Revenue cycle firm Conifer Health Solutions on Tuesday said it has expanded its 10-year partnership with Catholic Health Initiatives to provide its slate of financial services to 76 CHI hospitals.
At the same time, CHI said it will boost its minority ownership in Conifer, the companies announced in a statement.
The deal dates back to May 2012, when Conifer and CHI struck a deal to have Conifer provide revenue cycle services for 56 CHI hospitals. Tuesday’s announcement extends the scope of the work to an additional 20 facilities.
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CHI President of Business Lines and CFO Dean Swindle said Catholic Health Initiatives entered into the partnership to tap into Conifer’s expertise in revenue cycle operations.
Under the new deal, CHI can expand its revenue cycle operations without the cost of building those capabilities internally, according to a statement from Conifer chief executive Stephen M. Mooney.
“Catholic Health Initiatives entered into the partnership with Conifer to tap into its expertise in revenue cycle operations as CHI takes innovative steps to meet the challenges of the changing healthcare landscape.”
Mooney said.
Frisco, Texas-based Conifer said it manages more than $26 billion in patient revenue and $17 billion in medically managed spending, according to the company.
Catholic Health Initiatives in Englewood, Colorado operates hospitals in 19 states.
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