Yankee Alliance expands receivables management through partnership with Nationwide Credit

Business Wire, May 7, 1996

ANDOVER, Mass.--(BUSINESS WIRE)--May 7, 1996--Creating a business alliance rarely found in the healthcare industry, Yankee Alliance and Nationwide Credit Inc. have joined forces to expand receivables management services to health care providers in New England and eastern New York.

Since 1989, Yankee Alliance has managed two collections companies providing debt resolution services for healthcare providers. Alliance Collections Inc. is a cooperative serving the hospitals that are Yankee Alliance members or affiliates. Currently, the private, not-for-profit association has nine member hospitals and eleven affiliated providers. Northeast Alliance Collections Inc. serves physician practices.

Nationwide Credit Inc., a First Data Inc. company based in Atlanta, GA, is the world's largest debt management services company. "In light of the complexities of healthcare billing and third-party payor mechanisms, patients need special consideration when dealing with the financial side of care," says Paul O'Neill, president and CEO of Yankee Alliance. "Through Alliance Collections Inc. and Northeast Alliance Collections Inc., we have brought patient-focused debt management to the region.

"Our business partnership with Nationwide Credit Inc. expands the range of services we can offer. The Nationwide healthcare management team comes from the healthcare industry and shares our vision of assisting the provider to maintain financial viability while respecting the patient. We see this partnership as leading-edged and essential to our strategic plan for services to our members, affiliates and clients."

Bob Goodyear, Nationwide Credit's senior vice president for health care, called the partnership "a unique opportunity for developing new and significant programs in cooperation with one of the nation's most respected collaborations of healthcare providers.

"Nationwide has the most advanced combination of technology and expertise available today. By bringing the vision of Yankee Alliance together with the know-how of Nationwide, both providers and patients will benefit at a time when they are struggling with the challenge of how to insure quality care in 2000 and beyond."

The business partnership will be known as YANCI and will be based in Andover, MA the current operating location of Alliance Collections Inc. and Northeast Alliance Collections Inc.

Yankee Alliance members include: Albany Memorial Hospital, Albany, NY; Berkshire Health Systems, Pittsfield, MA; Charlton Memorial Hospital, Fall River, MA; Glens Falls Hospital, Glens Falls, NY; New England Baptist Hospital, Boston, MA; New England Deaconess Hospital, Boston, MA; Saints Memorial Medical Center, Lowell, MA; Saint Raphael Healthcare System, New Haven, CT; Winchester Healthcare Management Inc., Winchester, MA.

CONTACT: John J. DiGiorgio

Yankee Alliance

(508) 470-2000

or

Bob Goodyear

Nationwide Credit

(770) 916-4300