Prosperity Behavioral Health in Cherry Hill acquires Utah-based company

Prosperity Behavioral Health, a leading national provider of financial solutions for behavioral health facilities based in Cherry Hill, announced Tuesday that it has acquired Elevated Billing, a Utah-based revenue-cycle management company that serves behavioral health facilities.

Prosperity Behavioral Health recently entered a new phase of growth.

In 2022, NewSpring Capital invested in Prosperity to help the company expand services and achieve sustainable, long-term growth. In 2019, Prosperity acquired California-based Vertex Healthcare Services, doubling the company’s size and increasing Prosperity’s service offerings for clients.

The acquisition will create new market opportunities and expand Prosperity’s service offerings, Prosperity CEO Michelle Mullany said.

“From Day One, we were impressed with Elevated Billing’s commitment to providing excellent services to clients,” she said. “Their commitment to quality, along with a talented team, are why most of their clients have worked with them for an average of 10 years.

“We’re excited to welcome the Elevated Billing team and combine their strengths with ours.”

Prosperity’s comprehensive suite of financial services includes revenue cycle management, financial analysis and reporting, corporate strategy, and back-office operations. Prosperity enables clients to do what they do best: provide excellent care for those in need of behavioral health services.

Elevated Billing Solutions is an outsourced revenue cycle management solution specializing in behavioral health, with ethics, performance and technology as the pillars of Elevated Billing’s mission to relentlessly advocate for individuals in need of treatment.

Elevated Billing CEO Jessica Anderson said her group is ready to go.

“This is a very exciting time for the Elevated team,” she said. “We built our foundation on trust, teamwork and always offering a positive customer experience.

“We met Prosperity’s leadership and knew right away that, together, we could offer clients something special. We are looking forward to the future and are grateful for Prosperity’s support.”