Halyard Capital, a New York-based private equity firm, has made a growth investment in Practice Insight, a leading provider of software-as-a-service (SaaS) based revenue cycle management solutions to healthcare providers.
The company’s solutions automate every stage of a physician practice’s reimbursement workflow, providing a high ROI by helping practices reduce bad debt, shorten the collection cycle and reduce the administrative staff needed to manage the reimbursement process. Practice Insight’s solutions are sold to physician practices nationwide through a network of reseller relationships.
Practice Insight was founded in 2003 and is led by Michael Reeves, Houston Johnson, David Reeves, Denise Perry and Jim Goerlich.
"We have developed a strong relationship with the Practice Insight team over the last two years," says Michael Furey, Principal at Halyard Capital. "We have been impressed by their ability to continuously develop proprietary solutions that address the evolving needs of physician practices. Physicians, hospitals and health plans are facing ever-increasing economic and regulatory challenges driving the need for technology solutions that improve their workflows."
"We are thrilled to be partnering with Halyard Capital and look forward to leveraging their network and knowledge of the industry to support the Company’s next stage of growth," says Houston Johnson, President of Practice Insight.
"Halyard’s investment in Practice Insight is part of its continued focus on investment opportunities in middle market companies providing technology-enabled outsourced services to the healthcare market," says Robert B Nolan, Senior Managing Partner at Halyard Capital.
