The Outsource Group Acquires Patient Financial Medical Services

ST. LOUIS — The Outsource Group, a national leader in healthcare revenue cycle management, announced today it has acquired Patient Financial Medical Services (PFMS) of Winter Park, Florida — a company that helps patients pay for healthcare by identifying and enrolling qualified individuals in healthcare reimbursement programs. The acquisition expands The Outsource Group’s eligibility services in Florida.

PFMS was founded in 1997 by Bill Punches, who leveraged his knowledge of the industry to help healthcare providers effectively collect accounts and reduce bad debt. The company works with state, federal and county agencies to help patients obtain medical coverage through Medicaid — a process that benefits both the patient and the healthcare provider. PFMS employs 46 highly trained professionals, who work at the company’s Florida headquarters and on site in client locations.

“PFMS is an excellent fit with The Outsource Group because of our shared objectives,” says Michael A. DiMarco, The Outsource Group CEO. “This is an organization that’s committed to getting results for clients through a skilled workforce, best practices and advanced technology. But most importantly, they’re working on behalf of patients to increase access to healthcare services. That’s the kind of dedication we want at The Outsource Group, as we seek to expand our Medicaid eligibility services throughout the country.”

PFMS President and CEO Bill Punches believes the acquisition will have far-reaching benefits, as well. “At PFMS, we have always held our clients and their patients in highest regard, and we’ve invested significantly in resources to support them,” says Punches. “The Outsource Group has risen to national prominence following much the same strategy. By joining forces with them, we can continue to provide the exceptional services our clients have come to expect, along with new services to enhance their financial well-being.”

Punches and PFMS Vice President Lee Weston will remain in leadership roles with The Outsource Group, with Weston managing the Winter Park office.

The Outsource Group’s Division President for Medicaid Eligibility Donny Zamora welcomes PFMS employees and leaders, stating, “We are proud to have this team of ethical, dedicated professionals representing The Outsource Group as we expand our services throughout this region of the country. As this acquisition shows, The Outsource Group remains fully committed to providing best-in-class revenue cycle solutions.”

The Outsource Group has grown exponentially in the past five 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.

The Outsource Group is a healthcare revenue cycle management company headquartered in St. Louis, Missouri. The company specializes in hospital business office outsourcing, insurance resolution, third-party liability, early out/self pay, bad debt collections, Medicaid eligibility and physician billing and collections. With more than 30 years’ experience in the healthcare industry, The Outsource Group works with blue-chip clients, hospitals, private physician practices, hospital-based physician practices and dental practices across the country. 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.