Thursday, May 19, 2016
Syncordia Technologies and Healthcare Solutions, Corp. announced that its wholly owned subsidiary Health Services
Integration Inc. (“HSI”), a leader in Emergency Medical Services (“EMS”) revenue cycle management (“RCM”), has entered into a contract extension with REACH Medical Holdings, LLC (“Reach”) a wholly owned subsidiary of Air Medical Group Holdings, Inc. (“AMGH”) pursuant to which, HSI will continue to provide RCM services for claims in existence at November 30th 2015 until May 31st, 2017.
On September 2nd, 2015 Syncordia had announced HSI’s loss of the REACH and Summit Air Ambulance LLC (“Summit”) contracts due to an RCM insourcing mandate from KKR the new owners of REACH/Summit, through AMGH, who bought AMGH from Bain Capital and Brockway Morgan and Partners in or around late spring 2015. Pursuant to the notice, HSI processed new claims until November 30th, 2015, after which HSI only processed the billing and collection of then-existing claims at November 30th 2015 until May 31st 2016. Pursuant to this new agreement effective today, HSI will continue to process the billing and collections of then-existing claims at November 30th 2015 through May 31 st, 2017 rather than May 31st, 2016 The anticipated HSI revenue from these open claims is an estimated $1.3 million.
“Syncordia is pleased it can be of assistance to AMGH” says Michael Franks CEO of Syncordia. “noting that the extended relationship further reflects the high level of confidence placed on HSI’s commitment and ability to maximize revenue for its clients.” Mr. Franks added “Syncordia’s vision is to be the dominant global leader in the revenue cycle market providing best in class simple solutions to complex problems in a world class fashion, with a customer and employee centric focus, while ensuring complete total ownership to all of the software we use. We believe that you never light a fire if you move the magnifying glass. Focus and execution are of paramount importance” We remain focused on our three-pronged growth strategy: 1) driving organic growth; 2) commercializing our SaaS solutions; and 3) completing accretive acquisitions.
Source : syncordiahealth.com
