Revenue cycle management company merger and acquisition deals are off to a fast start in 2024, with three deals named in back-to-back days.
Elevate Patient Financial Solutions is acquiring Professional Medical Services, according to a Jan. 9 news release.
Professional Medical Services focuses on low-balance accounts receivable resolution, according to the release. ElevatePFS CEO Michael Shea said in the release that low-balance receivables represent a major pain point for hospitals and health systems, who often lack the technical capabilities and resources to resolve these accounts effectively."
"We see tremendous opportunity to leverage Professional Medical Services’ low-balance accounts receivable capabilities to support our existing customers and improve their cash collections," Mr. Shea said.
On Jan. 8, Ventra Heath and Advocate RCM announced they were combining. Advocate RCM, which provides RCM services for radiology and other facility-based physician specialties, will operate as a division of Ventra.
"As facility-based physicians navigate increasingly complex reimbursement landscapes, we partner with them to manage and understand reimbursement and to deliver exceptional and consistent performance outcomes," Ventra Health CEO Steven Huddleston said. "Ventra's growing RCM capabilities will help ensure that our clients are paid fully and on time for the services they provide to their patients."
Also on Jan. 8, software company N. Harris Computer Corporation announced it is acquiring EHR company Medhost. The acquisition includes Medteam Solutions, which provides application, revenue cycle, IT and security management services.
Harris will continue to operate Medhost as a stand-alone business, according to a Jan. 8 news release.