Kemberton Announces Strategic Combination with New Jersey’s Professional Receivables Network
FOR IMMEDIATE RELEASE
Combination with PRN solidifies Kemberton’s strategy to become the go-to leader in specialized revenue cycle management.
Franklin, TN - October 16, 2018—Specialized revenue cycle management (SRCM) provider Kemberton announces today that the company has combined with Professional Receivables Network (PRN), a Cherry Hill, New Jersey-based SRCM provider for hospitals and health systems throughout Pennsylvania and New Jersey. The executive teams at both companies pursued the combination to further their joint goal of becoming the national leader in the SRCM space
As a result of the combination, Kemberton offers the most thorough go-to-market approach for SRCM. The combined company’s solution suite includes motor vehicle accident (MVA) claims, worker’s compensation (WC) claims, complex claim denials, ambulatory surgery billing, and early-out patient payment services. Healthcare providers can choose either the non-health portion of care payment from the company’s MVA and WC offerings or a comprehensive coordination-of-benefits (COB) approach that ensures the efficient receipt of maximum payment from all payer sources.
“SRCM, which represents close to 5% of healthcare providers’ total claim volume, is associated with dollars that are too costly, time-consuming, and resource-intensive for hospitals to efficiently pursue on their own,” says George Abatjoglou, CEO of Kemberton.
He adds, “Most healthcare organizations commit too few resources and insufficient effort to maximize this revenue. It simply doesn’t make business sense to shift focus from the higher volume and dollars associated with traditional revenue cycle activity, which is the ‘bread and butter’ of healthcare reimbursement.
The result is SRCM dollars are typically not optimized and money is being left in payers’ pockets. In a time of contracting reimbursements and tightening margins, Kemberton ensures our customers realize every dollar from every source for the care they deliver,” says Abatjoglou.
Following the combination, Kemberton has more than 200 clients across 30 states; these clients represent a diverse group of for-profit, not-for-profit, academic medical institutions, and children’s hospitals of varying bed sizes.
PRN’s valued customers are the foundation of our success. We’re grateful for the opportunity to serve them,” says former PRN CEO Randy Cook, who joins Kemberton’s leadership team as executive vice president. “Combining with Kemberton provides a powerful opportunity to offer our industry-leading full coordination-of-benefits processing model nationally, while expanding our offering to include legal/lien services and complex healthcare claim denials processing to our customers.”
Kemberton is a proven leader in tackling motor vehicle accident (MVA), worker’s compensation (WC), and other complex claims challenges. As a byproduct of the company’s specialized revenue cycle management (SRCM) services, Kemberton has been advocating for hospitals and patients for almost a decade to improve claims reimbursement. The company applies the latest in claims workflow automation, process optimization, rules-engine technology, and team training to the challenge of resolving complex claims. To learn more, visit www.kemberton.net.
About Specialized Revenue Cycle Management
Specialized revenue cycle management (SRCM), which represents close to 5% of healthcare organizations’ total volume, includes MVA, WC, and other complex claims—but that’s just part of a broad set of third-party liability, complicated denials, and other challenging payment situations that have traditionally been deemed uncollectible.