SourceMedical, a Birmingham, Alabama-based revenue cycle provider, on Friday said it acquired LaClaro, a competing revenue cycle software company.
Monetary terms of the deal were not announced.
According to SourceMedical, the technology acquired from Colorado-based LaClaro will enhance the analytics and workflow management tools offered in its service for ambulatory surgery centers.
[Also: What CFOs think about revenue cycle]
Ambulatory surgery has seen significant growth in the past few years as new quality measures push more people into outpatient care. However, SourceMedical claims the sector has faced challenges due to that growth, including more complex reimbursements tied to value and competition among surgeons.
"LaClaro has been working hard over the last several years to bridge a gap in the business operations of ambulatory surgery centers,” LaClaro CEO Terry Rajendran said in a statement. “It is our belief that increasing the efficiency of outpatient centers will lower the cost of healthcare and it is our goal to work toward that result.”
The deal is expected to close in June.
Twitter: @HenryPowderly