Four things to know:
1. Chicago-based Healthcare Financial Resources, which is backed by Housatonic Partners, a private equity firm, provides accounts receivable recovery and resolution services. California-based PARA HealthCare Financial Services provides market-based pricing tools, analytics products and consulting services.
2. Through the acquisition, HFRI will expand its revenue cycle capabilities to include front-end reimbursement, pricing, coding and contract management competencies.
3. HFRI officials said the company will focus on helping providers reduce days in accounts receivable, generate more revenue and improve patient satisfaction.
4. Greenberg Advisors, an investment bank specializing in RCM and health IT, served as an adviser on the transaction.
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