Strategic combination adds a dedicated radiology offering to Ventra Health, creating an industry leader in technology-enabled RCM services for facility-based physicians
DALLAS, Jan. 8, 2024 /PRNewswire/ -- Ventra Health ("Ventra") announced today that it has combined forces with ADVOCATE RCM, a provider of premium technology-enabled revenue cycle management (RCM) services for radiology and other facility-based physician specialties. Ventra is a leading provider of high-performance business solutions for physician practices, hospitals, health systems, and ambulatory surgery centers with deep expertise in anesthesia, emergency medicine, and hospital medicine. ADVOCATE RCM will operate as a division of Ventra, and the combined organization creates one of the nation's largest, most sophisticated technology-enabled providers of end-to-end RCM services, offering clients access to industry-leading technology, data & analytics, patient engagement, payer contracting, and automation tools.
"Expanding our offering to include comprehensive radiology RCM services has been a strategic priority for Ventra," said Steven Huddleston, Ventra CEO. "With ADVOCATE RCM, Ventra gains a trusted partner to independent radiology practices, facility-based groups, and large national providers, with a reputation for providing best-in-class technology solutions, industry-leading performance results, and customized client experience. The combined organization, with a unique focus on RCM excellence, shared values, and a history of delivering on promises, creates a win/win for both clients and colleagues."
Since 1998, Dublin, Ohio-based ADVOCATE RCM has invested substantial capital in technology and innovation, building a premier billing process that produces consistent and superior revenue results for its clients. ADVOCATE RCM's leadership will maintain their roles in the newly combined organization.
Mr. Huddleston continued, "As facility-based physicians navigate increasingly complex reimbursement landscapes, we partner with them to manage and understand reimbursement and to deliver exceptional and consistent performance outcomes. Ventra's growing RCM capabilities will help ensure that our clients are paid fully and on time for the services they provide to their patients."
"We are excited to join forces with Ventra, an organization that shares our strong commitment to white-glove client service and technology-driven innovations that change the face of revenue cycle management," said Todd Walker, CEO, ADVOCATE RCM. "As our organizations come together, I believe our combined efforts will produce innovative solutions and client-centric approaches that redefine the standard for excellence in the industry."
Ventra is a portfolio company of Varsity Healthcare Partners, a private equity firm focused solely on building leading healthcare companies. "Today marks a defining moment for ADVOCATE RCM," said Kirk Reinitz, President and Founder, ADVOCATE RCM. "Varsity Healthcare Partners' investment, knowledge, and commitment to the combined organization will help us build on our 25-year reputation by accelerating future investments in unparalleled technology innovations that support client needs and lower healthcare costs."
Baird acted as the exclusive financial advisor to Varsity Healthcare Partners and Ventra, and Lincoln International acted as the exclusive financial advisor to ADVOCATE RCM and Talisman Capital Partners on this transaction.
About Ventra Health
Ventra is a leading business solutions provider for facility-based physicians practicing anesthesia, emergency medicine, and hospital medicine. Focused on Revenue Cycle Management and Advisory services, Ventra partners with private practices, hospitals, health systems, and ambulatory surgery centers to deliver transparent and data-driven solutions that solve the most complex revenue and reimbursement issues, enabling clinicians to focus on providing outstanding care to their patients and communities.
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SOURCE Ventra Health
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