In 2002, Nick DiGiovanni and Tim McCarthy left the healthcare division of one of the largest accounts receivable management firms in the world to start a company with a revolutionary vision and purpose. They were certain that by leveraging technology, they could design a much better way to address the largest and fastest growing need in the hospital accounts receivable industry. They joined with Ryan Kiechle, a renowned software architect that had spent his entire career designing collection software systems for hospital accounts and created one of the industry's leading collection solutions.

Having spent decades helping hospitals navigate the changing reimbursement landscape, Nick and Tim noticed that rising patient co-pays and a shift toward outpatient care was causing an alarming increase in unpaid "small-balance" insurance claims, which hospitals were unable to resolve due to the increasing demands being placed on the business office.

With a solid vision of a technology-based solution for outsourcing small-balance insurance claims, Nick, Tim and Ryan launched Revenue Cycle Solutions with 3 of the most knowledgeable AR experts they had met throughout their healthcare revenue cycle careers.

At about the same time, Gregg Rotenberg and Greg Richards were putting together an investment fund called InvestRx that would invest exclusively in companies that provide outsourced revenue improvement services to hospitals. Having spent their careers in healthcare and technology, Gregg and Greg believed that a piece of new legislation called HIPAA would result in technology becoming the key determinant of which firms were successful in helping hospitals achieve their goals.

Over the next year, InvestRx utilized a team of analysts to conduct exhaustive interviews of all the major vendors in the revenue cycle space, and rank the true capabilities of each company in the industry. After an exhaustive search of more than 800 companies, InvestRx identified RCS as the company with the most advanced technology and workflow platform in the industry.

The new combined team worked closely with leading technology and operations professors at the Harvard Business School to design several critical enhancements to the RCS platform, designed to further extend the competitive advantage that RCS has in collecting small balance claims.

Today, RCS is a uniquely specialized hospital accounts receivable firm with a focus on servicing small-balance receivables. They use technology to automate the efficient collection of insurance balances that are too small for the hospital and other AR vendors to economically justify collecting. Once all insurance balances have been collected, RCS' highly automated process efficiently manages the collection of the patient portion of the balance.

With a customer list of over 30 prestigious hospitals and academic medical centers, RCS has very quickly become known as the only legitimate choice for collecting small balance insurance claims.

RCS is backed by InvestRx-an investment fund focused exclusively on the hospital revenue cycle, and by Austin Ventures, the leading $3 billion venture capital fund based in Austin, TX.