MDRX - Veradigm Increasing Presence in Payer Market
Company uniquely positioned to drive increased value
Veradigm Inc. (NASDAQ: MDRX) reports today strong growth for the preceding six months in its payer segment including:
- 296 Veradigm Payerpath agreements
- 6 net-new regional payer, national payer, and aggregator clients signed
- 16 incremental health plan agreements signed with existing clients, including the new Comprehensive Submissions which increased Veradigm’s footprint in the Medicaid market
- Signed the first two Veradigm Payer Insight contracts, breaking ground in the company’s ability to display gaps in care alerts in a single consolidated workflow on behalf of health plans for their providers
Veradigm Payerpath was recently rated top end-to-end revenue cycle management (RCM) software by Black Book . Veradigm Payerpath is an end-to-end provider/payer collaboration platform built to handle clean claims submissions, assist organizations to improve revenue, reduce friction between payers and providers, and streamline patient communications.
Veradigm added 6 net-new regional payer, national payer, and aggregator clients, while expanding business with 15 current clients, worth multimillion in annual contract value. Veradigm also grew its Blue Cross/Blue Shield health plan client base to 10 by adding one additional large Blue health plan.
“To compete effectively while also improving clinical and financial outcomes, payers need to drive new, meaningful value for their members and their network of providers,” said Tom Langan, President and Chief Commercial Officer of Veradigm. “Doing so calls for a comprehensive, end-to-end solution that empowers payers to deliver the meaningful improvements their members want and need.”
Veradigm has also experienced significant growth in Veradigm Payer Analytics which is a comprehensive solution that supports payers’ risk adjustment and quality efforts to help close quality gaps and enhance financial performance, improve risk and quality scores, and deploy the right intervention, with the right provider, at the right time.
Veradigm is making strides in engaging customers and prospects with a full suite of end-to-end solutions. The Company is navigating EDI cross-sell opportunities with two large health plan clients and was verbally awarded Vendor of Choice (VOC) status from a 4.5-Star health care system to provide Health Plan analytics and Provider Engagement solutions, with the potential to include Submissions as well as expand current Clearinghouse contracts.
“We believe that Veradigm is uniquely positioned to drive value by combining a proven, end-to-end solution with provider and member engagement solutions to support payer strategic objectives,” said Rick Poulton, Veradigm Chief Executive Officer. “Only Veradigm combines a comprehensive offering with a large-scale provider network, patented technology and methodology, along with third-party validation of the effectiveness of our solutions.”
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com , or find Veradigm on LinkedIn , Facebook , Twitter , and YouTube
© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.
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Investors:
Jenny Gelinas
312-506-1237
jenny.gelinas@veradigm.com
Media:
Concetta Rasiarmos
312-447-2466
concetta.rasiarmos@veradigm.com