FUTURE OF HEALTHCARE

Omega Healthcare Acquires Reventics, a Physician Focused CDI and RCM Company

Omega Healthcare | March 09, 2022

Omega Healthcare, a leading healthcare management solutions partner supporting the broad healthcare ecosystem, today announced its acquisition of Reventics, a Denver, CO based company.

Reventics is a clinical documentation improvement ("CDI") and revenue cycle management ("RCM") solutions provider that delivers Provider Engagement Solutions to enhance physician reimbursement and compliance, while improving clinical quality measures.

This acquisition enables Omega Healthcare to expand its core coding and RCM offering by leveraging Reventics' proprietary cloud native platforms for CDI and RCM - RevCDI and RevMAX -   along with expert clinical resources to drive improved outcomes for its clients.

The transaction is part of Omega Healthcare's strategic growth plan to expand its existing CDI capabilities through technology-driven solutions, giving Omega exceptional scale and proficiency in this specialized competency.

"Reventics brings to our organization clinical excellence, analytic capabilities, and new age technologies to complement Omega's existing technology and automation services. Not only is this a strategic fit that will benefit our clients, but we will be able to expand our CDI and RCM capabilities through this acquisition, while increasing our AI capabilities as well."

Anurag Mehta, CEO of Omega Healthcare

 

"We see our core values of "client first" approach reflected in Omega's own philosophy and are excited by how our clients could benefit from the larger enterprise and its extensive capabilities.  We believe the client partnerships we currently enjoy will only be strengthened through this transaction." says Arnab Sen, CEO of Reventics. "

"Omega is excited to welcome the Reventics team and is eagerly looking forward to creating enhanced value for its customers under the combined leadership" added Sumithra Gomatam, Executive Chair of Omega.

Anurag Mehta will continue to serve as the CEO of the combined entity.

About Omega Healthcare

Founded in 2003, Omega helps payers, providers, and pharmaceutical companies eliminate administrative burdens, accelerate cash flow, and reduce health management costs while enhancing patient care. The company streamlines medical billing, coding, and collections processes and provides virtual nursing services, including triage, care continuation, clinical documentation improvement, and re-admittance avoidance. Combining the largest medical coding staff in the world with proprietary technology, analytics, and automation capabilities, Omega provides the most comprehensive outsourced solutions in the industry and is ranked among the top revenue cycle management business process services by industry analysts.

Backed by the Private Equity business within Goldman Sachs Asset Management and Everstone Group, Omega has more than 20,000 employees across the United States, India, the Philippines.

About Reventics
Reventics is a physician-focused clinical documentation improvement (CDI) and revenue cycle management (RCM) company. The company is changing the way the industry thinks about CDI and RCM by placing the provider at the center of its solutions.  From the AI that powers Reventics' products to its physician-led delivery approach, Reventics drives an unrelenting focus on clinicians, to improve their operational and financial outcomes. Reventics' approach is based on using its to deliver Provider Engagement Solutions that enhance physician reimbursement and compliance while improving clinical quality measures.

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Other News
HEALTH TECHNOLOGY

WELL Forms Canadian Clinics Business Unit, Expands Credit Agreement, and Ramps up Clinic Growth

WELL Health Technologies Corp. | July 15, 2022

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WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on OTCQX under the symbol "WHTCF".

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HEALTH TECHNOLOGY

TELUS completes C$2.3 billion acquisition of LifeWorks setting a new course for employer-focused healthcare

TELUS Health | September 02, 2022

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Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS’ global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.

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HEALTH TECHNOLOGY

ASG Announces Acquisition of MediMatrix, Industry Leading Mobile Healthcare Software

ASG | August 19, 2022

ASG, a portfolio company of Alpine Investors that buys and builds vertical SaaS companies, announced the acquisition of MediMatrix. MediMatrix is a mobile healthcare software business that streamlines order management, enables 1-click image sharing, and expedites reimbursements for medical providers offering mobile radiology and imaging services. “We’re excited to welcome MediMatrix into the ASG community. COVID-19 only further highlighted the criticality of mobile healthcare solutions and the importance of getting it right. Ken and the MediMatrix team have created an industry leading app that creates both better processes for its clients and better outcomes for their patients, and we're looking forward to building on that — both through organic growth and continued acquisition in mission critical healthcare software solutions.” Alice Song, President & Head of M&A at ASG MediMatrix will be led by CEO, Marvel Myrtile. “Over the last 20+ years, MediMatrix has established itself as the leading software provider in the mobile radiology space and it is evident that the patients our products serve are at the core of everything we do,” said Myrtile. “The founding team has worked tirelessly over the years to create a comprehensive platform that ensures that our customers are equipped with cutting-edge technology to reach and diagnose millions of patients. As the need for mobile healthcare continues to grow, I’m beyond excited to lead the MediMatrix team and build upon the platform to meet the needs of a quickly evolving industry.” Founder, Ken Kern will remain active in the business as Chief Technology Officer. “Our goal has always been to leverage technology to improve healthcare for patients in the long-term care industry,” said Kern. “I am excited to have found a partner in ASG that will continue to build industry leading software solutions for our customers.” About MediMatrix Founded in 2002 and headquartered in Minneapolis, Minnesota, MediMatrix is an end-to-end solution that makes running a portable radiology imaging service company much easier. The platform covers the entire process from imaging orders, to dispatching a mobile tech, sending images, and coordinating billing. This ultimately improves patient care dramatically by speeding up the process of delivering and examining medical imaging. About ASG ASG, backed by Alpine Investors, is a unique and fast-growing software business that buys and builds market-leading vertical SaaS companies. ASG believes deeply in the power of people and data to grow great organizations, and that sharing knowledge, expertise, and resources across its community of businesses drives exponential growth. Founders of leading SaaS companies continue to trust ASG to grow their businesses and build even stronger legacies for the future. About Alpine Investors Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in middle-market companies in the software and services industries. Its PeopleFirst strategy includes a talent program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund.

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HEALTH TECHNOLOGY

Software Identifies Unreported Mental Health Issues in Teens

Advanced Metrics | August 26, 2022

Advanced Metrics and Samaritan Counseling Center today announced the release of QUALO Behavioral Health, a cloud-based software designed to proactively screen teens for mental and emotional wellbeing. "An easy to implement mental health screening strategy gives schools a targeted opportunity to engage and empower students who need connected to community resources because they are struggling with feelings of depression, anxiety, and suicidal thoughts." Steve Schedler, Samaritan Counseling QUALO Behavioral Health software revolutionizes teen mental health screening by innovatively simplifying the entire screening process. The software guides youth through industry standard screening tools to understand their current emotional wellbeing. Mental health professionals are immediately provided with data supporting an "at-risk" or "not at risk" identification and are guided through an intentional follow-up process. "With the mental health crisis facing teens today, we knew it was critical to develop a software that supports teen's mental well-being and normalizes conversations about mental health. We designed this software so schools can implement it independently or through collaboration with an outside agency. Either way, the platform will support students, inform administrators, and enhance any mental health strategy a school is implementing." Steven Herr PhD, Advanced Metrics Advanced Metrics is a Software as a Service company dedicated to improving the health of individuals and communities through science informed software and human centered data analysis. Advanced Metrics designed QUALO, a comprehensive web-based solution, to empower human service organizations to deliver services that generate quality life outcomes. TeenHope is a student mental and emotional wellbeing education and screening program in Lancaster, PA. TeenHope is supported by Samaritan Counseling Center, which provides professional counseling, consultation and education for individuals, couples, businesses, and clergy.

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The mission of the Michigan Association of Health Plans is to provide leadership for the promotion and advocacy of high quality, affordable, accessible health care for the citizens of Michigan.

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