Edifecs
- @DoubleGrazing: Thanks for reviewing!
- Edifecs is a member of Workgroup for Electronic Data Interchange[1] and a key driver in healthcare interoperability,[2] a particularly important topic in light of recent changes to Centers for Medicare & Medicaid Services regulation. Additionally, I believe the media coverage of the organization meets the GNG. I'd say the three most significant sources are GeekWire, Puget Sound Business Journal, and Healthcare IT News.
- Thanks again! Mary Gaulke (talk) 02:03, 19 August 2021 (UTC)
 | |
| Private | |
| ISIN | 🆔 |
| Industry | Healthcare technology |
| Founded 📆 | 1996 in Issaquah, Washington, U.S.[3] |
| Founder 👔 | |
| Headquarters 🏙️ | , Bellevue, Washington , U.S. |
Area served 🗺️ | |
Key people | Sunny Singh (Founder and Chairman) Venkat Kavarthapu (CEO) |
| Revenue🤑 | $111.8 million (2018)[4] |
| Members | |
Number of employees | 750 (2015[5]) |
| 🌐 Website | edifecs |
| 📇 Address | |
| 📞 telephone | |
Edifecs is an American healthcare technology company based in Bellevue, Washington.[6] It creates data and information management software for healthcare companies.[7] Its focus is on automating administrative tasks,[8] including tasks needed to protect patients' privacy in compliance with HIPAA.[9][10] As of 2014, the company had no debt and had received no outside investment.[10]
As of 2021, the company had more than 350 clients in the healthcare industry serving more than 215 million people;[11] as of 2017, it serviced 60 percent of the U.S. Medicaid program and 73 percent of Blue Cross Blue Shield plans.[12] In addition to its Bellevue headquarters, Edifecs has offices in Atlanta and Mohali, India, as well as an engineering center in Moldova.[13][14] Its competitors have included UnitedHealth Group's OptumInsight product (previously called Ingenix)[8] and Trizetto.[15]
History[edit]
Sunny Singh founded Edifecs in 1996,[8][14] and the company entered the healthcare industry in 2001.[5] The company profited from evolving government regulation of the healthcare industry, with revenues increasing 178% in the period from 2007 to 2010.[8] In 2011, the company released software that healthcare providers and payers could use to test their compliance with ICD-10.[16]
In 2019, USA Today listed them among the best places to work in the US.[17] In 2021, Venkat Kavarthapu became CEO of the organization, with Singh staying on as board chair.[18][19][20]
Research and publications[edit]
In 2012, Edifecs researched the impact on the healthcare industry of a delay in the ICD-10 compliance deadline in the U.S.[21] In November 2018, it published a study finding that small- and medium-sized health plans compose 83 percent of all healthcare coverage in the U.S.[22]
In early 2021, Edifecs worked with the Council for Affordable Quality Healthcare on a directory to facilitate sharing of data between health plans and developers of third-party applications.[23] The directory was published in April 2021[24] to facilitate compliance with Centers for Medicare & Medicaid Services rules for payers.[25]
Usage and growth[edit]
In 2014, Edifecs expanded into a larger office space in Bellevue.[6][26] By 2015, the company had grown to 750 staff. In July 2019 it opened an additional office in Atlanta.[27]
In 2017, the state of Nebraska moved its Medicaid program to the company's Smart Trading Platform.[12]
In 2018, Edifecs launched a machine learning and artificial intelligence platform called Smart Decisions.[28] This has been used by some health care and insurance companies to identify behaviors related to opioid abuse.[29]
In September 2020, the company received $1.4 billion from private equity firms Francisco Partners and TA Associates.[30][31][32] It announced the funding would be distributed to Edifecs employees according to how long they had worked at the company and how much company stock they owned.[14]
Edifecs acquired Talix, a San Francisco company that specializes in analyzing and managing patient data, in September 2021.[33] In December 2021, Edifecs acquired Health Fidelity, a risk adjustment startup based in San Mateo, California, that analyzes language in healthcare data to assess patient risks.[34][35]
References[edit]
- ↑ "Edifecs". Workgroup for Electronic Data Interchange (WEDI). Retrieved 19 August 2021.
- ↑ Miliard, Mike (27 April 2021). "New CAQH directory lists FHIR endpoints, 3rd party apps to help with CMS interoperability rule compliance". Healthcare IT News. Retrieved 23 May 2021.
- ↑ "Who is Edifecs?". Edifecs. Retrieved 12 February 2019.
- ↑ "Top 100 Vendors: Edifecs". Healthcare Innovation. 4 June 2018. Retrieved 21 March 2019.
- ↑ 5.0 5.1 Soper, Taylor (13 January 2015). "Launch Pads: Edifecs keeps employees healthy with massage room, rentable kayaks, living wall". GeekWire. Retrieved 12 February 2019.
- ↑ 6.0 6.1 Soper, Taylor (7 April 2014). "Healthcare software startup Edifecs moving to larger Bellevue office". GeekWire. Retrieved 12 February 2019.
- ↑ "Healthcare's Hottest No. 5: Edifecs". Modern Healthcare. 22 September 2012. Retrieved 12 February 2019.
- ↑ 8.0 8.1 8.2 8.3 Neurath, Peter (22 July 2011). "Edifecs soars with software for shifting health care sector". Puget Sound Business Journal. Retrieved 17 March 2019.
- ↑ James, Sally. "Outstanding Achievement in Health Care Information Technology". Seattle Business Magazine (March 2011). Retrieved 24 February 2019.
- ↑ 10.0 10.1 Truzzi, Gianni; Helm, Leslie; Levesque, John. "The 2014 Executive Excellence Awards: Sunny Singh". Seattle Business Magazine (February 2014). Retrieved 25 February 2019.
- ↑ Contreras, Briana (30 July 2021). "Gurpreet "Sunny" Singh, Edifecs: Difficult Roads Lead to Wonderful Destinations". Managed Healthcare Executive. Retrieved 9 August 2021.
- ↑ 12.0 12.1 Dietsche, Erin (18 July 2017). "Nebraska Medicaid program gets revamped with the help of Edifecs". MedCity News. Retrieved 12 February 2019.
- ↑ "Company Overview of Edifecs, Inc". Bloomberg. Retrieved 18 March 2019.
- ↑ 14.0 14.1 14.2 Campbell, Megan (13 August 2020). "Exclusive: After $1.5B deal, Edifecs CEO plans big payoff for employees". Puget Sound Business Journal. Retrieved 18 August 2020.
- ↑ Natale, Carl (22 October 2010). "Edifecs, Trizetto team on HIPAA 5010 compliance service". ICD10 Watch. Retrieved 4 April 2019.
- ↑ Goedert, Joseph (5 October 2011). "Edifecs Software Tests ICD-10 Compliance". Health Data Management. Retrieved 17 March 2019.
- ↑ Brown, Dalvin. "Google, Microsoft and Starbucks are some of the best places to work in the US, workers say". USA TODAY. Retrieved 2021-09-07.
- ↑ Campbell, Megan (8 July 2021). "Edifecs founder stepping down as CEO". Puget Sound Business Journal. Retrieved 16 July 2021.
- ↑ Kuhlman, Cara (8 July 2021). "Tech Moves: Edifecs names new CEO; Absci adds execs ahead of IPO; and more". GeekWire. Retrieved 16 July 2021.
- ↑ Kuhlman, Cara (14 May 2021). "Tech Moves: Riveter CEO relocates; ex-REI CEO joins UW business school; Edifecs adds execs; more". GeekWire. Retrieved 23 May 2021.
- ↑ Lewis, Nicole (2 March 2012). "ICD-10 Delay Worries Grow Among Health Leaders". InformationWeek. Retrieved 25 February 2019.
- ↑ Morse, Susan (27 November 2018). "Small and medium-sized health plans represent 83 percent of market". Healthcare Finance. Retrieved 12 February 2019.
- ↑ Todd, April (14 January 2021). "A New Era of Patient Engagement and Information Sharing". Healthcare Intelligence Network. Retrieved 19 January 2021.
- ↑ "CAQH Launches National Directory of FHIR Endpoints, Third-Party Apps". Managed Healthcare Executive. 25 April 2021. Retrieved 23 May 2021.
- ↑ Miliard, Mike (27 April 2021). "New CAQH directory lists FHIR endpoints, 3rd party apps to help with CMS interoperability rule compliance". Healthcare IT News. Retrieved 23 May 2021.
- ↑ Stiles, Marc (7 April 2014). "Health care software firm Edifecs expanding in Bellevue". Puget Sound Business Journal. Retrieved 25 February 2019.
- ↑ Ward, Brendan (16 July 2019). "Health IT company expands to East Coast with Atlanta office, plans to create 200 jobs". Atlanta Business Chronicle. Retrieved 17 September 2019.
- ↑ Monegain, Bernie (27 February 2018). "Edifecs launches machine learning, AI platform for hospitals and payers". Healthcare IT News. Retrieved 12 February 2019.
- ↑ Garnick, Coral (20 June 2019). "Edifecs CEO says Washington's middle market drives innovation and change". Puget Sound Business Journal. Retrieved 18 September 2019.
- ↑ Soper, Taylor (28 July 2020). "Seattle-area healthcare software company Edifecs lands private equity investment". GeekWire. Retrieved 2 August 2020.
- ↑ Pringle, Sarah (28 July 2020). "TA, Francisco Partners join hands in $1.4bn-plus deal for Edifecs". PE Hub. Retrieved 2 August 2020.
- ↑ Campbell, Megan (25 September 2020). "Edifecs CEO attributes low attrition rate to company culture". Puget Sound Business Journal. Retrieved 23 November 2020.
- ↑ Schubert, Charlotte (13 September 2021). "Health software company Edifecs acquires Talix in deal to boost value-based care". GeekWire. Retrieved 17 September 2021.
- ↑ Thompson, Joey (24 November 2021). "Edifecs buys California company in move to boost risk adjustment offerings". Puget Sound Business Journal. Retrieved 24 January 2022.
- ↑ Schubert, Charlotte (20 December 2021). "Health software company Edifecs continues acquisition run, swoops up Health Fidelity". GeekWire. Retrieved 24 January 2022.
Category:American companies established in 1996 Category:Health care companies based in Washington (state) Category:Health care companies established in 1996 Category:Technology companies established in 1996 Category:Technology companies of the United States
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