Billing management software provider StrataPT has secured $25 million in funding in its next round. Council Capital.
The company said in a statement that the funding comes amid growing demand for a SaaS-based platform that integrates electronic medical records (EMR), revenue cycle management (RCM), billing and collections into one solution.
Council Capital partner Kevin Fahey and healthcare IT industry veteran Gregory Anderson have been appointed to the StrataPT Board of Directors.
function
The StrataPT billable practice management platform for outpatient treatment clinics serves as a billing partner for physical, occupational, and speech therapy practices by consolidating treatment documentation and billing into a single, full-service platform.
The funds will be used to expand EMR and RCM operations for outpatient clinics.
“We are on the brink of real change when it comes to accountability and awareness in medical billing,” StrataPT CEO Paul Singh said in a statement.
“Our goal is to unravel the complexities of reimbursement and streamline the clinical process with a platform that provides true transparency for the first time ever. We value our partnership with therapists and speech therapists, and their trust. We are experts in medical innovation and support them, enabling immediate benefits and long-term impact. This will expand our reach and capabilities and enable us to support even more clinics.”
market snapshot
Other companies offering RCM and EMR services include: NextGen Healthcare announced on October 1 that NextGen Ambient, its AI-powered ambient listening solution, is now available to ophthalmologists and optometrists.
NextGen Ambient Assist transcribes patient-provider conversations in real-time and leverages AI to summarize patient interactions within 60 seconds of a patient visit.
July, multispecialty medical group PrimeHealthcare selected Athenahealth’s EHR, RCM, and patient engagement solutions, switching from their previous vendor for the next generation of their organization’s evolution.
