Pleasanton, California (EastBayDaily) — HealthTech Solutions Group (and affiliated entities), a leading cloud-based revenue cycle management software business serving more than 150 hospitals and $10 Billion in net patient revenue, announced the acquisition of GAFFEY, a pioneer in the eligibility and billing segments of the hospital revenue cycle software industry.
The combination of HealthTech and GAFFEY creates an end-to-end revenue cycle software company dedicated to optimizing revenue capture and collection efficiency. The combined business offers hospitals and healthcare providers a unique and robust set of software tools that span the revenue cycle, including: Best-in-class technology-based solutions for: Patient Eligibility, Billing/Claims Management, Denial Management, Contract Calculation, Follow-up and Collections, Workflow Automation, and Business Intelligence Services and BPO Solutions for: Collections, Revenue Recovery Solutions, Billing Bridge Routine Consulting, and Best Practices Management
The acquisition is backed by HealthTech’s private equity sponsor, Altaris Capital Partners, a New York-based private equity firm focused exclusively in the healthcare industry.
“We are thrilled about becoming part of HealthTech and to be joining the Altaris portfolio of companies,” said HunMi Pak, CEO of GAFFEY and President of the combined business. “Their breadth of experience in building successful technology companies coupled with the deep domain expertise of the Altaris and HealthTech teams, provides GAFFEY with vast resources to draw upon as we embark on the next chapter of growth of our software and solutions to our customers.”
Derek Morkel, HealthTech’s CEO commented on the acquisition, “We are extremely excited about the addition of GAFFEY’s team and customers to HealthTech. The combination creates an end-to-end and seamlessly integrated set of SaaS-based revenue cycle software & workflow technologies. Our customers routinely are requesting solutions that reduce the number of vendors and provide a single workflow platform for their entire revenue cycle. The combination of GAFFEY’s claims management software suite with HealthTech’s workflow and automation tools will provide our customers with an even more compelling ROI.”
About GAFFEY: For over 25 years, GAFFEY has been helping hospitals improve their revenue cycle through a bundled software solution called Revenue as a Service or “RaaS” – a coupling of eligibility, billing and contract calculation solutions with complementary support services that are presented as a software-as-a-service fee-based model.
About HealthTech Solutions Group: HealthTech offers hospitals and healthcare providers software and business office services to enable them to improve productivity in order to collect more cash and collect it more efficiently. More than 30 million claims representing $10 billion of net patient revenue is collected annually on HealthTech’s AlphaCollector platform, a central business office workflow product. The company also offers claims autostatusing, retroactive Medicaid eligibility screening, and a variety of other tools and services to its more than 150 hospital customers. HealthTech is based in Plano, TX with an additional office in Nashville, TN.
For more detailed information on both companies please visit the respective websites:
HealthTech Solutions Group
Gaffey & Associates