The leadership of Hollis Cobb Associates is pleased to announce the acquisition of Gragil Associates, Inc. and Audit Billing Center, Inc. (ABC). A leading healthcare receivables recovery firm located in the Boston area, Gragil and ABC have been serving providers in the Northeastern U.S. since 1968 specializing in both third party and first party recoveries.
Gragil is an excellent fit for Hollis Cobb as the team provides solutions to healthcare facilities at all stages of the revenue cycle with a dedication to working closely with clients to reduce receivables while increasing cash and minimizing expenses. The Gragil staff understands the unique nature of healthcare receivables as well as the importance of patient satisfaction, and constantly looks for innovative solutions to meet new client challenges and improve workflows.
“Gragil Associates’ number one priority is to maintain the goodwill and integrity of their clients while obtaining outstanding results at all levels of the revenue cycle,” said Hollis Cobb CEO, Greg Hocutt, adding that “this transaction aligns very well with the foundational culture of the Hollis Cobb organization.”
Like Hollis Cobb, the Gragil team provides services in Earlyout and Bad Debt Collections, Third Party Billing and Follow-up and Staffing. Hollis Cobb has significantly expanded service offerings on the front end to include Pre-Authorization, Pre-Certification, Pre-Registration, Customer Service and Scheduling. A great portion of Hollis Cobb’s explosive growth has been fueled by the expansion of front end services for clients across the U.S. Hollis Cobb most recently developed two software applications to streamline the financial assistance application and pre-authorization processes, and these are currently being rolled out to healthcare providers.
The acquisition of Gragil and ABC strengthens Hollis Cobb’s presence in the northeastern U.S. “The combination of the organizations allows Hollis Cobb’s substantial resources to accrue to the benefit of Gragil’s clients,” said Hollis Cobb CFO, Ken Rubin. With over 500 employees now, Hollis Cobb has grown staff by 25% since the beginning of the year to meet our clients growing needs in all areas of the revenue cycle.
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