PREMIER BPO, INC. AND JT HEALTHCARE SERVICES, LLC ANNOUNCE JV

Premier BPO, Inc. today has announced that they have entered into an agreement with JT Healthcare Services, LLC for the purposes of establishing a Chinese based Joint Venture to provide back office billing and data management services. This Joint Venture is expected to support JT Healthcare Services, LLC’s planned revenue cycle management business in service to U.S. Hospitals.

Premier BPO, Inc. is a Business Process Outsource (BPO) organization specializing in lowering the cost and improving the quality of a client’s back office operations. Premier was founded by an industry savvy team of Senior executives, with over 125 years direct combined experience in the outsourcing and off shoring industry. Premier BPO, Inc.’s CEO, Mark Briggs, leads a team of professionals which have implemented hundreds of programs, covering thousands of highly educated, deeply skilled agents, in multiple countries across the globe.

Premier has created a strategic relationship with the Chinese government to provide training and facility cost deferrals, in exchange for new job creation. China is quickly becoming a strategic BPO destination of choice, predicted to outgrow India and other off shore geographies by the end of this decade. Premier BPO has built a “center of excellence” specifically dedicated to Medical Billing in Kunshan, China. Kunshan is approximately 45 Kilometers from Shanghai, and has access to extremely large, highly educated work force. Kunshan is located in the Jiangsu Province which has 115 Colleges and Universities supplying hundreds of thousand of English literate graduates on an annual basis.

The partnership created by Premier and JT Healthcare Services will provide end-to-end revenue cycle outsourcing (RCO) services to hospitals and their physician groups using a proprietary service platform that leverages scale, specialization and technology to optimize cash flow while driven by proven cost savings and scale advantages generated by consolidating all leverage able functions enabling their staff to be more productive using automated workflow and best practices that streamline, standardize and integrate the functions and services provided to their clients.

JT Healthcare Services, LLC is positioned to be a leading provider of full RCO services to healthcare providers through aggressive organic and acquisitive growth. Their founding management team consists of seasoned executives that pioneered the industry and built successful RCO businesses with integrated technology offerings. Through this joint venture with Premier BPO, JT Healthcare will leverage a BPO model using scale and automation to elevate service levels while lowering costs and increasing profit margins in this $50 billion revenue cycle processing market. JT Healthcare believes that this market has huge, untapped scale opportunities and RCO is the path to capturing them because no healthcare provider alone has the required minimum scale.

Most revenue cycle processing is still performed in-house at hospitals with inefficient and sub-scale back-office operations. These operations lack adequate resources such as technology and personnel, largely due to the limited competency and lower priority to the clinical operations of medical providers. The complexity and cost of this processing has exploded over the last two decades due to continually changing payer policy and governmental regulation. The subsequent result in hospitals has been losses of up to 5% of their net revenue in write-offs and underpayments and expenditures of 3 to 5% of their net revenue billing and collecting payments. Hospital CFOs are increasingly frustrated and motivated to improve these operations but lack the capital to do so, particularly with the recent decline in their endowments. The demands of the healthcare payment environment have outgrown the capacity and capability of provider business offices and will continue to increase, and possibly accelerate, throughout the foreseeable future. JT Healthcare’s management believes that no provider should have a captive revenue cycle back-office, it should be outsourced to RCO experts.

The rising economic and governmental pressure to reduce costs and focus on clinical operations is pushing healthcare providers to outsource revenue cycle operations. Other than RCO, the only alternatives for hospital CFOs are niche point solution vendors that are, at best, temporary fixes to these mounting problems. With less than 5% of revenue cycle services currently outsourced, this is expected to drive double-digit growth in the RCO market for at least the next decade. The aggregation of this processing among a few scale processors is a natural evolution in any industry having a high volume of transactions as adequate investment in transaction automation, standards and expertise drive down processing costs through economies of scale. JT Healthcare and Premier BPO will bring this sustainable business process outsourcing model to the healthcare industry.

Premier BPO, Inc., founded in 2003, is a leading provider of BPO and KPO services to North American and European Companies. With headquarters in Clarksville, Tennessee and specializing in middle market and multiple vertical markets, Premier BPO delivers its services to the worlds best companies from multiple offshore geographies including China, The Philippines and Pakistan.

For more information related to Premier BPO, Inc. contact:
N. Reese Bagwell, Executive Vice President, Administration
rbagwell@PremierBPO.com
Direct Phone: 931-551-8888
Website: http://www.PremierBPO.com

For more information related to JT Healthcare LLC contact:
Terry Armstrong, CEO
terryarmstrong@comcast.net
615-330-9545