DALLAS, Oct. 18 /PRNewswire/ -- Accuro Healthcare Solutions, Inc. (Accuro), today announced the acquisition of Innovative Health Solutions, LLC (IHS), which develops solutions for coding, compliance, reimbursement and information management for many of the country's most recognized healthcare organizations.
IHS, based in Red Bank, N.J., offers an array of tools that help customers increase revenues and improve coding, compliance and decision support, including its Coding Focus(TM) and Health Data Focus(TM) products. Revenue has increased 50 percent each year since the company was founded in 2002. The company was acquired from Besler Consulting of Princeton, N.J. Terms were not disclosed.
The company will be known as Innovative Health Solutions, an Accuro company. Its 40 employees will remain in offices in Red Bank, N.J., Billerica, MA, and Tampa, FL.
"As its name implies, IHS offers creative, innovative solutions to the challenges of a dynamic healthcare marketplace," John Carlyle, president and CEO of Accuro, said. "Under the skilled leadership of CEO Fred Stodolak, IHS' products and services are utilized directly, and through value added resellers and IT companies, by more than 1,000 healthcare organizations nationwide."
Accuro was formed in 2004 to provide comprehensive solutions that enhance revenue and improve financial, clinical, and logistical operational efficiencies for healthcare providers.
"We admire IHS' track record of consistent growth, its sophisticated technology, impressive clients and, of course, its strong management. This acquisition gives us another tool to help healthcare providers enhance revenue, and increase efficiency and productivity," Carlyle said.
"IHS provides the most comprehensive set of software and web-based tools to ensure optimum coding, compliance and reimbursement," Stodolak said. "Both Accuro and IHS are committed to helping healthcare providers navigate a complex marketplace. In addition, Accuro's management expertise, financial resources and solid business model make this a strategic partnership that will benefit providers nationwide."
Coding Focus
Coding Focus is a suite of coding, compliance and revenue enhancement products that gives providers a fully automated system to ensure an accurate charge data master (CDM) assessment. Coding Focus includes a Compliance Module that automates the process for updating and maintaining the institution's CDM while remaining compliant with current Medicare coding and outpatient prospective payment system requirements.
Coding Focus also includes an outpatient pricing module, which ensures accurate outpatient reimbursement from payers.
Health Data Focus
Health Data Focus is an integrated web-based, clinical, financial and strategic planning system that allows hospital management to make informed decisions about their market opportunities and pitfalls, profitability by product line and clinical outcomes. It includes a Management Module that allows administrators to view inpatient and outpatient profitability using RVU (relative value units). In addition, the model assesses profitability, length of stay and physician practice patterns.
A Market Strategist Module improves financial performance by identifying and forecasting opportunities in the marketplace. This module compiles actual patient data with demographic and competitor pricing and market share information to develop real market intelligence.
About Accuro
Accuro provides hospitals and ancillary healthcare providers technology- enabled services that enhance revenue and improve financial, clinical, and logistical operational efficiencies. The company is backed by Welsh, Carson, Anderson and Stowe, one of the largest private equity firms in the United States that invest solely in information and business services, healthcare and communications industries.
Through its wholly-owned subsidiary, Innovative Managed Care Systems (IMACS), Accuro is a leading provider of technology and services to help hospitals and physician groups identify underpayments from managed care and Medicare fiscal intermediaries on a prospective basis. IMACS also offers tools and services that enable providers to establish accurate pricing platforms and to recover payment for services that have been provided in accordance with their contracts. IMACS processes more than 15 million claims annually and manages about 25,000 managed care contracts for more than 250 clients.
Accuro Healthcare Solutions, Inc.CONTACT: Malea Barron of Accuro Healthcare Solutions, Inc.,+1-615-297-7766, or malea@lovell.com, for Accuro Healthcare Solutions,Inc., and Robert Allday of Accuro Healthcare Solutions, Inc.,+1-972-692-3372, or rallday@accurohealth.com
