Greenway Health | July 20, 2022
Greenway Health, a leading health information technology services provider, launched Greenway Medical Coding services, its newest healthcare solution for ambulatory practices. Greenway Medical Coding enables practices to capture cost efficiencies, improve practice earning potential, and collect insurance payments efficiently with the knowledge and precision of a personalized coding team.
Medical coding is the transformation of medical diagnoses, procedures, and services into a universal alphanumeric code. These comprehensive codes are used to submit and process charges in the healthcare billing system. Greenway Medical Coding will provide coding services by a dedicated team of professional coders certified by the American Academy of Professional Coders (AAPC) and/or American Health Information Management Association.
"With 69 percent of healthcare leaders reporting an increase in denials in 2021, Greenway Medical Coding relieves staffing issues and decreases the number of denials so practices can focus on what they do best – taking care of patients. Our new medical coding solution is a way for us to help clients reduce denials, minimize risks, and improve overall patient satisfaction
David Cohen, Chief Product and Technology Officer
Greenway clients will benefit from the multi-specialty expertise of certified medical coders experiencing cleaner claims with faster insurance payments, access to auditing services, and efficient medical coding submissions.
"Greenway is dedicated to providing the right tools for our clients to be successful and improve patient care," said Pratap Sarker, CEO of Greenway Health. "After listening to the struggles providers have had with maintaining coding staff, we knew we needed to provide a solution to relieve their administrative burden and allow for our providers to focus on patients."
Greenway is an end-to-end EHR, practice management, and medical billing solutions provider with a full suite of adaptable technology options including revenue cycle management, telehealth, care coordination services, patient engagement, and much more.
About Greenway Health
Greenway Health provides electronic health records (EHR), practice management, and revenue cycle management solutions that help practices in multiple specialties grow profitably, remain compliant, work more efficiently, and improve patient outcomes. Its team of clinical, financial, and technology experts serve as trusted advisors, committed to enabling successful providers, empowering patients, and building healthier communities. Greenway works with more than 55,000 providers across multiple specialties, translating into millions of lives touched daily by its solutions.
Performant Capital | August 01, 2022
Performant Capital announced that it has formed Provider Technology, LLC through the acquisitions of DavLong Business Solutions LLC and its affiliate Administrative Advantage LLC and On Demand Solutions Inc. Provider Technology is a leading technology provider of outsourced software and IT services, revenue cycle management (“RCM”) and back-office business support primarily to physician practices and health systems. The businesses will continue to operate independently under their respective brands but share best practices across all functional areas.
Performant, investing out of Fund I, closed the DBS and ODS transactions simultaneously in June. The Private Credit business within Goldman Sachs Asset Management provided first lien debt and an equity co-investment to support the acquisitions.
“The team at Goldman Sachs has been invaluable as we executed this platform investment. We look forward to meaningfully accelerating the growth of the business given the scale enabled by Goldman’s partnership.”
Mike Ciaglia, Partner at Performant
Founded in 1983 and headquartered in Savannah, GA, DBS provides turnkey IT solutions for physician practices by fully hosting, maintaining, and supporting all software needs for the medical office, from cloud hosting to cybersecurity. DBS combines its proprietary suite of software offerings with leading third-party solutions to provide medical practices with a fully integrated electronic health record and practice management system from a single vendor. In addition to its best-in-class software offering, DBS also provides complete RCM services designed to manage and optimize the entire collections process for practices. Across both primary functional areas, the company leverages technology, analytics, and the expertise of its skilled teams to improve operational and financial performance for customers.
Founded in 2007 and headquartered in Boise, ID, ODS provides practice management software, RCM, staffing support and business advisory services to healthcare service providers and organizations. Its solutions improve business operational efficiency, reduce administrative costs, and assure managerial control so clients can stay focused on providing quality patient care.
The combination of DBS, AA, and ODS creates a national back-office and healthcare technology platform servicing more than 3,000 medical providers across the U.S and across medical specialties – developing best-in-class offerings and technology for specific specialties, such as Ophthalmology, EMS and Hospitalist providers. “These businesses are highly complementary acquisitions that together provide enhanced technology capabilities and support services with broader geographic presence to better meet the needs of clients and improve their financial outcomes,” said Chris McLaughlin, Partner at Performant Capital. “Both businesses have a reputation of providing superior customer support as value-added partners to physicians and health organizations. Customers value our company as more than just a service provider, but extensions of their core teams. With an expanded presence and enhanced capabilities to drive further value for clients, we’re excited about the future of the combined business under Provider Technology.”
Provider Technology continues to look for best-in-class revenue cycle management and managed service provider software businesses to healthcare customers that would expand its geographic footprint and service capabilities. If you have an opportunity that might be an add-on acquisition candidate for Provider Technology, please contact Mike Ciaglia.
About Performant Capital
Performant Capital is a Chicago-based, lower middle market private equity firm focused on investments in technology-driven companies. Performant acquires businesses across SaaS, technology-enabled services, and data intelligence products and services. With over 50 years of collective investing and operating experience in these sectors, Performant’s principals seek opportunities where its depth of investing, operating expertise, and partner network can materially impact performance. More information on Performant Capital can be found at www.performantcapital.com.
About Goldman Sachs Asset Management Private Credit
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs it delivers investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from its deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for its clients’ performance, it seeks to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1996, the Private Credit business within Goldman Sachs Asset Management is one of the world’s largest private credit investors with over $90 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. Its deep industry and product knowledge, extensive relationships and global footprint position it to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size.
Advantage Healthcare Services and Spencer Health Solutions | September 26, 2022
Spencer Health Solutions a digital health company based in North Carolina’s Research Triangle Park, announced that Advantage Healthcare Services, a leading provider of mental health pharmacy support for the state of California, has joined its Certified Pharmacy Partner Network to offer enhanced, in-home patient services for one of its largest commercial pharmaceutical programs.
As part of the Spencer-Certified Pharmacy Partner Network, Advantage Health will work cooperatively with SHS, pharmaceutical manufacturers, payers, and healthcare systems on large-scale, post-approval monitoring sponsored by pharmaceutical companies that provide in-home support for patients living with severe and persistent behavioral health conditions.
“Our proactive approach to patient attention and care enables us to be with a patient during all aspects of their treatment and therapies. Participating in Spencer Health Solutions’ commercial pharmacy programs, and using the spencer® patient support platform, fits perfectly with our mission to work closely with a patient and their medical team to consult, observe, and intervene when the need arises for complete collaborative healthcare.”
Nevil Jhaveri, Chief Technology Officer at Advantage Healthcare Services
The spencer smart hub collects longitudinal insights from patients that can be leveraged to generate patient interventional support strategies. The smart hub is an FDA-certified Class 1 medical device that is easy to set up and use, only requiring the patient to plug it in and place a refill pack of medicines inside. The device connects to the Internet through an integrated cellular network or the user’s Wi-Fi network to quickly and securely
Alert patients to take their pre-packaged medications on a prescribed schedule
Dispense medications and document medication adherence.
Gain greater patient access with integrated, secure telehealth services within the platform
Automatically integrate data from in-home wearable, biometric devices.
“We feel fortunate to partner with Advantage and contribute to their long-standing reputation for thinking outside the box in support of their patients,” said Tom Rhoads, founder and CEO of Spencer Health Solutions. “Having spencer in patients’ homes will significantly improve health outcomes for this high-risk population that struggles with medication adherence and engagement.”
Spencer Health Solutions is exhibiting its spencer smart hub and pouch technology at the upcoming National Association of Specialty Pharmacists (NASP) 2022 Annual Meeting and Expo, and has been invited to present at the event’s Technology Day Innovation Lab on September 19th. Spencer Health Solutions invites NASP event attendees to join them for the unique one-day workshop, or to schedule a time for a personal, on-site demo.
About Advantage Healthcare Services
Advantage Healthcare Services’ core mission is to create solutions that support patients through the care continuum and aid in improving health outcomes. Based in California, Advantage specializes in crafting tailored solutions that bridge medication access and adherence impasses. With a primary focus of serving patients suffering from behavioral and mental health disorders, the company takes a consulting approach to developing sustainable solutions for the private practice sector, as well as for state- and county-funded programs. Through the utilization of an in-house data and analytics team, Advantage produces actionable reporting tools to identify at-risk patients, enabling caretakers to proactively intervene, improve health outcomes, and reduce rehospitalizations.
About Spencer Health Solutions
Spencer Health Solutions is a digital health technology provider dedicated to improving patient engagement and medication adherence for clinical trials and commercial pharmaceutical programs. Headquartered in North Carolina’s Research Triangle Park, Spencer Health Solutions’ award-winning spencer® smart hub provides near real-time monitoring of patients’ behaviors and Rx patterns that result in improved persistency, improved patient retention, and more positive health outcomes.