Capstone Partners advised Professional Claims Bureau, Inc. (PCB), a leading full service healthcare revenue cycle management solutions provider, on its sale to Meduit, LLC, a portfolio company of NexPhase Capital.
Established in 1964 in Mineola, New York as a family-operated company, PCB has dedicated nearly 60 years to helping area hospitals and physician practices realize increased revenue while cutting unnecessary costs.
When we began our search for a banking partner, Capstone came highly recommended and did not disappoint. Throughout the process they were there to advise, assist, recommend and strategize. The professionalism, attention to detail and knowledge was a tremendous help in realizing our goals and we could not be happier with the result.
“PCB has a long history of working with hospitals and physician practices to achieve excellence by improving cashflow, lowering expenses and increasing operational efficiency,” said Ken Marcus, President and CEO. “Joining Meduit will allow our team to provide even more support to our clients from the beginning of the patient account all the way through to completion.”
“As PCB has continued to grow into one of leading healthcare revenue cycle management vendors in our market, our goal has always been to provide our clients with a one stop shop for end-to-end revenue cycle solutions,” said Leigh Marcus, Executive Vice President. “We have long sought a partner with the technological capabilities and scale of Meduit to further assist our clients in addressing all their revenue cycle needs.”
Roger Kahn, a Managing Director In Capstone’s healthcare group, added “It was a real pleasure to work with the management team of this leading revenue recovery company serving many of the major hospitals In the New York area In achieving a liquidity event that recognized the strength of their franchise and their 60 year history.” Rod Rivera, who focusses on Healthcare Services at Capstone, stated “We were able to find an Ideal partner In Meduit whose complementary products and services were a perfect fit with PCB. The revenue cycle recovery sector Is showing tremendous growth as hospitals and medical practices are under increasing pressure to reduce costs and accelerate their cash collections.”
As one of the leading revenue cycle solutions companies in the nation, Meduit makes vital contributions to the financial, operational, and clinical health of hospitals and large physician practices by delivering expert, efficient and innovative RCM solutions. In addition to its proven healthcare-focused RCM solutions, Meduit is also widely regarded as a pioneer in artificial intelligence and robotic process automation solutions for healthcare RCM.
“PCB is known for its integrity, ethics and treating patients respectfully and professionally, which is a perfect match for Meduit’s approach to healthcare RCM,” said Jeff Nieman, CEO of Meduit. “PCB will strengthen Meduit’s position as a respected national center of excellence in revenue cycle solutions and innovations, driving financial health to our combined clients across the country.”
Meduit is one of the nation’s leading revenue cycle solutions companies with decades of experience in the RCM arena, serving more than 850 hospitals and physician practices in 46 states. Meduit combines a state-of-the-art accounts receivable management model with advanced technologies and an experienced people-focused team that takes a compassionate and supportive approach to working with patients. Meduit significantly improves financial, operational and clinical performance, ensuring that healthcare organizations can dedicate their resources to providing more quality healthcare services to more patients. For more information, please visit www.meduitrcm.com.