July 21, 2020 BURLINGTON, Mass. & ALEXANDRIA, Va.--(BUSINESS WIRE)--HealthEdge Software, Inc.® (“HealthEdge”), a provider of the industry’s leading integrated financial, administrative and clinical platform for health insurers, HealthRules® Payor, today announced the acquisition of The Burgess Group, LLC (“Burgess”), an innovative payment integrity software company focused on improving healthcare payment operations through technology.
Complementary Products Result in a Leading Solutions Combination
Steve Krupa, HealthEdge Chief Executive Officer, and Greg Burgess, Founder and President of The Burgess Group, built a strong relationship around their mutual passion to automate the transactional systems for health plan claims processing and payments through a cloud-computing infrastructure.
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“Greg and I realized our like-minded mission to enhance operational efficiency for health plans through our next-generation platforms would create momentum in the healthcare payor marketplace,” said Steve Krupa. “We both spearhead entrepreneurial and innovation-driven organizations, and our shared desire to impact healthcare by overcoming the limitations of current solutions, have resulted in our coming together to create a robust, thriving, growth-oriented company built on disruptive healthcare payor technology.”
“After 23 years, I’ve discovered a partner in Steve and the HealthEdge team, who understand our passion in designing and delivering the industry’s first cloud-native payment integrity ecosystem,” said Greg Burgess. “Working together we will accelerate our shared vision to challenge the inefficient status quo in claims administration. As one combined company, we can offer our existing complementary solutions while we collaborate to introduce another industry first: an end-to-end unified claims processing, payment integrity, and adjudication platform capable of delivering first pass payment accuracy to providers. By harnessing cloud technologies, we will bring data integration, reimbursement accuracy and accountability, to an elevated level of precision, empowering the industry to realize point of service payments.”
Future Benefits for the Health Insurance Industry
“The acquisition of Burgess is a great strategic fit for HealthEdge to enter the large, high-growth market of payment integrity, helping address the estimated $1 trillion in wasteful spending in the U.S. healthcare system. This partnership will extend HealthEdge’s best-in-class claims processing to include software-driven payment integrity, actioned before a claim is paid, delivering significant value to health plans beyond what is available in the market today,” said Ram Jagannath, Global Head of Healthcare for Blackstone Growth and Chairman of HealthEdge. “We are excited to invest further in HealthEdge to continue building a market-leading software platform for health insurers.”