Firstsource Solutions Acquires PatientMatters
23 December 2020 - 2:57PM
Business Wire
Acquisition accentuates Firstsource’s
Healthcare Provider portfolio and extends its national footprint in
the US
Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global
provider of Business Process Management (BPM) services and a
RP-Sanjiv Goenka Group company, announced today that the firm has
acquired PatientMatters, a healthcare Revenue Cycle Management
(RCM) solutions provider. PatientMatters unifies disparate
registration, bill estimation, and financial services with
intelligent workflows and eligibility services, improving revenue
realization for Hospitals. The acquisition complements
Firstsource’s Provider Business on two dimensions: strengthening
presence in large markets like Texas and New York and adding new
capabilities of pre-authorization and patient bill estimation at
the front-end of the RCM cycle.
Powered by its Digital First, Digital Now strategy,
Firstsource helps the nation’s leading Healthcare Providers and
Health Plans reimagine their operations with digitally enabled
business process solutions. The acquisition integrates
PatientMatters’ InteliPass with Firstsource’s proprietary patient
engagement solutions MFocus℠ and MGagement℠, equipping Providers
with a comprehensive platform-based solution that simplifies the
end-to-end patient financial experience.
Dr. Sanjiv Goenka, Chairman, Firstsource Solutions and
RP-Sanjiv Goenka Group said, “The Healthcare space in the US is
ripe for digital disruption – a trend further accelerated by the
pandemic. Firstsource already has a large presence in the US
healthcare market, helping Providers and Health Plans streamline
their operations with Intelligent Automation and emerging
technologies for enhanced competitiveness. This strategic
acquisition magnifies our strong patient-centric revenue management
capabilities and creates adjacent areas for growth for us. We
welcome the PatientMatters team to the Firstsource family and look
forward to serving the combined client base.”
In tandem with the acquisition, Firstsource plans to consolidate
its Healthcare Provider brands MedAssist and PatientMatters, under
its enterprise umbrella. The move reflects the unified value
proposition offered across all Firstsource solutions and services
and reinforces the company’s brand as a global BPM leader.
Vipul Khanna, MD and Chief Executive Officer, Firstsource
Solutions commented, “The integrated brand strategy under
the Firstsource name will create a seamless organization with
unparalleled service capabilities and geographic reach. While we’ve
built a strong reputation under the MedAssist brand over the past
three decades, we believe that Firstsource’s distinct track record
of successes worldwide will help us create a deeper impact in the
marketplace. Both Firstsource and PatientMatters share a singular
mission – to help healthcare organizations enhance the patient
financial experience with innovative, digital-first solutions.
PatientMatters’ portfolio of offerings further amplify our RCM
solutions, empowering patients to take control of their finances
and Providers to optimize their revenues.”
David Shelton, CEO of PatientMatters further added,
“PatientMatters is excited to be part of the Firstsource brand.
Firstsource is a market leader in healthcare RCM solutions with
extensive reach and a global presence. We believe our strong
eligibility services and intelligent financial management workflows
will support Firstsource’s strategy of putting clients at the heart
of its operations and accelerating success.”
A Century Equity Partners portfolio company, PatientMatters is
headquartered in Orlando, Florida with operations across the
US.
About Firstsource:
Firstsource Solutions Limited, a RP-Sanjiv Goenka Group company
(NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), is a
leading provider of transformational solutions and services
spanning the customer lifecycle across Healthcare, Banking and
Financial Services, Communications, Media and Technology and other
industries. The Company’s ‘Digital First, Digital Now’ approach
helps organizations reinvent operations and reimagine business
models, enabling them to deliver moments that matter and build
competitive advantage. With an established presence in the US, the
UK, India and the Philippines, Firstsource acts as a trusted growth
partner for over 100 leading global brands, including several
Fortune 500 and FTSE 100 companies. (www.firstsource.com)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201222005749/en/
Media Contact Sarika Rath Sarika.rath@firstsource.com
(+91 98863 78198)
Joseph Favata Joseph.favata@firstsource.com (716) 725-7462
Investors Contact Ankur Maheshwari
Ankur.Maheshwari@firstsource.com +91(80) 6633 6075
Diwakar Pingle dpingle@christensenir.com +91 (22) 4215 0210
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