|By Business Wire||
|August 6, 2014 08:09 AM EDT||
Valence Health, a leading provider of clinical integration, population health and value-based care solutions, is announcing significant company growth so far in 2014, with first half year revenues up 51% from first half revenue’s a year ago.
“We’ve had the great fortune to serve an increasing number of healthcare provider organizations in the last three years, which in turn has helped us more than double our size over that time period,” said Phil Kamp, CEO of Valence Health. “We see a great future ahead of us as healthcare continues to adopt new models of value-based care.”
Valence Health’s explosive growth reflects their deep expertise in an area of great need and industry confusion: the adoption of new risk- and value-based care models. While most leaders and experts expect reimbursement models to significantly shift away from fee-for-service to value-based models, most hospital and health system executives still feel they lack the necessary expertise to thrive under these new models. For example, a research industry report suggested the vast majority (72%) of industry leaders expects such a transition to take place. However, many respondents did not feel equipped to handle the change, identifying significant gaps in population health and clinical analytics capabilities as well as readiness to implement payment bundling, one of many value-based care models.1
So far this year, the company has significantly expanded its core capabilities and team to support the increased demand for value-based care services. Since January, Valence Health has added 10 new clients, including Centegra Health and Wellness Network (CHWN), Health Choice Inc., Phoenix Children’s Hospital, and Lurie Children’s Health Partners Clinically Integrated Network, an affiliated organization of Lurie Children’s Hospital in Chicago. Additionally, the company has delivered more than 50 client-direct product enhancements in the past six months and has added more than 30 new quality metrics for healthcare providers.
“By working with the Valence Health team, we are better prepared to meet the challenges of today’s new healthcare environment,” said Scott Wilkerson, Executive Director of Lurie Children’s Health. “We have rolled out the Valence Vision solution across our network of more than 200 community pediatricians and 450 pediatric specialists, and are now able to capture data and develop evidence-based best practices to deliver superior care.”
“Partnering with Valence Health on our integrated network has enabled us to deliver better population health management services and programs to our patients in the most cost-effective manner possible,” said Jeff Schmidt, Senior Vice President, Clinical Integration & Payer Strategies for CHWN. “As we advance our population health efforts and expand our health insurance contracting, we need a proven partner like Valence Health.”
As part of its service enhancements, Valence Health announced the launch of the Valence Partner Network, a group of industry-leading health services firms that will offer integrated and complementary solutions to its client base of more than 120 hospitals and 39,000 physicians, which help manage the health of more than 19.5 million patients nationwide.
Valence Health’s workforce has also experienced steady growth of nearly 150% in the past three years, with the company now employing 470 experts in healthcare contracting, data analytics, physician engagement, provider-sponsored health plans, and technology interoperability. To accommodate its continued growth, Valence Health has leased 125,000 square feet at 540 W. Madison in Chicago, and plans to occupy the space later this year. In an event on Tuesday, Aug. 5, 2014, Illinois Governor Pat Quinn announced Valence Health’s plans to cement its future in Illinois by adding 500 new employees at its headquarters over the next five years.
“With a strong presence already in Chicago, Valence Health is really staking its future here in Illinois,” said Governor Quinn. “This is a show of faith in our healthcare and technology sectors, both important sources of new jobs and talent for our state.”
1 HealthLeaders Media Intelligence Report, 2014 Industry Survey: Forging Healthcare’s New Financial Foundation
About Valence Health:
Valence Health is a leading provider of value-based care solutions, helping hospitals, health systems and physicians better manage their patient populations and accept financial responsibility for the quality of the care they provide. With unique data collection and analytics solutions, Valence Health serves dozens of clients from physician groups to standalone hospitals to large IDNs. From risk-based contracting to accountable care organizations (ACOs) to administering provider-sponsored health plans, Valence Health has been helping providers since 1996. Headquartered in Chicago, with three other office locations, Valence Health serves 39,000 physicians and 120 hospitals, helping them manage the health of more than 19.5 million patients nationwide. Follow Valence Health on LinkedIn and Twitter.
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