Milwaukee-based
Healthfuse, a startup providing revenue cycle vendor management services to hospitals and health systems, has been acquired by New York-based
InTandem Capital Partners.
InTandem is a private equity firm focused on health care service. Terms of the transaction were not disclosed.
Healthfuse works to help health care organizations reduce costs while increasing collection performance of vendors.
Healthfuse doesn’t charge a fee upfront, but rather retains about one-third of the overall savings it identifies for clients. The startup was founded in 2011.
“I am proud of our team’s success over the past several years and believe that InTandem’s investment is a recognition and validation of our mission: protecting and strengthening the bottom line for hospitals so they can protect and strengthen their patient communities," said
Nick Fricano, co-founder and CEO of Healthfuse. "InTandem’s investment approach matches our values at Healthfuse and their unique operational capabilities and exclusive healthcare focus will allow us to continue to build our company at a tempo that matches our passion.”
Healthfuse combines technology, analytics and research to review revenue cycle vendors and help health care organizations establish revenue cycle best practices. The company works to provide transparency around vendor processes so hospitals can better gauge their overall performance.
“In an environment where hospital and health systems are under constant pressure, and nearly one in every six health care claims are initially denied by payors, better revenue cycle management solutions are desperately needed,” said
Brad Coppens, senior partner at InTandem Capital. “Outsourcing RCM functions is not nearly enough to deliver meaningful improvement, and Healthfuse is the antidote, delivering proprietary, data-driven insights and a client services team to roll up their sleeves next to their provider partners."
