RP-Sanjiv Goenka Group company Firstsource Solutions – which is into business process management services – has acquired the US-based PatientMatters, a healthcare revenue cycle management solutions provider, for $13 million.
The Orlando, Florida-basedPatientMatters reported a turnover of $17.7 million for the year-ending December 31, 2019. It unifies disparate registration, bill estimation, and financial services with intelligent workflows and eligibility services, improving revenue realisation for hospitals.
The all-cash deal will see Firstsource acquire 100 per cent of PatientMatters’ shareholding, including its subsidiaries, a stock market notification said.
The acquisition complements the RP-Sanjiv Goenka Group company’s provider business by strengthening its presence in large markets like Texas and New York, in the US. It also helps add new capabilities of pre-authorisation and patient bill estimation at the front-end of the revenue cycle management services.
The acquisition integrates PatientMatters’ solutions with proprietary patient engagement offerings of Firstsouce thereby helping providers with a comprehensive platform-based solution that simplifies the end-to-end patient financial experience.
According to Sanjiv Goenka, Chairman, Firstsource Solutions Ltd and RP-Sanjiv Goenka Group, the healthcare space in the US is ripe for digital disruption. The trend has been further accelerated by the pandemic. Firstsource already has a large presence in the US healthcare market. “This strategic acquisition magnifies our strong patient-centric revenue management capabilities and creates adjacent areas for growth,” he said.
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