Through its Convergent Accounts Receivable Excellence (CARE) service lines, Convergent helps hospitals maximize reimbursement from patient care through non-governmental insurance, self-pay collections, Workers' Compensation, motor vehicle accident, problem claims, and patient access solutions, along with bad debt recovery
through their affiliate company Convergent Healthcare Recoveries, Inc.
Adjusted EBITDA*, defined as net loss before interest, taxes, depreciation, amortization, stock-based compensation, severance charges and bad debt recovery
or expense, for the quarter ended June 30, 2009 was $(0.
They provide Accounts Receivable Management ("ARM"), Disproportionate Share Hospital payment processing ("DSH") and Crossover Bad Debt Recovery
Services (Medi-Medi) for over 300 hospitals and provider groups, including many of the largest and most prestigious organizations in the United States.
Established in 2002 and headquartered in suburban Chicago, RCS partners with over 100 hospitals across the country and provides a wide range of account resolution services, including early out self-pay, third-party insurance and bad debt recovery
4 million related to an unanticipated bad debt recovery
AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2004 2003 REVENUES $ 12,157 $ 6,653 OPERATING COSTS AND EXPENSES: Direct operating expenses 7,775 5,825 Selling and administrative expenses 2,254 2,046 Bad debt recovery
- net (963) - Interest expense (income) - net 1 (9) Total 9,067 7,862 INCOME (LOSS) BEFORE PROVISION FOR (BENEFIT FROM) INCOME TAXES 3,090 (1,209) PROVISION FOR (BENEFIT FROM) INCOME TAXES 1,010 (96) NET INCOME (LOSS) $ 2,080 $ (1,113) BASIC INCOME (LOSS) PER SHARE $ .
7 million benefit related to a bad debt recovery
and a $4.
Albrecht noted that RMA's suite of healthcare offerings include: * pre-registration services * account billing and follow-up (accounts paid by insurance or private pay) * insurance follow-up, specialized in managed care and worker's compensation * Bad debt recovery
(collection of early-out, primary and secondary delinquencies); and * IOU, a program capable of recovering debt from charged-off accounts that are up to six years old.
During the year earlier nine-month period, the Company benefited from bad debt recovery
of $544,000 and a one time benefit of $398,000 in recovery of inventory reserves.
Lastly, in the second quarter 1999, the Company benefited from a $150,000 bad debt recovery
; the Company did not have any bad debt recovery
in the second quarter 2000.
NASDAQ: HMSY), today announced an agreement with Parkview Health (Parkview) to provide Medicare Bad Debt Recovery
services to Parkview's acute care hospitals: Parkview Hospital, Parkview Noble Hospital, Parkview Whitley Hospital, and Parkview Huntington Hospital.
the not-for-profit corporation that manages the hospitals and clinics of the Medical College of Georgia in Augusta, to provide Medicare Bad Debt Recovery
and Disproportionate Share Claiming reimbursement services.