FRISCO, Texas--(BUSINESS WIRE)--Conifer Health Solutions®, the nation’s leading provider of
technology-enabled healthcare performance improvement services, has
entered into a definitive agreement to acquire SPi
Healthcare, a provider of innovative revenue cycle management (RCM),
health information management (HIM) and software solutions for
independent and provider-owned physician practices. Conifer expects to
complete the transaction, valued at $235 million, in the fourth quarter
of 2014. John O’Donnell, SPi’s chief executive officer, will join
Conifer’s senior management team reporting to Stephen M. Mooney,
President and CEO.
“The SPi leadership team has achieved decades of sustained growth. They
are now a recognized leader in the physician revenue cycle marketplace
with a reputation for service delivery excellence,” said Mooney. “We
believe the combined organization will drive incremental growth for
Conifer by creating an enhanced value proposition for physicians in a
variety of care settings—including integrated delivery networks—that are
seeking to improve their operational performance in the era of
value-based care and other changes in healthcare delivery and financing.”
Based in Tinley Park, Illinois, SPi provides business operations
services to physician practices and independent practice associations
(IPAs). In addition to specialized RCM solutions including denials
management, SPi provides recovery audit contractor (RAC) audit defense
and preparedness services and ICD-10 gap analysis and education. The
organization also offers payer contract management and software
consulting capabilities, including a demonstrated expertise with Epic
and GE Healthcare electronic health records (EHRs). “Nearly 50 percent
of large practices utilize GE or Epic EHRs. SPi’s long-term experience
with these technology platforms represents an important pathway for
additional growth for Conifer,” noted Mooney.
SPi will enhance Conifer’s already expansive services portfolio and
solidify its position as a sole-source provider of revenue cycle
management and value-based care solutions to healthcare providers and
other healthcare industry segments. SPi’s 600 employees serve more than
3,700 physicians across 21 states, handling over $3 billion in physician
charges, coding approximately 2.5 million encounters, and auditing
approximately 150,000 health records annually. The Tinley Park offices
and SPi’s six service centers will continue to serve existing and future
physician RCM clients.
“We are pleased to be joining Conifer, which shares our unparalleled
commitment to consistently exceed the expectations of our clients,”
noted John O’Donnell, SPi Healthcare president. “Together our deep
operational capabilities, coupled with our understanding of the
challenges and opportunities for providers in today’s dynamic healthcare
environment, will set us apart from our collective competition.”
About Conifer Health Solutions
Conifer Health Solutions is a healthcare services company helping more
than 700 clients strengthen their financial performance, transition from
volume to value-based care and enhance the consumer and patient
healthcare experience, with the goal of improving quality and access to
healthcare, while controlling costs. Conifer supports more than 19
million patient interactions across all service lines, manages more than
$25 billion in patient revenue and $17 billion in medically managed
spend; and provides technology and health management services to support
care management for more than 4 million lives, annually. For more
information, visit coniferhealth.com and follow @coniferhealth on
Twitter.
About SPi Healthcare
SPi Healthcare is the combination of two industry-leading organizations,
Springfield Service Corporation (SSC) and Laguna Medical Systems (LMS),
and is today a wholly-owned subsidiary of SPi Global, one the world’s
leading global business process outsourcing firms. SSC began providing
revenue cycle management and physician billing services in 1986. LMS
began providing health information management (HIM) services in 1987.
SSC was purchased by SPi Global in April 2007, and LMS was purchased by
SPi Global in August 2009. In October 2011, SSC and LMS were united
under the SPi Healthcare brand.
