ModuleMD Expands Its Presence in Revenue Cycle Management with Diversified Health Care Management and MedEase Acquisition
Monday, September 04, 2023
ModuleMD, a prominent healthcare technology and services company, has recently announced its acquisition of two distinguished players in the Revenue Cycle Management (RCM) sector: Diversified Health Care Management, Inc. (referred to as "Diversified") and MedEase Practice Management software (operating under the name Professional Management Services, Inc., or "MedEase"). These companies, with a cumulative experience spanning over 75 years, are well-established leaders in RCM. This strategic acquisition underscores ModuleMD's deepening commitment to the healthcare claims management industry.
Both Diversified and MedEase have earned their acclaim through their innovative Practice Management platform and comprehensive RCM services. By integrating these firms into its portfolio, ModuleMD empowers its clients to streamline various functions within the Payer and Provider realms, optimize operational efficiencies, and strengthen financial performance. This acquisition further solidifies ModuleMD's position as a premier technology partner for ambulatory care practices, medical billing companies, and enterprises.
Abhinay Rao Penugonda, the CEO of ModuleMD, recognized the rapid evolution of the healthcare claims management landscape, stating, "The healthcare claims management industry is undergoing significant transformations due to changes in reimbursement methods and care delivery models, including the increasing prominence of virtual care and value-based care." He emphasized, "At ModuleMD, we are actively incorporating cutting-edge technologies like Robotic Process Automation (RPA), Analytics, and AI throughout the entire claims value chain." Penugonda expressed anticipation for the synergies that will result from the amalgamation of ModuleMD's expertise with that of Diversified and MedEase.
In addition to expanding ModuleMD's client base in the northwestern United States, Diversified and MedEase bring a team of seasoned professionals with fresh perspectives to the organization. Key executives and staff members from Diversified and MedEase will make a seamless transition to the ModuleMD team, ensuring continuity and upholding high service standards.
This acquisition offers numerous advantages to clients, including access to an expanded range of service offerings and enhanced technological capabilities, all within a unified system of record. Clients of ModuleMD, Diversified Health Care, and MedEase will now have access to a comprehensive suite of solutions tailored to address their specific RCM challenges.
Mike Beaty, Business Manager for Diversified and MedEase, expressed optimism about the partnership, saying, "Uniting with ModuleMD opens up new avenues for growth and innovation for our team. We're excited about the possibilities that lie ahead." He underscored the alignment of core values between ModuleMD, Diversified Health Care, and MedEase.
Joseph Beaty, President and CEO at Diversified and MedEase, shared his enthusiasm, stating, "This opportunity with ModuleMD will usher in exciting new prospects for all our employees and clients, as ModuleMD introduces novel perspectives and creative concepts into the discussion."
Throughout the transition, ModuleMD remains unwavering in its commitment to maintaining the high standards of quality and service that its clients have come to expect.
The acquisition of Diversified and MedEase by ModuleMD signifies a shared vision for the future of the RCM landscape. Together, they are poised to lead the industry and drive innovation forward.