|Debt, 7/11 |
Square 1 Bank
Founded in 2001, it provides these services through a proprietary Internet-based solution that is built around its revenue cycle management product. The healthcare technology company assists clients to collect more, spend less and live better through its physician management information system, state-of-the-art rules based claims processing, efficient back office service operations, stable and secure IT infrastructure and a commitment to world class customer service.
Avisena enables health care providers to focus on the practice of medicine while also addressing the increasingly complex reimbursement environment. This complexity is due to government regulation and the ever changing payment rules mandated by health insurance companies. Its technology-based solution is steadily replacing the in-house billing done by physician staff (80% of market) and traditional medical billing companies (20% of market). Avisena’s solution typically effects a 10-20% improvement in collections compared with these traditional methods. Its customer retention rate is now approximately 90%.
The revenue cycle management company employs 220 staff and is headquartered at a 26,000 square foot facility in Miami, Florida. Its technology infrastructure is located at the Terremark/NAP of the Americas in Miami, a secure co-location facility that houses most of the Internet and telecommunications infrastructure that links North and South America.