Millennia, a leader in patient payment and patient financial engagement for hospitals, health systems and medical groups, has acquired innovative patient payment industry leader, CaptureNet, a software and services hybrid solution for comprehensive self-pay management. The official announcement was made on February 1st, 2021.
With the increasing burden of patient responsibility, and the continued complexity of the patient financial experience, the industry needs a comprehensive and unified solution that leverages technology and people in order to simplify the payment process. Millennia and CaptureNet share this One-Vendor mission and consistently deliver industry-leading patient payment recovery and satisfaction.
"This acquisition is a strategic continuation of Millennia's mission to lead the market in patient satisfaction and loyalty while producing the highest patient recovery rates in the industry. Like us, CaptureNet has this same ethos and we are truly excited to have their colleagues and technology part of the Millennia family and suite of solutions," stated Tom Ormondroyd, Millennia Chief Executive Officer.
With the purchase of CaptureNet, Millennia has further expanded its client base and now services over 1,000 facilities in 38 states. The Company will be also be expanding and adding CaptureNet capabilities to its portfolio. Examples of these new offerings include IntelNet, intelligent presumptive financial assistance analytics which automates the process to identify patients who qualify for financial assistance under a provider's Financial Assistance Policy and PayorNet, Robotic Process Automation (RPA) around the discovery and billing of found insurance, that works in tandem with a hospital's existing software applications to automate manual and repetitive tasks.
The acquisition will further Millennia's reach and standing as the leading patient payment and patient engagement company in the country and will allow it to bring its suite of solutions, capabilities and results to the CaptureNet client base.
Ormondroyd added, "We want to be the trusted advisors for patient payments. Millennia's purchase of CaptureNet is the latest example in our commitment to expand and improve upon our capabilities for our clients."
About Millennia: Millennia is a technology-enabled revenue cycle service company that partners with healthcare providers to manage their patient financial experience using a powerful patient engagement platform and a healthcare-focused patient concierge team. The Millennia team includes a talented mix of technology developers, client service leaders, and highly trained patient concierge specialists who deliver expert-level assistance to help patients understand their financial responsibility and find manageable ways to pay. This approach drives 98% patient satisfaction and recovery of patient self-pay at 2 to 4x the national average. To learn more, email rking@millenniapay.com or visit Millenniapay.com
