Health tech platform Experity on Wednesday announced the acquisition of Exdion Healthcare, a SaaS software and services company powered by artificial intelligence.
The acquisition is aimed at accelerating revenue cycle management (RCM) automation for on-demand care. This furthers Experity’s strategy to integrate AI workflows, including helping operators accelerate reimbursement, reduce manual labor, and improve financial outcomes at scale.
Experity is a leading provider of electronic health records (EHR), patient engagement, and revenue cycle management software for urgent care clinics. Exdion Healthcare’s platform combines proprietary machine learning and domain-trained data workflows to autonomously process most patient visits, the companies said.
Expedion Healthcare’s insurance-focused affiliates are not part of the transaction and will continue to be independently operated, according to a July 1 press release. Terms of the transaction were not disclosed.
Jason McNeil, RCM’s executive vice president of Experity, told Fierce Healthcare that the company has a “responsibility to continue to drive innovation, simplicity and efficiency” when it comes to patient clinic experience and financial performance.
“Our acquisition of Exdion Healthcare does just that,” McNeil said. “We help emergency medical professionals run more connected and efficient organizations. This acquisition will enable our clients to do more with less while focusing on providing excellent patient care.”
McNeil added that the integration of Experity’s native product with Exdion’s tools ensures complete documentation and subsequent claim representation, leading to full reimbursement.
“This has a huge impact on the financial operations of healthcare organizations,” McNeil said. “Exdion Healthcare customers could see up to an 8% increase in overall revenue.”
Exidon President Rohith Reddy said the combined capabilities of both companies will “deliver measurable and innovative results.”
“We are already working together to support urgent care organizations at the corporate level,” Reddy said. “Through this partnership, our customers achieved an 86% reduction in rejections while improving coding quality, bill collection, and revenue cycle speed.”
