Client Financial Services of Michigan

What Client Financial Services of Michigan does

Client Financial Services of Michigan (CFS) is a privately-held, US-based financial services company founded in December 2005 and headquartered in Fenton, Michigan, that provides an integrated suite of accounts receivable management and contact center solutions primarily to healthcare providers. Its five core offerings — Revenue Cycle Management (early-out/self-pay and extended business office services), Contact Center Solution (inbound/outbound voice, chat, chatbot, IVR, PCI-compliant phone payments), Print-Mail/eContact (print, SMS, email, Email2Pay, Text2Pay with 4M+ piece/day partner capacity), Merchant Processing Services, and Data Transformation — are delivered through a 100% onshore, US-based operating model with multi-lingual shared or dedicated team arrangements and partnerships with Twilio, Repay, IVY, Finvi, Protocol PCI, and ControlCase.

The company is independently and privately owned with no disclosed outside equity investment; founders are described as holding more than half a century of combined industry experience. CFS serves a single primary vertical (healthcare providers, including hospitals, health systems, and medical practices) and reports customer outcomes of 20–40% average recovery increases (instances up to 133%), merchant fee savings exceeding $100K annually for some clients, and daily bad-debt returns at day 121. Revenue and customer counts are not publicly disclosed.

The technology architecture centers on a contact center and revenue cycle management platform with omnichannel communication (voice, chat, chatbot, IVR, SMS, email) integrated into client healthcare information systems for payment processing, remittance/lockbox file handling, bad-debt file assembly, and consolidated statement construction. The firm maintains PCI-DSS Service Provider Level 1, SOC 1, SOC 2 Type II, and HITRUST certifications with annual third-party assessments, and operates from a 40,000 sqft facility with stated room for further expansion. Pricing models include outcome-based/performance contracts on the RCM side, transaction-based merchant pass-through, and dedicated or shared team subscriptions; the company emphasizes direct, consultative sales with no intermediary sales channels and multi-year enterprise contracts.

Name

Client Financial Services of Michigan

Legal name

Client Financial Services of Michigan LLC

Website

https://cfsmi.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Client Financial Services of Michigan is a privately-held, US-based financial services firm founded in 2005 that delivers integrated revenue cycle management, contact center, print-mail, merchant processing, and data transformation services primarily to healthcare providers.

Ownership category

akta.pro rank

Product category

Healthcare Revenue Cycle Management

NAICS

Collection Agencies (56144), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Offices of Physicians (62111), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Health Services (8000), Services-Computer Processing & Data Preparation (7374), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Accounts Receivable (A/R) & Collections Management (HLACACAJ)

akta.pro secondary industries

Patient Financial Engagement (Estimates, Billing Presentment, Payments) (HLACAEAI), Healthcare Billing & Patient Payments Presentment (FSAMAJAH), Receivables Management (Collections, Lockbox, EIPP) (FSABAIAA), Claims Intake, FNOL & Adjudication Support Centers (BPAAAAAH)

Keywords

• Healthcare revenue cycle management
• Early-out self-pay services
• Patient contact center solutions
• Medical accounts receivable management
• Healthcare merchant processing

Headquarters

HQ city

Fenton

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Revenue Cycle Management / Early-Out Self-Pay Services: Early-out and self-pay billing services beginning day one following insurance adjudication. Includes insurance eligibility queries prior to patient statement transmittal, comprehensive revenue cycle management, and extended business office services. CFS absorbs all costs and contracts while increasing client recoveries by 20-40% on average, with some instances as high as 133%.
2. Contact Center Solutions: Customized contact management services providing customer acquisition, care, retention, and back-office processes. Options include dedicated or shared teams, inbound/outbound voice campaigns, digital outreach, and overflow handling during SLA breaches.
3. Print-Mail and eContact Services: Communication services including customizable full-color print options, mass email and SMS/text campaigns, reminder programs, Email2Pay, Text2Pay, and pick-up/drop-off mail sorting. Partners provide over 4-million piece capacity per day.
4. Merchant Processing Services: Pass-through of CFS's high payment processing volume to clients, resulting in discounted merchant fees. Includes EMV chip readers, secure PIN pads, and PCI-compliant payment processing. In 99% of implementations, clients realize significant cost savings, some exceeding $100,000 annually.
5. Data Transformation: Customized programming including remittance and lockbox file spend-down, bad debt file assembly and transmittal, data clean-up, reconciliation, customized reporting, and enterprise-level consolidated statement construction.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Client Financial Services of Michigan delivers healthcare-focused accounts receivable management, beginning day one following insurance adjudication with early-out and self-pay billing services. The company combines 100% US-based contact center operations, omnichannel patient communication, PCI-compliant payment processing, automated remittance and lockbox file handling, print-mail campaigns, and merchant processing pass-through volume discounts to increase client recoveries by 20-40% on average (up to 133%) while providing compassionate patient financial care.

Product overview

Client Financial Services of Michigan offers an integrated suite of five core financial services: Revenue Cycle Management (early-out/self-pay and extended business office services), Contact Center Solution (inbound/outbound voice, chat, and digital outreach), Print-Mail/eContact (print-mail, SMS/text, Email2Pay, Text2Pay, and IVR), Merchant Processing Services (payment processing with volume discounts), and Data Transformation (remittance processing, bad debt files, and data cleanup). These solutions are designed to work together as a comprehensive revenue cycle ecosystem, enabling healthcare clients to increase recoveries, improve patient satisfaction, and reduce operational costs through compassionate service and advanced technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Revenue Cycle Management Early-out and self-pay billing services with full system integration, beginning day one after insurance adjudication for healthcare providers. Includes insurance eligibility verification, patient statement delivery, payment collection, extended business office services, charity applications, cash reallocation, UB-04 and itemized statement transmittal, and daily bad debt return at day 121, designed to increase recoveries by 20-40% on average (up to 133%).
• Contact Center Solution Customized contact management services providing 100% US-based representatives for healthcare providers, with shared or dedicated multilingual teams, inbound/outbound voice campaigns, digital outreach, two-way live chat, intelligent chatbot, IVR pay-by-phone, SMS/text, email, and overflow handling during SLA breaches.
• Print-Mail / eContact Multi-channel patient communication services for healthcare providers including customizable full-color print with 4-million piece daily capacity through partners Wolverine and Renkim, mass email, SMS/text campaigns, reminder programs, Email2Pay, Text2Pay, IVR pay-by-phone, live-party chat, and intelligent chatbot self-service.
• Merchant Processing Services High-volume healthcare payment processing with discounted merchant fees passed through to clients, including EMV chip readers for card-present payments, secure PIN pads for contactless payments, and PCI-compliant payment processing by phone and online. Reported to save clients over $100,000 annually in merchant fees in many cases.
• Data Transformation Customized programming and data services for healthcare providers including fully automated remittance and lockbox file spend-down, bad debt file assembly and transmittal, data clean-up, reconciliation, customized reporting, and enterprise-level consolidated statement construction.

Quantifiable outcome

• Increased recoveries 20-40% on average, with instances as high as 133%
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability3 records

Feature6 records

Partnerships

17 partnerships are on record, tiered core and strategic.

• ARxChangecoreTechnology or IntegrationProvides insurance eligibility verification and economic profiling services for patient benefits verification prior to statement mailing.
• IVYcoreTechnology or IntegrationProvides live-party, two-way secure chat and intelligent chatbot capabilities for patient communication.
• WolverinecoreTechnology or IntegrationProvides superior print/mail services with 3-million piece per day capacity.
• RenkimcoreTechnology or IntegrationProvides superior print/mail services with 1-million piece per day capacity.
• RepaycoreTechnology or IntegrationProvides secure online bill payment, eStatement view, eWallet and other payment processing capabilities.
• TwiliocoreTechnology or IntegrationEmpowering outbound dialing and SMS/text messaging, enabling seamless, timely communication to patients.
• PayScoutcoreTechnology or IntegrationProvides secure online bill payment solutions.
• Protocol PCIcoreTechnology or IntegrationAnnually assesses CFS for PCI-DSS Service Provider Level 1 compliance.
• ControlCasecoreTechnology or IntegrationAnnually assesses CFS for SOC 1, SOC 2 Type II, and HIPAA HITRUST compliance.
• KnowBe4coreTechnology or IntegrationProvides HIPAA certification testing and monthly security/phishing testing for staff.
• FinvicoreTechnology or IntegrationProvides best-in-class patient/consumer database technology for revenue cycle management.
• Thomas ReuterscoreTechnology or IntegrationProvides an intensified and valuable skip-tracing utility for locating patients.
• TransUnioncoreTechnology or IntegrationProvides account scoring and economic profiling for patient financial assessment.
• EquifaxcoreTechnology or IntegrationProvides credit bureau data as needed, upon request.
• LexisNexiscoreTechnology or IntegrationProvides account scoring capabilities for patient financial assessment.
• 123NETcoreTechnology or IntegrationPrimary data and telecom provider for CFS operations.
• Sunlit CovestrategicStrategic or Co-development PartnerProvides RCM solutions including patient access, process improvement, interim and vendor management, policy and procedures, contracts, audits, and training.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Market position

Strengths5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/CFSofMI
• Facebookfacebook.com/CFSMI
• LinkedInlinkedin.com/company/client-financial-services-of-michigan

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Client Financial Services of Michigan