SimiTree, a company that provides industry-leading, tech-enabled specialty revenue cycle management (RCM), coding, professional services, and talent management resources for post-acute and behavioral health organizations, has strengthened its position in the U.S. behavioral health support market with the acquisition of two new companies.
SimiTree CEO and Managing Principal Bill Simione today announced the acquisition of Michigan-based Afia, a leader in behavioral health data analytics and consulting, and Florida-based GreenpointMed, a medical billing and credential service provider to healthcare practices nationwide.
The strategic expansion augments the full spectrum of support services SimiTree and its behavioral health flagship, Infinity Behavioral Health Services, offer behavioral health providers of all sizes, ranging from start-up to enterprise operations.
“This move delivers the scalability SimiTree needs to address the behavioral health industry’s growing need for our services as we head into 2023,” Simione said. “We remain committed to providing a robust array of services to assist behavioral health providers in developing a stronger revenue cycle with improved cash flow, higher collection rates, and best-in-class processes.”
Afia uses data-driven decision making to solve business challenges by simplifying EHR implementations, driving clinical best practice, optimizing revenue cycles, and creating IT infrastructures that move behavioral businesses forward. Its acquisition expands SimiTree’s leading data analytics capabilities to benefit clients with tech-enabled optimization of clinical, financial, and operational functions and greater insight from actionable data.
“As a leader in data analytics for the post-acute field, SimiTree recognizes how important actionable data is to the success of all our post-acute and behavioral health clients,” Mike Freytag, SimiTree managing principal and EVP, said. “The acquisition of Afia brings SimiTree’s post-acute and behavioral health clients a level of technology that will allow them to become leaner, smarter and most importantly, more profitable.”
“We will expand our data analytics impact in the behavioral health industry with the synergies that are created across the enterprise,” said Matt Hoffman, managing partner of Afia. “Afia’s technology solution and consulting services can now be leveraged to all SimiTree’s clients.”
The acquisition of GreenpointMed further enhances the level of support SimiTree delivers to clients, expanding billing and debt recovery capabilities and offering behavioral health providers time-saving credentialing services with insurance panels. GreenpointMed has extensive credentialing experience with all insurers, including Medicare and Medicaid, in every state.
“We’re excited to bring on board GreenpointMed’s skilled team, with its impressive record of supporting clients in achieving their financial goals,” said Freytag.
“Becoming part of SimiTree offers GreenpointMed the ability to provide greater efficiencies for our customers and gives us the ability to serve a wider population of mental health practices,” said GreenpointMed Founder and President Justin Gaines. “We will now be able to offer SimiTree’s broader clinical, financial, and operational resources while continuing to grow and expand our offerings.”
Greenberg Advisors, LLC served as exclusive M&A advisor to SimiTree.
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