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Collection Connection 2016: Quarter 1

January 4, 2016

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Collection Connection: 1st Quarter - January 4, 2016

We hope you had a healthy & happy Holiday Season!

** Letter from the President ------------------------------------------------------------

On behalf of our entire team at PFC and FPRS, I want to thank you for your on-going support and confidence in our services. We sincerely appreciate the continued loyalty of hundreds of long standing clients, and we thank the new customers that we welcomed in 2015, including 27 new hospitals, for entrusting us with your business.

Our liquidation rates reached an all-time high in 2015, which I credit to our dedicated and outstanding staff at all levels for their commitment to quality and professional interactions with consumers. In addition to on-going training of our collectors and patient account representatives, PFC continues to leverage technology to increase productivity and compliance. Our partners have enabled us to continue to communicate with consumers and increase our right party contacts without running afoul of the Telephone Consumer Protection Act. We utilize several data mining partners that monitor accounts in the background and notify us when circumstances in consumer’s lives change, enabling us to react and capture dollars for our clientele that might otherwise have gone uncollected. Collection processes are constantly being evaluated and refined as we look to niche market experts to assist us in a very fluid collection environment. After thorough research, we have engaged an analytics company to help us understand and respond to both internal and external trends as well as develop strategies intent upon maximizing results. We have expanded our relationship with a nationwide attorney network to ensure that no legitimate rightfully owed debt is precluded from possible collection just because a consumer might live outside our in-house legal capabilities.

Of course, all the technology in the world does not overcome the need for dedicated and talented people. Throughout the organization, our people are what makes us better. One of the highlights of 2015 was being chosen as the #1 agency on InsideARM’s annual list of “Best Places to Work in Collections.”

Organizational transitions are progressing as we adjust to changing customer needs and internal personnel changes. As you have been made aware, our Senior Vice-President and Chief Operating Officer, Mary Hall retired on December 31, 2015 after 44 years with the company. While we will adjust and adapt to her departure, Mary is a person you just can’t replace. I am pleased to announce that Jerry Peer has been promoted to Vice-President of Operations. Jerry is an industry veteran, having worked both inside hospital revenue departments as well as in third party collections for over 30 years. Jerry has been with PFC since 2008. In this new role Jerry will oversee all aspects of PFC. In addition to productivity, he will be responsible for administrative functions and client services. Jerry has already spent months reorganizing our client services department so that we can improve our service to our valued clients. Derrik Garhart, a long time collection supervisor has been promoted to Director of Collections.

This past year was the best in our history for FPRS, our active receivables management division. Led by Bill Blevins, Vice-President, this division continues to produce outstanding results in a complaint free environment and deliver world class customer service. FPRS experienced extraordinary growth in 2015 and we expect more of the same in 2016. We expect to offer additional service lines this year so that our healthcare partners may realize even greater revenue in the years ahead.

Again, thank you to all of our valued customers for your continued trust in our company. We are dedicated to improving our results and our service to you in 2016.

Sincerely,

Michael V. Shoop

President and CEO

 

** IMPORTANT ORGANIZATIONAL CHANGES ------------------------------------------------------------

In preparation for these organizational changes, PFC's Client Services Department has been working diligently to update processes on how we communicate and serve you, our clients. Please call the main Client Services extension at 800.864.4391 x460 and you will continue to receive an enthusiastic and prompt response from the first available specialist.

Client Services Team

Professional Finance Company, Inc.

Direct: 800.864.4391 x460

Fax: 970.352.7972

Email: clientsrv@pfccollects.com

www.pfccollects.com (http://www.pfccollects.com/) ============================================== ==============================================

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