Accounting Firms Merge Healthcare Practices
MS Lovelace and MS Frost have had a common interest in providing financial and accounting services to the healthcare industry, which has resulted in several joint venture engagements over the past two to three years. In 1999, MS Frost decided to focus its efforts on its Agribusiness practice, and according to Ron Shuck, a MS Lovelace shareholder and senior housing healthcare leader, "it was a natural progression for the MS Frost healthcare practice to merge into MS Lovelace."
"We have been working together in the past through the Moore Stephens Health Care Consortium," Shuck said. "It made perfect sense to join strengths and present a more unified marketing effort."
"By merging the MS Frost healthcare division with MS Lovelace, we have greatly increased our ability to serve the financial and accounting needs of hospitals," said Virginia Scheck, Marketing Leader, MS Lovelace. "MS Frost is a significant provider of services to the hospital industry in the Midwest. This next year, MS Lovelace will be adding a number of hospitals within Florida to our target client list."
The three team members from MS Frost, Frank Butts, Phil McLaughlin and Joe Newman, will become part of MS Lovelace and continue serving their clients in similar roles. They will be maintaining offices in Little Rock.
The merger broadens MS Lovelace's relationships within the healthcare financing market, expands and strengthens its reimbursement consulting experience, and provides strong acute care experience to expand its client base. The merger also provides additional opportunities for MS Lovelace team members to be involved in other aspects of the healthcare industry.
"We're excited about the merger," said Doug Palmer, president of MS Lovelace. "MS Frost's healthcare team members’ entrepreneurial style and sales abilities are exactly what we need to continue our expansion into other areas of healthcare."
"This addition also expands our areas of influence from the Eastern United States to Texas."