SOURCE: Vengroff, Williams & Associates

April 23, 2008 09:00 ET

Vengroff, Williams & Associates, Inc. Increases Crescent Healthcare's Cash Flow on Year Old Aging Receivables by 50 Percent

Cash Flow Key in Sustaining Competitive Edge in Tough Economy

GARDEN GROVE, CA--(Marketwire - April 23, 2008) - Vengroff, Williams & Associates, Inc., a global provider of receivables management and business process outsourcing solutions, today announced that Crescent Healthcare (Crescent), a premier infusion company, has increased cash flow of aging receivables by 50 percent of the projected goal by outsourcing to Vengroff, Williams and Associates.

In May of 2007, Crescent Healthcare turned to Vengroff, Williams and Associates, Inc. to assist with the collection of aging receivables. Within 60 days, the Vengroff, Williams and Associates, Inc. team was fully implemented and collecting on the portfolio.

"We are extremely pleased with the results that Vengroff, Williams and Associates, Inc. continues to deliver," said Jonathan Dockery, director of billing and collections at Crescent Healthcare. "Without their help, we would have just written off those old receivables. They truly are a partner in our collections efforts and have helped us increase cash flow above and beyond our original expectations, which especially in today's economy is critical to keeping our competitive edge."

Vengroff, Williams and Associates, Inc.'s open technology platform enabled them to quickly tap into Crescent's receivables data residing in their existing technology to expedite the collections process. Access to VWA's platform and reporting ensures that Crescent is up to date on the latest activity, without having to devote extensive resources to the project.

"Vengroff, Williams and Associates, Inc.'s reputation for quality and years of experience were key reasons we decided to go with them," added Dockery. "With more than 3,000 leading companies trusting Vengroff, Williams and Associates, Inc. with their accounts receivables (AR), we knew we couldn't go wrong with our decision."

"In an economy where cash flow is pinnacle, we are pleased that we are able to help Crescent Healthcare reduce revenue leakage and increase cash flow," said Frank Matijevich, sales manager of Vengroff, Williams & Associates, Inc. "Our 45 years of experience enables us to get our customers' AR process up and running quickly and provide them with access to the latest technology, all with very little effort on their part."

About Crescent Healthcare

Crescent Healthcare is a premier infusion company founded in 1992 that provides home infusion services to patients with chronic disorders. Crescent has nine clinical centers in the country and is a leader in the alternate site infusion market. The company's experienced pharmacists and infusion nurses provide a full spectrum of infusion therapies to patients throughout the nation. Crescent's expertise in chronic therapies such as IVIG and Remicade is recognized nationwide. The company also cares for patients requiring acute therapies like antibiotics, enteral nutrition, and parenteral nutrition. Crescent's team of clinicians and intake specialists will work with the physician, patient and payer to select the most appropriate treatment setting, be it in the home, physician office clinic or hospital outpatient clinic. The company's extensive relationships with physicians and hospitals means flexibility and quality care for its patients. More information can be found at www.crescenthealthcare.com.

About Vengroff, Williams & Associates, Inc.

Founded in 1963, and with $23 billion under its management, Vengroff, Williams & Associates is a leading provider of receivables management business process outsourcing (BPO) solutions for Fortune 1000 companies such as Ford Motor Company, Federal Express, Kodak, Microsoft, Yamaha and others. Applying state-of-the-art proprietary information systems, best practice work flow and people to realize cost reductions, operating efficiencies, and improved process design, Vengroff, Williams and Associates' approach enables clients to easily insource or outsource all or part of the quote-to-cash function. Solutions are customized to each client's requirements or expanded to incorporate specialized tools and SAS 70 compliant processes and procedures. Services include full order to cash processing, third party collections, EIPP systems, deduction management, dispute management, auto cash solutions, front-end risk mitigation, and tax resolution. Named a Top 21 enterprise-level FAO service provider by FAO Today Magazine and to the Global Services Top 10 in the FAO Category, to learn more about the award-winning Vengroff, Williams and Associates, please visit www.vwainc.com or or telephone (866) 393-4892.

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