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PRESS RELEASE

Source: Wakefield & Associates

Wakefield & Associates Acquires Choice Recovery to Expand its Geographic Footprint


Aurora, CO, October 20, 2022

Wakefield & Associates, an industry-leading collections and healthcare revenue cycle solutions company, today announces it has acquired the debt collection business of Choice Recovery, Inc., an Ohio-based nationally recognized collections provider. The acquisition of Choice Recovery will further grow Wakefield's geographical presence in the Great Lakes region and enhance its ability to provide a full suite of revenue cycle management services to a wide scope of healthcare industry clients.

As part of this strategic acquisition, Choice Recovery will add more than 90 employees, further expand Wakefield's operations and bolster the company's expertise and capabilities within the healthcare financial services segment and other ancillary verticals.

"The Choice Recovery team is highly skilled and talented, making them a great addition to our growing Wakefield family," stated Matt Laws, President and CEO of Wakefield. "With our business experiencing record growth, the acquisition boosts our ability to rapidly expand our team to meet the growing demands of existing and new clients as we continue to offer best-in-class revenue cycle solutions to healthcare providers across the country at speed and scale."

Wakefield entered the deal now because it has been searching for growth opportunities in priority markets across the country, and Choice Recovery stood out as an appealing acquisition with a like-minded business focused on a consumer-centric collection approach and deep relationships with key healthcare provider partners.

"We determined that this is a compelling transaction for all of Wakefield's stakeholders and a smart strategic move considering today's rapidly changing competitive landscape," Laws said. "Given accelerated industry consolidation, bringing Wakefield and Choice Recovery together provides beneficial scale for our clients."


Source: Wakefield & Associates

Joseph Partain Joins Healthcare Revenue Cycle Leader Wakefield & Associates to deliver attorney-driven complex claims resolution


Aurora, CO, September 16, 2022

Wakefield & Associates, one of the largest healthcare revenue cycle solutions companies in the nation, announced today that industry veteran Joseph Partain has joined the organization in an executive role to provide attorney-driven complex claims solutions to healthcare providers nationwide.

"As one of the leading revenue cycle solutions companies in the nation, Wakefield & Associates makes vital contributions to the financial health of medical providers through innovative and proven Revenue Cycle Management (RCM) solutions," said Matt Laws, CEO of Wakefield. "Joe adds 30 years of legal and revenue cycle operational expertise to Wakefield's array of service lines and is known in the industry as a well-regarded, versatile and strategic leader, with a history of success leading results-oriented legal operations."

Prior to joining Wakefield & Associates, Partain served as the long-standing SVP of Legal RCM Operations & General Counsel/Chief HIPAA Compliance Officer & Corporate Secretary (Chief Legal Officer) at ACT Holdings, Inc. (the parent company for the ACT, Inc. and the Convergent companies, including Convergent Revenue Cycle Management, Inc).

"I am excited to be joining Wakefield & Associates and its leadership team. I really look forward to taking on this role and building upon the successes and growth that the company is already experiencing. I am anxious to contribute to future accomplishments to the benefit of Wakefield's employees, stakeholders and clients," Partain said.


Source: Wakefield & Associates

Collect Rx Joins Healthcare Revenue Cycle Leader Wakefield & Associates to deliver Out-of-Network Solutions.


Aurora, CO, August 04, 2022

Wakefield & Associates, a leading healthcare revenue cycle solutions company, announced today that Collect Rx has joined the Wakefield organization. Together, the two companies will leverage combined capabilities to provide a full spectrum of revenue cycle solutions, including Out-of- Network Claims resolution to healthcare providers across the country.

Founded in 2006, Collect Rx provides a tech-enabled Out-of-Network (OON) payment integrity solution platform, assisting customers with appeals and negotiations. Combining complex claims, medical account resolution expertise, collaborative customer services, and proprietary databases, Collect Rx serves over 5,400 healthcare companies across the country.

“Collect Rx is thrilled to bring its market leading and provider-centric claim resolution services into the Wakefield & Associates family”, said Ike Brenner, President of Collect Rx. “Our customers and partners will be the biggest beneficiaries of this highly synergistic combination. Together, we bring to market an exceptionally comprehensive RCM solution set.”

As one of the leading revenue cycle solutions companies in the nation, Wakefield & Associates makes vital contributions to the financial health of medical providers through innovative and proven Revenue Cycle Management (RCM) solutions.

“With its depth of expertise and being a pioneering industry leader of complex Out-of-Network claims, Collect Rx allows Wakefield & Associates to expand our service offerings”, said Matt Laws, CEO of Wakefield. “Going forward, we will be able to deliver a full suite of RCM services to the thousands of healthcare service providers with whom we partner.”

About Wakefield

Established in 1933, Wakefield & Associates specializes in Revenue Cycle Management Solutions, which includes System Conversions, Call Center Partnerships, Insurance Billing, Process & System Workflow Design, Eligibility Assistance Programs, Primary & Secondary Bad Debt Collections, Legal Solutions, and working with Debt Purchasing providers. Wakefield & Associates has and continues to make significant investments in people, processes, and technologies that allow us to develop and implement quality solutions that accelerate cash flow and A/R liquidation. Wakefield & Associates has developed effective recovery techniques and partnership collaborations that result in a positive patient experience.


Receivables Management


At Wakefield & Associates, our clients choose us because of our success at creating partnerships that work. Since our founding in 1946, our goal has been to understand our client’s needs and design an approach around those needs, an approach whose goal is to satisfy those needs to the best of our ability.

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Insurance Follow Up & Early Out Programs


Wakefield & Associates has established itself as a leading provider of accounts receivable management and delinquent account recovery in the healthcare arena. Our business foundation is built on a partnership philosophy which ensures each client receives world class service from our organization and its staff.
Our partnership philosophy has resulted in a solid reputation for tenured business partnerships that benefit clients across the country by providing improved cash flow, profitability and consistent business results.


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Client Services


We deliver effortless partnerships by design. This means we are totally focused on what matters to you, and your needs. This starts up front, with our efforts to learn your preferred policies, necessary support functions, and competitive benchmarks.

With the arrival of a new client, senior management and key personnel meet to review details that pertain to your profile. Items reviewed include your network requirements, preferences and campaign needs.


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Technology


Wakefield & Associates has the proven technology needed to maximize recoveries for all types of creditors. In fact, our use of technology to support operations is what sets us apart from the rest of the industry.

We offer you a robust platform so that you gain the benefits of what we have built over the years—a machine that efficiently recovers delinquent accounts and reports your account data back to you when you need it, in the format you prefer.

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