Medstreaming, a leading provider of innovative healthcare cardiovascular and radiology workflow technology and registry software solutions, today announced the acquisition of Physician Billing Partners (PBP), a trusted provider of revenue cycle management services encompassing the same specialties. The combined organizations will provide a complete suite of ambulatory informatics products along with integrated revenue cycle management services designed to create workflow efficiencies, improve clinical and business intelligence, optimize physician office collections, and bring insights to ambulatory healthcare provider practices.
Founded in 2003, Physician Billing Partners provides services and solutions designed to reduce operating and capital expenses, recover revenue, and increase productivity for physician office clients. The company provides specialized coding assistance, efficient data processing of financial transactions, accounts receivable recovery services, denials management and appeals, financial reporting and billing analytics, and patient contact support to ambulatory healthcare practices across the US.
“This strategic acquisition will complete the Medstreaming All-in-One ambulatory healthcare informatics solution by adding practice management services to our complete suite of information technology products,” said Wael Elseaidy, Medstreaming CEO. “Physician offices will now have access to Medstreaming’s complete portfolio of proprietary software applications which include our specialty electronic medical record, structured non-invasive reporting and imaging workflow, structured invasive reporting and imaging workflow, and practice management software. In addition, physicians will have access to Medstreaming’s qualified team of billing specialists to manage the practice revenue cycle. We have created what we believe to be the industry’s first end-to-end healthcare informatics solutions with integrated RCM services designed specifically to optimize collections for the physician office.”
With the acquisition of PBP, Medstreaming will be blending RCM services with the complete portfolio of proprietary software applications. The combine company will bundle a large array of functional components into a licensed or SaaS solution that can be delivered as a complete set, or as independent modules and services, to leverage investments a physician office may have already made.
“With over 13 years combined experience dedicated to the development of high quality revenue cycle management products and services, we will leverage the talent of both organizations to better serve our current clients as well as future customers,” said Rachel Couwenberg, Physician Billing Partners founder and operator. “We are excited about our future.”
Through the use of the Medstreaming All in One ambulatory platform, physician practices can reduce and eliminate the need for interfaces between disparate information technologies used to manage patient care and office operations. The use of the All in One platform creates a unified structured database which offers a practice operator insights into both the clinical practice and business operations. The practice is relieved of the logistics burden typically imposed by traditional RCM workflow, providing increased productivity with no loss of visibility into the day-to-day financial operations. The integrated platform also allows analysis of coding and reimbursement patterns not only for the practice, but benchmarked against other users in the industry.
“Physician Billing Partners’ impressive team, extensive list of clients, and years of experience in the revenue cycle management industry complement Medstreaming’s organization and our vision for the ambulatory markets,” said Michael Thompson, Medstreaming’s chief operating officer. “We have had the opportunity to get to know Rachel and her organization closely over the last five years and she has been instrumental in the development of Medstreaming’s practice management software platform. We are thrilled to have Rachel and the PBP team join us. Together we are well positioned to scale nationally as we continue to build our disease management ecosystem.”
Many challenges confront the medical industry due to an extremely fragmented data management structure. To address this fragmentation, Medstreaming created a Specialty-Based Vascular, Cardiovascular, and Women’s Health Workflow Application which functions as a “best of breed” performance layer in the inpatient workflow on top of inpatient electronic medical records (EMR). Using this clinical workflow expertise, Medstreaming has also developed the industry’s first “All in One” integrated platform application that runs as an outpatient EMR, image management & reporting, and practice management workflow solution. All Medstreaming solutions act as an aggregator for structuring clinical data which in turn creates powerful data service offerings for multi-purpose, web-based, data mining and data analytics. Medstreaming is headquartered in Redmond, WA. For more information, visit http://www.medstreaming.com.
M2S provides technology and services to the healthcare industry to manage clinical information, reduce costs, and improve the quality of patient care. Our extensive experience in medical imaging, data management, and outcomes analysis has positioned us as the leader in providing cost-effective, innovative healthcare performance management solutions to our customers. Through our M2S PATHWAYS clinical data performance platform, we support multiple medical specialty societies and their members by providing comprehensive tools for clinical data management, clinical outcomes assessment, and research needs. This secure, cloud-based solution enables physicians, institutions, and researchers to collect, manage, analyze, and disseminate their clinical data to achieve optimal outcomes. For more information, see www.m2s.com
Physician Billing Partners are industry specialists in revenue cycle management. By targeting our resources into identifying the most efficient and effective business practices in physician billing we offer our customers superior service, a service that is based on substantial knowledge and understanding of the medical revenue cycle and regulations. Our aim is to streamline the billing cycle, maximize returns, and add value so your practice is functioning at optimal performance. For more information, see www.physicianbillingpartners.com
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