By P. Sarojini
Mumbai, India (CWBN)_ Firstsource solutions, an RP-Sanjiv Goenka Group firm and a Mumbai-based multinational BPM services provider, acquired the Florida-based healthcare revenue cycle management (RCM) solutions company PatientMatters for $ 13 million in an all-cash transaction.
In a regulatory submission to the stock exchanges, the company said, “Firstsource Solutions USA, LLC, USA, a wholly owned subsidiary of MedAssist Holding, LLC, a step-down subsidiary of the company, has entered into membership interest purchase agreement to acquire 100% stake in PatientMatters, LLC, a leading RCM solutions provider with focus on US healthcare providers (hospitals)”.
Firstsource said PatientMatters integrates disparate registration, bill estimation and financial services with intelligent workflows and eligibility services to improve the profit for hospitals. Sanjiv Goenka said that this takeover will boost the powerful patient-centered revenue management capabilities of Firstsource and will establish adjacent growth areas. Vipul Khanna, MD and CEO of Firstsource said, “The integrated brand strategy will create a seamless organization with unparalleled service capabilities and geographic reach”.
The acquisition will allow Firstsource to improve its presence in the competitive markets such as Texas and New York and to introduce new pre-authorization and patient bill estimation capabilities at the front-end of the revenue cycle management.
Following the acquisition, Firstsource plans to merge its healthcare provider brands MedAssist and PatientMatters and bring them under a single enterprise umbrella. Firstsource provides their services to sectors such as telecommunications and advertising, financial services, healthcare and publishing. In addition to India, Firstsource has networks in the US, the UK and the Philippines. In 2012, RP Sanjiv Goenka Group in Kolkata bought a majority stake in Firstsource.
