Aspirion Health Resources Announces Combination with HRS ERASE to Form New Revenue Cycle Management Platform
Continues build out of complex claims platform strategy backed by Aquiline Capital Partners
Columbus, GA – (BUSINESS WIRE) – Aspirion Health Resources, a tech-enabled revenue cycle management company, announced today that it will combine with HRS ERASE, a revenue cycle management company focused on providing Medicaid eligibility, workers’ compensation (WC), and out-of-state Medicaid (OSM) services to healthcare providers. This transaction will provide complementary solutions to each companies’ client base and advance the combined company’s goal of becoming the national leader in complex claims revenue cycle management (RCM) through continued growth and acquisitions.
Founded in 1998, HRS ERASE has continuously employed a “Patient First” approach while working with healthcare providers to address patient payment challenges. Its dedicated advocates and cash recovery specialists help providers and patients successfully navigate the difficult paperwork of government agencies and insurance providers. HRS ERASE solutions are designed to achieve improved financial outcomes while simultaneously enhancing the patient experience. The company is headquartered in Kansas City, MO.
As a result of the combination, Aspirion and HRS ERASE will serve more than 100 facilities in 28 states. The combined company’s solution suite now includes motor vehicle accident (MVA) claims, WC claims, Veterans Affairs claim management, Medicaid eligibility verification, and OSM collections.
Aspirion’s CEO, Lori Lipocky, commented, “The addition of HRS ERASE will enhance the combined company’s ability to serve our customers and offer healthcare organizations a powerful partner for managing the most difficult-to-collect claims dollars. We value the expertise HRS ERASE brings to the table, as their team of dedicated employees has a proven track record of success.”
The HRS ERASE management team is led by Founder and CEO Kevin Murphy, who stated, “I’m excited about the value proposition that this combination creates for the customers and employees of HRS ERASE. We look forward to working with Aspirion to continue to provide excellent service to our clients.”
Aquiline Capital Partners, a private equity firm based in New York and London, invested in Aspirion Health Resources in May 2018 with the vision of building a national platform to help healthcare providers with more challenging claim types. Aspirion’s combination with HRS ERASE continues this platform strategy and reflects Aquiline’s commitment to invest in other expansion opportunities going forward.
About HRS ERASE
HRS ERASE provides eligibility, workers’ compensation, and out-of-state Medicaid solutions to a variety of healthcare providers. Its experienced specialists possess a deep understanding of the complexities of the hospital revenue cycle and work to maximize client revenue and enhance revenue reimbursement. In addition to improved financial performance, HRS ERASE’s solution set focuses on patient satisfaction and consumer loyalty for its clients.
About Aspirion Health Resources
Aspirion helps hospitals and physicians recover otherwise lost claims revenue from motor vehicle accidents, workers’ compensation, the Veterans Administration, and Tricare as well as underpayments and denials. Aspirion’s experienced team of legal professionals and claims analysts helps ensure that providers receive the revenue rightly due to them on complex claims so that hospitals and their staff can focus on patient care.
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York and London investing in businesses globally across the financial services sector in insurance, financial technology and services, investment management and banking and credit. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit: www.aquiline.com.
Alex Yankus / Harry Mayfield