If you’re a hospital CFO and aren’t familiar with The Outsouce Group, you probably should be. In recent years, the company has quietly been acquiring revenue cycle management companies across the United States and building a broad-based platform of service providers to the healthcare industry. Now The Outsource group has announced that it recently acquired another firm, XAM/MAX — a company that performs self-pay collections and insurance follow up for leading healthcare providers. The acquisition expands The Outsource Group’s footprint with a significant presence in the Texas market, where the Company already serves several large hospitals.
XAM and MAX were founded in 1994 by collection industry veterans Steve Johnston, Bill Oppman, and Alan Spiegelhauer, who leveraged their combined knowledge to help healthcare providers effectively collect accounts and reduce bad debt. XAM/MAX operates a state-of-the-art facility in Houston, Texas, where 100 highly trained professionals serve top healthcare providers in Texas, Louisiana, California, and Nevada.
“XAM/MAX is an excellent fit with The Outsource Group from three perspectives — geographically, culturally, and in its service offerings. We could not have found a better match and are pleased to have the exceptional people from XAM/MAX join The Outsource Group,” says Michael A. DiMarco, TOG’s CEO.
XAM/MAX co-owners Johnston, Oppman, and Spiegelhauer are enthusiastic about the merger. “The Outsource Group’s client-centered philosophy is in direct alignment with ours and carries on our commitment to extraordinary service,” says Johnston. “As a national player, TOG brings leadership and resources that will help us expand our offerings to hospitals across the country. We are very excited about the opportunities this merger offers our clients and employees.”
The Outsource Group has grown exponentially in the past seven years through acquisitions and strong organic growth. Nationally headquartered in St. Louis, Missouri, The Outsource Group has offices and operations centers from coast to coast, providing clients with the resources of a large company, plus the individualized services and flexibility of a smaller firm. The Outsource Group continues to seek strategically aligned, best-in-class companies for further expansion in markets across the country.
A number of outside advisors assisted The Outsource Group with the acquisition, including BKD for accounting and Armstrong Teasdale, LLC for legal services. Marion Financial Corp. of Houston, Texas, initiated this transaction and provided advisory services to The Outsource Group.
The Outsource Group is a healthcare revenue cycle management company headquartered in St. Louis, Missouri. The company specializes in hospital business office outsourcing, insurance billing and follow up, third party liability, early out/self pay, primary and secondary bad debt collections, Medicaid eligibility advocacy, onsite financial counseling, and physician billing and follow up. With more than 30 years’ experience in the healthcare industry, The Outsource Group works with blue-chip healthcare providers including hospitals, private physician practices, and hospital-based physician practices nationwide. The Outsource Group’s operations centers offer clients state-of-the-art technology and analytic processes to ensure the highest rate of account resolution. The Outsource Group provides cost-effective, value-added revenue cycle solutions from a single source.