DataBank Acquires Alpha Systems
Leader in Process Automation to Improve Healthcare Revenue Cycle Operations and Predictive Analytics for Denials joins with DataBank.
KING OF PRUSSIA, PA. DataBank IMX, LLC (DataBank) announced today that it has acquired Alpha Systems, headquartered just north of Philadelphia in Huntingdon Valley, PA.
“The acquisition of Alpha Systems grows our presence in the Healthcare market and brings unique solutions and intellectual property we can leverage to better serve our Healthcare clients nationally.” said Chuck Bauer, Co-founder & CEO of DataBank. “Alpha Systems expands our healthcare solutions capabilities and widens our client base. We gain a fantastic group of teammates, one of only 417 companies in the United States with ISO 27001 certification for security and operations, Six Sigma quality and market leading software solutions such as Alpha ImageWorks® and Alphalytics™.”
Alpha Systems is the leading provider of Electronic Document Management solutions to improve revenue cycle operations to hospitals and health systems in the Mid-Atlantic region. These include outsourced process automation services enabling Healthcare organizations to more rapidly and accurately turn services into cash, a strong predictive analytics solution called Alphalytics to provide insight into denials before they happen, and the secure storage and ‘scan on demand’ of patient healthcare records. Alpha Systems SaaS delivered EDM systems for Healthcare organizations reliably deliver billions of page views and terabytes of clinical, financial and operational data each year. Alpha Systems solutions are in use by nearly 75,000 users. With robust features and proven functionality tailored to the Healthcare market coupled with the power of SunGard services redundant reliability across the country, Alpha Systems is positioned to accommodate growth.
“Alpha Systems has an awesome group of Revenue Cycle Management optimization experts, solutions architects and engineers who will favorably impact our clients’ process automation and re-engineering,” states Chad VanNorman, DataBank CIO. “The combination of Alpha Systems’ nearly forty (40) years of experience in the Healthcare market and DataBank’s nationwide document conversion capabilities will enhance the solutions offering for clients of both companies.”
Alpha Systems will merge to become the Healthcare division of DataBank nationally and leverage its existing 200,000sq/ft. of facilities in Pennsylvania. This division, coupled with the existing DataBank healthcare business will comprise 30% of overall Databank revenue and be led by former owner and President of Alpha Systems, Scott Griffith.
“Our team is very excited to join the DataBank family and we look forward to working together to combine and leverage our unique strengths across a larger organization,” said Scott Griffith. “Alpha Systems’ customers will benefit from an expanded solution offering of Business Process Automation services including digital mailroom, Accounts Payable and Licensing and Accreditation process outsourcing. In addition, DataBank’s breadth of software solutions including Hyland’s OnBase for Healthcare gives our clients access to an enterprise-class platform for success delivered by Hyland’s Number #1 partner in the US.”
About Alpha Systems
Alpha Systems has served the healthcare community for nearly 40 years with a goal to proactively improve hospitals’ financial outcomes by using technology to maximize ROI. Driven by lowering denials and improving revenue cycle operations for its client’s, Alpha Systems puts actionable information in the hands of revenue cycle teams by providing data capture, automation and predictive analytics solutions. For more information, visit www.alpha-sys.com or call 800-732-9644.
About DataBank IMX
DataBank, http://www.databankimx.com, has rapidly become an industry leader in Business Process Automation, providing Workflow & Enterprise Content Software solutions, document management and document conversion services with eleven state-of-the-art production centers nationwide. DataBank is a national full service provider of document management solutions and document/data capture services. They provide a comprehensive range of imaging services, document management software, web-based document hosting, end-to-end vertical industry Enterprise Content Management (ECM) and department-level solutions for companies and organizations that want to improve their business processes. As an Industry leader, DataBank understands its customers' business environments and is delivering value-added application solutions and services to thousands of clients throughout the United States.
DataBank enjoys industry partnerships with document management and technology organizations from around the world, and has regularly received national recognitions for its performance and quality by Hyland, Kodak, Digitech Systems and Kofax. DataBank also understands the importance of protecting vital information belonging to its clients with SOC2 Type II and PCI/DSS certifications. The company assists their clients in complying with HIPPA, FERPA, SOX and other government and internal regulations and compliance requirements.