Pennsylvania-based MedRisk Inc., which provides specialty managed care and claims workflow management services to the workers’ compensation industry, announced plans to move its corporate headquarters to a larger space. In addition, the company reported that Thomas H. Weir, III, CPA has joined MedRisk as chief financial officer. Weir’s responsibilities include the strategic and operational leadership of all financial aspects of the company.
Weir has more than 15 years of experience in industry and public accounting, most recently serving as vice president of finance and controller for Exelon Generation in Kennett Square, Pa. Previously he was a senior manager with PricewaterhouseCoopers LLP.
Commenting on Weir’s appointment, MedRisk CEO Shelley Boyce noted, “MedRisk is experiencing tremendous growth. Tom Weir’s demonstrated leadership skills and executive financial expertise makes him the ideal candidate to support our continued growth.”
A resident of Kennett Square, Pa., Weir holds bachelor’s degrees from North Carolina State University in accounting and business management. Weir has been a certified public accountant since 1990.
The company has leased approximately 50,000 square feet in Corsair I, a Class-A building at the Renaissance Corporate Center, 2701 Renaissance Blvd. in King of Prussia, Pa.
MedRisk, has experienced 40 percent growth and doubled its staff in the past four years. Approximately 20 staff members already work in the new building and the rest of MedRisk’s 180 employees will move there this fall.
MedRisk will occupy the second and third floors with room for further expansion, according to Boyce. “This Class-A building is a place where people will enjoy coming to work and it offers a recruitment advantage as we seek top-tier talent to fuel our national growth,” Boyce added.
MedRisk offers specialty workers’ compensation managed care services targeting physical therapy and chiropractic care. Approximately 20 percent of the workers’ compensation medical dollar is spent on physical medicine, and MedRisk is the only national company focused exclusively on managing these costs. The cost of physical medicine is one of the hottest issues in workers’ compensation, positioning MedRisk for further rapid growth. According to Boyce, the company expects to double its workforce by the end of 2005.
The company was founded in 1994 and is currently located at 640 Freedom Business Center #300 in King of Prussia.
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