Revenue Cycle Solutions, Inc. (RCS), an industry-leading provider of patient account resolution services, today announced the addition of veteran healthcare executives, Mike Jacoutot and Mary Ann McLaughlin as Chief Executive Officer and Chief Operating Officer, respectively.
Mr. Jacoutot and Ms. McLaughlin have worked together successfully for almost two decades and most recently led one of the country’s leading hospital-focused healthcare staffing companies, doubling revenue and quadrupling EBITDA in their five-year tenure.
Together, they have teamed with Waud Capital Partners, a leading middle-market private equity firm, to acquire RCS as the foundation from which to build a full suite of revenue recovery solutions for hospitals. Established in 2002, the Company operates from two locations in suburban Chicago (headquarters) and Birmingham, Alabama. RCS currently partners with over 100 hospitals and their physicians groups across the country to provide account resolution services including early-out self-pay, insurance claims resolution and aged receivables recovery.
“Waud Capital is a value-added partner with considerable investment experience in the healthcare industry and a proven track record of growing companies,” said Mr. Jacoutot. “Utilizing RCS’ unique technology and patient-centric approach, we will expand our geographical footprint and service offerings through investment in the company and by strategically considering and pursuing acquisitions that create exceptional value for our customers.”
Ms. McLaughlin added, “Hospitals face increasing profit and process challenges with the continuing shift toward higher patient responsibility for co-payments and deductibles. RCS provides the expertise and infrastructure to address many of these challenges and the Company’s continued focus on improving the healthcare revenue cycle will accelerate hospital cash flow while also improving patient satisfaction.”
Founded in 2002, RCS is a leading provider of account resolution services to hospitals and hospital-based physician groups throughout the United States. With proprietary technology, tools and processes, RCS specializes in providing self-pay follow-up services and resolution of insurance claims for hospitals.
WCP is a leading middle market private equity investment firm founded in 1993 that partners with exceptional management teams to invest in growth equity investments, industry consolidations, buyouts and recapitalizations. The firm seeks to invest $20 to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and select industrial businesses.