National Billing Partners LLC, a Chicago-based provider of financial services for healthcare providers, has raised an undisclosed amount of funding from OCA Ventures.
Venture capital firm OCA Ventures announced today the first institutional financing round for National Billing Partners, LLC (NBP), a healthcare services firm that specializes in billing and collections, coding audits and reviews and other financial services. NBP plans to use the funding for sales and marketing growth and operational expansion.
“As a company that alleviates billing pain points for physicians practices and medical facilities, National Billing Partners provides a crucial service in the healthcare industry,” said Eddie Lou, General Partner for OCA Ventures. “The company’s leadership team has built several successful healthcare companies in the past; we are excited to work with them to build a great business serving the healthcare financial services industry.”
“We have known OCA Ventures over the past six years and are excited to have them as partners in National Billing Partners,” said Ned Schwing, co-founder of National Billing Partners. “The company had many financing options and we are excited to be working with OCA.”
National Billing Partners’ comprehensive service offering for high-acuity specialties and facility based programs includes billing and accounts receivable management, coding audits and reviews, claims follow-up, denial management, insurance verification, compliance support and practice benchmarking. The company also offers a diverse range of advisory services, including managed care contracting and negotiation, credentialing support and practice management interventions. By outsourcing these functions to NBP, a healthcare provider can significantly increase practice revenue and upgrade their ability to collect and track information. Because a practice can also reduce administrative staffing and costs by outsourcing with NBP, their services do not represent a significant incremental expense. Visit www.mybillingpartner.com for more information.
About OCA Ventures OCA Ventures is a venture capital firm focused on equity investments in companies with dramatic growth potential, primarily in technology and highly-scalable services businesses. OCA invests in many industries, with a preference for financial services and for-profit education. Over the last decade, OCA has invested three funds in over 30 companies. OCA Ventures manages in excess of $90 million of capital commitments and has invested in over 30 companies since it began investing in 1999.
OCA Ventures partners with proven entrepreneurs to build market-leading companies. OCA Ventures complements management teams with a wide range of strategic, human and financial resources. For more information, please visit www.ocaventures.com.