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September 22, 2006
Accuro Healthcare Solutions Inc. Acquires CDM Services Group, Inc.;
Expands Its Consulting Services to Healthcare Providers
DALLAS – Accuro Healthcare Solutions Inc. today announced the acquisition of CDM Services Group Inc. (CDMSG) and its hands-on Chargemaster consulting and maintenance services to more than 70 hospitals.
The acquisition of CDMSG from M. Leco & Associates, a Pittsburgh-based national provider of revenue recovery services for the healthcare industry, expands Accuro’s chargemaster management solutions and consulting offerings to hospitals and other healthcare providers nationwide. Terms were not disclosed. It is Accuro’s third acquisition within the last year.
CDMSG uses proprietary software and a staff of experienced professionals to offer chargemaster maintenance, audit and consulting services. The assets and expertise of CDMSG will be combined with Accuro’s existing suite of chargemaster and coding application solutions. Accuro offers a comprehensive set of Web-based coding tools to help hospitals and physicians strengthen the bottom line and shorten the revenue cycle by facilitating accurate pricing and coding practices.
“The strategic acquisition of the highly regarded CDMSG consulting team expands the array of leading chargemaster and coding services we offer to help healthcare providers collect the right revenue at the right time,’ said John Carlyle, Accuro CEO. “The CDMSG consultants add depth to our services while the acquisition further strengthens our ability to help providers address significant industry issues, such as transparent pricing, by maintaining an accurate CDM. Kerry Martin will continue to lead this line of Accuro services.”
M. Leco & Associates will continue to focus on the company’s core audit and recovery services, CEO Mike Leco said.
“We specialize in recovering lost revenue and in improving accounts receivable cash flow for our clients,” Leco said. “Our audit and recovery services are central to our mission of helping hospitals gain fiscal fitness by improving their bottom-line revenues. The acquisition of our consulting services by Accuro positions us to keep a sharp focus on these critical services.”
About Accuro Healthcare Solutions
Accuro is the industry leader in revenue management solutions to help providers achieve optimal financial results in an era of ever-diminishing resources and expanding regulatory complexities. The company’s Web-based applications include MaCS Performance for contract management, CDM ManagerŪ for APC and DRG coding and compliance, CarePricer™ to address transparent pricing issues, Strategic Pricing to calculate rational yet optimum prices, and a complement of other tools for solid business intelligence and analytics.
September 12, 2005
M. Leco & Associates acquires CDM Services Group to expand its niche in revenue cycle services.
PITTSBURGH – M. Leco & Associates Inc. of Pittsburgh Pennsylvania announces its acquisition of the assets of CDM Services Group Inc. of Orlando Florida.
Since 1982, M. Leco & Associates has been a national provider of revenue recovery services for the healthcare industry. All of its services are designed to maximize the revenue received by hospitals through improvements in their charging, billing and collection practices. Leco has generated over $500 million of bottom-line revenue for its hospital clients.
CDM Services Group Inc. is a healthcare outsourcing firm with a national focus, presently serving clients in 21 states. Using proprietary software and a staff of highly experienced professionals, CDMSG provides state-of-the-art, web based Chargemaster Maintenance Service. In addition, CDM Services Group provides CDM-related auditing and consulting to the healthcare industry.
Gary Fong, CEO and founder of CDMSG, will become an executive vice president and principal in M. Leco & Associates.
According to Mike Leco, CEO of M. Leco & Associates Inc., this merger will now enable their firm to provide a fuller array of revenue improving services to hospital clients. The combined resources of the two companies will facilitate more effective marketing of their services to hospitals all across the USA and will provide better support to their clients.
M. Leco & Associates is considering additional acquisition opportunities that compliment their National Strategic Growth Initiative.
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