FORT WAYNE, Ind. (WPTA) – Parkview Health announced on Friday that it has signed an agreement to acquire Ovation Healthcare, a shared services provider, as part of its multi-year plan to lower costs for patients. <\/p>\n
Ovation partners with healthcare organizations to help strengthen their financial performance through revenue cycle management that lowers hospitals\u2019 cost to collect. <\/p>\n
According to Parkview, the investment will help lower the cost of care for patients and employers as Ovation identifies ways to reduce administrative expenses.<\/p>\n
The Tennessee-based company works with over 500 healthcare organizations across 48 states, from rural providers to large health systems. <\/p>\n
The acquisition is expected to close in the coming weeks following necessary regulatory approvals. Once Parkview officially owns Ovation, Parkview says Ovation will continue to operate as a separate organization with its own governing board. <\/p>\n
Parkview Health operates 16 hospitals, along with a network of primary care and specialty care physicians. The healthcare system is also currently building a new $200 million hospital in West Lafayette<\/a>, and recently finalized a partnership with Goshen Health<\/a>. <\/p>\n To be the first to get the latest breaking news alerts, download the 21Alive News App here<\/a>.<\/p>\n