Healthcare >> CEO Interviews >> November 8, 2004
CHARLES (CHICK) YOUNG is Chairman and Chief Executive Officer of PHNS.
He brings over 30 years of information technology experience to PHNS.
Beginning in the 1960s when he worked for NASA as a programmer, his
colorful career reflects the dizzying pace of the high-tech revolution.
From aerospace, he moved to banking where he played an important role in
the development and marketing of Electronic Funds Transfer (EFT)
software. As a partner with Information Processing Corp. (IPC), whose
division Docutel invented the ATM, Mr. Young pioneered a new application
that revolutionized the banking industry because it created new
efficiencies through the consolidation of operations. Mr. Young was one
of the first to recognize that outsourcing could extend state-of-the art
technology, talent and resources to any company in any industry like
accounting firms, utilities, and department stores. In the 1980s, he and
his partners sold IPC to Mtech, the largest bank processor in the world.
In the 1990s, he replicated his outsourcing success by co-founding
Affiliated Computer Services (ACS), which owned the MoneyMaker brand ATM
division. After ACS went public in 1996, Mr. Young began looking for the
next frontier in outsourcing information technology. He discovered
health care, an industry burdened by vast amounts of critically
important record keeping. Mr. Young recognized that the processes he
pioneered in banking would bring extraordinary new efficiencies and
gains to an industry hindered by budget constraints and reimbursement
cutbacks. Mr. Young founded PHNS in 1999 with the goal of partnering
with large healthcare systems to reduce the cost of managing records
while improving accuracy and accessibility to financial, operational and
patient records. In an increasingly penurious regulatory and managed
care environment, his highly sophisticated outsourcing capabilities are
a quick and easy way for hospitals to save millions on bottom line
operational costs in the very first year. He is Chairman of the Board of
Trustees at Jesuit College Preparatory School and is a member of the
Board of the Jesuit School Foundation. He holds an Information
Technology degree from Delgado College of New Orleans. Profile
a picture of the things you are doing at the present time?
Mr. Young: Next quarter our company will be five years old.
