W Squared Honored by Inc. Magazine’s Hire Power Awards for Tennessee Job Creation Over the Past Three Years

Brentwood, Tenn.-based W Squared is featured in the inaugural ranking of Inc.’s Hire Power Awards, recognizing the private businesses that have generated the most jobs in the past three years.

W Squared generated 64 jobs in the three-year period from the end of 2008 to 2011, placing it among the top 10 private business job creators within the state of Tennessee. The company, which provides business process outsourcing solutions including finance and accounting, technology, human resources and payroll, and healthcare implementation, was number 5 on the statewide list.  Earlier this year, W Squared was named to the Inc. 500|5000, Inc. Magazine’s annual list of America’s fastest-growing companies.

“We are thrilled to be recognized by Inc. Magazine and to become part of this enterprising group of job generators,” says Shannon Farrington, W Squared President and CEO. “As pleased as we are of our fast-growth, we are every bit as proud to be bringing jobs to Middle Tennessee during a time when the state and country needs them.  We plan to continue to grow and add jobs.”

“Since day one, our employees have worked tirelessly, making the growth and success of W Squared possible,” Farrington adds. “This recognition validates their hard work and diligence.”

Inc. is the only major business media brand aimed solely at CEOs of fast-growing private companies. The Hire Power Awards will appear in Inc.’s December/January issue, as well as the brand’s web site, www.inc.com.

“The top 100 companies on the list have created 73,032 American jobs in the three-year period from 2008 to 2011 – an amazing feat, given that much of that job growth came during the heart of the recession,” explains Inc. editor-in-chief Eric Schurenberg. “And it isn’t just the big guys that are adding jobs. Companies with less than $50 million in annual revenue make up nearly one-third of the Hire Power list.”

The inaugural Inc. Hire Power Awards are sponsored by Bank of America Merrill Lynch, which is proud to recognize American companies that have greatly increased their workforces. Inc.’s Hire Power Awards celebrate private companies on the forefront of American job creation, giving these businesses the recognition they deserve.

About W Squared
W Squared provides business process outsourcing solutions including finance and accounting, technology, human resources and payroll, and healthcare implementation. Integrated as a comprehensive suite of services, W Squared offers an affordable solution for companies that desire a more sophisticated corporate back office support system that will scale alongside the expansion of their operations. W Squared enables its clients to focus on their core competencies while offering the administrative systems, personnel and processes that enhance the client’s potential for future success. A step beyond traditional business process outsourcing, W Squared provides not only process expertise, but also business expertise creating a business process partner relationship with its clients. For more information, visit http://www.wsquared.com.

About Inc.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders.  Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today.  For more information, visit www.inc.com. 

About Bank of America Merrill Lynch
Bank of America Merrill Lynch is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,250 ATMs and award-winning online banking with 30 million active users. Bank of America Merrill Lynch is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America Merrill Lynch offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services.

PatientFocus, Formerly Known as PatientCredit, Announces Name Change and New Corporate Offices

Medical billing company PatientCredit has changed its name to PatientFocus, to better reflect its mission of “putting the patient first” and its exclusive focus on patient-pay. PatientFocus has tripled clients in 2012 and now serves more than 50 client sites in seven states. To respond to its rapidly growing client base, the company’s employee roster has grown three-fold, and the company has moved to new office space in downtown Nashville, doubling its square footage.

Serving as an outsourced extension of the health care billing office, PatientFocus provides full-service patient-pay account management (payments due after insurance and before bad debt) to hospitals, physician groups and other providers. PatientFocus offers every patient flexible, interest-free payment options without a credit check, and manages all patient communications: statements, inbound/outbound telephone follow-up and online payment options. Current clients include leading national healthcare corporations Anesthesia Medical Group, e+CancerCare and Optimal Radiology.

High-deductible health plans, higher co-pays, and coinsurance are the new normal, and most providers must now collect a greater percentage of revenue from patients (vs. relying solely on insurance). This trend shows no sign of slowing. Patient balances typically comprise 20 percent of the total bill, yet can be five times as difficult to manage and collect, creating a paradox of value for the billing office. This is where PatientFocus comes in.

“Healthcare providers appreciate PatientFocus because we bring the capacity and focus necessary to maximize the value of patient-pay receivables while freeing up time for the billing office to focus on larger insurance claims. Patients also appreciate the PatientFocus approach, which always features outreach from a financial counselor sympathetic to their concerns, knowledgeable about their bills, and willing to be flexible with payment plans that fit within their means,” explained David E. Frederiksen, PatientFocus founder and CEO.

PatientFocus alleviates the burden of managing patient-pay from the billing office, and provides a simple platform that not only answers patient questions in a way that reduces stress and confusion, but also increases patient satisfaction and enhances patient-pay revenues. The platform works seamlessly with any billing or EHR system.

“When PatientFocus handles all patient statements and communications, providers still maintain control of patient accounts but reduce the workload for the business office,” continued Frederiksen.

Leveraging technology to reach patients via text, email and post, patient outreach begins with client-branded statements that offer payment options in a clear and concise way and direct patients to a payment portal. Patients can select payment plans online via their smartphone or computer, and can always pay over time, interest-free, in any way they choose, including check, credit card, bank draft, Health Savings Account, and even PayPal.

Patients can also contact PatientFocus’ multi-lingual financial counselors via phone, text or online with any questions. Working directly from PatientFocus’ downtown headquarters, every counselor has insurance billing experience and is specially trained to treat patients with respect and understanding.

Funded with $1 million from veteran healthcare investors, PatientFocus is profitable, with the company’s revenues tripling since the beginning of 2012. Frederiksen launched the company in 2010 with Evan Austill, PatientFocus COO, fellow Vanderbilt University MBA graduate and co-founder.

The PatientFocus board comprises well-known healthcare executives and medical experts, including: Jim Lackey, founder and former CEO of Passport Health Communications and current CEO of EnableComp; Luke Simons, former managing partner of J.C. Bradford & Co.; and Dr. Rand Frederiksen, a cardiologist with more than 40 years of experience as a health care provider and managing partner for his physician practice group.

About PatientFocus
Located in Nashville, PatientFocus is a medical billing company focused exclusively on self-pay and patient-pay accounts after insurance and before bad debt collections. PatientFocus functions as an outsourced extension of its clients’ billing office, providing every patient flexible, interest-free payment options without a credit check. PatientFocus manages 100 percent of patient communications, including statements, inbound and outbound telephone follow-up, and online payment options. Online: www.patientfocus.com