What You Should Know:
– Arsenal Capital Partners, a prominent private equity firm specializing in healthcare and industrial growth companies announced the acquisition of Knowtion Health. Financial details of the acquisition were not disclosed.
– Knowtion is a provider of AI-powered revenue cycle insurance claim resolution services that help hospitals and health systems optimize their operations and increase revenue.
A Strategic Investment
Arsenal’s investment in Knowtion reflects the firm’s commitment to supporting innovative companies that address critical inefficiencies in the healthcare industry. By combining Knowtion’s expertise in revenue cycle management with Arsenal’s resources and industry knowledge, the partnership aims to drive significant growth and enhance Knowtion’s ability to serve its clients.
Knowtion’s Expertise in Revenue Cycle Management
Knowtion offers a comprehensive suite of services to help healthcare organizations optimize their insurance claim resolution processes. These services include:
- Coordination of benefits: Ensuring that claims are processed correctly and that patients receive the appropriate benefits.
- Patient-involvement denials: Resolving denials related to patient involvement or eligibility.
- Low-balance recovery: Recovering outstanding balances from patients and payers.
- Complex claims: Handling complex claims, such as those related to motor vehicle accidents, Veterans Administration, third-party liability, and workers compensation.
- Payer defense audits: Defending against payer audits and ensuring that hospitals and health systems receive appropriate reimbursement.
Leveraging AI for Improved Efficiency
Knowtion’s innovative ClaimBRAIN platform utilizes AI-enabled technology to streamline the insurance claim resolution process. By combining human expertise with machine learning, natural language processing, and generative AI, ClaimBRAIN can identify and address denials at scale, improving efficiency and accuracy.
“We are thrilled to partner with Arsenal, whose resources and healthcare and operational expertise will significantly enhance our ability to best serve our clients,” said Jayson Yardley, CEO of Knowtion. “This partnership aligns with our shared vision and commitment to expanding our offerings through both organic growth and strategic acquisitions, further cementing our leadership in denials management.”