For the Love of Code

Talk about a long-term growth opportunity: Lisa Boyce runs a business where customer demand is driven by an increase, or at least a status quo, in the amount of government bureaucracy in health care.

Specifically, the company, Marco Island-based FairCode Associates LLC, has a niche in providing a range of audit-based work for hospitals that seek help in getting accurate reimbursement for services. “We are a fast cash solution for hospitals that are struggling,” says Boyce, FairCode CEO. “And a solution for any hospital looking to streamline its processes.”

There are some serious dollars in the amount of missed or incorrect payments, which stem from a variety of factors, says FairCode co-founder Dr. Tracey Goessel. FairCode, says Goessel, has recovered around $333 million for hospitals since she and Boyce launched the business in 2001. In that time, the company — mostly doctors paid on a contractor basis — has reviewed more than one million cases for clients. The average gross return on every dollar a client pays in fees is $4, say company officials.