RCM players Navicure, ZirMed to combine

Kelly Gooch - Print  | 

Duluth, Ga.-based Navicure and Louisville, Ky.-based ZirMed signed a definitive agreement to combine their revenue cycle management offerings under one company.

Navicure provides medical claims management, patient payment and data analytics solutions. ZirMed is a healthcare RCM company offering solutions for patient estimation, charge integrity and claims monitoring, among various others.

The combined company will serve hospitals, health systems and ambulatory services organizations including physician practices.

"We are combining two double-digit growth healthcare revenue cycle technology providers with exceptionally strong reputations for product innovation and client satisfaction," said Navicure President and CEO Jim Denny. "Together, Navicure and ZirMed will provide the highest-rated customer experience to more than 400,000 providers and healthcare organizations. Our solutions will offer the most modern, integrated, commercially-available revenue cycle management platform designed to meet the evolving needs of healthcare providers."

Tom Butts, chairman and CEO of ZirMed, was also enthusiastic about the news.

"We expect a smooth transition as we combine these two revenue cycle platform leaders and maintain our shared commitments to our clients, partners and employees," he said. "ZirMed has built and delivered an unparalleled, fully-integrated technology platform that scales to support the largest and most complex healthcare providers and systems. By joining forces, our two companies are ensuring that providers across all segments are more empowered than ever to optimize their revenue cycles."

The companies said in a news release they will keep their existing locations and teams in Duluth, Louisville and Chicago. Additionally, the combined company will operate under both brands throughout the transition.

ZirMed and Navicure did not disclose financial terms of the private transaction.

 

More articles on healthcare finance:

10 hospitals with strong finances
This week's 5 must-reads for hospital CFOs
6 hospital CFOs in the headlines

 

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.