Clinicient Inc., a Portland, Ore.-based provider of revenue cycle management software for outpatient rehabilitation clinics, has raised $5 million in VC funding from Village Ventures and Highway 12 Ventures.
PRESS RELEASE
Clinicient, Inc., a leader in software-enabled revenue cycle management solutions for outpatient rehabilitation clinics, announced today that it has closed $5 million in funding from Village Ventures and Highway 12 Ventures.
Clinicient partners with outpatient rehabilitation clinics to provide a unique and comprehensive service that takes a new approach to helping clinics grow revenue by combining software, services, and industry-specific knowledge to reduce errors and improve efficiency. The investment will be used to build the next generation of software-enabled revenue cycle management, specific to the outpatient rehabilitation market, which includes extending a proprietary knowledge base and rules engine, expanding an expert-level billing service and growing the company to meet the increasing demand for their solution.
“Traditionally, outpatient rehabilitation clinics have had the option of purchasing software and managing a billing staff or outsourcing billing. These methods have failed to produce results, causing the business model to change in the market”, states Jim Plymale, CEO of Clinicient, Inc. “We've taken a unique approach to solving this problem, and are positioned to provide our customers with a level of service not previously possible, so they can focus on patient care.”
Clinicient's product, Insight, is the only solution for outpatient rehabilitation clinics that combines intuitive web-based software, a payer knowledge base and rules engine, and expert billing and collections services. “Our business is providing great care
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