Tegria Acquires Colburn Hill Group to Ease Revenue Cycle Management Challenges for Healthcare Providers
SEATTLE, May 20, 2021 /PRNewswire/ -- Tegria today announced the acquisition of Colburn Hill Group, one of the healthcare industry's leading developers of analytically-driven robotic process automation (RPA) technologies for revenue cycle management (RCM). A centerpiece of the deal is Colburn Hill's proprietary Ops Center RCM platform, which has earned praise from customers and industry analysts for its superior ease of use, reliability, and cost effectiveness.
"Colburn Hill Group has built an enthusiastic following among its customers by delivering intuitive solutions for their most difficult RCM challenges," said Lincoln Popp, managing director of Tegria's RCM solutions group. "In helping customers navigate denials management, prior authorization, claim status, account resolution, and more, Colburn Hill brings a unique mix of experience in revenue cycle operations and expertise in technology. The power of this combination makes them a great fit for Tegria. We're excited to scale Ops Center technologies and services to meet the RCM needs of the entire healthcare community."
Colburn Hill's Ops Center platform integrates cutting-edge analytics (including Colburn Hill's Intel and Hints tools) and modern discovery tools (such as Process Mining and Task Analysis) with process automation (including robotics) technology to increase efficiency and eliminate wasteful manual workflows. At its heart is a rules engine which includes more than 7,000 business rules Colburn Hill built from its experience in revenue cycle, supporting the segmentation and aggregation of tasks as well as providing pattern recognition of upstream process failures.
The platform enables a dramatic reduction in the effort required to resolve denials by using algorithms to identify the next best step to resolve accounts—and then dispatching tasks to staff or automatically resolving them with RPA technology. This results in lower operational costs, greater yield, and accelerated cash flow.
In its customer work to date, Colburn Hill has helped providers fully automate up to 65 percent of those steps while funneling and prioritizing the remaining steps for manual or partial automation processing, generating a 1–2 percent increase in net revenue.
With Colburn Hill, Tegria can offer new breadth and depth to its current end-to-end RCM solutions from Tegria companies MediRevv, Acclara and MSM, along with the full array of Tegria capabilities in electronic health records optimization, managed services, and more.
"Our products and services support healthcare revenue cycle operations, facilitating meaningful revenue improvements, cost savings, and maximizing the value of their workforce—key imperatives given the pressures RCM leaders face today and the speed of change in our industry," said Jeff Means, co-founder and principal, Colburn Hill Group. "We are excited to join Tegria to expand our reach in the market and accelerate our ability to deploy the solutions healthcare providers need."
Colburn Hill's leadership and team of more than 75 employees is based across the U.S. with primary locations in Chicago and Manchester, New Hampshire. They will join Tegria as part of Tegria's RCM solutions group, which will continue to support its current customer portfolio while also partnering with teams across Tegria to collaborate on new combined offerings and mutual clients.
"Healthcare leaders know they need new tools and approaches to deliver step-change improvements in RCM yield and cost curves, so they can then in turn invest more in better patient care," said Popp. "Colburn Hill's advanced analytics, automation and talent delivers Tegria the ability to help customers discard obsolete back-end revenue cycle processes in favor of more efficient approaches built on marketplace-tested, next-generation technologies."
"Clients are highly satisfied with Colburn Hill's performance and revenue cycle expertise. Colburn Hill delivers expected outcomes, and several clients look forward to expanding the relationship." KLAS Spotlight, Colburn Hill Group, Pg. 2
Cascadia Capital served as the financial advisor and Davis Wright Tremaine acted as legal counsel to Tegria on this transaction. Phoenix Management Consulting and Ballard Spahr assisted Colburn Hill.
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