Location: Lindenhurst, NY
Industry: Collection, billing and receivables management
THE SECRET TO LONGEVITY
POM Recoveries, Inc. is a collection, billing and receivables management company. Ninety-nine percent of the company’s business is generated by healthcare providers. “Our business proposition to our clients is very dynamic, depending on what their issues are and what type of receivable they’re having problems with,” says president James Argutto. “We … develop a process unique to their situation, with a special and very concentrated effort to obtain a satisfactory result on their behalf.” POM Recoveries’ growth has been fueled by the dedicated staff that has resulted from “a real team-building effort,” says Argutto.
Quick Tip: “[A great leader has] the ability to identify talent and let the talent do the job.”
One challenge POM Recoveries faces in its work relates to software development, and the need to adequately interface with the many different systems its clients use. To solve this challenge, “we use and also develop very dynamic software, allowing us to data-mine, score for propensity to recover the receivable, and actually report fluidly back to the client regarding the values achieved,” says Argutto. POM Recoveries has been in business for 33 years. The company has achieved this longevity by focusing on the quality of its process, rather than simply the amount of business it can bring on, says Argutto.