were renamed within GE Healthcare's Centricity portfolio.

  Announced transaction value. $1.2 billion (2005 announcement)

  Source

1. 1IDX Systemsen.wikipedia.org