The transaction is expected to close in the second quarter of 2018.
Louisville, Kentucky-based Bolder Healthcare Solutions provides RCM software and processes. Its RCM offerings will further expand Cognizant’s health care consulting, information technology and business process services.
“As the health care industry continues to undergo significant transformation to a value-based care model, digital RCM services and solutions remove complexity and allow providers to streamline their operations,” said Kaushik Bhaumik, executive vice president and global head of health care at Cognizant.
“High-quality RCM solutions help providers achieve efficient management of their business, while placing more of their focus on the quality of patient care. When combined with Cognizant’s broad set of offerings for payers and providers, Bolder Healthcare Solutions’ capabilities and experts will open new market opportunities as we enable more payers and providers to embrace outcome-based models and innovate with data analytics, cognitive computing and robotic process automation for more efficient management of their businesses and ultimately better patient outcomes.”
Financial terms of the deal were not disclosed.
“Hospital and physician providers require a specialized RCM approach to maximize cash flow, lower costs, enhance financial performance and ensure new regulatory compliance demands are met. By joining forces with Cognizant, we will have many new tools that will be a catalyst for future growth. The increased capabilities will allow Bolder to continue to be on the cutting edge of provider RCM and this forward-looking combination will create new opportunities for Cognizant in the hospital provider, specialty physician and other professional markets. We are bringing together an impressive level of expertise, best-in-class processes and technologies to help providers meet the many challenges they face,” said Michael Shea, CEO of Bolder Healthcare Solutions.