AdvantEdge Healthcare Solutions (AHS), one of the nation’s leading providers of medical billing, practice management, and coding services for specialty physicians, hospitals, and surgery centers, announced today that it has acquired COMPUDATA, Inc. (medicalbillingthatpays.com), an Ohio-based medical billing company. This represents AHS’ fifth acquisition since mid-2009, and expands the company’s footprint in Ohio and Pennsylvania while strengthening the company’s anesthesia practice customer base.
COMPUDATA processes thousands of claims each year, representing millions of dollars in physician receivables. The company, primarily focused on specialty and primary care physician practices, provides clients a complete range of medical billing services including coding, data entry, paper and electronic claims submission, accounts receivable management and follow-up, payment posting, and electronic Medicare and Medicaid payment capture. COMPUDATA 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,” says 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. Our growth is indicative of the increasing demand for effective technologies and services that help practices manage their financial performance and allow physicians to focus on patient care.”
“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,” says Ken Lewis, President and CEO of COMPUDATA, Inc. “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. The strategic decision to align our company with AHS, a growing and innovative leader in the field, should energize our clients. We are excited to continue serving our growing customer base under the AHS banner and to strengthen our range of services to support physicians and medical offices.”
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. AHS will continue operations at the COMPUDATA facility in Ravenna, Ohio, which is located near Akron and 40 miles from Cleveland.
About AdvantEdge Healthcare Solutions (AHS)
AHS (ahsrcm.com) is a technology-enabled provider of revenue cycle management services, informatics, and expertise which enable healthcare providers to maximize financial performance and eliminate compliance risks. AHS has over 500 employees in 8 operating centers and collects nearly $1 billion for its physician clients using its own proven technology. In an industry with over 1,000 companies, AHS is recognized as one of the top 10 medical billing, coding, and practice management companies in the nation. AHS clients include hospital-based physicians, hospitals, ambulatory surgery centers, and large office-based groups. AHS is an IBM Business Partner for physician billing solutions.