TIGroup Announces Formation of First Physicians Business Solutions
BEVERLY HILLS, Calif. -- Tri-Isthmus Group, Inc. (TIGroup) (Pink Sheets: TISG) a provider of financial solutions to the healthcare industry, announced today the formation of First Physicians Business Solutions, LLC, a wholly-owned subsidiary formed to provide world-class integrated business solutions to rural hospitals and physician practices.
Targeting rural healthcare markets, First Physicians Business Solutions will deliver a full menu of administrative, accounting and business office functions to TIGroup's operating hospitals and physician practices and to third-party clients. These services will include accounting, reporting, revenue cycle management (billing, collections, coding and transcription), supply chain management, reimbursement and cost reporting, compliance, records management and IT and infrastructure services.
This new group will initially contain close to 75 professionals and be led by a senior member of the TIGroup/RHA management team.
TIGroup Chairman and CEO David Hirschhorn said, “As we developed our operating platform in non-urban markets, it became clear to us that healthcare facilities and physician practices located in these markets typically could not afford to invest in information technology because they are often sub-scale. The advent of new distributed technology delivery models permitting users to "pay per click" enables smaller operating units to gain access to the same "best of breed" services as larger hospital groups. First Physicians Business Solutions will deliver these services on an integrated basis to TIGroup's own hospitals and physician practices and to third-party clients operating in non-urban settings."
Hirschhorn added "Even more exciting for us, is that this re-alignment of our assets and operations has the potential to unlock approximately $3 million to $4 million in annual operating costs and related savings in our new fiscal year which began October 1, 2008."
For questions regarding First Physicians Business Solutions LLC, please contact: TIGroup Chairman-CEO David Hirschhorn at (310) 860-2501 or email firstname.lastname@example.org
About Tri-Isthmus Group, Inc.
Tri-Isthmus Group, Inc. (TIGroup) acquires and provides financial, operational and technological services to healthcare facilities primarily located in rural markets. The company promotes quality medical care by offering improved access and breadth of services. TIGroup unlocks the value of its investments by developing strong, long-term and mutually beneficial relationships with their physicians and the communities they serve. The company operates numerous medical facilities and employs over 350 people in Oklahoma and California. The company is building a portfolio of interests in ambulatory surgical centers, rural hospitals, surgical hospitals and other centers operating in partnership with physicians. TIGroup’s wholly owned subsidiary TIG Financial Solutions LLC provides insurance services for physicians and patients. For more information, visit www.tig3.com.
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