Kaufman Hall headquarters in Skokie, IL (Google Earth)
Management consulting firm Kaufman Hall has acquired KREG Information Systems, which provides contract management, budgeting and decision support for healthcare providers. Financial terms of the deal were not disclosed.
Kaufman Hall said the additional services will enable help clients in the transition from traditional fee-for-service to value-based payment models. The expectation is that insurance negotiations will be improved by increasing the company's ability to predict and manage reimbursement.
With KREG software, organizations can estimate net revenue by patient and manage contracts, claims and payments across the organization.
Kaufman Hall Software CEO Tom Walsh said in a statement that the acquisition will be integral to both long- and short-term financial planning. The reason: a newfound ability to simulate managed care contracts, estimate third-party contractual allowances, analyze denials, and provide dashboard reporting, all of which is anticipated to improve decision-making.
With the addition of KREG, Kaufman Hall expands its enterprise performance management and integrated decision support system, which now includes advanced cost accounting, clinical benchmarking and revenue cycle management capabilities, thereby improving its profitability and the outcomes of its patients.
The addition of KREG is Kaufman Hall's second strategic software acquisition of 2016. The company acquired Total Benchmark Solution in February, adding data and analytics capabilities that enable hospitals and health systems to reduce clinical variation.