Kansas-based eSolutions Inc., which develops revenue cycle and workflow management tools, has acquired Practice Insight, a Houston-based clearinghouse and revenue-cycle management (RCM) software vendor.
Focused on eligibility, claims, data and analytics, audits and denials, and quality and compliance, eSolutions works with some of the nation’s largest post-acute care organizations and health systems. The transaction bolsters eSolutions’ clearinghouse solutions and brings an opportunity to introduce new product offerings to its respective markets.
eSolutions is a portfolio company of Francisco Partners, a global private equity firm. Practice Insight was a portfolio company of Durham, N.C.-based Eli Global.
Practice Insight, founded in 2003, provides proprietary software-as-a-service solutions that streamline clearinghouse and revenue cycle workflows for healthcare providers across all settings. The company’s platform, EDIinsight, works to improves the healthcare billing process by leveraging connections to payers and seamless integration with providers to reduce rejections, speed payments and increase total reimbursement, while seeking to provide patients with increased transparency, convenience and payment flexibility. More than 68,000 providers rely on Practice Insight’s technology to edit and track claims in real-time, verify patient eligibility, process patient statements and provide patients with advance notice of procedure costs.
“Practice Insight is known for improving the entire healthcare billing process by leveraging robust connections to payers and seamless integration with providers to reduce rejections, speed payments and increase total reimbursement,” said Gerry McCarthy, CEO of eSolutions, in a prepared statement. “With this acquisition, we add complementary claims processing, workflow management capabilities, and analytics that enhance our revenue cycle suite of solutions.”
