Aspirion Health Resources, a revenue cycle management healthcare company, has merged with Specialized Healthcare Partners LLC, a healthcare company focused on resolving denied and complex claims for healthcare providers. No financial terms were disclosed. Aspirion is backed by Aquiline Capital Partners.
COLUMBUS, Ga.–(BUSINESS WIRE)–Aspirion Health Resources (“Aspirion” or “the Company”), a technology-enabled revenue cycle management healthcare company, announced today that it has combined with Specialized Healthcare Partners L.L.C. (“SHP”), a healthcare company focused on resolving denied and complex claims for healthcare providers. SHP provides a highly complementary service line extension with the addition of denials to the Aspirion platform, supplements its leadership position in complex claims, and adds over 200 hospital clients nationwide.
Founded in 2012, SHP has continuously employed a “client first” approach while partnering with healthcare providers to collect denied and complex claims. SHP’s highly credentialed healthcare professionals utilize technology, workflow tools, internally developed claim resolution pathways and an extensive knowledge library as well as tailored appeal procedures to recover reimbursement on numerous technical and clinical claim denials, including but not limited to authorization, medical necessity, and coding. SHP’s solutions are designed specifically for the purpose improving cash flow while reducing aging accounts receivables and administrative write-offs for healthcare providers.
Upon completion of the transaction, Aspirion and SHP will serve 369 clients in 31 states. With SHP, Aspirion’s solution suite will include complex denial, motor vehicle accident (MVA), worker’s compensation (WC), Veteran’s Affairs (VA), and Tricare claim support, as well as Medicaid Eligibility & Enrollment (E&E) and out-of-state Medicaid collections.
Jason Erdell, Chief Executive Officer of Aspirion, commented, “The addition of SHP will reinforce and enhance our ability to serve our clients and be a powerful partner to the healthcare organizations we work with by managing their most difficult-to-collect claims. These complex claims are our specialty, and this combination will help us continue to provide quality service to all of our stakeholders.”
Kevin Barrett, Chairman of the Board of Aspirion, added, “We are focused on building the Aspirion brand and strengthening our existing capabilities by adding logical, adjacent products and services. We carefully select new partners based on their performance, culture, and dedication to client service. Our combination with SHP combines two best-in-class companies and allows us to more effectively address underserviced areas of healthcare revenue cycle management.”
The SHP management team is led by Tracy and Patrick Lutz, co-founders of the company; both will join Aspirion’s leadership team. “For SHP, it will always be about our clients,” says Tracy Lutz. “We believe Aspirion will help us to more quickly deliver critical, technology-enabled complex claim resolution services for our clients.”
Aquiline Capital Partners invested in Aspirion Health Resources in May 2018 with a plan to optimize the company’s existing operations, fuel growth and create a national leader in complex claims revenue cycle management. Aspirion has added exceptional leaders to the team, including CEO Jason Erdell and Chairman Kevin Barrett, invested in scalable operations process and technology programs, and achieved growth through acquisitions, strategic partnerships, and increased sales.
About Aspirion Health Resources
Aspirion helps hospitals and physicians recover otherwise lost claims revenue from motor vehicle accidents, workers compensation, the Veteran’s Administration, and Tricare as well as out-of-state Medicaid, Medicaid eligibility, underpayments and denials. Aspirion’s experienced team of healthcare professionals and claims analysts helps ensure that providers receive the revenue rightly due to them on complex claims so that hospitals and their staff can focus on patient care.
About Specialized Healthcare Partners
Specialized Healthcare Partners provides resolution services on denied, complex, and problematic hospital receivables. The company was founded in 2012 and has over 130 healthcare professionals on staff helping to resolve claims. The company is headquartered in Delray Beach, FL, and counts more than 200 hospitals as clients.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York and London investing in businesses globally across financial services and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.