Here are 20 revenue cycle management mergers, acquisitions and partnerships reported by or shared with Becker's in 2023:
1. R1 RCM is acquiring revenue cycle management company Acclara from Renton, Wash.-based Providence for $675 million. At the closing of the deal — expected in early 2024 — Acclara and Providence will enter into a 10-year agreement for the company to provide comprehensive RCM services for the health system.
2. Olive AI sold off its units to Waystar and Humata and shut down. Waystar acquired the company's clearinghouse and patient access business units. Humata acquired Olive AI's prior authorization business unit.
3. Healthcare software company WellSky acquired Corridor — which provides coding and revenue cycle platforms for the post-acute sector — from HealthEdge Investment Partners, a healthcare-focused private equity firm.
4. CPSI acquired Viewgol, which provides ambulatory RCM analytics and complementary outsourcing services, according to an Oct. 16 CPSI news release.
5. Access Healthcare, a revenue cycle management and healthcare services company, on Oct. 12 acquired Envera Health, which specializes in patient engagement services.
6. Alpha II acquired RCxRule, a healthcare revenue cycle automation company, according to an Oct. 3 Alpha II news release.
7. Aspirion acquired Infinia ML, an artificial intelligence and machine learning company, on Sept. 12. 7.
8. Ensemble Health Partners completed the divestiture of its Odeza patient engagement business to TeleVox on Sept. 6.
9. Waystar acquired enterprise patient payment platform HealthPay24 on Aug. 3. HealthPay24 facilitates the financial transactions of about 26 million patients.
10. Ventra Health acquired ArcMed, an India-based billing and automation services organization, according to a July 18 Ventra news release.
11. Aspirion on July 13 acquired Continuum Health Solutions, a motor vehicle accident and third-party liability revenue cycle management company.
12. Med-Metrix acquired Tritech Healthcare Management June 6. Tritech provides workers' compensation and no-fault billing services to more than 40 hospitals and other entities.
13. Private equity firm TA Associates signed a definitive agreement May 25 to make a significant growth investment in revenue cycle management company Alpha II. As part of the transaction, existing shareholder WestView Capital Partners will reinvest alongside TA to maintain a minority position in the company.
14. Aspirion acquired Firm Revenue Cycle Management May 18. Firm partners with health systems in the recovery of unpaid and underpaid medical insurance claims.
15. Business process management company Sagility acquired Devlin Consulting, a payment integrity services provider, on April 25. The acquisition combines Sagility's payment integrity services with Devlin Consulting's contract central technology platform.
16. AGS Health acquired the India-based patient access outsourcing business of healthcare technology company Availity Feb. 21. AGS said the acquisition will expand its artificial intelligence platform's capabilities with new technology to improve accuracy and scalability and streamline patient access operations.
17. Ventra Health on Feb. 21 acquired Deras Global Services, a Philippines-based revenue cycle management services provider for hospital-based physician specialties.
18. Wakefield partnered with Healthcare Receivables Group Jan. 17. Healthcare Receivables Group — formerly Receivables Management Bureau — provides management services for healthcare providers, including liquidation of accounts receivable.
19. SimiTree acquired Afia and GreenpointMed Jan. 12. Afia is a behavioral health data analytics and consulting firm. GreenpointMed is a medical billing credential service provider to healthcare practices.
20. RSi, an RCM provider for hospitals and large physician practices, acquired Invicta Health Solutions, according to a Jan. 9 RSi news release. Invicta provides several RCM services, including insurance discovery, claim status, eligibility verification, Medicaid enrollment and out-of-state Medicaid billing. Invicta's clients include other large RCM service providers, hospitals and healthcare systems.