OVERLAND PARK, Kansas, Jan. 6, 2015 (GLOBE NEWSWIRE) -- The Corridor Group (TCG) announced today that it has acquired HMS Healthcare Management Solutions, Inc. (HMS), a leading provider of revenue cycle management (RCM) and consulting services. With HMS, TCG will deliver to post-acute providers a full range of RCM, consulting and education solutions, helping them optimize operations as the healthcare market evolves from fee-for-service to value-based reimbursement.
"HMS has an excellent reputation and a proven RCM services delivery model," said Des Varady, Chief Executive Officer of The Corridor Group. "Combining with HMS strengthens TCG's ability to provide a one-stop RCM solution--or a tailored set of discrete RCM services--for post-acute providers working to improve cash flow management and revenue realization. We are very excited to have the HMS team join TCG."
In connection with the transaction, President and CEO of HMS Donna Galluzzo, PhD, RD, was named President of the newly combined company. Ms. Galluzzo will report to TCG's CEO Des Varady. To help guide and support the growth of TCG, she will also join TCG's Board of Directors and work alongside current Directors Katheen "Kathy" Dodd and Jeannee Parker Martin, both nationally recognized leaders in post-acute healthcare.
Ms. Galluzzo is an accomplished executive with over 30 years of experience in the healthcare continuum. As a business leader, she has spent her career operating and growing healthcare provider entities, including:
- Connecticut VNA, Inc., which owned and operated the largest network of home health agencies in Connecticut,
- AccessOne Health Systems, LLC, a utilization and case management organization,
- Professional Home Care Services, Inc., a home infusion, DME and oxygen/respiratory provider, and
- OMNI Home Health Services, Inc., a Medicare certified, state licensed, accredited home healthcare company.
Ms. Galluzzo is a sought-after industry expert, has received numerous honors and awards, and was recently named Chairman of The Connecticut Business & Industry Association. Ms. Galluzzo received her bachelor's and master's degrees from Loma Linda University and earned a doctorate from the University of Connecticut.
"This is simply a great fit--philosophically and culturally," Ms. Galluzzo said of the transaction. "Both companies have considerable talent and experience in delivering services to post-acute providers and are dedicated to providing even stronger integrated clinical and financial solutions in the healthcare marketplace."
Building on its success with the acquisition of Daymarck late last year, TCG will now offer a full range of RCM services to help clients identify, document, code, quality review, bill for, collect and keep the most appropriate payment for the valuable healthcare services they deliver. HMS expands TCG's post-acute healthcare expertise to include facility-based long-term care providers and physician practice experience, and deepens existing TCG strengths in consulting, interim staffing and education for post-acute providers. TCG will now offer to the marketplace a unique combination of capabilities and expertise to help providers address cost pressures, reimbursement changes, increased compliance scrutiny, provider consolidation and the ICD-10 transition.
About HMS Healthcare Management Solutions,
Inc.
For more than 25 years, HMS Healthcare Management Solutions,
Inc. (HMS, www.hmsabc.com) has helped home
healthcare and hospice providers, long-term care facilities,
physician practices, acute care hospitals and residential care
homes optimize revenue by improving cash flow, increasing
operational efficiencies and identifying opportunities for
profitable lines of business. Moreover, HMS analyzes client
specific data and compares it to regional and national benchmarks
to provide a full picture of trends and opportunities in the
ever-changing healthcare marketplace.
About The Corridor Group
Founded in 1989, The Corridor Group (TCG) is a leading national provider of compliance, consulting, coding, revenue cycle management (RCM) and education solutions to the post-acute healthcare industry. Since inception, TCG has provided business advice and solutions to thousands of clients ranging from large health systems and national chains to smaller independently operated agencies. TCG is a portfolio company of HealthEdge Investment Partners. For more information visit www.corridorgroup.com.
About HealthEdge Investment Partners, LLC
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge's partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
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