FRANKLIN, TN — Medical Reimbursement of America (“MRA”) announced today that it has appointed S. Mark Talley as its new CEO. Headquartered in Franklin, TN, MRA is a recognized leader in the rapidly growing field of specialty reimbursement services for hospital revenue cycle departments. MRA leverages proprietary technology to help hospitals and health systems resolve complex motor vehicle and workers’ compensation accident claims.
MRA received an investment from Riverside Partners (“Riverside”), a Boston-based private equity firm, earlier this year as part of a long term strategic plan designed to accelerate growth. Julie Klapstein, a member of Riverside’s Healthcare Advisory Board has been leading the Company on an interim basis while the Company searched for a permanent CEO. Klapstein will continue in her role as a Board member of MRA and its sister company, Bottom Line Systems, which is a leading provider of underpayment and denial recovery services.
“We are delighted to announce the appointment of Mark as the Company’s new CEO,” said Max Osofsky, Chairman of the Board and General Partner at Riverside Partners. “Mark brings 30 years of experience in the healthcare revenue cycle sector. He has deep operational experience and a proven track record of building successful organizations. Most of all, he possesses excellent leadership skills as well as a strong commitment to serving customers that is highly consistent with the values of MRA.”
“The mission of MRA — to help hospitals enhance billing compliance and improve financial performance — is critical in this difficult environment,” said Talley. “By identifying and collecting previously un-identified sources of revenue, MRA helps hospital clients generate significant bottom line improvements. The people I have met at MRA are all very passionate about this mission and committed to delivering high value to customers. I look forward to joining them and continuing to find new opportunities to help our customers and build MRA.”
Prior to joining MRA, Talley served as President and Chief Operating Officer of Zotec MMP, a physician revenue cycle management company. MMP was acquired by Zotec Partners in September of 2013. Prior to the acquisition of MMP by Zotec Partners, Mark was one of the original founders of MMP and MMP operated as CBIZ MMP from October of 1998 until the acquisition of MMP from CBIZ (CBZ on the NYSE) by Zotec Partners. Mark began his career in the business of healthcare as a certified coder.
About MRA
Medical Reimbursements of America (MRA) provides specialty reimbursement solutions that identify and recover additional revenue for hospitals and health systems nationwide. MRA’s Peer Reviewed by HFMA® solutions are the result of nearly 19 years of focus on specialty reimbursement niches, particularly accident-related medical claims. MRA’s proprietary technology platform enables an expert team of 250+ specialists to manage coordination of benefits and the related billing process, delivering improved financial performance, increased patient satisfaction, and enhanced billing compliance to leading health systems nationwide. MRA’s AcciClaim™ solution, led by the industry’s leading team of specialized attorneys, revenue cycle experts and account resolution specialists, delivers improved revenue, increased patient satisfaction, and enhanced billing compliance from complex claims related to motor vehicle accidents and workers’ compensation injuries. Founded in 1999 and based in Franklin, Tennessee, MRA proudly serves as a definitive source for specialty reimbursement services for more than 500 hospitals and health systems nationwide. For more information, please visit www.mraresults.com
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing out of its fifth fund. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages about $850 million of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.
Riverside Partners Contact:
Max Osofsky
General Partner
617-351-2815