Med Advantage Acquires CredNet Provider Enrollment Services
Med Advantage, an industry-leading Credentials Verification Organization (CVO) announced today it will acquire the Provider Enrollment Services business from CredNet
Orlando, FL (PRUnderground) March 31st, 2015
Med Advantage, an industry-leading Credentials Verification Organization (CVO) announced today it will acquire the Provider Enrollment Services (PES) business from CredNet, LLC for an undisclosed amount. Med Advantage is considered one of the original formed CVOs operating throughout the United States. Med Advantage is privately owned and operated by John Barrett and is located in Central Florida.
“It just made sense to continue to grow the provider enrollment part of Med Advantage while leveraging the additional clients from CredNet. We (Med Advantage) have 23 years of credentialing experience on the CVO side, and with that comes a proprietary database, automated processes and efficient workflow to improve the relationships with many of the hospitals and managed care organizations,” Barrett said.
CredNet’s business model will continue to be twofold: a network growth organization and credentialed network. Moving the enrollment services to Med Advantage allows CredNet to concentrate on its two core product lines.
Med Advantage will continue to leverage its completely revamped proprietary software to manage all of its new and existing client base while continuing to grow exponentially, and provide top-notch service to its customers.
Moving forward, the PES division of CredNet will transition to Med Advantage, while the network aspect will continue to be branded as CredNet.
“We’re excited about this,” Barrett said. “Our clients—current and future—will only benefit from this type of transaction.”
About Med Advantage
Med Advantage (www.Med-Advantage.com and www.ManageMyCredentials.com is considered one of the founding Credentials Verification Organizations (CVO) and has one of the largest independent provider data centers performing credential services and Provider Enrollment Services (PES) to providers, managed care companies, insurance companies, hospitals, independent physician associations and other healthcare organizations.
Med Advantage credentials all types of providers including physicians, dentists, chiropractors, podiatrists, psychiatrists, nurses, social workers, therapists and more. Med Advantage has developed and actively maintains a proprietary database containing verified records just over 1 million individual healthcare providers who have been credentialed by the CVO at least once (actual transactions are over 1.8 million), as well as a data warehouse which links together most primary data sources. For additional information on services, contact Med Advantage 407.282.5131