As part of the contract extension, Syncordia subsidiary Health Services Integration will continue to provide RCM services for claims in existence at Nov. 30, 2015 until May 31, 2017.
The contract extension comes roughly eight months after Syncordia announced HSI’s loss of the REACH and Summit Air Ambulance contracts due to an RCM insourcing mandate from KKR, the new owners of REACH/Summit, through AMGH, who bought AMGH from Bain Capital and Brockway Morgan and Partners in or around late spring 2015, according to a news release.
Under that notice, HSI processed new claims until November 30, 2015, after which HSI only processed the billing and collection of then-existing claims at Nov. 30, 2015 until May 31, 2016, Syncordia said. Now, with this new agreement, which took effect Wednesday, HSI will continue to process the billing and collections of then-existing claims at Nov. 30, 2015 through May 31, 2017 rather than May 31, 2016.
The anticipated HSI revenue from these open claims is estimated at $1.3 million.
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