MINNEAPOLIS, March 12, 2019 /PRNewswire/ -- Visionary RCM Infotech (VRCM), a company that specializes in risk adjustment, medical coding and RCM services, today announced the appointment of healthcare IT and services veteran John Wallace as Group CEO, a newly created role, and the plan to broaden its support operations in the United States. Global investment firm The Carlyle Group owns a majority stake in VRCM.
"With significant increase in demand within both the payer and provider sectors for Visionary RCM's core services, we believe it is an ideal time to expand our U.S.-based support operations to further enhance our services to customers and partners," said Stephen Wise, Managing Director and Head of The Carlyle Group's Global Health Care team. "John's extensive experience in building and leading healthcare IT and services teams and his in-depth knowledge across these markets, makes him the right person to push forward Visionary Group's future development."
Wallace joins Visionary Group from Change Healthcare where he most recently served as president and COO of ACO Partner, a Change Healthcare and Blue Cross Blue Shield joint venture. Previously, Wallace served as Senior Vice President and general manager of accountable care services for McKesson (now Change Healthcare). Wallace is the former president and Chief Operating Officer of MED3OOO Practice Resources and the former Chief Commercial Officer of mPay Gateway. He began his health IT and services career with Misys Healthcare, after spending four years as the director of strategic planning and business development for The Louisiana Clinic.
"I am honored to join Visionary Group as the firm looks to accelerate its growth in the U.S.," said Wallace. "The Visionary team has a deep understanding of the markets we serve and a proven track record in helping organizations improve their financial performance. Carlyle's backing has been an indispensable part of this success, providing support through its healthcare-related portfolio companies, financial strength and strong market presence. It's an exciting time in the industry and I look forward to advancing our performance goals and expanding the delivery of high-quality services to our customers and partners."
"We are delighted to continue this journey with John and the VRCM leadership as the firm embarks on the next phase of U.S. growth initiatives," said Neeraj Bharadwaj, Managing Director of Carlyle India Advisors Private Limited. "Risk adjustment, medical coding and RCM services are high-growth markets and VRCM is very well-positioned to capitalize on future opportunities."
VRCM, founded in 2006, is the market leader for global risk adjustment solutions and serves the top 10 U.S. healthcare payers. In addition to medical risk adjustment coding, VRCM's offerings include medical record audits, diagnostic and procedural coding services for hospitals and physicians, and support for RCM. VRCM capitalizes on demand for high-quality and efficient risk-adjustment, medical coding, revenue cycle management and related services, which is rising significantly as more payers and providers seek to control administrative costs and shift to value-based reimbursement models, such as Medicare Advantage plans.
VRCM employs 3,000 highly-skilled employees who are committed to operational excellence, integrity and the delivery of high value services to their payer and provider clients. Through its ongoing training programs and technology assets, VRCM ensures its workforce has the deep domain expertise that is required to effectively address the intricacies of its service offerings.
VRCM is HIPAA-compliant organization with presence in Minneapolis, MN and with four global delivery centers in India.