Firstsource Solutions Ltd, a Mumbai-based business process management (BPM) services provider, has acquired PatientMatters, a healthcare revenue cycle management (RCM) solutions firm.
FirstSource, part of diversified RP-Sanjiv Goenka Group, has bought US-based PatientMatters for $13 million (Rs 95 crore).
PatientMatters unifies disparate registration, bill estimation, and financial services with intelligent workflows and eligibility services, improving revenue realisation for hospitals.
The acquisition will help Firstsource to strengthen presence in markets like Texas and New York and add new capabilities of pre-authorisation and patient bill estimation at the front-end of the RCM cycle.
"This strategic acquisition magnifies our strong patient-centric
revenue management capabilities and creates adjacent areas for growth for us," said Sanjiv Goenka, chairman at Firstsource Solutions and RP-Sanjiv Goenka Group.
In tandem with the acquisition, Firstsource is planning to consolidate its healthcare provider brands MedAssist and PatientMatters under its enterprise umbrella.
Firstsource caters to companies across telecommunications and media, financial services, healthcare and publishing industries. Besides India, it has a presence in the US, UK and Philippines.
Kolkata-based RP-Sanjiv Goenka Group had acquired a controlling stake in Firstsource in 2012