Simplify ASC Acquires PhyBus Revenue Services
Published: Thursday, January 7, 2021 9:40 am
Ambulatory Surgery Center operators have a unique hybrid offering to leverage. Simplify ASC has announced it has completed its acquisition of PhyBus RCM, combining the latter's revenue cycle management (RCM) services with its proprietary EHR and Practice Management platform to create an operationally-focused solution for ASCs. Financial details of the transaction were not disclosed.
"We are incredibly excited about the wealth of ASC experience and RCM knowledge that the PhyBus RCM team adds to our Company," says David Howerton, Chief Executive Officer for Simplify ASC. "This acquisition immediately enhances our ability to work with customers on an array of problems that impact their bottom line every month - like cash flow, staffing, and process improvements. Unlike other offerings, we bundle together three decades of surgery center operational expertise, our proprietary ASC EHR and PM software, along with a seasoned RCM team certified on that same software. We have designed this new solution to generate predictable cash flow and give our customers valuable time back in their day."
In 2019 Simplify ASC made waves in the industry by launching a cloud-based practice management module to complement its digital patient chart, a mainstay EHR for surgery centers since 2003. PhyBus, LLC, has continued to expand its client base since its founding in 2009 and contributes an impressive legacy of developing and managing ASCs. As part of that offering, the PhyBus RCM team channeled its operational history to continually improve its customers' cash cycle, collections, and reimbursements.
According to Executive Chairman, PhyBus founder and former AMSURG co-founder, Rodney Lunn, the time is right for a service-led technology provider because ASCs continue to grow in both popularity and complexity as the site of choice for elective surgery. "It is getting harder to run surgery centers," says Lunn. Software alone won't cut it anymore. It takes expertise and systems working together to solve the deeper, more complicated problems facing the industry today. Surgery center teams don't always have the time or resources to take all the necessary actions to succeed. ASCs that need to improve their cash flow and are cost-conscious will be the customers we impact the most. Through our combined efforts, we will give back valuable time and provide maximum cash flow so administrators and their teams can focus on what they do best - providing exceptional patient care."
"For ASCs that want professional cash management while simultaneously upgrading their center software, we believe there is no better solution than Simplify," says Dave Vreeland, Managing Director of Jumpstart Capital and lead investor for the new company. "We are pleased with how well these two companies complement one another and expect the market response to be favorable."
For a limited time, ASCs looking to take advantage of Simplify's new bundled offering will receive up to 40% off their first year of service the company also announced.