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David K. Hoover, Vice President – Corporate Development

Posted by Lisa Velasquez in Fi-Med Management, Inc, Fi-Med News, Fi-Med's Executive Team

David Hoover brings thirty years of diverse healthcare leadership experience to the Fi-Med team.  A Kellogg MBA and Marquette lawyer, Hoover has served as senior executive and legal counsel for hospitals, physician organizations, healthcare systems and managed care organizations.  He has worked extensively with healthcare organizations in all phases of the business life cycle, from start-ups to closures, and in all environments including nonprofit, privately and publicly owned for-profits, secular and faith-based.

As Vice President – Corporate Development, Hoover will focus on strategy, business development and organizational alignment for the Fi-Med family of businesses.

Mr. Hoover has served on a variety of boards and committees for various professional organizations including the American Surgical Hospital Association, the Wisconsin Hospital Association, and the Wisconsin Bar Association, in addition to numerous community-based charitable organizations.

Christine Krause, Vice President

Posted by Lisa Velasquez in Business Awards, Business Owners, Fi-Med News, Fi-Med's Executive Team, In the Press, Mergers and Acquisitions

As Fi-Med’s certified compliance consultant and operations leader, Christine has brought to independent medical practice’s a re-engineered “billing” office, expanding it into the efficient and compliant business management of accounts receivable. Christine worked alongside Adrian Velasquez to form and build Fi-Med Management, Inc. in 1993 with the common vision: aiding independent physicians in increasing profits, reducing compliance risk and creating, and maintaining, a healthy practice.

Christine brings to Fi-Med a unique and powerful blend of healthcare and business experience, along with a double major in accounting and business management at Lakeland College where she graduated magna cum laude. She is a certified compliance consultant and member of the Medical Group Management Association, American College of Healthcare Executives, Healthcare Compliance Resources, and Comprehensive Medical Practice Analysts.

Her contributions to the community include serving on the board of NewCastle Place, Inc., EastCastle Place, Inc. and Milwaukee Protestant Home, Inc. She also volunteers her time as an election official in Elm Grove, WI.

Christine’s Awards & Nominations

Selected to receive “Wisconsin’s 2007 Small Business Person of the Year Award”
Received Certificate of Special Congressional Recognition in recognition of outstanding and invaluable service to the community.
Nominated for Women of Distinction Award
Nominated for Women of Influence Award

Richard Usry, CHBME, Senior VP Healthcare Management Systems

Posted by Lisa Velasquez in Fi-Med News, Fi-Med's Executive Team, In the Press, Industry Updates

In 1970, when the rest of his college classmates were taking the stage in cap and gown at Virginia Commonwealth University’s graduation ceremony, Richard Usry was hard at work debugging software in Detroit. Just days before, medical supply industry giant General Medical Corporation had offered Usry a job as Data Processing Manager – an impressive offer for a new graduate and one he says he couldn’t refuse. 

The offer followed others from companies like IBM and ITT in New York, but Usry, newly married at the time, didn’t want to relocate. The opportunity to work with General Medical Corporation’s 11 divisions in Maryland and Virginia came at the right time, on the heels of a fresh degree – a B.S. in business management with an emphasis in computer science– and the preparatory experience of his work during school as a computer operator and programmer assistant for the Federal Reserve Bank in Richmond.

Over the course of his 40-year career, lucrative job offers and opportunities followed, and Usry became sought after in the industry by companies like Medical Data Services, who were implementing similar health care processing systems and needed expertise that at the time was in short supply. Usry built a reputation for speed and precision, developing highly saleable systems in a fraction of the time typically required – once developing a complex prototype from scratch in less than a week. The first system sold within hours of final post-production testing, and Usry went on to close more than $1 million in system sales to hospitals around the country. Later, Usry would be instrumental in the development of one of the first medical billing solutions for physicians using the mini-computer.

Today Usry heads up Healthcare Management Systems (HMS), a software division of medical revenue cycle management firm Fi-Med Management, Inc. HMS software, built to be scalable to medical billing operations of any size, was first put into practice by the University of Virginia Hospital System’s new health services foundation in 1980. Under the direction of the university and Price Waterhouse, Usry and his team customized an HMS software installation to bring the foundation’s members – 270 independent physicians at that time – all under one billing umbrella.

Usry continued to develop and evolve HMS through changing technologies and healthcare regulatory landscapes in the 30 years following, its success attracting the attention of ArborMed Corporation, a medical billing firm led by well-know medical billing veteran Charles Morf. ArborMed purchased Health Management Systems in 2005, and both entities were later acquired by Fi-Med Management, Inc. in 2009.

At Fi-Med, Usry continues to expand HMS nationally, and will be instrumental in developing the company’s growing presence in the radiology market. As part of the executive management team, he’ll help to shape Fi-Med’s future as a leader in the fast-changing healthcare billing and revenue management industry.

Richard Usry is a long-time member of the Healthcare Billing and Management Association (HBMA), involved in numerous committees, including vendor and education. He and his wife, Betty, live in Richmond, Virginia, and have three daughters with successful careers of their own.

2009 Inc. 5000 Winners Announced

Posted by Lisa Velasquez in Business Awards, Fi-Med News, In the Press

Inc. Magazine Unveils Exclusive List of America’s Fastest-Growing Private Companies-the Inc. 5000

Fi-Med Management, Inc. Ranks No. 1344 on the 2009 Inc. 5000 with Three-Year Sales Growth of 237.7%

NEW YORK, August 12, 2009–Inc. magazine today ranked Fi-Med Management, Inc. NO. 1344 on its third annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy-America’s independent-minded entrepreneurs. Consumer electronics maker Vizio, Internet giant GoDaddy, rental car service Zipcar, and beverage maker Honest Tea are among the prominent brands featured on this year’s list.

“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate, ” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”

Fi-Med Management, Inc. is an award-winning financial management firm providing comprehensive claims, coding, billing, lockbox and financial reporting services to the medical industry.

The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.

Contact: Lisa Velasquez 714-935-0073

 

Forming a More Perfect Union

Posted by Lisa Velasquez in In the Press

Business Week examines the home and office lives of couples who’ve started a businesses together:

With the right attitude, though, abetted by clearly defined roles and open lines of communication, both the company and the couple can thrive. Adrian Velasquez, 61, and Christine Krause, 48, founded Milwaukee-based Fi-Med Management in 1993, in part because they wanted to work together. Today, the $3 million company, which specializes in accounting and banking solutions for medical practices, has 45 employees. And Velasquez and Krause still relish being together all day, every day, and talking shop well into the evening. “I know it sounds too good to be true,” says Velasquez. “But working together actually keeps our relationship fresh.”

Read more.

Fi-Med featured in Business Journal magazine

Posted by Lisa Velasquez in In the Press

The house where Fi-Med began

“Out of a cramped, two-story house on Milwaukee’s west side, Fi-Med Management has quintupled its revenue in three years, even though its target market – small, independent doctor’s offices and medical laboratories – is shrinking.…” 

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Fi-Med featured in MD News magazine cover story

Posted by Lisa Velasquez in In the Press

“With technology, the health care industry has found the ability to detect, diagnose, evaluate, monitor, manage, cure and even predict what ails us. In many cases, even detection would have eluded doctors just 20 or 30 years ago. But what about what ails our doctors? That’s been the million-dollar question …” 

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Fi-Med profiled in Milwaukee Journal-Sentinel

Posted by Lisa Velasquez in In the Press

“Doctors are skilled at healing, not accounts receivable. That has opened up a niche for entrepreneurs like Adrian Velasquez and Christine Krause…”

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Fi-Med featured in Small Business Times

Posted by Lisa Velasquez in Fi-Med News, In the Press

“Independent physicians and medical laboratories often struggle to collect payments because of complexities in the billing process. Insurance companies require different formats and amounts of information from doctors …”

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