For Immediate Release
August 7, 2020
Canton, MA - The Phia Group LLC, the health benefit industry's leading cost-containment service provider, announces the promotion of Nick Fitzsimmons as Senior Director of Provider Relations. "Nick has been partnered with The Phia Group for 2 years, helping us grow our Provider Relations department where, as part of that team, he distinguished himself as a key strategic contributor,” stated Adam Russo, CEO of The Phia Group. “Nick is a seasoned and experienced cost-containment guru and I look forward to his continued leadership in Provider Relations as we continue to grow and add to our suite of services.”
Nick Fitzsimmons’ cost-containment journey began with Global Excel Management in 1996, managing a team of over 50 employees comprised of negotiators and sales representatives. He also led the network utilization, negotiation strategies, and later rose to the ranks of senior executive leadership. “The Phia Group is a good fit for me as they are all about innovation, which is what I am looking for.” stated Nick Fitzsimmons. “I want to be where the action is, and The Phia Group never sits still pursuing their deep commitment to lower the cost of healthcare.”
For more information regarding The Phia Group, please contact Vice President of Sales and Marketing, Tim Callender, by email at firstname.lastname@example.org or by phone at 781-535-5631.
About The Phia Group:
The Phia Group, LLC, headquartered in Canton, Massachusetts, is an experienced provider of health care cost containment techniques offering comprehensive services, designed to control health care costs and protect plan assets. By providing industry-leading consultation, plan drafting, subrogation and other cost containment solutions, The Phia Group is truly Empowering Plans.
September 17, 2018
Braintree, MA and Boston, MA
The Phia Group, LLC (“Phia” or the “Company”), a provider of outsourced cost containment and payment integrity solutions to healthcare payers, today announced that it has received a growth investment from WestView Capital Partners.
Headquartered in Braintree, MA, the Company’s comprehensive suite of outsourced tech-enabled services enables healthcare payers to maximize health benefits while offsetting the rising cost of healthcare, making healthcare more affordable for their beneficiaries. As one of the leading experts in the self-funded health plan industry, Phia provides plan administrators and their groups with on-demand, knowledge expert services and support, spanning the clinical, regulatory compliance, and reimbursement aspects of the claims and benefits administration process. Phia’s tech-enabled, data driven subrogation and claim recoupment platform has been proven to drive the highest recovery and savings rates in the industry, while its consultative and cost containment services are universally recognized as industry leaders in both innovation and outcomes.
“Phia is committed to being on the forefront of the rapid changes occurring every day in healthcare, and specifically in the self-insured market, ensuring our clients have the right tools and information to control costs and protect their plan assets,” said Adam Russo, CEO of Phia. “We are firm believers that the self-funded market will continue to rapidly grow and evolve and are thrilled to have partnered with WestView, whose longstanding focus not only on healthcare technology and outsourcing but specifically the reimbursement and claims payment ecosystem will help us capitalize on the numerous opportunities we see out in front of us.”
“Through years of hard work and dedication, Phia has positioned itself as a thought leader and knowledge expert in the healthcare cost containment market,” said Matt Carroll, General Partner at WestView, who will join Phia’s Board of Directors along with WestView colleagues Jeff Clark and Kevin Twomey. “Adam Russo and his team epitomize the type of passionate and creative entrepreneurs we have built WestView around, so it is only fitting that Phia is the first investment in our latest fund,” added Carroll.
WestView was represented by Latham & Watkins with senior debt financing provided by Abacus Finance Group while Phia was represented by Covington Associates and McLane Middleton.
About The Phia Group:
The Phia Group is a provider of outsourced cost containment and payment integrity solutions for healthcare payers and the entities that service them. Through innovative technologies, legal expertise, and focused, flexible customer service the Company strives to maximize health benefits while reducing healthcare costs for plan administers and their beneficiaries. The Company’s tech-enabled, knowledgeable experts and service offering span the clinical, regulatory compliance, and reimbursement aspects of the claims and benefit administration process, including plan document drafting, subrogation and overpayment recovery, claim negotiation, plan defense and consulting services, all of which are designed to control costs and protect plan assets.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $60 million. For more information, please visit www.wvcapital.com.