IN: Healthcare Financial Firm Expands, Adds 216 Jobs in Lake County
29 Jan, 2013
Governor Mike Pence joined executives from Horizon Financial Management, LLC, a medical billing company, to announce the company's plans to expand its operations in Merrillville, Indiana, creating up to 216 new jobs by 2016.
The company plans to invest $1.9 million to lease, renovate and equip 20,000 square feet of space in the AmeriPlex at the Crossroads complex, approximately two miles from its current working facility. Horizon Financial Management plans to move its operations to the new facility when construction is completed at the end of August.
"Horizon Financial Management's decision is the latest proof that Indiana is a cost-effective location for companies to grow and succeed," said Pence. "We will remain steadfast in our focus on both homegrown and worldwide investment opportunities as part of our efforts to broaden and deepen the employment base in the Hoosier State."
Horizon Financial Management, which currently has 60 employees in Merrillville, plans to hire additional medical billing associates throughout the year.
"Horizon Financial Management has developed a billing model that puts an emphasis on positive patient relations and satisfaction to ensure the customer is put first," said Frank P. Termini, managing partner at Horizon Financial Management. "Over the last eight years, we have enjoyed steady growth, with Indiana and Merrillville providing an ideal location for expansion. We look forward to the continued growth in this community."
Founded in 2005 in Merrillville, Horizon Financial Management provides billing management and collection services to healthcare providers. Serving physicians and hospitals across the country, the company offers accounts receivable programs for day-one billing and other project focuses for accounts throughout the healthcare revenue cycle process.
The Indiana Economic Development Corporation offered Horizon Financial Management, LLC up to $1,900,000 in conditional tax credits and up to $100,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Merrillville approved additional property tax abatement.
"We are happy to have Horizon Financial Management investing in Merrillville," said Shawn Pettit, a member of Merrillville town council. "This growth and commitment to job creation is always welcome news to the community and we look forward to their continued growth in our city."
Horizon Financial Management's announcement to grow in Lake County comes less than a month after Land O'Frost announced plans to relocate its corporate headquarters from Illinois to Munster, Ind. As the nation's third-largest pre-sliced, pre-packaged lunchmeat producer, Land O'Frost plans to invest $6.4 million and create up to 50 new jobs as part of the project.
About Horizon Financial Management
HFM understands that patient satisfaction is the key to the success of all healthcare enterprises. With that in mind, we've developed a medical billing model which stresses positive patient relations which we use to screen and train our account representatives. Our program demands high communication skills, technological adeptness, and emphasizes the importance of dealing with patients and guarantors in a polite and positive manner. In an ever increasingly competitive healthcare marketplace, happy patients and optimal revenue are your keys to a successful future.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.