SVP, RCM

Job Description:

NextGen is identifying candidates for the position of Senior Vice President RCM Services for NextGen Healthcare. NextGen Healthcare is a large, market leading provider of healthcare information technology software and Revenue Cycle Management services.

ABOUT NEXTGEN
NextGen is a large, market leading provider of Healthcare Information Technology software and services. The company develops and delivers market-leading Enterprise Health Record (EHR), Physician Practice Management (PM) and Patient Facing solutions under the umbrella of NextGen Enterprise (mid to large physician groups) and NextGen Office for small Ambulatory physician practices. Prior to November 2023, NextGen was publicly traded. Thoma Bravo acquired NextGen in a $1.8 billion" go-private" transaction in November 2023.
Prior to the acquisition, NextGen reported FY23 revenues of over $650 million and issued FY24 guidance in excess of $710 million. The company employs approximately 2,100 in both the US and in India. Over the last several years, the company has navigated a successful transformation and revitalization and has reestablished itself as a leading player in the Ambulatory Healthcare IT space. Under the direction of the existing leadership team and Thoma Bravo, in 2024 the company will be investing in the next phase of an aggressive transformation and growth strategy.
NextGen's software, solutions and services are delivered to more than 100,000 healthcare providers across more than 4,000 group practices throughout the United States. In addition to their core solutions portfolio outlined above, NextGen develops and markets other complementary Healthcare IT solutions like Revenue Cycle Management, Population Health, Analytics & Reporting, Mobile, Virtual visits, Interoperability and Health Information Exchange to drive performance for its customers. Additionally, NextGen has a market leading and highly differentiated partner ecosystem that continues to scale.
NextGen provides solutions to several customer segments including ambulatory healthcare providers, integrated delivery networks and payor or privately owned medical groups and other HCIT players like HIE's and MedTech organizations. In the provider enterprise and small provider practice segment, NextGen supports several clinical specialties including primary care and community health, integrated care, behavioral health, musculoskeletal and ambulatory surgical centers, ophthalmology, women's health, podiatry etc.
In the last six years, NextGen's leadership team has orchestrated a substantial and successful transformation. NextGen has invested over $600m in R&D; more than the previous 15 years combined. The renewed focus on R&D investment and best practices have resulted in NextGen's core offerings being recognized as "Best in KLAS" by KLAS Research And Black Book Research; both leading insights and research firms to the Healthcare IT ecosystem. During this period the company also executed 6 acquisitions, increased its portfolio of partnerships driving $100M+ in annual revenues while consistently decreasing SG&A and driving operational efficiencies.
Looking ahead, NextGen has a strong narrative around continued growth and fiscal strength building from solid past performance. Its 5-year (FY18 to FY23) CAGR in subscription revenues has been 18%. More than 91 % of annual revenues are recurring and more than 25% of revenues were derived from new bookings outside the company's current base.
Nextgen has room to run with an addressable market of $4 billion with growth potential that is increasing by more than 10% YOY in several exciting growth spaces in the industry. Fueling some of this growth is growing demand stemming from the rapidly evolving healthcare IT marketplace being addressed by NextGen's core offerings but also offerings like Population Health, and Data &Analytics and Interoperability that are not only central to the company's long-term success but are also directly contributing to improving physician practices from the back office through the point of care.

ABOUT THOMA BRAVO
Thoma Bravo is one of the largest software investors in the world, with more than US$131 billion in assets under management as of June 30, 2023. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector expertise and strategic and operational capabilities, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20 years, the firm has acquired or invested in more than 450 companies representing over US $250 billion in enterprise value (including control and non­control investments). The firm has offices globally.

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NextGen's client base spans the