Firstsource acquires PatientMatters for US expansion

Mumbai-based business process management (BPM) company Firstsource Solutions has acquired healthcare revenue cycle management (RCM) solutions provider PatientMatters for an undisclosed amount.   

PatientMatters, founded in 2012 and based in Orlando, Florida, provides solutions for disparate registration, bill estimation, intelligent workflows and eligibility services for hospitals and healthcare facilities.  

“The healthcare space in the US is ripe for digital disruption – a trend further accelerated by the pandemic,” Sanjiv Goenka, chairman of Firstsource Solutions, said. “This strategic acquisition magnifies our strong patient-centric revenue management capabilities and creates adjacent areas for growth for us.”  

The acquisition is expected to help Firstsource take its solutions to larger markets, such as New York and Texas, as well as add new capabilities around pre-authorization and patient bill estimation at the front-end of the RCM cycle, a statement said. 

The acquisition, it said, will integrate PatientMatters’ patient access solution InteliPass with Firstsource’s patient engagement solutions MFocus and MGagement. 

Additionally, Firstsource is also set to consolidate its healthcare provider brands MedAssist and PatientMatters under its enterprise suite of offerings.  

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“We believe our strong eligibility services and intelligent financial management workflows will support Firstsource’s strategy of putting clients at the heart of its operations and accelerating success,” David Shelton, CEO of PatientMatters, said. 

PatientMatters is owned by Boston-based private equity firm Century Equity Partners. 

Last month, the RP Sanjiv Goenka Group-owned company announced a partnership with Palo Alto, California-based Uniphore to upgrade its contact center solutions portfolio. The company, which claims to have managed over 200 million interactions for Fortune 100 firms, said Uniphore would help with deployment of AI and automation to improve customer experiences.