PRLog - Feb. 19, 2014 - Today, TriCap Technology Group, LLC announced the launch of its Accounts Receivables Clearinghouse Exchange (ARxChange) in Georgia, in partnership with the Georgia Hospital Health Services, Inc. (GHHS), a subsidiary of the Georgia Hospital Association (GHA).
As highlighted in Forbes, Inside Patient Finance and HFMA, the ARxChange organizes receivables in a central repository, corrects inaccurate demographic information, scores each account, and then allows hospitals to redeem or “clear” all or selected receivables for their current cash value, all under compliant and safeguarded servicing terms. In doing so, the system transforms outmoded accounts receivables collections processes and strengthens the financial performance of hospitals and health systems.
“Given today’s dynamic healthcare environment, we believe it’s essential to offer new and innovative options like ARxChange to bolster our hospitals’ financial pictures by improving their cash flow and working capital positions,” said Earl Rogers, President and CEO of the Georgia Hospital Association.
“Offering Georgia hospitals more precise receivables management and guaranteed performance options reflects GHA’s commitment to innovation, excellence and moreover, its market leadership, said TriCap’s President Jim Zadoorian, Ph.D.
Global data leaders such as Experian Healthcare power the precision analytics offered by the ARxChange. “By feeding our extensive consumer and business information assets into the ARxChange system, it delivers competitive performance advantages and actionable insights to better manage risk, protect revenue streams and drive net returns,” according to Dan Buell, General Manager, Experian Healthcare.
“It is this precision that provides the capital markets with confidence to underwrite receivables at their defined and guaranteed ARxChange values,” said Matthew Maloney, Chief Investment Officer, First Financial Asset Management.
GHHS will be holding a series of regional orientations for Georgia hospitals and health systems to share more specifics about the ARxChange and how this approach to receivables management can impact the financial strength of their facilities.
About TriCap Technology Group, LLC
TriCap Technology Group, LLC is a high-growth financial technology company founded in late 2005 to transform the US debt and receivables sector into a more fully articulated liquid market place. With over $10 billion in listings, TriCap's keystone and patented platform, ARxChange is the nation's largest and most robust marketplace for medical debt and receivables in the US. TriCap holds the patents and intellectual property rights on the most essential processes used throughout the US receivables and debt markets to organize, rank, score, value and trade accounts, including health care.
About GHA
The Georgia Hospital Association is a nonprofit trade association made up of member health systems, hospitals and individuals in administrative and decision-making positions within those institutions. Founded in 1929, GHA serves 170 hospitals in Georgia. Its purpose is to promote the health and welfare of the public through the development of better hospital care for all of Georgia's citizens.
About GHHS
Georgia Hospital Health Services, Inc. is a wholly owned subsidiary of the Georgia Hospital Association. GHHS was founded in 1989 for the purpose of partnering with companies to provide products and services at a discounted rate and/or with added benefits to member institutions.
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TriCap Technology Group Launches Accounts Receivables Clearinghouse Exchange (ARxChange) Throughout Georgia
February 19, 2014 at 16:14 PM EST
