I recently spoke with Ed Katz, SVP Healthcare Solutions, about the acquisition of LASON by HOV Services and the positive impact it had on the HOV Services healthcare business.
HOV Services is among the top-tier business process outsourcing firms, of which I would also include Accenture and IBM. All three of these players have a strong presence in the healthcare industry.
In conversation with Ed, I learned that the new HOV Healthcare Advantage solution builds on the core revenue cycle management (RCM) offering that was developed and refined by the former LASON group. The biggest impact of the new offering was the addition of expanded capabilities in the area of accounts receivable collections. Whereas the legacy RCM solution identified where collections efforts were needed, it fell short in terms of providing the services to pursue those dollars. This former weakness has now become a notable strength for HOV Services, particularly in the areas of first-party and third-party collections, as well as debt acquisition. Building off of its claims lifecycle BPO and KPO expertise, this new venture is a natural extension of its revenue cycle management services. This is a strong play for HOV Services, because they have become more of a one-stop-shop for collections services.