Leader in Revenue Integrity Strengthens DRG Validation and Charge Accuracy Capabilities to Recapture Lost Revenue for Providers
Chadds Ford, PA, June 22, 2018 – Revint Solutions, the leader in revenue recovery solutions and pioneer of the industry’s leading revenue integrity safety net for healthcare providers, today announced the acquisitions of CloudMed Solutions and AcuStream. These two strategic acquisitions advance Revint’s capabilities in charge capture and diagnosis related group (“DRG”) validation, enabling Revint to deliver even greater value to its clients. These acquisitions follow Revint’s merger with IMA Consulting in December 2017 and its acquisition of Naveos earlier this year. The integration of CloudMed and AcuStream will strengthen Revint Solutions’ position as the sole provider of enterprise-wide revenue integrity services, adding best-of-breed solutions to the Revint product offering and helping providers identify and address revenue leakage from DRG coding and charge-related issues across all venues of care.
“Revint is the result of a continued effort at New Mountain Capital to back transformative companies that seek to modernize healthcare infrastructure, while driving reduced costs and improved care,” said Matt Holt, Managing Director at New Mountain Capital. “With the powerful and complementary capabilities of CloudMed and AcuStream, Revint becomes an even stronger partner for healthcare providers navigating an environment with greater reimbursement complexity and increasing financial pressures.”
“We set out an aggressive vision two years ago to build the first ever enterprise-wide revenue integrity solutions provider that can capture revenue leakage in all settings and across all types of errors,” said Brett Carlson, board member of Revint and Founder of Eir Partners. “CloudMed and AcuStream are both great strategic additions for our mission with Revint. The complexity of the middle revenue cycle results in significant missed revenue opportunities for providers, and the integration of these product offerings will enable Revint to sift through this complexity to deliver dollars to our customers that would otherwise be lost.”
CloudMed is a first-of-its-kind automated DRG review solution, with a full turnkey offering combining technology and specialist auditors in order to perform a full review of all provider data to identify, investigate, and document opportunities for additional DRG-based reimbursement in an efficient, compliance-focused manner. Founded in 2015, CloudMed has achieved tremendous growth and customer success on the back of a guaranteed return-on-investment pricing model and has already recovered nearly $50 million of incremental revenue for its clients. Revint’s acquisition of CloudMed builds on a white label partnership started last year, with CloudMed as the technology behind the Revint DRG Validation service line. Founder Jason Merck and the entire CloudMed team will continue with Revint and lead the combined company’s DRG validation efforts going forward.
AcuStream is a leader in charge capture solutions, utilizing a rules-based engine to identify missed and unbilled charges in existing patient data and helping to recover that incremental revenue on behalf of its provider clients. AcuStream’s solutions address both hospital and physician billing, as well as the complex interplay between the two, enabling the business to address customers’ reimbursement complexities across venues of care. Similar to CloudMed, AcuStream operates with a guaranteed return-on-investment pricing model to ensure strong outcomes for clients, which include some of the largest blue-chip health systems in the country. The AcuStream team will continue with Revint and further build out the combined company’s charge capture presence and capabilities.
“The need for a comprehensive revenue integrity ‘safety net’ for healthcare providers is greater than ever,” said Jack Qian, Managing Director at New Mountain Capital. “We are excited to welcome the CloudMed and AcuStream teams to the Revint family and look forward to what we can accomplish together.”
View official announcement here: