MEDNAX’ MedData Adds RCM Company

by | Jun 16, 2016 8:25 am | eHealth, Physician Medical Groups, Private Equity

MedData, Inc. made its second acquisition this year. The MEDNAX (NYSE: MD) subsidiary agreed to pay $400 million for revenue cycle management (RCM) company Cardon Outreach LLC, a portfolio company of Serent Capital.  Cardon Outreach provides specialized eligibility assistance, accounts receivable recovery services, third-party liability and other services. Cardon Outreach works with more than 800 hospitals and other healthcare facilities in 46 states. The acquisition is expected to be accretive to GAAP earnings. MEDNAX anticipates the acquisition will add an initial $0.06 in annualized diluted earnings per share and $0.14 in annualized adjusted earnings per share. Cain Brothers is... Read More »

MEDNAX Looks to Improve the Patient Experience

by | May 4, 2016 5:45 pm | eHealth, Physician Medical Groups

MEDNAX , Inc. (NYSE: MD), once focused exclusively on managing neonatology and anesthesia practices, is moving to manage the entire patient experience. In August 2014, it acquired MedData, Inc., a revenue cycle management company for an undisclosed price. The plan was to provide management services to facilities and physician groups beyond its then-existing footprint. A year later, in September 2015, MedData brought aboard Alegis Revenue Group, a national third-party receivables company. Alegis managed more than $3 billion in charges for more than 240 hospitals nationwide. The company’s patient-advocacy approach to eligibility and enrollment cut revenue cycle time from referral to... Read More »