La Palma, Calif. – August 28, 2014 – Today, The Innovation Institute announced the acquisition of Healthcare Coding & Consulting Services (HCCS) as a subsidiary of its Enterprise Development Group portfolio of health care service companies. Based in Fort Myers, Florida, HCCS has provided coding services to small to large health care systems, including St. Joseph Health, since 2006.
“We were approached by many different groups ranging from large venture capitalists to wealthy investors. But there was one organization that stood out; The Innovation Institute had a great idea and, most importantly, they were people who I knew well and in whom I placed great trust. Our team ultimately decided that a partnership with The Innovation Institute was the best way to take our company to the next level,” said Bill Cronin, CEO of HCCS.
“We are pleased to add Healthcare Coding and Consulting Services to our portfolio of companies. There is a tremendous need for medical record coders and we believe that this acquisition allows us to take advantage of this market opportunity,” said Joe Randolph, president and CEO of The Innovation Institute.
HCCS is an HIM coding, auditing and consulting company founded upon uncompromising values and dedicated to the clients it serves, and to each other. HCCS is comprised of a full-time team of top domestic, certified and specialized coders to provide accurate and timely coding of all hospital services on a backup or total outsource basis. To ensure high quality, HCCS provides its coders with the best tools and invests heavily in their ongoing development. Coding accuracy, which is HCCS’s first priority, is crucial to compliance and the capture of all legitimate revenue. Acting not as a staffing company, but as an extension of the hospital’s own HIM Department, HCCS has proven that it can have an immediate and positive impact on any facility’s revenue cycle.
About The Innovation Institute
The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute will be owned by seven non-profit health systems. This collaborative will tap into physicians, employees, and industry business partners to incubate and commercialize new products and ideas. Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), the Institute strives to “do more, with less, for more people.” For more information, visit lab.ii4change.com