Kodiak Solutions has finalized its acquisition of BESLER & Company, a leader in hospital reimbursement, marking a significant step in the integration of revenue recovery technologies. This move aims to enhance Kodiak’s analytics platform by incorporating over 40 years of expertise from BESLER, particularly its specialized Transfer Diagnosis Related Group (DRG) software.
The Strategic Acquisition
The acquisition of BESLER enables Kodiak Solutions to consolidate various niche revenue cycle tools into a single, comprehensive platform. This strategic decision addresses the growing need among hospital Chief Financial Officers (CFOs) to replace fragmented point solutions with a unified, data-driven ecosystem. According to the company’s CEO, Derek Bang, “Adding BESLER’s people to our teams and its products to the Kodiak platform serve our mission of simplifying complex business problems.”
BESLER’s Transfer DRG software is particularly notable for its ability to detect Medicare underpayments related to patient transfers. Hospitals often face financial losses due to miscoding when discharging patients, such as sending them home versus to a skilled nursing facility. The integration of this automated validation into Kodiak’s platform will help hospitals recover potentially significant amounts of lost revenue.
Enhancing Efficiency in Revenue Cycle Management
The acquisition reflects a broader trend in the healthcare technology sector, signifying a move away from isolated point solutions towards integrated platforms. Currently, Kodiak serves approximately 2,300 facilities, and this consolidation will provide hospital CFOs with enhanced capabilities to utilize their data effectively. Bang emphasized that the merger allows health systems to gain actionable insights and accomplish more with their existing data.
The integration of BESLER’s tools into the Kodiak platform promises to streamline workflows by eliminating the need for hospitals to export data to external auditors for underpayment checks. This functionality will soon be a native aspect of the daily operations for CFOs, enhancing efficiency and accuracy in revenue recovery processes.
Jonathan Besler, the former CEO of BESLER, will transition to Kodiak as a Vice President. His presence is expected to ensure that the recovery algorithms are complemented by human expertise. Meanwhile, the founder of BESLER, Philip Besler, will retire, concluding a significant chapter for the family-founded firm as it evolves into a modern Software as a Service (SaaS) powerhouse. Financial details surrounding the acquisition remain undisclosed.
With this acquisition, Kodiak Solutions is positioning itself as a leader in the hospital revenue cycle management landscape, focusing on holistic solutions rather than multiple disconnected tools. This strategic move not only enhances their service offerings but also reinforces their commitment to simplifying complex financial processes for healthcare providers.
