SSI Group acquires Provider Advantage, adds Revenue360 solution to revenue cycle portfolio combination will synchronize hospital front office and back office operations
The SSI Group, (SSI), a provider of healthcare revenue cycle solutions, has entered into a definitive agreement to acquire Provider Advantage NW, a provider of patient access management software. Closing is expected within 30 days. The combined company creates a single source of complete revenue cycle solutions and helps improve financial performance by synchronizing hospital front and back office operations to increase collections, reduce denials and re-processing of claims.
SSI recognizes that pre-registration is the best place to start when making an impactful change in revenue cycle performance. As the cost of healthcare continues to shift to the patient, providers must apply additional effort and resources to front-end processes.
Collecting estimated patient balances during pre-registration or at the point of service has become vital to financial success. Provider Advantage simplifies front-end revenue cycle processes and drives higher point-of-service collections, decreased accounts receivable days and bad debt.
“SSI continues its evolution with enhanced patient access management capabilities, adding more value to our end-to-end revenue cycle portfolio through the addition of Revenue360. With ever-changing reimbursement rules, we give providers the power to quickly respond,” said Jimmy Lyons, President and CEO of The SSI Group.
“We are very pleased to become part of SSI, a recognized market leader in comprehensive revenue cycle technologies. This combination will help better fulfill customer needs as well as market demand for a single source revenue cycle management solution,” said Edward L (Ted) Tomkins, President of Provider Advantage NW.
Provider Advantage leadership and employees will immediately become part of the SSI family and will remain in Beaverton, Ore.
Healthcare Growth Partners served as financial advisor to Provider Advantage.