Cymetrix Acquires CareClarity to Enhance Its Revenue Cycle Business Intelligence Capabilities
Acquisition expands Cymetrix’s SaaS offerings by enhancing its proprietary technology and operations.
IRVINE, Calif., Feb. 26, 2013 /PRNewswire/ — Cymetrix, a national leader in providing healthcare organizations and hospital-affiliated physician practices with comprehensive revenue cycle management solutions and consulting services, today announced the acquisition of CareClarity, a premier healthcare analytics software-as-a-service (SaaS) company.
With customers and partners in United States and United Kingdom, CareClarity offers compelling revenue cycle management SaaS solutions that help healthcare providers achieve better financial results. Teaming with Healthcare Financial Management Association (HFMA), CareClarity assisted in the development of the MAP App, a web-based revenue cycle benchmarking application. Additionally, CareClarity partnered with Maxwell Stanley Consulting to design and implement an online ICD-10 coding quality assurance and e-learning suite for the National Health Service Trusts in the UK, the world’s largest publicly funded health services.
The acquisition complements Cymetrix’s revenue cycle management solutions by enhancing its proprietary technology platform and analytic capabilities. The addition of CareClarity’s innovative business intelligence, proprietary technology and SaaS operations further expands Cymetrix’s capabilities to help customers accurately capture information and share essential insights.
In addition to the acquisition, Doug Stark, founder and CEO of CareClarity, joined Cymetrix as senior vice president, technology operations and products. He will be responsible for Cymetrix’s and CareClarity’s combined SaaS solutions and will work closely with customers, partners and operations leaders to maximize the results Cymetrix delivers in a cost efficient manner.
“We are excited to integrate CareClarity’s wealth of business intelligence capabilities and resources to further enhance our solutions and enable us to create even better ways to optimize our customer’s revenue cycle,” said Michael Halberda, Cymetrix president and CEO. “Together, we will help healthcare providers realize new efficiencies while never losing sight of the patient experience.”
CareClarity (http://www.careclarity.com/), founded in 2009, a San Francisco-based health analytics company, with compelling documentation, coding and revenue cycle management SaaS solutions that help healthcare providers fully capture revenues with reduced compliance risks.
Cymetrix (www.cymetrix.com) is a comprehensive revenue cycle management company providing healthcare organizations and hospital-affiliated physician practices with end-to-end revenue cycle solutions and consulting services that deliver sustained improvement in performance and profitability. A privately held Delaware Corporation, Cymetrix has corporate headquarters in Irvine, Calif., and business processing centers in Los Angeles, Dallas, and Nashville. Cymetrix’s equity partner is Riordan, Lewis & Haden, a private equity investment company based in Los Angeles.