Omega Healthcare Acquires Reventics, a Physician Focused CDI and RCM Company
Expands capability in AI based clinical documentation improvement
BOCA RATON, Fla., March 8, 2022 /PRNewswire/ -- Omega Healthcare, a leading healthcare management solutions partner supporting the broad healthcare ecosystem, today announced its acquisition of Reventics, a Denver, CO based company.
Reventics is a clinical documentation improvement ("CDI") and revenue cycle management ("RCM") solutions provider that delivers Provider Engagement Solutions to enhance physician reimbursement and compliance, while improving clinical quality measures.
This acquisition enables Omega Healthcare to expand its core coding and RCM offering by leveraging Reventics' proprietary cloud native platforms for CDI and RCM - RevCDI and RevMAX - along with expert clinical resources to drive improved outcomes for its clients.
The transaction is part of Omega Healthcare's strategic growth plan to expand its existing CDI capabilities through technology-driven solutions, giving Omega exceptional scale and proficiency in this specialized competency.
"Reventics brings to our organization clinical excellence, analytic capabilities, and new age technologies to complement Omega's existing technology and automation services," says Anurag Mehta, CEO of Omega Healthcare. "Not only is this a strategic fit that will benefit our clients, but we will be able to expand our CDI and RCM capabilities through this acquisition, while increasing our AI capabilities as well."
"We see our core values of "client first" approach reflected in Omega's own philosophy and are excited by how our clients could benefit from the larger enterprise and its extensive capabilities. We believe the client partnerships we currently enjoy will only be strengthened through this transaction." says Arnab Sen, CEO of Reventics. "
"Omega is excited to welcome the Reventics team and is eagerly looking forward to creating enhanced value for its customers under the combined leadership" added Sumithra Gomatam, Executive Chair of Omega.
Anurag Mehta will continue to serve as the CEO of the combined entity.
About Omega Healthcare
Founded in 2003, Omega helps payers, providers, and pharmaceutical companies eliminate administrative burdens, accelerate cash flow, and reduce health management costs while enhancing patient care. The company streamlines medical billing, coding, and collections processes and provides virtual nursing services, including triage, care continuation, clinical documentation improvement, and re-admittance avoidance. Combining the largest medical coding staff in the world with proprietary technology, analytics, and automation capabilities, Omega provides the most comprehensive outsourced solutions in the industry and is ranked among the top revenue cycle management business process services by industry analysts.
Backed by the Private Equity business within Goldman Sachs Asset Management and Everstone Group, Omega has more than 20,000 employees across the United States, India, the Philippines.
About Reventics
Reventics is a physician-focused clinical documentation improvement (CDI) and revenue cycle management (RCM) company. The company is changing the way the industry thinks about CDI and RCM by placing the provider at the center of its solutions. From the AI that powers Reventics' products to its physician-led delivery approach, Reventics drives an unrelenting focus on clinicians, to improve their operational and financial outcomes. Reventics' approach is based on using its C-A-T model (Clinically focused, Analytics led & Technology driven) to deliver Provider Engagement Solutions that enhance physician reimbursement and compliance while improving clinical quality measures.
KPMG Corporate Finance, LLC acted as the financial advisor to Reventics on this transaction. Financial details were not disclosed.
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