Conifer Health Solutions, a subsidiary of Tenet Healthcare Corporation (NYSE:THC) and a leader in business process management solutions for healthcare providers, has acquired Dell’s Revenue Cycle Solutions line of business for hospitals and healthcare systems. The acquisition will increase the annual patient revenue Conifer manages for its client hospitals to $21 billion. Conifer and Dell anticipate a smooth transition of Dell’s 34 revenue cycle management clients and 800 revenue cycle management employees to Conifer over a period of 12 months. Once fully integrated, Conifer expects the business from this acquisition to contribute $85 million in incremental annual revenues to Conifer.
Conifer will leverage Dell’s additional technology and processing capabilities to create new cost efficiencies, contribute to the continued development of industry best practices, and drive improved financial performance for client hospitals. Subsequent to this acquisition, Conifer will now process 10 million patient accounts annually, manage $21 billion in annual patient revenue, and through its capitation management business provide technology and health management services to support care management for over three million lives.
“Conifer continues to expand our leadership position in providing business process management solutions for healthcare,” said Stephen Mooney, president and chief executive officer of Conifer Health Solutions. “Over our 34-year history as part of a major healthcare system, and with our Catholic Health Initiatives partnership and now the InforMed and Dell Revenue Cycle acquisitions, we have built an industry leading revenue cycle infrastructure powered by 9,000 employees and significant process and technology innovations that differentiate us from others in the market.”
“Having worked with Conifer and Tenet for many years, we view our combined capabilities as great for the industry and for our shared customers,” said Steve Schuckenbrock, president of Dell Services. “Dell is ranked No. 1 by Gartner in IT Services within the worldwide healthcare sector. While Conifer is acquiring our hospital revenue cycle management business, we plan to leverage our healthcare expertise, proven methodologies and robust delivery model to continue providing IT solutions to Conifer as it grows its client base.”