Dive Brief:
- Bolder Healthcare Solutions has bought Avectus Healthcare Solutions for an undisclosed amount.
- Avectus, based in Corinth, Mississippi, coordinates third party liability accounts and resolves complex workers' compensation accounts for hospitals and trauma centers. Bolder provides healthcare revenue cycle management services to hospitals and physicians.
- Bolder continues to look at additional acquisition candidates in the RCM market.
Dive Insight:
RCM is a hot deal space right now. Recent partnerships include the Mayo Clinic and Optum 360 and Trinity Health and athenahealth.
"We are very pleased to become part of the Bolder Healthcare team. Bolder Healthcare brings us great resources and market experience as we continue building our highly specialized services over the coming years," said Tim Smith, Avectus founder and CEO.
Revenue cycle management uses technology to keep track of the claims process so providers can follow the process and address any issues to allow for a steady revenue stream. Some of the main challenges providers face in terms of RCM include: adoption of ICD-10, increasing co-payments for services, consumer-driven health plans and high deductible, consumer-directed health and insurance plans with new parties involved in claims processing, according HIMSS.