An area payment management company recently purchased the assets of one of its competitors that includes software programs to enhance and increase business.
Orthobanc, a payment management company focusing primarily on orthodontists and dentists, bought Acceptx's assets, including the Zuelke Automated Credit Coach software, known as ZACC, and an Acceptx billing and payment software.
Bill Holt, president of Orthobanc, said the additional capabilities will enhance the services it offers its clients.
"We are pleased to add these services to our suite of financial services for orthodontists and dentists," he said. "We are committed to their continued development."
He declined to disclose the purchase price.
Brett Blake, former president and chief executive of Acceptx, said the sale benefits both Orthobanc and Acceptx.
"Orthobanc is a company well known in the orthodontics industry and respected for their responsiveness to practices," Mr. Blake said. "I have found them to be a company that does things the right way, with high integrity and a commitment to quality."
The billing and payment software sets up fees and calculates bills and monthly payments, while the ZACC software, designed by healthcare industry consultant Paul Zuelke, assigns credit risk ratings to patients.
Mr. Zuelke believes patients and Orthobanc's clients both will benefit from the sale of his software rights.
"Orthobanc is the right company to own and maintain ZACC," he said. "We are pleased to be working with them."
Orthobanc has 21 local employees and oversees more than 120,000 patient accounts for about 1,500 orthodontists and manages more than $1.1 billion. The company's growth has enabled its owners to pursue other payment management ventures such as payment management for dentists and private schools and colleges.
Mr. Holt said the recent acquisition may allow the company to spread its services to veterinarians.
"It works well for orthodontists, dentists and just about anyone using fees," he said.