General Audit changes name, focus

LIMA - After more than quarter century in business, General Audit is changing its name. And it's doing it as it has done most business over its history, quietly.

The company, best known for its work in collections and a corporate accounts receivable, has changed directions in recent years. In 2000, it formed Revenue Management Group to provide help with office processes for businesses. The two companies will officially merge today to become Keybridge Medical Revenue Management, a name President Scott G. Koenig said better reflects what the company does.

"This just reflects more of what we do than General Audit. We're not really an auditing company. This makes it a little easier in trying to market our services," Koenig said.

Those services include managing billing and receivables, specifically for medical businesses. Its clients range from large hospitals to single-doctor practices. Most of its clients are in Ohio, Michigan and Indiana, but it serves businesses in 14 states.

That's a big difference from the company's early days. Ned Koenig, Scott's father, began General Audit in the basement of the family's Lima home.

"There were a couple of desks in the basement of our house. It was he, mom and one other employee," Koenig said.

Today, the company has 50 employees working out of a 16,000-square-foot building constructed in 2005. Scott Koenig took over the company in 1993, returning to Lima after an aerospace career that included work on Air Force One and the International Space Station.

The revenue management business may not exactly be rocket science, but it is increasingly complex, Koenig said. New government regulations, a constant shift in insurance requirements, and constantly changing client needs mean Keybridge has to stay on top of issues and technology affecting the industry.

"That's basically why we exist. It's such a complex animal and it's a moving target. Things change from day to day," Koenig said.

Those changes make it difficult for businesses to keep up. Outsourcing the work to companies such as Keybridge allow them to free up staff and avoid costly mistakes in filing and collections.

"We're able to specialize in just being a receivables manager for health care. That means our clients are able to reduce costs and increase cash flow," Koenig said.

That expertise means Keybridge employees must go through constant training. The office houses its own training facility.

"Education and knowledge are something we spend a lot of time on," said Vice President Mike Miller. "Things are constantly changing so it's a necessity in this business."