DURHAM, N.C. – Longshore Capital Partners (“Longshore”) and its portfolio company, Revco Solutions (“Revco”), are pleased to announce the acquisition of ARMC Financial Services (“ARMC”). Based in Oradell, NJ, ARMC is a healthcare revenue cycle management company that specializes in denials management, helping hospitals collect revenue that is improperly denied by insurance carriers. The acquisition of ARMC provides Revco with broader geographic coverage and an additional service to offer its healthcare clients. In conjunction with Revco’s early out self-pay AR management services as well as primary and secondary bad debt collections, the ability to now offer an insurance denial management solution positions Revco as a full-service healthcare revenue cycle management organization. 

Revco’s CEO, Geoff Miller, commented, “ARMC’s denials management expertise allows Revco to enter a highly attractive niche of the revenue cycle to better serve its existing clients who have a need for these capabilities. We are excited to welcome the ARMC team into the Revco family.”

Ryan Anthony, Partner at Longshore, added, “The acquisition of ARMC represents an important step toward achieving Revco’s strategic goal of broadening its service portfolio across the revenue cycle continuum.”

ARMC, located in Oradell, N.J. has been successfully recovering revenue for health systems, hospitals, and physician groups for over two decades. Their denials management solution enables healthcare providers to effectively increase revenue owed by insurance companies that would otherwise go uncollected as a result of improper denials. 

Jack Hoban, Chief Development Officer at ARMC, said, “We felt that our denial management expertise, processes, and systems were unique and first-rate. But to ensure our long-term viability and scale to a national presence, we needed to find the right strategic business partner. After an exhaustive search process, we are happy to become a subsidiary of Revco Solutions.”

If you have questions regarding this transaction or would like to discuss partnering with Revco Solutions, please contact Geoff Miller of Revco at [email protected] or (919) 971-2313.

About Revco Solutions

Revco Solutions is a new name in collections that has been built on a foundation of proven solutions. Created by the acquisition of Professional Recovery Solutions and Credit Bureau Collection Services in 2019, we bring over a century of collection experience to the healthcare industry. Our combined organizations manage billions in placements annually from hundreds of physician practices, hospitals, and health systems, including several of the top-ten largest non-profit systems in the country. To learn more visit www.RevcoSolutions.com.

DURHAM, N.C. — A new and growing Durham company has three new executives, company officials said today. 

Steve Gayheart, Chris Barbee, and Brad Rounding have joined Revco Solutions as its Chief Operating Officer, Chief Financial Officer, and Chief Information Officer, respectively. 

Revco Solutions is a company resulting from the merger of former Durham entity Professional Recovery Consultants (PRC) into Revco Solutions formerly known as “CBCS”, founded in Columbus, Ohio in 1997.  Revco Solutions performs first and third-party debt collections, and insurance follow-up, or other specialized accounts receivable and call center services for several industries, including healthcare, government, financial, commercial, and utilities.

Gayheart, the new COO, has been with Revco Solutions since May of 2020.  He has been in collections for 29 years and held numerous roles in the industry.

Barbee, CFO, brings more than 20 years of financial leadership to Revco Solutions. Prior to joining the company last year, he served as CFO for Medfusion, Greenlight Health, and has also held senior leadership roles with Quintiles, SciQuest, and Pricewaterhouse.

Rounding, CIO, is an accomplished IT leader who has specialized in IT security over the past 18 years. Prior to joining Revco Solutions last year, he assisted in the development and execution of IT strategic plans for large organizations that have resulted in significant cost savings and improved IT service delivery.

Read more about each on the Meet the Team page.

“These three critical members of the team each bring expertise and energy that will advance the company in its next phases of growth,” said Chief Executive Officer Geoff Miller. 

“Revenue Cycle Management is a specialized field with a lot of moving parts,” Miller said. “These three outstanding people will help us continue on the path of continuously improving our client services.” 

About Revco Solutions

Revco Solutions is a fresh name in the collections industry, but a new brand with a long history of success for the industries it serves. The company launched in 2020 from a combined century performing collection services. With the acquisition of both Professional Recovery Consultants (PRC) and Credit Bureau Collection Services (CBCS) in 2019, under the ownership of Revco Management, LLC, these two organizations have integrated their considerable strengths to rebrand in 2020 as Revco Solutions, Inc.

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DURHAM, N.C. — An industry leader in collections/revenue cycle management has a new name. Professional Recovery Consultants, Inc. (PRC) is now officially Revco Solutions, Inc. (Revco Solutions or the Company). 

The 40-year-old collection agency, based in Durham, North Carolina, was purchased in July 2019 by Longshore Capital Partners (Longshore). Longshore also purchased another collection agency, most recently doing business as CBCS, based in Columbus, Ohio, with a longstanding national presence and branch offices located in Michigan, Ohio, Pennsylvania, and Florida. Revco Management is the holding company for these two entities and CBCS changed its name to Revco Solutions, Inc. this past July in anticipation of the merger.

Revco Solutions performs first and third-party debt collections, insurance follow-up, and other specialized accounts receivable management and call center services for various industries, including healthcare, government, financial, commercial, and utilities. The Company also provides customized programs to improve the revenue cycle for its customers. Revco Solutions is investing heavily in growth and is actively seeking additional acquisition candidates of debt collection and other revenue cycle service companies.  

PRC’s and CBCS team members remain as part of the Revco Solutions staff. Geoff Miller, the former President of PRC, will be the CEO of Revco Solutions. In addition, Larry Ebert, the former President of CBCS, remains as President of Revco Solutions.

“We are thrilled to bring the two organizations together because it merges two experienced and talented teams with the goal of staying at the forefront of the industry,” Miller said. “Together we can better serve our customers, helping them find ways to shorten and improve their revenue cycles.” 

Learn more at revcosolutions.com. 

Columbus, OH – Credit Bureau Collection Services, Inc., doing business and widely known in the collection industry as “CBCS,” with branch offices located in Ohio, Michigan, Pennsylvania, and Florida is changing its name to “Revco Solutions.” This change is in anticipation of joining forces with another top industry leader, Professional Recovery Consultants, Inc., based in Durham, NC. LaSalle Capital owned Revco Management is the holding company for these two entities, expected to merge in the coming months.

Revco Solutions was founded in North Carolina in 1979 and has since grown to become the region’s premier provider of fast, efficient, and hassle-free debt recovery and accounts receivable services. This growth has been a direct result of our concentration on client service while remaining on the cutting edge of new technology and collection technique development. Learn more at http://prorecoveryinc.com/. Revco Solutions provides 1st and 3rd Party Bad Debt collection services for several industries, including healthcare, government, commercial, and utility. 

CBCS was founded in 1948 in Columbus, Ohio. Their original owner, CBC Companies, is a credit reporting company, owning a large amount of consumer credit data. CBCS became one of the earliest adapters in the collection industry by using consumer credit data to model, build processes, and augment efficiency, creating multiple benefits for CBCS’ business partners. CBCS also provides 1st and 3rd Party Bad Debt collection services for the healthcare, utility, and financial industries.

The combination of these two entities will create a strong provider of collection services and other customized programs in the industries that are served. Both companies are similar in experience, culture, services, commitment to compliance, and investment in technology. Geoff Miller, the former President of Professional Recovery Consultants, will remain on as the CEO of Revco Solutions. Larry Ebert, the former President of CBCS, will also remain on as the President of Revco Solutions.

“I couldn’t be happier with the anticipated merger of these two organizations and the opportunity to lead this company. The people involved in these two companies are talented, experienced, and have served our industry for decades. We are set-up for really strong performance and growth with the talent on our team,” says Geoff Miller.

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This month, John is the one being interviewed. PRC (Revco Solutions) President Geoff Miller asks John about what he learned from guests and from the show in 2019. 

John also shares a look at 40 years in healthcare. With real examples, John shares some good — and some not so good — experiences patients have had. He talks about marketing, hospital culture and how it affects relationships, and more. And in one word, John shares the No. 1 main problem plaguing the patient experience. 

Do you have a patient experience story to share or an idea for John to discuss on the show? Let us know by emailing jcook[at]prorecoveryinc.com.  

DURHAM, NC – PRC is pleased to announce that Longshore Capital Partners, a leading private equity firm, recently completed a strategic investment in the company.  

“We are extremely pleased to have Longshore lead the next chapter of growth for PRC,” said PRC (Revco Solutions) President Geoff Miller. “We are confident that we found the right steward for the business who will continue to keep our customers’ and employees’ best interests in mind. 

Miller said customers will not experience any changes, nor will there be a change in the staff headcount. 

“Longshore is the perfect partner to help expand the business to meet the ever-changing needs of our customers and to advance the innovative solutions that our customers depend on. They have an in-depth understanding of collections businesses, supported by their previous investments in Receivables Management Partners and Brown & Joseph.” 

Ryan Anthony, Partner at Longshore, commented, “The team at PRC has built an impressive business and achieved substantial organic growth. We look forward to working with the team to help accelerate the expansion of the business through investments in people and technology as well as strategic add-on acquisitions.”

About PRC (Revco Solutions)

PRC (Revco Solutions) Inc. ®, founded in 1979 and based in Durham, NC, has grown into a leading provider of accounts receivable management services to hospitals, physician groups, and other constituents in the healthcare industry as well as governments, utilities, and retailers.

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Creating a vibrant company culture is a part of The Patient Experience. In this episode, we speak to Mary Emily Wood, who is the Communications Coordinator at PRC (Revco Solutions).

As part of her internal communications efforts, Mary Emily works to create a positive company culture — a challenge for those who work in the collections industry. She talks about the company’s By Change Not Chance (BCNC) Committee and other efforts to maintain a company culture based on values.

Horizon Health Fund Fills Payment Gap by Offering Zero or Low-Interest Plans to Patients

DURHAM — A new solution for patients struggling to pay their medical bills has just launched in Durham, N.C.

Horizon Health Fund, LLC (HHF) is a financing company that provides payment solutions for medical bills. The company is a wholly owned subsidiary of PRC (Revco Solutions) (PRC (Revco Solutions)), a debt collection agency also located in Durham.

Since 2009, medical deductibles have increased 50 percent, putting a higher cost of care burden on people who are sick or injured. While some hospitals offer financial options and payment plans, such plans may not fit many people’s budgets. HHF offers multiple long-term options to pay medical balances, including interest-free and low-interest options. Funding will work as an open-ended line of credit, which means patients can add future balances if necessary. Another fundamental advantage of Horizon Health Fund is the upfront funding provided to the hospital upon a patient’s first payment.

Sixty percent of the patient population needs some type of financial assistance or extended payment terms.
Additionally, 57 percent of all bankruptcies are due to medical debt and 40 percent of all consumers have medical debt with a majority owing over $2,000.

HHF fills in a hole in services, according to Tony Mary, executive vice president of Horizon Health Fund.

“High-deductible Health Plans have created and will continue to create a burden for the patient and the hospital,” Mary said. “Hospitals have a couple of options: get better at collecting self-pay and self-pay after insurance or find a business partner that has a proven history of receivables management expertise.”

Mary, also stressed that a hospital’s cash flow is coming under pressure and the upfront funding provided by Horizon Health Fund can help offset the cash collection deficit.

HHF’s goal will be to minimize defaults while offering patients a flexible payment solution. Should the patient default, the hospital would have the option to use the PRC (Revco Solutions) bad debt program; truly providing the hospital with a full revenue cycle solution, said PRC (Revco Solutions) President Geoff Miller.

“We realized that hospitals need help in managing this growing population of self-pay receivables,” Miller said. “PRC (Revco Solutions) already has the infrastructure to perform these services, as our main function now is contacting patients and managing payment arrangements. So it was a natural fit to add patient financing to our suite of services. Now, the hospital community is able to turn receivables into cash while not having to manage the collection of the accounts.”

More than 60 percent of all patients needing healthcare related services require extended payment terms. PRC (Revco Solutions) and HHF are confident that the combined organization can provide a seamless solution to our health system partners.

About PRC (Revco Solutions)
PRC (Revco Solutions), Inc. was founded in North Carolina in 1979 and has since grown to become the region’s premier provider of fast, efficient, and hassle-free debt recovery and accounts receivable services. This growth has been a direct result of our concentration on client service, while remaining on the cutting edge of new technology and collection technique development. Learn more at http://prorecoveryinc.com/.

About HHF
Based in Durham, N.C., Horizon Health Fund LLC a financing company committed to providing practical payment solutions for consumers with high medical bills in an effort to reduce debt for both hospitals and patients. Hospitals and consumers can learn more at http://horizonhealthfund.com/.