June 15, 2010
The Outsource Group Expands Workers’ Compensation Services with Acquisition of Connecticut Credit
CONTACT: Michael DiMarco (314) 692-6501
ST. LOUIS, MO — The Outsource Group, a national leader in healthcare revenue cycle management, announced today it has acquired Connecticut Credit — a company that performs Workers’ Compensation billing, follow-up and Self-Pay collections for leading healthcare providers. The acquisition expands The Outsource Group’s Third Party Liability services throughout Connecticut, where the company already serves several large hospitals.
Connecticut Credit was founded in 1990 by collection industry veterans Maurice (Mo) Kenneally and James Connell, who leveraged their combined knowledge to help healthcare providers effectively collect accounts and reduce bad debt. Connecticut Credit operates a state-of-the-art facility in Glastonbury, Connecticut, where 30 highly trained professionals serve many of the state’s top healthcare providers.
“Connecticut Credit is an excellent fit with The Outsource Group from three perspectives — geographically, culturally and in its service offerings. We could not have found a better match and are pleased to have the fine people from Connecticut Credit join The Outsource Group,” says Michael A. DiMarco, The Outsource Group CEO.
Connecticut Credit co-owners Kenneally and Connell are enthusiastic about the merger. “The Outsource Group’s client-centered philosophy is in direct alignment with ours and carries on our commitment to extraordinary service,” says Kenneally. “As a national player, TOG brings leadership and resources that will help us expand our offerings to Connecticut hospitals. We are very excited about the opportunities this merger offers our clients and employees.”
Prior to forming Connecticut Credit, Kenneally worked for Corliss Software, a company that provided applications to the collections industry. Kenneally plans to retire after a three-month transition with The Outsource Group. Jim Connell spent much of his career in senior level positions in the collections industry, most notably with Capital Credit Corporation. Connell will remain with The Outsource Group and will continue to run the Glastonbury operations center.
The Outsource Group’s Division President for Insurance and BPO Cheri Kane welcomes Connecticut Credit employees and leaders, stating, “As always, The Outsource Group is committed to providing best-in-class revenue cycle solutions — and this acquisition is evidence of that. Together with the team from Connecticut Credit, we will deliver Third Party Liability services of the highest quality as we expand in this region of the country.”
The Outsource Group has grown exponentially in the past five years through acquisitions and strong organic growth. Nationally headquartered in St. Louis, Missouri, The Outsource Group has offices and operations centers from coast to coast, providing clients with the resources of a large company, plus the individualized services and flexibility of a smaller firm. The Outsource Group continues to seek strategically aligned, best-in-class companies for further expansion in markets across the country.
A number of outside advisors assisted The Outsource Group with the acquisition, including BKD for accounting and Armstrong Teasdale, LLP for legal services. Marion Financial Corporation of Houston, Texas initiated the transaction and provided M&A advisory services to The Outsource Group.
The Outsource Group is a healthcare revenue cycle management company headquartered in St. Louis, Missouri. The company specializes in hospital business office outsourcing, insurance resolution, third-party liability, early out/self pay, bad debt collections, Medicaid eligibility and physician billing and collections. With more than 30 years’ experience in the healthcare industry, The Outsource Group works with blue-chip clients, hospitals, private physician practices, hospital-based physician practices and dental practices across the country. The Outsource Group’s operations centers offer clients state-of-the-art technology and analytic processes to ensure the highest rate of account resolution. The Outsource Group provides cost-effective, value-added revenue cycle solutions from a single source.
May 6, 2010
Acquisition of Patient Financial Medical Services Strengthens
The Outsource Group’s Medicaid Eligibility Service Line
CONTACT: Michael DiMarco (314) 692-6501
ST. LOUIS, MO — The Outsource Group, a national leader in healthcare revenue cycle management, announced today it has acquired Patient Financial Medical Services (PFMS) of Winter Park, Florida — a company that helps patients pay for healthcare by identifying and enrolling qualified individuals in healthcare reimbursement programs. The acquisition expands The Outsource Group’s eligibility services in Florida.
PFMS was founded in 1997 by Bill Punches, who leveraged his knowledge of the industry to help healthcare providers effectively collect accounts and reduce bad debt. The company works with state, federal and county agencies to help patients obtain medical coverage through Medicaid — a process that benefits both the patient and the healthcare provider. PFMS employs 46 highly trained professionals, who work at the company’s Florida headquarters and on site in client locations.
“PFMS is an excellent fit with The Outsource Group because of our shared objectives,” says Michael A. DiMarco, The Outsource Group CEO. “This is an organization that’s committed to getting results for clients through a skilled workforce, best practices and advanced technology. But most importantly, they’re working on behalf of patients to increase access to healthcare services. That’s the kind of dedication we want at The Outsource Group, as we seek to expand our Medicaid eligibility services throughout the country.”
PFMS President and CEO Bill Punches believes the acquisition will have far-reaching benefits, as well. “At PFMS, we have always held our clients and their patients in highest regard, and we’ve invested significantly in resources to support them,” says Punches. “The Outsource Group has risen to national prominence following much the same strategy. By joining forces with them, we can continue to provide the exceptional services our clients have come to expect, along with new services to enhance their financial well-being.”
Punches and PFMS Vice President Lee Weston will remain in leadership roles with The Outsource Group, with Weston managing the Winter Park office.
The Outsource Group’s Division President for Medicaid Eligibility Donny Zamora welcomes PFMS employees and leaders, stating, “We are proud to have this team of ethical, dedicated professionals representing The Outsource Group as we expand our services throughout this region of the country. As this acquisition shows, The Outsource Group remains fully committed to providing best-in-class revenue cycle solutions.”
The Outsource Group has grown exponentially in the past five years through acquisitions and strong organic growth. Nationally headquartered in St. Louis, Missouri, The Outsource Group has offices and operations centers from coast to coast, providing clients with the resources of a large company, plus the individualized services and flexibility of a smaller firm. The Outsource Group continues to seek strategically aligned, best-in-class companies for further expansion in markets across the country.
The Outsource Group is a healthcare revenue cycle management company headquartered in St. Louis, Missouri. The company specializes in hospital business office outsourcing, insurance resolution, third-party liability, early out/self pay, bad debt collections, Medicaid eligibility and physician billing and collections. With more than 30 years’ experience in the healthcare industry, The Outsource Group works with blue-chip clients, hospitals, private physician practices, hospital-based physician practices and dental practices across the country. The Outsource Group’s operations centers offer clients state-of-the-art technology and analytic processes to ensure the highest rate of account resolution. The Outsource Group provides cost-effective, value-added revenue cycle solutions from a single source.
April 23, 2010
The Outsource Group Acquires Health Care Legal Services,
Extending Medicaid Eligibility Reach
CONTACT: Michael DiMarco (314) 692-6501
ST. LOUIS, MO — The Outsource Group, a national leader in healthcare revenue cycle management, announced today it has acquired Health Care Legal Services (HCLS), a California-based company that specializes in helping patients determine if they are eligible for government reimbursement programs in order to pay for healthcare costs. This acquisition is part of the company’s plan to expand its geographic footprint of eligibility services, and Medi-Cal in California represents an important aspect of that strategy.
HCLS has served hospitals in California for more than a quarter-century. Currently, the firm’s client base consists of 74 hospitals, including 28 with Kaiser Permanente — the country’s largest non-profit healthcare organization. HCLS employs a staff of 85, working on site at client hospitals or in the company’s offices located in Santa Ana and Concord, California.
“Helping hospitals identify and successfully enroll qualified patients in Medicaid and other assistance programs is critically important because it provides compensation for the provider and it gives patients access to the healthcare they need,” says Michael A. DiMarco, The Outsource Group CEO. “This is the core area of expertise at HCLS — and it’s one of the many service lines we offer at The Outsource Group. The acquisition of HCLS extends our reach throughout California, where TOG already provides value-added revenue cycle solutions to healthcare providers.”
Donny Zamora is The Outsource Group’s Division President for Medicaid Eligibility and was instrumental in facilitating the acquisition. He states, “Throughout our diligence process, it was obvious that HCLS possessed the same values, passion for excellence, and caring for patients as we do at The Outsource Group. We look forward to HCLS employees and clients becoming part of TOG as we continue to provide a full array of quality revenue cycle solutions to the healthcare industry.”
HCLS President Jim Kozel will remain with The Outsource Group, managing work at the Santa Ana and Concord offices and providing ongoing leadership for the eligibility service line in the West.
“For years, HCLS has been a regional leader in healthcare reimbursement through government programs, like Medi-Cal and Victims of Crime,” says Kozel. “But now, as part of a national revenue cycle management company, we are able to offer our clients far more resources than we have in the past. By joining The Outsource Group, we are better equipped to move our business — and our clients’ — forward.”
The Outsource Group has grown exponentially in the past five years through the acquisition of best-in-class companies and through strong organic growth. Nationally headquartered in St. Louis, Missouri, The Outsource Group has offices and operations centers from coast to coast, providing clients with the resources of a large company, plus the individualized services and flexibility of a smaller firm. The Outsource Group continues to seek strategically aligned, best-in-class companies for further expansion in markets across the country.
The Outsource Group is a healthcare revenue cycle management company headquartered in St. Louis, Missouri. The company specializes in hospital business office outsourcing, insurance resolution, third-party liability, early out/self pay, bad debt collections, Medicaid eligibility and physician billing and collections. With more than 30 years’ experience in the healthcare industry, The Outsource Group works with blue-chip clients, hospitals, private physician practices, hospital-based physician practices and dental practices across the country. The Outsource Group’s operations centers offer clients state-of-the-art technology and analytic processes to ensure the highest rate of account resolution. The Outsource Group provides cost-effective, value-added revenue cycle solutions from a single source.