Cognizant today announced it has agreed to acquire Bolder Healthcare Solutions, Louisville, KY-based provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other specialist healthcare organizations in the United States. Financial details of the acquisition were not disclosed and is expected to close in the second quarter of 2018.
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.
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.
Cognizant has continuously enhanced its expertise and capabilities to help healthcare providers and payers digitally innovate and transform for the future, including making acquisitions related to business process services and software systems. 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. “High-quality RCM solutions help providers achieve efficient management of their business, while placing more of their focus on the quality of patient care. When combined with Cognizant’s broad set of offerings for payers and providers, Bolder Healthcare Solutions’ capabilities and experts will open new market opportunities as we enable more payers and providers to embrace outcome-based models and innovate with data analytics, cognitive computing and robotic process automation for more efficient management of their businesses and ultimately better patient outcomes.”