Fort Lauderdale, FL – Medical Consultants, Inc. (“Medical Consultants”), a portfolio company of Parthenon Capital, announced today the acquisition of Revenue Rescue, LLC, a leading fire department incident billing services provider to more than 500 fire departments. Medical Consultants is the only national company focused exclusively on the revenue cycle management needs of all emergency professionals, serving emergency physicians through its emergency department billing services division and emergency medical services agencies through its EMS division (Advanced Data Processing, Inc. or “ADPI”).
Revenue Rescue, based in Austin, Texas, specializes in billing and accounts receivable management services for fire department responses. Revenue Rescue has served communities in Texas and Pennsylvania with excellence for over five years and has recently expanded its services to Florida.
Revenue Rescue provides fire departments a web-based incident submission technology that captures incident information and provides immediate customer access to the incident data for supervisor review. On submitted incidents, Revenue Rescue engineered a sophisticated event tracking technology that evaluates and manages incident submission information to maximize back office billing and collection performance. Together, these technologies increase the productivity of frontline fire personnel and enhance service revenues by reducing the average time to bill, improving charge capture, and ensuring proper claim follow up.
ADPI is the largest independent provider of medical billing and coding services and technology to emergency medical services agencies in the United States. ADPI provides a full outsourced billing solution including the provision of mobile electronic patient record collection systems for its clients to capture patient information at the scene of the incident.
With Revenue Rescue, ADPI now offers fire department billing solutions for motor vehicle, hazmat, and fire response in addition to EMS billing solutions. The combined company will serve over 700 emergency care providers in 22 states and the District of Columbia.
Doug Shamon, Chief Executive Officer, commented, “Many fire departments are facing significant property tax cutbacks that jeopardize their funding and may require spending cuts. Such cuts threaten to weaken the nation’s safety-net we know as first responders. Consequently, cities, counties and independent fire districts are adopting new programs to recover the cost of responding to accidents and other incidents. Revenue Rescue has achieved tremendous collection results for their customers. With their experience, technology, and know-how, ADPI is now well positioned to help fire departments as they consider additional funding strategies.”
Medical Consultants, Inc. (www.epbs.com), founded in 1983, provides comprehensive billing services for hospital-based emergency physicians setting the standard for customer service, information, management reporting, technology and overall performance.
Advanced Data Processing, Inc. (www.emsclaims.com) specializes in emergency medical services billing and technology. With a twenty-five year history, the Company is the leading provider of EMS billing services in the USA with five regional operations centers serving over 225 customers.
Parthenon Capital (www.parthenoncapital.com) is a leading mid-market private equity firm based in Boston and San Francisco. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in business services, financial and insurance services and healthcare, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. Parthenon’s 25 person investment team has deep experience in corporate strategy, capital markets and operations, enabling the firm to pursue complex, multi-faceted value creation opportunities.