Ventra Health announced it has joined forces with ADVOCATE RCM, a provider of premium technology-enabled revenue cycle management (RCM) services for radiology and other facility-based physician specialties.
Dallas-based Ventra is a provider of high-performance business solutions for physician practices, hospitals, health systems, and ambulatory surgery centers with deep expertise in anesthesia, emergency medicine, and hospital medicine.
“Expanding our offering to include comprehensive radiology RCM services has been a strategic priority for Ventra,” Ventra CEO Steven Huddleston said in a statement. “With ADVOCATE RCM, Ventra gains a trusted partner to independent radiology practices, facility-based groups, and large national providers, with a reputation for providing best-in-class technology solutions, industry-leading performance results, and customized client experience. The combined organization, with a unique focus on RCM excellence, shared values, and a history of delivering on promises, creates a win/win for both clients and colleagues.”
Ventra said that Dublin, Ohio-based ADVOCATE RCM will operate as a division of Ventra, and the combined organization creates one of the nation’s largest, most sophisticated technology-enabled providers of end-to-end RCM services, offering clients access to industry-leading technology, data & analytics, patient engagement, payer contracting, and automation tools.
Terms of the deal were not released.
Accelerating efforts to ‘support client needs and lower healthcare costs’
Since 1998, ADVOCATE RCM has made substantial investments in technology and innovation to build a premier billing process that produces consistent and superior revenue results for its clients, said Ventra, which added that ADVOCATE RCM’s leadership will maintain their roles in the newly combined organization.
“As facility-based physicians navigate increasingly complex reimbursement landscapes, we partner with them to manage and understand reimbursement and to deliver exceptional and consistent performance outcomes,” Huddleston said. “Ventra’s growing RCM capabilities will help ensure that our clients are paid fully and on time for the services they provide to their patients.”
ADVOCATE RCM Chief Executive Officer Todd Walker said the company is excited to join with Ventra.
“We’re excited to join forces with Ventra, an organization that shares our strong commitment to white-glove client service and technology-driven innovations that change the face of revenue cycle management,” Walker said. “As our organizations come together, I believe our combined efforts will produce innovative solutions and client-centric approaches that redefine the standard for excellence in the industry.”
Kirk Reinitz, founder and president of ADVOCATE RCM, said the move is a milestone for his company and that “Varsity Healthcare Partners’ investment, knowledge, and commitment to the combined organization will help us build on our 25-year reputation by accelerating future investments in unparalleled technology innovations that support client needs and lower healthcare costs.”
Ventra, founded in 2021, is a portfolio company of Varsity Healthcare Partners, a private equity firm focused solely on building leading healthcare companies.
Last summer, Ventra expanded client services with the acquisition of India-based ArcMed.
Baird acted as the exclusive financial adviser to Varsity Healthcare Partners and Ventra, and Lincoln International acted as the exclusive financial adviser to ADVOCATE RCM and Talisman Capital Partners on this transaction.
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