Phoenix, AZ, January, 2011 – Adreima (formerly known as Advanced Reimbursement Management), a leading advocate for hospitals nationwide in revenue cycle services with a focus on Medicaid, today announced it has appointed highly-regarded healthcare executive Ken Howell as Chief Operating Officer (COO). Howell brings nearly 25 years of healthcare management experience to Adreima, with the most recent decade spent in hospital chief executive officer and regional vice president roles.
Joining the company during a period of rapid growth both organically and through acquisition, Howell will assume responsibility for Adreima’s operational leadership. In particular, Mr. Howell will focus on facilitating ongoing national expansion efforts, improving upon the high levels of service and expertise provided to Adreima’s client hospitals, and streamlining the company’s post-acquisition integration processes.
“Ken’s proven track record serves as a great advantage for Adreima as we continue to expand the company through both organic and acquisition-based growth,” said Adreima Chief Executive Officer Connie Perez. “He gives Adreima an insider’s point-of-view into the hospital executive’s mindset and brings a deep institutional understanding about what our clients need most as they employ our Medicaid-focused revenue cycle management products and services to help achieve their goals.”
Howell comes to Adreima from healthcare leader Vanguard Health Systems, where he was the CEO of Phoenix Baptist Hospital. In just two years under Howell’s leadership, the 231-bed teaching hospital underwent a major operational and financial turnaround. Howell spearheaded the development of a new leadership team, led the successful acquisition of an additional campus, revised the hospital’s strategic plan and re-engaged medical staff, earning him the Vanguard Health System People Pillar Award and the Healthstream Excellence Award for Medical Staff Satisfaction.
Howell’s experience also includes CEO and regional vice president positions with Hospital Partners of America, the Medcath Corporation, and Healthsouth Corporation. While with these organizations, Howell was primarily responsible for operational oversight, hospital acquisitions, hospital growth and financial performance turn-around strategies, and leadership development.
“I am proud to join a company that offers healthcare providers such critically-needed Medicaid advocacy and revenue cycle management solutions,” said Howell. “I am enthusiastic about helping Adreima expand to become a nationwide organization, maintaining the company’s high standards of delivering extraordinary results for its clients through their shared vision and collaborative culture.”
Adreima advocates for hospitals nationwide, providing eligibility and revenue cycle management services supported by a deep knowledge of state-specific issues and unparalleled in-house expertise. Adreima improves financial performance for, and builds long-term trusting partnerships with, more than 70 hospital clients in 10 states. In addition to eligibility services, Adreima handles complex clinical reimbursement issues, manages wrongful denials of benefits or payments and recovers incremental post-payment revenue. Adreima was acquired by Waud Capital Partners in August 2008.
For additional information on Adreima, visit the Company’s website at www.adreima.com.
About Waud Capital Partners
WCP is a leading middle market private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle market growth equity investments, industry consolidations, buyouts and recapitalizations. The firm seeks to invest $10 million to $100 million in private companies in the following four areas: healthcare services, business and consumer services, specialty distribution and value-added industrial businesses. Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million.
For additional information on WCP, visit the firm’s website at www.waudcapital.com.
For Further Information:
David Neighbours, Partner
Waud Capital Partners
Connie Perez, Chief Executive Officer
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