Revenue Cycle Management

Revenue cycle management (RCM) is a relatively young industry within the outsourced business services sector.  It first came into existence in the mid to late 1980’s when large IT management companies began to deploy new systems designed to help clients more effectively manage their transaction processing, billing and receivables management needs. RCM established a name for itself in the healthcare market, whose constituents were only too eager to obtain IT solutions that would reduce their costs and streamline their operations without hurting their relationships with patients. Over the next 20 years the RCM industry slowly gained recognition and traction within the healthcare market as hospital systems and physician groups became more comfortable outsourcing their IT and related service needs. It also benefited from another important demographic trend – as the U.S. population became older, the need for effective healthcare solutions became greater.

While the IT management portion of the RCM industry became firmly established in the 1990s and 2000s, during this time there was also a growing need for specialty services that augmented the capabilities of the IT systems. Contrary to the beliefs of many IT providers and healthcare CFOs, certain functions still needed the involvement of experienced people – patient eligibility (Medicare, Medicaid, etc), billing, denial claims, etc., which were eventually outsourced to companies who specialized in those services.  

As a result, during the mid to late 2000s the RCM market experienced a significant increase in merger and acquisition activity as well as initial and secondary public offerings, driven by investors and strategic buyers eager to buy their way into this fast growing market. In addition, large IT management companies began to acquire specialty RCM servicing companies to expand their client base and service offerings, and create more stickiness with their client relationships. Certain RCM companies have also expanded their servicing capabilities into the healthcare collections market to create an end-to-end RCM solution for healthcare clients. This vertical integration of services has also prompted many healthcare accounts receivable management companies to move up into the RCM industry.  

The healthcare RCM industry continues to grow and attract interest from financial and strategic buyers. Kaulkin Ginsberg has worked with many RCM and healthcare receivables management companies over the years, serving as an advisor to board-level executives and helping them determine how best to grow and exit their businesses. We understand the history of the RCM industry, continue to garner expertise within it, and have the foresight to know where the industry is heading. We are excited about the potential within the RCM industry and look forward to working with owners and executives who are committed to achieving their growth and exit objectives.

MHS - Kadent

Mutual Hospital Services, a not-for-profit healthcare collection agency, was sold to Kadent Corporation (formerly ARM Holdings, Inc.).


ARC Group Associates, a healthcare revenue cycle management company in Pennsylvania, was acquired by Receivables Outsourcing, Inc. (ROI), an ARM company based in Maryland.

 Kaulkin Ginsberg is pleased to announce the acquisition of Patient Financial Services, Inc. and Absolute Collection Service, Incorporated (collectively, “ACS”) by Optimum Outcomes, a leading provider of account resolution services to hospitals ...






Podcast: What the ED Contract Delay Means for ARM

October 24, 2016

The wait for the U.S. Department of Education's unrestricted contract drags on. Kaulkin Ginsberg speculated in a recent blog that ED would make awards at the end of their fiscal year on September 30th, but that day came and went without any updates. However, just last week ED announced they now intend to grant contracts by the end of calendar year 2016, ext ....
» see this post    » all posts

Private Equity Buyers and Investors: An alternative exit strategy

October 19, 2016

Selling a business is typically considered an owner's ultimate exit strategy. However, there are a number of factors that need to be considered before taking this step, and perhaps the most important - money aside - is the effect a sale will have on your lifestyle. Although playing golf every ....
» see this post    » all posts

Podcast: The U.S. Dept. of Treasury Contract

October 13, 2016

At midnight on Thursday, October 13, proposals are due from collection agencies for the milestone U.S. Department of Treasury contract to collect non-tax debt. Mike Ginsberg conducted an informative discussion with federal contract expert Randy Kamm about the significance of this contract, the potential for new business in the ARM industry, and what participants should expect from this procurement process. This podcast is a product of KG Prime, Kaulkin Gins ....
» see this post    » all posts


NARCA 2016 Fall Conference

The Cosmopolitan
Las Vegas, NV
October 26th-29th, 2016

NARCA conferences provide a forum to attend cutting-edge educational sessions, earn CLE credits, attend client meetings, and network with professionals from creditors rights law firms, clients and credit grantors, buyers and sellers of consumer debt, and vendors of innovative products and services. NARCA conferences generally attract more ....

» see more

DBA International's 20th Annual Conference

ARIA Resort and Casino
Las Vegas, NV
February 7th-9th, 2017

The premier industry event celebrates its 20th anniversary! DBA International is in full gear making preparations for its 20th Annual Conference. It's one of the most well-attended events in the industry, attracting more than 1,100 participants. The event provides abundant ....

» see more

Collection and Recovery Solutions 2017

Four Seasons Hotel
Las Vegas, NV
May 10th-12th, 2017

This content rich educational conference gives the techniques, strategies and resources for maximizing collection and recovery outcomes. Our goal is to enrich the intensity of the conference for the exhibitor, attendee and sponsor alike with an unparalleled learning experience. This is an exclusive gathering ....

» see more