8 December 2020 3 Min Read
Press Release: New Capital Partners Announces Partnership with Healthfuse
BIRMINGHAM, Ala., December 8, 2020 – New Capital Partners (NCP) announces today that it has invested in Healthfuse, the healthcare industry’s premier vendor performance company. Healthfuse utilizes a proprietary dataset to provide vendor sourcing and advisory services to health systems.
Founded in 2011 by Nick Fricano, Mike Zimmerman, and Jon Myhre, Healthfuse helps hospitals strengthen and manage their vendor relationships. Over the past five years, Healthfuse has delivered more than $600 million in bottom-line improvements for its clients.
NCP is a healthcare-focused investment firm led by former founders and operators of healthcare companies. NCP has extensive entrepreneurial and operational experience in both healthcare services and technology companies, many of which serve health systems.
“Healthcare reimbursement and revenue cycle operations have grown increasingly complex, driving hospitals to work harder with fewer hands and insufficient tools,” said Nick Fricano, Healthfuse Founder and Chief Executive Officer. “NCP has a proven track record of building high-growth businesses that leverage technology to deliver market-leading performance. I look forward to partnering with them to enhance Healthfuse’s comprehensive data platform to enable best practices and benchmarking across a national network of health systems.”
“It is imperative that health systems develop and maintain high-trust, high-value relationships,” said Adam Cranford, Managing Director at NCP. “NCP is excited to partner with Nick Fricano and the Healthfuse team to improve vendor performance for our health system clients.
“Vendor reconciliation not only helps health systems’ bottom lines, it helps their vendors improve their own processes. When vendors are performing at optimal performance, you’re more likely to achieve a better return on your outsourcing and technology investments,” said Fricano.
“Healthfuse’s recent growth indicates that the market is increasingly aware of the value of performance-driven, tech-enabled revenue cycle vendor management,” said Cranford. “We are excited to build upon their foundation of success and look forward to actively supporting the team as they enter their next phase of growth.”
Nick Fricano (CEO), Jon Myhre (COO), and the entire Healthfuse management team will continue to lead the company, in partnership with NCP, and remain as committed as ever to deliver high value products and services to their clients.
About New Capital Partners
New Capital Partners (NCP) is a private equity firm comprised of former operators headquartered in Birmingham, Ala. NCP makes investments in niche, tech-enabled services companies in the healthcare, financial and business services industries. Leveraging its extensive operational experience, NCP helps create significant value in portfolio companies by cultivating true partnerships with management teams and focusing on one core goal: Building Great Companies.
For more information, visit: https://newcapitalpartners.com/
Healthfuse works with 150+ hospitals and health systems to provide revenue cycle vendor management services that reduce cost and increase collection performance of revenue cycle vendors. Its automated auditing solution for all hospital account collection provides clients with a 24/7 approach to improving the efficiency of all vendor functions and processes by eliminating variability. Healthfuse guides hospitals and health systems as they create a viable, sustainable revenue cycle vendor structure that increases outputs and saves money.
For more information, visit: https://healthfuse.com