Athena Technology Acquisition Corp Cl A (ATHN)

Description:

Athenahealth, Inc. is a provider of Internet-based business services for physician practices. The company's service offerings are based on four integrated components: its proprietary Internet-based software, its continually updated database of payer reimbursement process rules, its back-office service operations that perform administrative aspects of billing and clinical data management for physician practices, and its automated and live patient communication services. The company's services are designed to help its clients achieve faster reimbursement from payers, reduce error rates, increase collections, lower operating costs, improve operational workflow controls, improve patient satisfaction and compliance, and more efficiently manage clinical and billing information. The company's main offering, athenaCollector, automates and manages billing-related functions for physician practices and includes a medical practice management platform. It has also developed a service offering, athenaClinicals that automates and manages medical record-related functions for physician practices and includes an electronic medical record, or EMR, platform. ReminderCall, the newest offering from the company, is an automated appointment reminder system that allows patients to either confirm the appointment or request rescheduling. Athenahealth plans on combining ReminderCall with test result, prescription refill, collection, and other patient communications offerings in its athenaCommunicator services suite that it expects to beta launch in 2009. The market opportunity for its services is, in large part, currently driven by physician office collections in the United States. The Company has developed a sales and marketing capability aimed at expanding its network of physician clients and expect to expand these efforts in the future. It has a significant direct sales effort, which it augments through its indirect channel relationships.