Trips to the hospital tend to be pricey endeavors, not only for the patient but for the hospital as well. The latter is due in part to healthcare underpayments from public and private insurers, a matter Atlanta-based Cloudmed is actively working to remedy. The company builds software solutions meant to help healthcare systems receive total payment for their services, and it’s building out its capabilities with its latest acquisition.
Cloudmed offers a solution that uses intelligent automation and human expertise to help healthcare providers enhance their productivity and increase their revenue. The CloudmedAI platform serves as a centralized place for its revenue identification, workflow automation and analytics tools. The company partners with more than 3,100 healthcare providers nationwide and recovers more than $1.5 billion a year of underpaid or unidentified revenue for its clients, according to the company.
On Thursday, the healthtech company announced it acquired Wisconsin-based Eligibill, a company that offers hospitals insurance discovery and clearinghouse services. Its platform is able to quickly integrate with commercial and government payers, a capability that compliments Cloudmed’s analytics and automation tech. The move follows Cloudmed’s acquisition of Managed Care Revenue Consulting Group back in July.
“As the complexity of government and commercial insurance reimbursement continues to increase, revenue cycle expertise powered by technology is becoming even more critical in healthcare,” Steve Albert, Cloudmed’s chief product officer, said in a statement. “Integrating Eligibill’s technology and insurance discovery capabilities into the CloudmedAI platform will help our customers more easily automate, accelerate and optimize their most critical revenue management functions.”
Cloudmed is currently hiring for a range of Atlanta-based and remote positions. It lists open roles across departments including content, analytics, management, engineering and sales, to name a few.