Healthcare billing platform AdvancedMD has acquired fellow medical services provider Nuesoft Technologies, for an undisclosed amount.
Together the companies will be able to offer increased support for a broader spectrum of practices. Following the transaction, AdvancedMD’s North American footprint will increase by 27 per cent, growing its medical practice clients and practitioners to 11,000 and 33,000, respectively.
Following the acquisition, NueMD’s customers will gain access to gain access to a broader selection of clinical and patient engagement solutions. Whilst AdvancedMD’s clients will benefit from new clearinghouse capabilities.
AdvancedMD will continue to search for other companies it can acquire and merge.
Utah-based AdvancedMD is an end-to-end platform that automates aspects of clinical and business workflows for independent physician practices and medical billing services. Services offered by the company include, in-house billing, scheduling, reporting and benchmarking, patient cards, electronic prescribing, patient portals, patient messaging and bulling visibility.
Its billing software enables businesses to manage claims and bills, as well as automating most of the processes involved with these tasks.
NueMD is a SaaS platform which provides practice management, clinical and medical billing and electronic health records. Its billing services help healthcare providers with reimbursements, receive on-demand reports and implement selected payments.
AdvancedMD CEO Raul Villar said, “The acquisition of NueMD is the logical next step for expanding our cloud network of practitioners and physicians who have learned to use end-to-end workflow automation to improve their bottom line and the health of their patients.”
There have been a handful of healthcare FinTech companies to complete deals in recent months. Last week, patient financial management solution Cedar raised $36m in its Series B funding round. The company helps healthcare providers to improve payment processes through the use of AI to increase outreach strategies.
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