Health tech platform Experity announced Wednesday the acquisition of artificial intelligence-driven SaaS software and services company Exdion Healthcare.
The acquisition aims to accelerate revenue cycle management (RCM) automation for on-demand care. It advances Experity’s strategy to unify AI workflows, including aiding operators in accelerated reimbursement, reducing manual work and improving financial outcomes at scale.
Experity is a large provider of electronic health records (EHRs), patient engagement and revenue cycle management software for urgent care clinics. Exdion Healthcare’s platform autonomously processes most patient visits, combining proprietary machine learning with domain-trained data workflows, the companies say.
The insurance-focused affiliate of Exdion Healthcare is not included in the transaction and will continue to operate independently, according to a July 1 press release. Terms of the transaction were not disclosed.
Experity Executive Vice President of RCM Jason McNeil told Fierce Healthcare it’s the company’s “responsibility to continue to drive innovation, simplification and efficiency” for patient clinic experiences and financial performances.
“Our acquisition of Exdion Healthcare does just that,” McNeil said. “It will help urgent care operators run more connected, efficient organizations. This acquisition will allow our clients to do more with less while maintaining a focus on delivering great patient care.”
McNeil added the integration of Experity’s native products with Exdion’s tools ensures complete documentation and subsequent inclusion on claims—leading to full due reimbursement.
“This has a major impact on the healthcare organization’s financial operations," McNeil said. “Exdion Healthcare’s customers can see as much as an 8% increase in their overall revenue.”
Exidon President Lohith Reddy said the combined capabilities of the two companies “deliver measurable, transformative results.”
“Together, we already support enterprise-level urgent care organizations,” Reddy said. “Through this partnership, customers achieve an 86% reduction in denials, along with improvements in coding quality, charge capture, and revenue cycle velocity.”