HealthEdge Software acquires payment integrity software company Burgess
HealthEdge acquisition of Burgess : HealthEdge Software has acquired The Burgess Group, a payment integrity software company focused on enhancing healthcare payment operations by using technology.
Financial terms of the deal were not disclosed.
Burgess, which is based in Virginia, has developed a cloud-based platform called Burgess Source which is said to natively bring together latest regulatory data, claims pricing and editing, and also real-time analytics tools.
On the other hand, HealthEdge Software has developed HealthRules Payor, an integrated financial, administrative, and clinical platform for health insurers.
Steve Krupa, the CEO of HealthEdge Software, and Greg Burgess, the founder and president of Burgess, are said to have formed a strong relationship around their mutual passion for automating the transactional systems for health plan claims processing and payments via a cloud-computing infrastructure.
Steve Krupa, commenting on HealthEdge acquisition of Burgess, said: “Greg and I realized our like-minded mission to enhance operational efficiency for health plans through our next-generation platforms would create momentum in the healthcare payor marketplace. We both spearhead entrepreneurial and innovation-driven organizations, and our shared desire to impact healthcare by overcoming the limitations of current solutions, have resulted in our coming together to create a robust, thriving, growth-oriented company built on disruptive healthcare payor technology.”
HealthEdge Software acquisition of Burgess comes after the recent acquisition of a majority stake in the formed by funds managed by Blackstone.
Greg Burgess said: “After 23 years, I’ve discovered a partner in Steve and the HealthEdge team, who understand our passion in designing and delivering the industry’s first cloud-native payment integrity ecosystem. Working together we will accelerate our shared vision to challenge the inefficient status quo in claims administration.
“As one combined company, we can offer our existing complementary solutions while we collaborate to introduce another industry first: an end-to-end unified claims processing, payment integrity, and adjudication platform capable of delivering first pass payment accuracy to providers. By harnessing cloud technologies, we will bring data integration, reimbursement accuracy and accountability, to an elevated level of precision, empowering the industry to realize point of service payments.”
For HealthEdge Software and Blackstone, TripleTree was the financial advisor, while Debevoise & Plimpton was legal advisor. For Burgess, the financial advisor was Seabrook Partners, while Vedder Price was legal advisor.