AdvantEdge Healthcare Solutions (AHS) a provider of billing, practice management and coding services, announced Thursday its acquisition of Ravenna, Ohio-based medical billing company COMPUDATA.
With this, its fifth acquisition since 2009, AHS officials say they plan to expand the company’s footprint in Ohio and Pennsylvania and strengthen the company’s anesthesia practice customer base.
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COMPUDATA processes thousands of claims each year, representing millions of dollars in physician receivables. Primarily focused on specialty and primary care physician practices, it provides clients a range of medical billing services such as coding, data entry, paper and electronic claims submission, accounts receivable management and follow-up, payment posting and electronic Medicare and Medicaid payment capture. The firm also assists clients with bank deposits, fee schedule and insurance contract tracking, accounting, bookkeeping, payroll and reporting.
“The addition of COMPUDATA to the AHS family not only complements our existing operations in Ohio and Pennsylvania, but enables the COMPUDATA clients to enjoy our advanced technology and other resources that will now be available to them,” said David Langsam, president and CEO of AHS. “Physicians face continuing challenges such as declining reimbursement, increasing regulation and the complexities associated with ICD-10 migration. Our services enable them to navigate these changes and thrive regardless of the environment."
“As billing costs continue to climb and reimbursements decline, outsourcing billing operations can have a dramatic cost and resulting cash flow savings to one’s practice,” said COMPUDATA CEO Ken Lewis. “Ongoing changes to medical regulations have put pressure on small- to mid-size medical billing companies, which are faced with costly technology upgrades to meet new standards."
Lewis will join the AHS management team as vice president, as will current COMPUDATA COO Tyler Lewis. Their addition to the AHS team will help facilitate a seamless client transition to the AHS platform, officials say. AHS will continue operations at the COMPUDATA facility in Ravenna, Ohio.