LOS ANGELES, Sept. 25, 2017 /PRNewswire/ -- Episource announced today that it has signed a definitive agreement to purchase Peak Payer Solutions, a provider of risk adjustment chart audits, and in-home health risk assessments for health care payers. Peak has a nationwide network of over 750 healthcare providers across all 50 states. The addition of Peak's capabilities will enhance the Company's existing range of innovative risk adjustment and quality products and services, and significantly increases Episource's capacity to provide the full spectrum of payer solutions. With this acquisition, Peak will now be under the Episource umbrella. Episource pro forma revenue will be over $75 million, making it amongst the largest risk adjustment and quality solutions companies in the industry.
"With the shift towards value-based care, we see tremendous opportunities in adding Peak's national network of clinicians and robust health risk assessment tools to our analytics and medical record review platform to help close care gaps and improve patient outcomes for our payer clients. This acquisition sets the path for us to become a leader in end-to-end solutions in Risk Adjustment, Quality, and Clinical Services," said Sishir Reddy, co-CEO of Episource.
Peak, which is headquartered in Tampa, Florida, operates in all 50 states, and Puerto Rico, offers its services nationally to many of the largest and most respected Medicare Advantage and Medicaid health plans, as well as health plans operating on the rapidly expanding commercial healthcare exchanges and risk-bearing provider organizations.
"This acquisition shows our ongoing commitment to providing our clients with a comprehensive portfolio of solutions to manage at-risk populations, increase efficiency, and identify and close care gaps. It also underscores our strategy to continue to grow our product offerings both organically and through M&A," added Harshith Ramesh, co-CEO of Episource.
With this acquisition, Episource is better positioned to support healthcare organizations as they navigate unprecedented marketplace disruption, including the growth in Medicare Advantage, Medicaid, exchange-based insurance markets and the transition to value-based care models.
"Episource and Peak share a common vision and culture focused on driving client success through outstanding customer service, innovation, and execution. This transaction will allow us to further advance our ability to be a one-stop shop for our clients, with unmatched best-in-class products and services. All of us at Peak are excited about the combination, and look forward to bringing the best of our two companies to our clients," said Bob Bunker, Peak's Chairman.
Episource is driven to collect data that's insightful and accurate. With innovative technology and a global services model, our mission is to help Healthcare Payer and Provider Organizations meet their members' needs in a way that results in better patient experience and health outcomes.
From robust Risk Adjustment Analytics, Retrospective Chart Reviews, Quality Reporting, Encounter Data Submissions, and Clinical Services, Episource starts with the smallest details and translates them to create better insights around patient disease profiles and care gaps.
Episource is headquartered in Gardena, California with additional operations in India and the Philippines. For more information on Episource, visit www.episource.com
Peak is a leading provider of Risk Adjustment services and solutions to government and commercial payers across multiple lines of business, including Medicare Advantage, commercial (small-group), and Medicaid. Peak offers comprehensive solutions to Health Plans which include retrospective chart reviews, in-home health and wellness assessments and retrieval services. Peak focuses on proper documentation and improving patient care to help Plans optimize their quality scores, evaluate their risk measures and documentation, and focus member outreach efforts to areas where they can have the most impact.
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