Adam Phillips Takes Family Business to New Heights as CEO
American Business Systems Shows Entrepreneurs a Pathway to Success
FORT WORTH, TEXAS – American Business Systems, or ABS, was founded by Patrick Phillips in 1994 to provide medical billing services. The company enjoyed phenomenal growth, ramping up to having “as many clients as we needed,” according to Patrick.
Fast forward 28 years, and the company’s new CEO, Adam Phillips, Patrick’s son, leads ABS as it guides entrepreneurs on how to replicate the company’s initial success. “Traditional jobs take up too much time and pay too little,” Adam asserts. “Our model is less risky and expensive than conventional franchise opportunities.”
Under Adam’s leadership, American Business Systems offers aspiring individuals another option – business ownership with minimal downside and maximum training and support so that industrious people can achieve success on their terms.
“Just like the medical field is growing, so is medical billing; it is already an $11+ billion a year industry1,” Adam related. “Doctors want to practice medicine, not deal with complicated billing issues. Plus, it is more expensive to purchase hardware, software, updates, and to train staff than it is to outsource their billing.”
According to the Bureau of Labor Statistics, doctors are increasingly outsourcing their billing.
“Just like the reality that created opportunities for my family more than three decades ago, the reality of modern medical billing creates opportunities for entrepreneurs today,” Adam said. “While starting a business is a huge endeavor, we have already blazed that trail, and we have the answers to the questions any would-be entrepreneur may have about starting their own medical billing business.”
Current demographics back up Adam’s belief in the growing opportunities. “The U.S. Census Bureau estimates that by 2030 one in five Americans will be older than 65*, and that means there will be increased demand for health care,” he said. “Those doctors, clinics, hospitals, and dentists will all need help to ensure their patients are billed correctly.”
Further, ABS can assist with telehealth - which became prevalent during the pandemic - and patient communications.
“Our mission is all about making health care work for the provider and patient while showing entrepreneurs a path to prosperity,” Adam asserted.
“For as long as I have the helm of our company, doctors, patients, and our ABS owners who serve them can rest assured that we will do our part to make health care as effective as possible. Doctors can practice medicine, patients can get healthy, and entrepreneurs can secure the futures of their families.”
1 Medical Billing Outsourcing Market Size Report, 2022 - 2030. Grandviewresearch.com. (2022). Retrieved 22 July 2022, from https://www.grandviewresearch.com/industry-analysis/medical-billing-outsourcing-market#:~:text=The%20global%20medical%20billing%20outsourcing,12.0%25%20from%202022%20to%202030.
ABOUT ADAM PHILLIPS
Adam Phillips, CEO of American Business Systems oversees the day-to-day operations of the company. He has been a tireless advocate for providing new and improved support solutions for our Business Owners. He has created new channels for communication as well as new tools for ABS support staff. Adam also consults with prospective Business Owners and guides them through the process of due diligence.
ABOUT AMERICAN BUSINESS SYSTEMS
American Business Systems offers aspiring individuals a template for business ownership in the medical billing field with minimal downside and maximum training and support so that hard-working people can achieve success on their terms. For more information, visit www.absystems.com.
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