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Provident Healthcare Partners Provident Healthcare Partners

Q2 2024 Revenue Cycle Management Update

Provident Healthcare Partners
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Q2 2024 Revenue Cycle Management Update

Though RCM transaction volume slowed in Q2, there is a strong possibility the market rebounds in the second half of the year given ongoing processes. Notably, Waystar went through an IPO in early June, and Provident expects Waystar to continue being acquisitive.

Last quarter, New Mountain Capital was leading a joint deal with TCP-ASC to take R1 RCM private at a $5.8B valuation. In early July, New Mountain Capital and TCP-ASC announced they are no longer working to a joint buyout. Instead, TCP-ASC intends to offer a higher price than New Mountain Capital’s $13.25 per share. Provident will continue to monitor this situation.

Strategic rational for RCM transactions remains consistent as consolidators look for differentiated solutions or new modules to complement existing technology to bolster cash collection cycles.

To print and download the full Revenue Cycle Management Update report, please click below…

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