Navigant Consulting Inc. (NYSE: NCI) has acquired McKinnis Consulting Services, a firm that provides revenue cycle assessment, strategy, and optimization assistance for healthcare providers.
The Chicago-based Navigant said the addition of more than 70 McKinnis consultants complements its revenue cycle management (RCM) capabilities and enhances its end-to-end RCM services, including assessment, electronic health records risk mitigation and optimization services.
Navigant paid approximately $49 million in cash and $3 million in Navigant common stock at closing, and may pay up to an additional $10 million to the sellers based on the acquired company’s achievement of certain post-closing performance targets.
Based in Chicago, McKinnis assists healthcare providers in achieving revenue cycle improvement through technology optimization and operational best practices, Navigant said. Its clients include academic medical centers, multi-hospital health systems, physician groups, and community hospitals. McKinnis’ leadership team, including its three founders, James McHugh, Timothy Kinney, and John Morris, will become part of the Navigant revenue cycle leadership team.
“Recent legislation and market drivers have bolstered spending in the healthcare industry and increased demand for EHR optimization on the clinical side,” said James McHugh, managing director of McKinnis, in a prepared statement. “Our EHR risk mitigation and optimization expertise, combined with Navigant’s clinical expertise, will create timely solutions for healthcare organizations.”