Firstsource Solutions gains 5% on acquisition of PatientMatters

Shares of Firstsource Solutions traded 5 per cent increased at Rs 79 on the BSE on Wednesday after the company introduced that the agency has acquired PatientMatters, a healthcare Revenue Cycle Management (RCM) options supplier. On Tuesday, Firstsource’s stock had recovered 19 per cent from its intra-day low of Rs 66.50 on the BSE. It hit a 52-week excessive of Rs 81.75, on December 17, 2020.

Firstsource Solutions, a RP-Sanjiv Goenka Group company, is a world supplier of Business Process Management (BPM) providers.

PatientMatters unifies disparate registration, invoice estimation, and monetary providers with clever workflows and eligibility providers, enhancing income realization for Hospitals. The acquisition enhances Firstsource’s Provider Business on two dimensions: strengthening presence in giant markets like Texas and New York and including new capabilities of pre-authorization and affected person invoice estimation on the front-end of the RCM cycle, the company stated in a press launch.

This strategic acquisition magnifies our robust patient-centric income administration capabilities and creates adjoining areas for development for us, stated Dr. Sanjiv Goenka, Chairman, Firstsource Solutions and RP-Sanjiv Goenka Group.

In tandem with the acquisition, Firstsource plans to consolidate its Healthcare Provider manufacturers MedAssist and PatientMatters, below its enterprise umbrella. The transfer displays the unified worth proposition provided throughout all Firstsource options and providers and reinforces the company’s model as a world BPM chief, it stated.

At 09:32 am, the stock was buying and selling 4 per cent increased at Rs 78.60 on the BSE, as in comparison with 0.06 per cent rise within the S&P BSE Sensex. A mixed round 880,000 fairness shares had modified arms on the counter on the NSE and BSE, to date.


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