BOCA RATON, Fla. and TORRANCE, Calif., Oct. 7, 2022 /PRNewswire/ — Knowtion Health, formerly RSource Healthcare, and Amplus announced today that Knowtion Health has acquired Amplus, a healthcare revenue cycle A/R resolution and technology service. The acquisition of this stellar team of engineers, patient representatives, and billers will accelerate Knowtion’s plan to expand low balance recovery technologies to reach Knowtion’s scalability goals. The two companies will leverage and combine their vast revenue cycle management (RCM) capabilities to fuel growth in the healthcare sector.
“There are low balance recovery solutions in the market, but they don’t move the needle on accounts receivable or reduce bad debt enough to be impactful, let alone address all the stages of a claim cycle,” said Jayson Yardley, CEO of Knowtion Health. “Through our combined technologies and low balance claim experts, we can bring a new recipe to claims resolution never before available at this level. With the use of machine learning data patterns, we’ll provide claims knowledge that brings innovative change-of-behavior ideas, meaningful feedback, reimbursement trends, and denial information for health system business offices that want to drive better outcomes in the often-neglected low balance A/R inventories.”
“Amplus is thrilled to join Team Knowtion Health,” said Satchel Kiefer, Managing Director and CEO of Amplus. “Our team is passionate about technology and supporting accounts receivables at health systems throughout the U.S., and it is an honor to bring our combined solutions to hundreds more health systems each day.”
“As a part of Knowtion Health, the Amplus team will provide important contributions to Knowtion’s 90-day plans to proactively identify, address and enhance capabilities of the low balance program,” Yardley said. “The teams will work together to leverage our broad and complementary solutions to determine a future-stage, low balance offering. There is an immense opportunity to provide better predictors of revenue and how to accelerate it. We can do these using our analytical technologies to drive cleaner A/R and intelligently prioritize accounts to optimize cash and reallocate resources to higher yield activities.”
For the past five years Amplus has utilized the latest in machine learning and automation to support accounts receivable (A/R) for health system revenue cycles. “Their stellar reputation and depth of expertise will further expand Knowtion’s team and geographical footprint,” Yardley said. “Together we’ll serve more health systems and patients with solutions to automate and reduce A/R, resolve denied and complex claims, recover low balance accounts and defend health systems against payer audits to improve reimbursements.”
“Knowtion Health and Amplus, both recently ranking as an Inc 5000 fastest-growing company, will continue to retain their aligned values and heritage, while evolving to reflect the modern, technology-enabled presence of our revenue cycle solutions,” Yardley said. “Our recent brand change in June 2022 was spurred from the idea we call, The Claims Game,” Yardley continued. “In a world where the balance of power has always favored the payers and the rules of determining coverage and the processing of hospital claims have grown complex, too many healthcare providers and their patients have been stuck in a claims game they just can’t win. We’ve found a way to give hospitals and their patients more control over their destiny and get the revenue they are owed. Combining our team with Amplus expands our company’s mission to provide more smarts, more tech, and more passion.”
About Knowtion Health
Knowtion Health helps the health system revenue cycle resolve denied and complex claims, recover low balance accounts, and defend against payer audits, tipping the balance of power back to the provider. The company is ranked as an Inc 5000 fastest-growing company and is a distinguished, multi-year recipient of the Black Book award honoring the company as a top partner by provider clients. The name “Knowtion” is the combination and intersection of knowledge and innovation. Knowledge encompasses the expertise of our dedicated employees and the valuable services they deliver to providers and patients. Innovation represents the automation, analytics, workflows, and processes used in providing tech-enabled services to our clients. The company is uniquely positioned to deliver claims denial management solutions to hospitals and health systems of all sizes and types. Knowtion Health is owned by Sunstone Partners, a private equity firm based in San Mateo, CA, since August 2020. KnowtionHealth.com – You’ve Got This Now.
About Sunstone Partners
Sunstone Partners is a growth-oriented private equity firm, based in San Mateo, California, that makes majority and minority investments in technology-enabled services and software businesses. Recognized as Inc.’s 2020 PE 50 founder-friendly private equity firms for entrepreneurs, the firm seeks to partner with exceptional management teams, often as their first institutional capital partner, to help accelerate organic growth and fund acquisitions. Founded in 2015, the firm has $800 million of committed capital to its first two funds. Sunstonepartners.com
Contact: Christine Hanson-Ehlinger, Marketing, 561-995-1252, [email protected]
SOURCE Knowtion Health
