CHADDS FORD, Pa.--(BUSINESS WIRE)--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.”
About Revint Solutions
Revint Solutions 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 1,600 healthcare organizations in the United States, Revint helps recover nearly $500 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.
Revint will have a presence at HFMA ANI the week of June 25th in Las Vegas, NV. Last month, The Healthcare Financial Management Association (HFMA) announced that, following rigorous review, Revint Solutions has once again achieved the “Peer Reviewed by HFMA®” designation for its Revenue Recovery Services. This is Revint’s 10th year as an HFMA Peer Reviewed company, a designation that is an important standard of excellence and validates the ongoing commitment to deliver value. For more information, visit revintsolutions.com.
About CloudMed Solutions:
CloudMed offers a first-of-its-kind automated DRG review solution for coding and documentation improvement. CloudMed specializes in the inpatient coding and documentation side of the healthcare revenue cycle working with small, medium, and large hospitals to provide Revenue Assurance. CloudMed runs visit data through a set of rules and algorithms to identify potential DRG shifts, ensuring reimbursement, accuracy, and compliance. Leveraging technology, we provide full coverage coding review and closed loop education. CloudMed's mission is to leverage innovative technology, clinical expertise, and impeccable client services to deliver outstanding financial and operational results, while making the lives of hospital professionals easier. Learn more and request a risk-free assessment at cloudmedsolutions.com.
AcuStream is a Revenue Assurance specialty company dedicated to the healthcare industry. AcuStream provides automated charge capture auditing technology solutions, value-add professional coding expertise, and decision support tools to the country’s leading healthcare providers enabling our clients to find missed revenue around charges they didn’t know were missing. We are the only organization with proprietary algorithms and custom client specific rules, that can correlate both the hospital data and physician data. This in conjunction with our world class workflow, allows us to find and track missed, miscoded, and misplaced charges. AcuStream identifies and quantifies missed reimbursable charges for both Physician Organizations and Health Systems. REVBUILDER™’s automated post-bill auditing solution identifies omitted charges while REVREVIEW™ auditors validate charges against your own EMR documentation and payer contracts to ensure you get paid for the services provided. For more information, visit AcuStream.com.