ModuleMD Acquires Diversified Healthcare and MedEase to Expand Revenue Cycle Management Footprint

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Module MD Healthcare Solutions Pvt. Ltd.

Sep 04, 2023, 12:00 ET

GRAND BLANC, Mich., Sept. 4, 2023 /PRNewswire/ -- ModuleMD, a leading healthcare technology and services company, announced today that it has acquired Diversified Health Care Management, Inc. ("Diversified") and MedEase Practice Management software (DBA Professional Management Services, Inc. or "MedEase"), two pioneers in the Revenue Cycle Management ("RCM") industry with over 75 years of combined experience. With the addition of Diversified and MedEase, ModuleMD expands its commitment and investment in healthcare claims management.

Diversified and MedEase have a proven track record with their leading Practice Management platform and full RCM services. The combination of Diversified and MedEase with ModuleMD will enable clients to automate several Payer and Provider functions, increase efficiencies, and improve financial performance. It will further establish ModuleMD as a top technology partner for ambulatory care practices, medical billing companies and enterprises.

"The Healthcare claims management industry is evolving rapidly, with changes in reimbursement and care delivery models, including virtual care and value-based care. At ModuleMD, we are integrating technological capabilities from Robotic Process Automation (RPA), Analytics, and AI across the entire claims value chain," said ModuleMD CEO, Abhinay Rao Penugonda. "Healthcare IT, including Electronic Health Records and Practice Management software have been through the cycle of being presented as unbundled solutions to a single bundled product. Now, with new technologies, once again, we are seeing this phase of unbundled point-focused solutions that deliver efficiency and transparency to meet the needs of Payers and Providers. Clients are at different stages of technological adoption, but the common thread is that there is significant room for automation and intelligence in Practice Management software. We are excited about the synergies that will arise from combining our talents and resources with Diversified and MedEase."

Along with a substantial client-base in the northwestern United States region, Diversified and MedEase bring an exceptional team of professionals with a wealth of experience and fresh perspectives to ModuleMD. As part of the acquisition, Diversified and MedEase's key executives and all staff members will join the ModuleMD team, ensuring a seamless transition and continued excellence in service delivery.

The acquisition is expected to yield numerous benefits for clients, including expanded service offerings and enhanced technological capabilities, all under the umbrella of a single system of record. Clients of ModuleMD, Diversified Health Care, and MedEase will now have access to a broader suite of solutions that address their specific RCM challenges.

"Joining forces with ModuleMD opens up new avenues of growth and innovation for our team. We are excited about the possibilities that lie ahead and are confident that this partnership will enable us to achieve even greater heights together," shares Mike Beaty, Business Manager for Diversified and MedEase, "What I like most is the alignment of the core values of ModuleMD with that of Diversified Health Care and MedEase. ModuleMD started as a Practice Management first company. They understand the complexities of the RCM business. I anticipate growing with ModuleMD and am excited for Diversified and MedEase to become fully integrated as part of the ModuleMD family."

Joeseph Beaty, President and CEO at Diversified and MedEase comments, "This opportunity with ModuleMD will usher in exciting new opportunities for all our employees and clients, as ModuleMD brings fresh perspectives and innovative ideas to the table."

During this transition, ModuleMD is committed to maintaining the high standards of quality and service that ModuleMD, Diversified Health Care, and MedEase clients have come to expect.

The acquisition of Diversified and MedEase by ModuleMD reflects the companies' shared vision for the future of the RCM landscape. Together, they are poised to lead the way in shaping the industry and driving innovation.

About ModuleMD

ModuleMD is a leading physician-designed SaaS (Software-as-a-Service) provider. With over two decades of experience, ModuleMD offers specialty-specific workflows, Electronic Health Records, Practice Management software, Full Revenue Cycle Management services, and Patient Engagement. ModuleMD's software provides flexibility and is designed to enhance clinical performance and increase efficiency and ROI for medical practices. The Company's bi-directional partner integrations further enhance product offerings and improve overall practice workflow.

About Diversified Management, Inc.

When Diversified Health Care Management, Inc. was founded in 1986, their work was built on a handshake and the promise of quality service. Diversified Health Care Management, Inc.'s many years of experience providing billing, coding, and consulting services to Alaska and surrounding medical communities is evident in their commitment to excellence and to the medical practices they serve.

About Professional Management Services, Inc.

Founded in 1976, Professional Management Services, Inc. is a cloud-based medical software company that develops and maintains their MedEase Practice Management software for medical practices and Revenue Cycle Management companies.

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SOURCE Module MD Healthcare Solutions Pvt. Ltd.