Two Miami medical billing and collections firms on Wednesday announced a deal they say will allow them to integrate front-office and back-office business services for physician practices.
Avisena, a physician practice technology and services company, says it has purchased the assets of Med Billing Services, a 12-year-old, 40-employee company that handles billing and collections for practices in South Florida.
Terms of the deal, involving two closely held firms, were not disclosed.
According to the companies, the combined operation will help medical practices integrate and automate practice-management and revenue-cycle functions.
Avisena, whose founders include a former Oracle Corp. executive and a former Bear Stearns senior financial analyst, sells proprietary billing and collections software that handles coding and HIPAA-specified transactions and is accessible via the Internet, says Phil Weinbach, a public relations consultant to Avisena.