MDaudit Acquires Streamline Health, Enhances RCM Solutions.

• MDaudit acquires Streamline Health Solutions, a pre-bill integrity provider • MDaudit to bridge crucial revenue cycle management (RCM) gaps • Acquisition positions MDaudit to mitigate billing compliance risks • MDaudit to strengthen and streamline the revenue cycle • Combined platform to minimize billing risks and maximize revenues • MDaudit to support healthcare organizations with robust RCM solutions.

Wellesley, MA - MDaudit, a leading cloud-based continuous risk monitoring platform for revenue cycle management (RCM), has finalized its acquisition of Streamline Health Solutions, Inc. [1]. The acquisition aims to bridge crucial RCM gaps and mitigate billing compliance risks, positioning MDaudit to strengthen and streamline the revenue cycle.

The acquisition, first announced in May, brings together two healthcare RCM powerhouses, supporting healthcare organizations with a combined net patient revenue of more than $300 billion. MDaudit's award-winning platform, which uses augmented intelligence to streamline healthcare revenue integrity, will integrate with Streamline Health's pre-bill integrity solutions. This combined platform will enable healthcare organizations to minimize billing risks and maximize revenues.

Ritesh Ramesh, CEO of MDaudit, commented, "Navigating the unrelenting financial and operational pressures of the current revenue cycle landscape requires a strategic approach to RCM. This acquisition allows us to provide healthcare organizations with the data- and AI-driven solutions they need to implement an effective, resilient, and adaptive RCM strategy" [1].

Streamline Health's RCM solutions empower healthcare providers to manage and optimize their revenue streams more efficiently. Its suite of comprehensive solutions focuses on pre-bill charge and coding integrity, ensuring accurate charges and coding before billing and payment. By preventing lost revenue and minimizing denials, Streamline Health enables providers to secure the reimbursement they deserve.

The acquisition is a significant step for MDaudit, which partners with the nation's premier healthcare systems to reduce compliance risk, improve efficiency, retain revenue, and enhance communication between cross-functional teams. The combined platform will leverage the power of collaboration between people and sophisticated technology to keep humans at the forefront of decision-making while driving sustainable change.

Cain Brothers, a division of KeyBanc Capital Markets, acted as exclusive financial advisor to Streamline, which is now a private company and wholly owned subsidiary of MDaudit. Troutman Pepper Locke LLP served as Streamline Health's legal counsel, and Goodwin Proctor, LLP served as legal counsel to MDaudit.

References:

[1] https://www.morningstar.com/news/accesswire/1059520msn/mdaudit-finalizes-acquisition-of-streamline-health
[2] https://finance.yahoo.com/news/mdaudit-finalizes-acquisition-streamline-health-133500735.html