Acquisition expands suite of revenue integrity solutions for healthcare providers and adds market-leading capabilities in government reimbursement
February 27, 2018 06:00 AM Eastern Standard Time
CHADDS FORD, Pa.–(BUSINESS WIRE)–Revint (“Revint”) today announced its acquisition of Naveos, a market leader in specialized government reimbursement technology and services for healthcare providers. The addition of Naveos’ capabilities, talent, and relationships further advances Revint’s mission to provide a comprehensive “safety net” to healthcare organizations through a full, technology-enabled suite of revenue integrity and complex reimbursement solutions.
Naveos, founded in 2006, is a market leader in governmental program reimbursement. Naveos leverages its proprietary COMPASS software, data analytics, and specialized workforce in order to help healthcare organizations maximize the value of their government program reimbursements, identifying approximately $1 billion of additional reimbursements for its clients to date. Naveos’ product set includes analytics related to Medicare and Medicaid Disproportionate Share Hospital (DSH), Worksheet S-10 / Uncompensated Care, and the 340B Drug Pricing Program. Naveos’ DSH products consistently outperform peers and in-house alternatives, while the S-10 solution represents a newly developed, claims-level data analytics product that is unmatched in the market. The Naveos team will remain with the combined company and continue to lead the business unit going forward.
“We are excited by the opportunity to partner with Revint. The combination provides the ideal platform for us to best serve our clients by maximizing savings through a full suite of revenue integrity offerings. Revint’s focus on providing best-in-class technology-enabled solutions perfectly aligns with our own approach,” said Bob Esposito, CEO of Naveos. “Our team is excited and confident that the business will continue to grow and thrive under Revint’s vision and culture.”
“Naveos is a clear leader in government reimbursement services, particularly for Medicare DSH and S-10, having made concerted investments in technology and analytics capabilities that maximize reimbursement opportunities with a high degree of compliance, accuracy, and efficiency. These capabilities are highly complementary to our existing portfolio and will enable us to increase the value that we provide to our clients,” said Kyle Hicok, CEO of Revint.
As a leader in revenue integrity, Revint helps providers capture incremental reimbursements through technology-enabled analytics across transfer DRG, DRG validation, underpayment recovery and complex claims within the revenue cycle. While Revint continues to invest heavily in improving and expanding its existing offerings, the combination of Naveos and Revint will help drive increased value for clients, improving the revenue integrity safety net by enhancing the identification and recovery of revenue opportunities.
Ziegler served as financial advisor and Greenberg Traurig, LLP served as legal counsel to Naveos. Ropes & Gray LLP served as legal counsel to Revint.
Revint is an industry-leading full-service healthcare solutions and consulting services provider that offers revenue integrity and recovery services for hospitals and health systems to ensure accurate and timely reimbursement for their services. Serving over 1,500 healthcare organizations in the United States, Revint helps recover over $150 million of underpaid or unidentified revenue for its clients annually. Revint’s suite of products includes transfer DRG, revenue recovery, DRG validation, zero balance underpayment recovery, Medicare reimbursement, complex claims, consulting, and interim management, among other solutions, offering a full revenue integrity “safety net” for all types of healthcare provider organizations. Revint is backed by New Mountain Capital, a growth-oriented investment firm that currently manages over $20 billion in assets.
NAVEOS is a national healthcare data analytics firm headquartered in Virginia specializing in maximizing governmental program reimbursements for healthcare clients. Naveos focuses on the federally-funded Medicare DSH / Uncompensated Care and 340B Drug Pricing Programs, and is continually developing new solutions to help providers keep the dollars they deserve. The company has developed technology and data analytics tools that help find providers additional reimbursements dollars, seeking to uncover “hidden eligibility” others cannot.
For more information visit https://www.naveosdata.com
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