Global software company Misys has acquired Payerpath, a US provider of internet-based solutions for processing health claims.
The deal is worth $49 million, and Misys will now combine Payerpath’s operations with its own US healthcare processing business. Current Payerpath CEO Jim Brady, will serve as president of the combined organization.
In recent years, Payerpath has established itself as a US leader in handling internet-based healthcare claim transactions and currently processes more web-based claims transactions than any other company about 50 million a year.
Tom Skelton, CEO of Misys Healthcare Systems, said, Payerpath’s business philosophy aligns well with ours at Misys Healthcare Systems. We both want to enable healthcare professionals to realize faster and more complete insurance reimbursements at a cost-effective price.
Payerpath’s quality solutions focus on each step of the reimbursement cycle providing physician practices, hospitals and payers with a high level of user functionality, revenue cycle management features and adaptability, added Mr Skelton.