CentraMed acquires denials management software firm Velocette Solutions adding to its healthcare analytics portfolio.
CARLSBAD, CA – June 21, 2012 – CentraMed, Inc., a provider of industry-leading healthcare analytics (SaaS) and consulting services announced that it has acquired Velocette Solutions, a national denials management and Medicaid eligibility analytics company. The purchase will give CentraMed’s national client list additional technology solutions to increase their bottom line. Velocette will join CentraMed at their corporate location in Carlsbad CA.
Velocette Holding Company, Inc., founded in 2008, is a cloud-based healthcare technology provider for Denials Management which provides insightful data and reports that help clients address the underlying causes of many types of denied payments and take steps to minimize denials from occurring in the first place. Velocette also provides Medicaid Eligibility and Cross-platform HIS audit technology solutions for providers across the country. Wayne Gill, Managing Partner and Founder of Velocette, will be named Vice President of Healthcare Solutions for the combined company.
“By adding Velocette’s complimentary denials management and eligibility solutions, we expand our analytics portfolio, and allow our clients an important opportunity to optimize net revenue through our cost to cash continuum,” said Vik Torpunuri, CEO of CentraMed. “Furthermore, the denials and eligibility solutions give clients a low-cost, subscription-based solution with high return on investment.”
About CentraMed, Inc.
CentraMed (www.centramed.co) allows hospitals, physicians and payers to achieve a 360-degree view of clinical and financial data across the health enterprise. CentraMed’s SaaS healthcare business intelligence platform, combined with deep subject matter expertise, enables decision-makers to identify and modify practices and organizational behaviors to optimize financial performance. Organizations can analyze large-scale clinical and financial data to better navigate the quality improvement and payment reforms sweeping the healthcare ecosystem.
Over the past decade, CentraMed’s healthcare business intelligence platform combined with deep subject matter expertise has helped CentraMed’s clients increase net revenue by approximately $1.1 billion.