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Valence Health Reports Rapid Acceleration in Revenue, Company Growth
|By Business Wire
|August 6, 2014 08:09 AM EDT
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
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:
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
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