Cognizant completes acquisition of Bolder Health Solutions
Cognizant has completed its acquisition of Bolder Healthcare Solutions, a provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other US specialist healthcare organisations.
Bolder Healthcare Solutions expands Cognizant's range of digital healthcare solutions, enabling it to better address the large provider segment of the US healthcare market. Kentucky-based Bolder Healthcare Solutions provides RCM solutions for hospitals, hospital outpatient departments, physician practices, and other specialty care providers.
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.
- Three industries ripe for IoT transformation in 2018
- Digital health funding smashes expectations, hits $1.62bn in Q1
- A Sound Investment
"The addition of Bolder Healthcare Solutions to the Cognizant portfolio enables us to offer more services to a broader range of healthcare providers and equip them with a digital foundation for outcome based models and greater efficiency," said Kaushik Bhaumik, Executive Vice President and Global Head of Healthcare at Cognizant.
"Bolder Healthcare Solutions' impressive capabilities, processes and experts provide the specialised RCM approach care providers need to enhance their financial performance, ensure regulatory compliance and increase focus on quality of patient care."
The RCM market was valued at $23.6bn in 2016, and is expected to grow at a CAGR of 12%, according to recent research.
“Healthcare providers are currently trying to find a balance between the value-based care model and the traditional model. Their efforts have made revolutionary changes in trends such as increasing the outsourcing volume and automation of healthcare management,” the research has noted.