Advanced Reimbursement Management, Phoenix, said it changed its name to Adreima and acquired Hospital Inpatient Services, Fort Lauderdale, Fla., for an undisclosed amount.
Advanced Reimbursement unveils deal, new name
The deal to acquire HIS, a Medicaid and disability eligibility company, is “the first of several” and expands Adreima's geographic reach to 10 states from five, the company said in a news release announcing the deal. Private equity firm Waud Capital Partners, Chicago, owns Adreima, a revenue-cycle management company.
“With this acquisition, we are taking a significant step toward building a national footprint, expanding availability of our services at a time when hospitals increasingly face challenges associated with declining reimbursement rates as well as complex and constantly changing reimbursement rules,” said Connie Perez, Adreima's CEO, in a written statement.
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