Ingenix, a health information, technology, and consulting company, announced it will acquire CareMedic Services Inc, which specializes in revenue cycle management (RCM) solutions for hospitals and health systems.
With the acquisition of CareMedic, Ingenix will offer solutions that address each major component of the hospital revenue cycle: patient registration, eligibility verification, financial clearance, coding and compliance, bill submission, denials management, and remittance processing. Ingenix and CareMedic’s combined products and services will create a suite of solutions for hospitals to manage the revenue cycle and improve financial performance—from the time a patient begins the registration process with a healthcare provider to the time payment for that care is received. This will be the industry’s only enterprisewide solution that identifies inefficiencies as they occur, so clients can take practical actions to receive appropriate reimbursements and reduce costs throughout the process.
CareMedic provides hospitals with an enterprise platform of enabling technologies and services that optimize revenue cycle efficiency and improve cash flow, margins, and productivity. CareMedic’s products and services include the Electronic Financial Record (eFR) platform, which makes nearly real-time patient financial information accessible across departments within a hospital, helping clients take the right actions at every step of the revenue cycle to receive payments faster and more efficiently. CareMedic’s capabilities will complement Ingenix’s INTELLIJET platform and will also expand Ingenix’s existing Business Process Outsourcing (BPO) capabilities with patient financial management services, accounts receivable management, secondary billing and denials recovery, and other managed services offerings.