Nasdaq listed IT services major Cognizant Monday announced to acquire Bolder Healthcare Solutions, a US based firm having interest in healthcare services. The privately-held firm is provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other specialist healthcare organizations in the United States.
Cognizant did not offer any financial details of the deal. The transaction is expected to close in the second quarter of 2018, the company said in a statement.
RCM software and processes integrate and automate healthcare administrative and medical data to ensure benefit eligibility and accurate billing and collections, greatly reducing the time between delivery of service to payment received. Louisville, Kentucky-based Bolder Healthcare Solutions is one of the fastest growing RCM companies, serving many of the largest U.S. health systems. Their RCM offerings will further expand Cognizant’s leading healthcare consulting, IT and business process services into more hospitals, hospital outpatient departments, physician practices, and other specialty care providers.
Bolder Healthcare Solutions will enable Cognizant to expand its range of digital solutions across the healthcare value chain and address the large provider segment of the U.S. healthcare market.
“As the healthcare industry continues to undergo significant transformation to a value-based care model, digital RCM services and solutions remove complexity and allow providers to streamline their operations,” said Kaushik Bhaumik, Executive Vice President and Global Head of Healthcare at Cognizant.
Michael Shea, CEO of Bolder Healthcare Solutions, said, “By joining forces with Cognizant, we will have many new tools that will be a catalyst for future growth. The increased capabilities will allow Bolder to continue to be on the cutting edge of provider RCM and this forward looking combination will create new opportunities for Cognizant in the hospital provider, specialty physician, and other professional markets. We are bringing together an impressive level of expertise, best-in-class processes and technologies to help providers meet the many challenges they face.”