Process management company Provana has expanded its revenue cycle management footprint with the recent acquisition of five RCM companies.
The acquired companies are Account Matters, CIS, To the Point Billing Solutions, ACI Therapy Billing, and Central Iowa Medical Billing, according to a June 25 Provana news release.
"Given the financial pressures facing private practices today, including rising denial rates, labor costs, and declining reimbursements, medical practices are experiencing a financial squeeze," the company said in the release. "Provana is building on its existing analytics solutions for highly regulated, process-driven industries to relieve the financial and operational burdens imposed on medical practices, helping ensure their financial health."
Provana said the five companies it has acquired bring a "wealth of industry knowledge, a strong client base, and a talented workforce," bolstering the firm's ability to deliver high-quality RCM services.