HORSHAM, PA, September 13, 2010 – NCO Group, Inc. (NCO), a leading provider of business process outsourcing (BPO) solutions is pleased to announce the launch of its’ end-to-end Healthcare Revenue Cycle Management (RCM) Solution.
NCO’s integrated RCM solution is a single-source offering that allows healthcare providers to improve revenue cycle performance, patient satisfaction and ultimately patient care. NCO’s comprehensive RCM solutions include the coordination and optimization of all clinical and administrative functions that contribute to the capture, management, and collection of net patient revenues.
NCO also announced today that it has acquired Health BluePrints, Inc (HBPI), a leading healthcare solutions provider specializing in hospital revenue cycle services. HBPI assists hospitals and healthcare providers in assessing, designing, and managing a broad spectrum of individualized products offerings, targeted to the specific needs of the healthcare system. The founders of HBPI, MaryAnne Pace and Katrina Tompkins, each have over 20 years of healthcare industry experience and will lead NCO’s revenue cycle management consulting practice.
In addition to the acquisition of Health BluePrints, NCO also announced the recent appointment of Jeff McQuillan as Vice President of Health Information Management Solutions and Services. Mr. McQuillan has over 30 years experience in the healthcare industry, including his prior tenure as the co-founder of eWebHealth, which was among the pioneers of companies offering remote coding technology to the healthcare industry.
Commenting on the announcement, Michael J. Barrist, Chairman and Chief Executive Officer of NCO, said, “NCO is the service provider of choice for over 2,000 hospitals and healthcare providers, with a primary focus on the management and collection of patient receivables. The opportunity to dramatically expand our service offering into a comprehensive RCM solution allows us to best meet our clients’ needs in an increasingly complex and competitive marketplace. NCO’s RCM offering blends people, processes and technology to deliver sustainable results whether the need is a short-term customized project or long-term revenue cycle outsourcing. We are also extremely excited to welcome MaryAnne Pace, Katrina Tompkins and Jeff McQuillan into the NCO family.”
Also commenting on the acquisition, MaryAnne Pace, co-founder of Health BluePrints stated, “Healthcare providers are looking for solutions to increase net cash, achieve revenue cycle performance improvement, enhance operational efficiency, and improve overall patient and physician satisfaction. We are very excited to be joining NCO. We truly believe that the combination of our proprietary RCM assessment models and tools with the largest and most dynamic operating platform in the Healthcare industry will afford new and existing clients the opportunity to rapidly assess their needs and execute on opportunities.”
NCO’s Revenue Cycle Management (RCM) solution consists of pre-admission to account resolution service offerings in five (5) core areas, including; (1) Consulting and Assessment Services; (2) Patient Access Services (including patient scheduling, pre-registration, third party eligibility, insurance verification, registration, billing estimates); (3) Health Information Management (including clinical documentation, coding, transcription); (4) Accounts Receivables Management (including claims management, remittance, and collection services); and, (5) Customer Service/Quality Assurance (including patient and physician satisfaction programs).
About NCO Revenue Cycle Management Healthcare Services
NCO has been providing revenue cycle management services to healthcare providers for several decades and is now one of the largest providers of such services in the world. NCO serves more than 2,000 healthcare providers throughout the United States, offering solutions throughout the entire healthcare revenue management cycle. Our clients include community hospitals, for-profit and not-for-profit hospitals, academic institutions, physician groups, and the country's largest healthcare systems.
About NCO
NCO Group, Inc. is a leading global provider of business process outsourcing (BPO) services, primarily focused on accounts receivable management and customer relationship management solutions. NCO provides services through over 100 offices throughout North America, Asia, Europe and Australia.
NCO Contact:
NCO Group, Inc.
Tom Hoy, Senior Vice President of Marketing (215) 441-2139
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Certain statements in this press release, including, without limitation, statements as to the impact from acquisitions, statements as to NCO’s or management’s beliefs, expectations or opinions, and all other statements in this press release, other than historical facts, are forward-looking statements, as such term is defined in the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Forward-looking statements are subject to risks and uncertainties, are subject to change at any time and may be affected by various factors that may cause actual results to differ materially from the expected or planned results. In addition to the factors discussed above, certain other factors, including without limitation, risks related to the economy, the risk that NCO will not be able to implement its business strategy as and when planned, the risk that NCO will not be able to realize operating efficiencies in the integration of its acquisitions, risks related to NCO’s significant level of debt, risks of future impairment charges to our goodwill, intangible assets and purchased accounts receivable, risks related to union organizing efforts at the Company's facilities, risks related to past and possible future terrorists attacks, the risk that NCO will not be able to improve margins, risks relating to growth and acquisitions, risks related to fluctuations in quarterly operating results, risks related to the timing of contracts, risks related to international operations and other risks detailed from time to time in NCO’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2009, can cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Company disclaims any intent or obligation to publicly update or revise any forward-looking statements, regardless of whether new information becomes available, future developments occur or otherwise.
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