A name change and a new outlook has apparently worked wonders for Capario, as the once-struggling provider of revenue cycle management solutions recently announced three new contracts with provider groups.
Capario, formerly known as MedAvant Healthcare Solutions, announced on March 25 that it had signed contracts for RCM services with Pathology Associates Medical Labs of Spokane, Wash., BRG Specialty Billing of Birmingham, Ala. and San Diego Imaging Management, Inc.
“Capario is an ideal partner for Pathology Associates and we look forward to utilizing their Web-based technology to shorten our revenue cycle processes, helping to improve our productivity,” said Mark LaVoie, director of billing at Pathology Associates Medical Labs, in a press release supplied by Capario. “We have been very impressed with the top-notch, personalized customer support and high-level expertise we have received from Capario that caters to both our regional and national payer-related needs.”
Less than a year ago, Capario was in dire straits. Then known as MedAvant, the company filed for Chapter 11 bankruptcy protection on July 23, 2008, with plans for a sale and restructuring process. That September, the company was bought for roughly $24 million by Marlin Equity Partners, a Los Angeles-based institutional private investment firm. The company changed its name in mid-March.
“Our motivation behind the re-branding is to better show who we are today — a company with a national scope that provides innovative revenue cycle management solutions enabling healthcare organizations to optimize business performance in today’s challenging healthcare environment,” said Andrew Lawson, the company’s president, who came on board following Marlin Equity’s acquisition. “With a strong financial foundation, Capario will strive to identify new and creative ways to serve the needs of the market while positioning the company for future expansion and optimizing customer loyalty through top-notch customer service. Our new company name and position embody our ability to evolve with the healthcare industry and address its most urgent and ever-changing needs.”
Capario helps providers reduce claims processing costs and improve RCM by enabling communications with payers.