Bottom Line Systems and Medical Reimbursements of America Strategically Align and Name S. Mark Talley as CEO
BOSTON, Sept. 5, 2018 /PRNewswire/ -- Riverside Partners, a Boston-based private equity firm, announces the joining of key leadership and corporate functions of two of its portfolio companies, Bottom Line Systems (BLS) and Medical Reimbursements of America (MRA). The two companies, each of which has individually provided more than twenty years of revenue cycle management leadership to hospitals, will continue to maintain distinct and specialized service delivery organizations.
Riverside Partners, which possesses a portfolio that includes market leaders in the healthcare and technology industries, invested in BLS in March 2016 and MRA in February 2017 with the vision of optimizing each company's existing operations, fueling growth and expanding successful regional businesses to the national level. Together, the two companies possess an expanded geographic footprint and provide services to more than 650 hospitals nationwide.
"BLS and MRA each offer specialized revenue cycle expertise to common stakeholders in the hospital environment and do so with an unwavering commitment to excellence," noted Board Chairman Max Osofsky. "Riverside is excited about aligning these two great companies under common leadership, and continuing to bring advanced technology and specialized teams to the hospitals' most challenging and complex claims."
S. Mark Talley has been named Chief Executive Officer of both BLS and MRA. Talley, who has served as CEO of MRA since June 2017, brings almost thirty years of revenue cycle management leadership experience and understands the financial challenges facing hospitals today. BLS founder and CEO, Bob Stevens, has moved into the role of Executive Chairman of the combined BLS and MRA organization. This new role allows Stevens to engage more directly with clients and the broader healthcare community, focus on growth, and provide vision and support to both companies.
"Hospitals have an acute and significant need for the resources that we offer to ensure reimbursement for their services is adjudicated properly and appropriately, within the myriad of contractual and government rules and regulations in which they operate," stated Talley. "We will continue to serve our customers with the same rigor and commitment, in providing focused results in some of the most complex areas of revenue cycle."
Stevens added, "It is exciting to see BLS and MRA come together so that we can leverage the combined resources, vision, and expertise of the collective organizations. While the organizations will remain separate with respect to day-to-day service delivery activities, the creation of the new executive leadership team will accelerate efforts to share resources and best practices across key business functions, including finance, technology, HR, and legal." BLS CFO Tom Kaylor has been named Chief Financial Officer of the combined organization and BLS COO Matthew Considine has been named Chief Operating Officer.
The companies will continue current operations under their existing names and both client management and service delivery structures will remain the same. The service delivery center for motor vehicle accident and workers' compensation services will continue to be managed from MRA's Franklin, Tennessee location and underpayment and denial prevention services will be managed from BLS's Crescent Springs, Kentucky and satellite locations.
About Bottom Line Systems (BLS)
Bottom Line Systems (BLS) provides specialty reimbursement solutions focused on underpayments and denials services. The company utilizes proprietary technology and a highly skilled team of billing and coding experts to identify and recover additional revenue for hospitals and health systems throughout the U.S. In addition, BLS provides its clients with ongoing information in order to streamline revenue cycle processes, improve payer contracts, and increase future reimbursement. BLS was founded in 1996 and is based in Crescent Springs, Kentucky. For more information, please visit www.onlinebls.com.
About Medical Reimbursements of America (MRA)
Medical Reimbursements of America (MRA) provides specialty reimbursement solutions that identify and recover additional revenue for hospitals and health systems nationwide. MRA's AcciClaim™ solution, led by the industry's leading team of specialized attorneys, revenue cycle experts and account resolution specialists, delivers improved revenue, increased patient satisfaction, and enhanced billing compliance from complex claims related to motor vehicle accidents and workers' compensation injuries. Founded in 1999 and based in Franklin, Tennessee, MRA proudly serves as a definitive source for specialty reimbursement services for more than 500 hospitals and health systems nationwide. For more information, please visit www.mraresults.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, please visit www.riversidepartners.com.
SOURCE Riverside Partners
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