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PatientMatters, a healthcare revenue cycle management solutions provider based in Orlando, Florida, serves a diverse customer base across 24 US states. It focuses on patient eligibility services and front-end revenue cycle management solutions in the patient-provider market. It has earned an estimated $17.1 million in revenue in 2020, compared with $17.7 million in 2019 and $19.8 million in 2018.
The acquisition complements Firstsource’s provider business on two fronts—stronger presence in large markets like Texas and New York and addition of new capabilities of pre-authorisation and patient bill estimation at the front-end of the RCM cycle, according to a statement on Wednesday.
The RP-Sanjiv Goenka Group company also plans to consolidate its healthcare provider brands—MedAssist and PatientMatters—under its enterprise umbrella.
“The healthcare space in the US is ripe for digital disruption—a trend further accelerated by the pandemic. This strategic acquisition magnifies our strong patient-centric revenue management capabilities and creates adjacent areas for growth for us,” Sanjiv Goenka, chairman, Firstsource Solutions and RP-Sanjiv Goenka Group, said in the statement. “We welcome the PatientMatters team to the Firstsource family and look forward to serving the combined client base.”
Firstsource CEO Vipul Khanna said PatientMatters’ portfolio of offerings amplifies “our RCM solutions, empowering patients to take control of their finances and Providers to optimize their revenues”.