Optum Moves into Physician Group Space with Acquisition
Optum, an Eden Prairie, Minn.-based clinical analytics firm, will acquire Irving, Texas-based physician practice management and revenue management software firm, MedSynergies.
The move allows Optum to move its revenue management capabilities into the physician group space. MedSynergies has a customer base of 9,300 care providers in the U.S., the company says. The company secured $65 million in funding in 2013. While its customer base is primarily physician groups, it has provided its services for large health systems like Catholic Health Initiatives and Texas Health Resources. Optum says with the acquisition it plans on integrating revenue management services, clinical analytics and clinical workflow tools to serve the needs of large health systems and their employed and affiliated physician groups.
“MedSynergies is a proven innovator in helping physician practices improve performance, and shares our commitment to supporting care providers in continually elevating the quality of patient care in the communities they serve,” Larry Renfro, CEO of Optum, said in a statement. “(Its) capabilities fill out our revenue management offerings and enable us to now serve care providers across their care continuum from ambulatory and outpatient through inpatient and critical care services.”
Optum, a UnitedHealth company, did not disclose terms of the deal. The transaction is subject to regulatory approval and other customary closing conditions. MedSynergies will maintain its office in Irving.
Last year, Optum had revenue of $1.18 billion.
