The Outsource Group Expands Workers Compensation Services with Acquisition of Connecticut Credit

ST. LOUIS — The Outsource Group, a national leader in healthcare revenue cycle management, announced today it has acquired Connecticut Credit — a company that performs Workers’ Compensation billing, follow-up and Self-Pay collections for leading healthcare providers. The acquisition expands The Outsource Group’s Third Party Liability services throughout Connecticut, where the company already serves several large hospitals.

Connecticut Credit was founded in 1990 by collection industry veterans Maurice (Mo) Kenneally and James Connell, who leveraged their combined knowledge to help healthcare providers effectively collect accounts and reduce bad debt. Connecticut Credit operates a state-of-the-art facility in Glastonbury, Connecticut, where 30 highly trained professionals serve many of the state’s top healthcare providers.

“Connecticut Credit 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 fine people from Connecticut Credit join The Outsource Group,” says Michael A. DiMarco, The Outsource Group CEO.

Connecticut Credit co-owners Kenneally and Connell 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 Kenneally. “As a national player, TOG brings leadership and resources that will help us expand our offerings to Connecticut hospitals. We are very excited about the opportunities this merger offers our clients and employees.”

Prior to forming Connecticut Credit, Kenneally worked for Corliss Software, a company that provided applications to the collections industry. Kenneally plans to retire after a three-month transition with The Outsource Group. Jim Connell spent much of his career in senior level positions in the collections industry, most notably with Capital Credit Corporation. Connell will remain with The Outsource Group and will continue to run the Glastonbury operations center.

The Outsource Group’s Division President for Insurance and BPO Cheri Kane welcomes Connecticut Credit employees and leaders, stating, “As always, The Outsource Group is committed to providing best-in-class revenue cycle solutions — and this acquisition is evidence of that. Together with the team from Connecticut Credit, we will deliver Third Party Liability services of the highest quality as we expand in this region of the country.”

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.

A number of outside advisors assisted The Outsource Group with the acquisition, including BKD for accounting and Armstrong Teasdale, LLP for legal services. Marion Financial Corporation of Houston, Texas initiated the transaction and provided M&A 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 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 healthcare providers including hospitals and hospital-based physician 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.