Advantum Health Acquires MedAdvantage
LOUISVILLE, Ky., March 6, 2018 /PRNewswire/ -- Advantum Health, a leading revenue cycle services company, announced today that it has completed the acquisition of Florida-based MedAdvantage, one of the country's most significant provider enrollment and credentialing verification organizations. The MedAdvantage office in Orlando, FL will gain additional resources and continue to provide the same levels of exceptional customer service as part of Advantum Health. With this acquisition, Advantum Health also gains Med Advantage's proprietary technology, and continues its rapid growth in reducing the administrative burden for thousands of medical practices, hospitals, and health systems nationwide.
Advantum Health maximizes revenue for hospitals and physician practices with industry-leading technology and consultative services that optimize existing processes and support new payment and care delivery initiatives. By incorporating advanced analytics with a deep understanding of the healthcare ecosystem and a fierce commitment to maximizing the efficiency and effectiveness of healthcare organizations, Advantum Health helps its customers successfully navigate the future of healthcare. Advantum Health's unique differentiator is intertwining its deep level of expertise, its focus on customer care and best practice consulting with technology and analytics to drive results.
"MedAdvantage has verified over 780,000 board certifications, 962,000 DEA certifications and 3.7 million medical licenses over the course of 20 years," said Venkat Sharma, CEO of Advantum Health. "Credentialing is the first and most critical step of revenue cycle services. It is very simple - if a provider is not credentialed, (s)he does not get paid. Advantum's complete spectrum of revenue cycle services includes the management of this critical process. We are excited to have the MedAdvantage family join Advantum Health. With this acquisition, Advantum Health expands not only its comprehensive revenue cycle services to additional providers but also expands new offerings to healthcare organizations and large provider groups needing the assistance and security offered by the MedAdvantage team and their evolving database. The MedAdvantage team brings a depth of knowledge and services through their credentialing verification organization (CVO) and provider enrollment services (PES). Their proprietary technology and database of over 97 percent of all active physicians allows hospitals and health organizations to verify providers prior to the inclusion in the network. The MedAdvantage team will significantly enhance Advantum Health's ability to deliver the value and outcomes needed for current and future customers to thrive in the ever-changing healthcare landscape."
John Barrett, CEO of MedAdvantage expressed equivalent excitement, "My team and I could not be happier to join such a forward-thinking and experienced revenue cycle company. With Advantum Health's first-hand knowledge of billing, coding, technology and healthcare consulting, I truly believe that the MedAdvantage team and Advantum Health team will be the premier partner to help physicians, hospitals, and healthcare organizations thrive. We are thrilled to be part of Advantum Health and look forward to what the future holds."
About Advantum Health
Advantum Health helps healthcare providers, hospitals and health systems maximize revenues and practice medicine without administrative burden. Advantum Health offers comprehensive revenue cycle solutions - including billing, credentialing, prior-authorization, consulting services and intuitive analytic dashboards. Since 1996, Advantum Health has helped thousands of physicians and healthcare organizations to focus on what matters the most - their patients. www.AdvantumHealth.com
MedAdvantage is the only certified Provider Data Center in the U.S. performing credentials verification organization (CVO) services and provider enrollment services (PES) under one platform. Since 1993, MedAdvantage has transacted more than 3 million applications on behalf of managed care companies, insurance companies, hospitals, physician groups, and other healthcare organizations. www.med-advantage.com
Contact: Stacy State, sstate@AdvantumHealth.com, 703-488-6885
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SOURCE Advantum Health