Revenue cycle management vendor The SSI Group Inc. has acquired veteran claim clearinghouse Claimsnet.com for an undisclosed sum.
Dallas-based Claimsnet is a small but pioneering company, one of the first clearinghouses to operate on the Internet and with real-time transactions processing capability. It will operate as subsidiary with the name SSI Claimsnet LLC. Claimsnet in 2012 had revenue of a little more than $2.5 million with a net loss of $199,000.
SSI sells a range of revenue cycle tools for hospitals including front-end eligibility verification, patient payment estimation, contract management, release of information, and analytics products. The SSI clearinghouse, which processes more than 600 million transactions annually and has more than 1,000 direct payer connections, will pick up additional technology capabilities and payer links via Claimsnet.
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