Transaction Unites Leading Outsourced RCM Provider with Coding & Registry Firm
Omega Healthcare, a leading provider of outsourced revenue cycle management and other healthcare support services, today announced the acquisition of himagine Solutions, a St. Louis, MO-based provider of medical coding and registry services.
The transaction expands the service capabilities and geographical footprint of both companies, enhancing the ability to service clients globally.
Through this acquisition, Omega Healthcare will be able to expand both its global delivery model and its clinical services portfolio. himagine’s US delivery capabilities strengthen Omega’s ability to support clients with a more integrated end to end solution.
Omega also gains himagine’s expertise in clinical documentation improvement (CDI), coding audits, and chart abstraction for medical registries including the U.S. cancer and trauma registries.
Revenue cycle management
himagine benefits from major additions to its capabilities including Omega’s end-to-end revenue cycle management and patient interaction services, as well as access to Omega’s extensive analytics and automation offerings.
This acquisition is part of Omega’s growth strategy, supported by the company’s investors, Goldman Sachs Merchant Banking and Everstone Group.
Omega Healthcare CEO Gopi Natarajan said the acquisition is a natural extension of the company’s ongoing efforts to provide clients with end-to-end RCM solutions and enhanced clinical capabilities which are now driven by Value-Based Payment models.
“This is the next step on a journey to continue innovating in our space and maintain our leadership status,” said Gopi Natarajan.
Commenting on the development, Omega Healthcare President Anurag Mehta said joining forces with himagine equips us with key new clinical abilities, a truly global delivery model with larger stateside resources, and a bigger pool of talent for serving client needs.
himagine Solutions CEO Michael DiMarco said teaming with Omega offers major services and scalability benefits that will help the company to build even stronger relationships with our client base.
“With almost 18,000 employees worldwide, a broad suite of RCM services, and the ability to leverage Omega’s proprietary technology solutions, we are in an ideal position to help clients simplify their health information management needs,” said himagine Solutions CEO Michael DiMarco.
Both companies will continue to operate under their existing brands. Gopi Natarajan would continue to serve as the CEO of the combined entity, Anurag Mehta continues in his role as President, and Michael DiMarco will assist with the integration of the two companies, then focus on driving revenue growth of the combined provider business unit as the Chief Revenue Officer.
The transaction closed on March 10, 2021. Financial details were not disclosed.
Omega Healthcare helps payers, providers and pharmaceutical companies eliminate administrative burdens, accelerate cash flow, and reduce health management costs while enhancing patient care.
The company streamlines medical billing, coding and collections processes and also provides virtual nursing services, including triage, care continuation, clinical documentation improvement and re-admittance avoidance.
Combining the largest medical coding staff in the world with proprietary technology, analytics and automation capabilities, Omega provides the most comprehensive outsourced solutions in the industry and is ranked among the top revenue cycle management business process services by industry analysts.
The company, backed by Goldman Sachs Merchant Banking and Everstone Group, was founded in 2003 and has more than 17,000 employees across India, the Philippines and the United States.
himagine is a privately held HIM outsourcing company with more than 850 U.S. employees supporting 250 clients across 50 states. The company is 100% focused on the healthcare industry, working with children’s and specialty hospitals, academic medical centers, large health systems, small rural and secondary market facilities, and physician and group practices across multiple specialties.