The Outsource Group Announces Acquisition of Medical Debt Collector

The Outsource Group today announced the acquisition of Healthcare Resource Associates, Inc. (HRA), a leading healthcare collection company based in Charlotte, North Carolina.  HRA specializes in bad debt recovery, extended business office solutions for hospitals and physician practices, proprietary Self-Pay Accelerator™ services, and physician practice billing and collection services.

“The acquisition of HRA is part of The Outsource Group’s strategic plan to grow through acquiring ‘best-in-class’ service providers to augment our service offerings and geographic coverage in the healthcare receivables industry,” says Michael DiMarco, The Outsource Group CEO.   “Specifically, HRA adds to our competency in the growing self-pay segment, as well as the physician practice market, and expands our capacity through their nearly 200-person call center in Charlotte.”

“Unlike some companies who are interested primarily in acquiring clients through acquisition, we look for experienced management partners who can help us grow organically as well,” says DiMarco. “In addition, this type of growth enables us to offer receivables management subspecialties as well as local access across the U.S.”

The Outsource Group has experienced rapid growth, with eight acquisitions in the past four years and a growing network of offices and operations centers located in Alabama, California, Louisiana, Massachusetts, Missouri, New York, Texas, and now, North Carolina.  More importantly, the owners of the acquired companies join The Outsource Group’s leadership team as shareholders and operators, bringing expertise and years of experience to the company and clients alike.

“The founder of HRA, Roger Stroud, and his partners John Georgius and Todd Houser, will remain actively involved with The Outsource Group and provide ongoing support and leadership for the entire company, not just the North Carolina branch,” says DiMarco. 

Stroud, a CPA, formed HRA in 1991, after a successful career at Deloitte and Touche, where he specialized in revenue cycle maximization and financial management for healthcare organizations.  “Merging HRA with The Outsource Group is part of our growth strategy, too, as it enables us to provide our proprietary services to more hospitals and physician practices through the efforts of their exceptional business development team,” says Stroud.

The management team from HRA is actively involved in the North Carolina chapter of the Healthcare Financial Management Association, where Stroud is president-elect.  “The expertise and commitment to our industry by these three men has helped propel HRA to a dominant position in the Carolinas and will now be of great benefit to The Outsource Group,” adds DiMarco.

The addition of HRA comes on the heels of The Outsource Group’s acquisition in January of J.J. Mac Intyre, a 50-year-old successful provider of bad debt collection services in California with more than 1,500 clients.  In order to fuel their continued expansion, The Outsource Group recently completed a round of bank financing to be used for future acquisitions, while continuing a strong relationship with its capital partner, ClearLight Partners, LLC – a Newport, California-based private equity firm with $600 million under management.

The Outsource Group is an accounts receivable management company headquartered in St. Louis, Missouri. The company specializes in insurance resolution, third-party liability, early out receivables management, BPO, and bad debt collections for healthcare providers across the country, including hospitals, private physician practices, hospital-based physician practices and dental practices. With 30 years experience in the healthcare industry, The Outsource Group works with blue chip clients providing state-of-the-art call centers utilizing the latest technology and analytic processes to ensure the highest rate of account resolution for its clients. The Outsource Group provides cost effective, value-added solutions for the healthcare industry.