SourceMedical Announces the Acquisition of Advance Patient Financial Solutions
SourceMedical, the leading provider of outpatient information management solutions to the ambulatory therapy market, today announced the acquisition for an undisclosed amount of Advance Patient Financial Solutions (APFS). APFS is a leading billing and consulting company specializing in the complex revenue cycle of outpatient therapy. Source Medical worked with APFS for years as expert users of their therapy billing products on behalf of other clients. APFS began as the business office operation of Advance Rehabilitation, one of the preeminent rehabilitation services companies in the southeast. Since they branched off into a separate billing company, APFS and Source Medical have grown a steady list of highly satisfied mutual clients. The acquisition will enable both companies to leverage the strengths of the other to offer an even stronger package of critical services and technology at lower prices than any mix of other independent companies can offer.
Birmingham, Ala. (PRWEB) March 31, 2010
SourceMedical, the leading provider of outpatient information management solutions to the ambulatory therapy market, today announced the acquisition for an undisclosed amount of Advance Patient Financial Solutions (APFS). APFS is a leading billing and consulting company specializing in the complex revenue cycle of outpatient therapy.
Source Medical worked with APFS for years as expert users of their therapy billing (http://www. sourcemed. net) products on behalf of other clients. APFS began as the business office operation of Advance Rehabilitation, one of the preeminent rehabilitation services companies in the southeast. Since they branched off into a separate billing company, APFS and Source Medical have grown a steady list of highly satisfied mutual clients. The acquisition will enable both companies to leverage the strengths of the other to offer an even stronger package of critical services and technology at lower prices than any mix of other independent companies can offer.
"This is a very strategic acquisition for us in that it lays the foundation for our entry into the growing therapy billing services business, but in a very unique way. Unlike other Software and billing services companies our systems are compatible, creating a very easy transition for practice managers. Our goal is to offer a continuum of technology and back office services that is so flexible, clients can retain control of their practice." said Larry McTavish, CEO of Source Medical.
"APFS had grown so successfully with our proven best practices approach to the business side of therapy clinic operations and Source Medical's products that we knew we needed to develop a much closer business relationship with Source Medical. That we are able to join the two companies is an incredible leap in the quality, affordability, and comprehensiveness of technology and service available to the industry" said Teresa Bohannon, Director of Advance Patient Financial Solutions.
About SourceMedical
SourceMedical is the leading provider of outpatient information solutions and services for rehabilitation clinics, ambulatory surgery centers, and surgical hospitals nationwide. With more than 4,000 satisfied customers, SourceMedical is the trusted source for innovative applications, in-depth industry expertise and unsurpassed customer service. The company's unique, end-to-end systems improve operational efficiency and cash flow while enabling healthcare facilities to capture, exchange and analyze data to deliver a higher standard of patient care.
About APFS
Advance Patient Financial Solutions began as a Physical Therapist owned and operated corporation providing professional consulting and direct support services for the management of physical therapy clinics throughout the United States. Utilizing a client centric approach, with a customized set of solutions, is what has made Advance Patient Financial Solutions popular with physical therapy clinic owners and managers. The Company has a solid track record of improving operational efficiency and bottom line results.
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