ANN ARBOR, Mich., July 17, 2018 /PRNewswire/ -- Payformance Solutions, a leading provider of value-based reimbursement solutions and services, announced today that Alicia Torres will join the company as president and chief executive officer. Bringing over 30 years of healthcare experience, Torres comes to Payformance from research and consulting nonprofit Altarum, where she served as chief financial officer and senior vice president of new ventures, leading the transformation of several departments, including legal, accounting and IT.
In her new role, Torres will help set Payformance's vision and lead the company as it brings fresh technologies and services to market that aid payers and healthcare providers in successfully pursuing value-based reimbursement contracts. She will also lead new partnership and expansion initiatives that support the goal of accelerating the healthcare system's transition to value-based payment models.
"Value-based care is gaining traction but has some challenges to address before widespread adoption can occur," Torres said. "A lack of transparency and standard language between payers and providers mixed with conflicting financial goals stifles progress. Our vision with Payformance Solutions is to help eliminate confusion and uncertainty while transitioning to alternative payment models, optimizing an organization's ability to pursue mutually beneficial opportunities that will enhance patient care."
Torres brings deep healthcare industry knowledge along with a solid financial background and entrepreneurial drive, all of which are key assets in leading Payformance's growth. Earlier in her career, Torres founded and grew Rosebud Solutions, a healthcare software firm focused on process improvement solutions of critical assets and related personnel for hospitals, into a profitable company, resulting in a successful exit. Rosebud Solutions was acquired by McKesson, Inc. Prior to Rosebud Solutions, Alicia headed the Health Economics Group for Kinetic Concepts, Inc., and she held several financial positions, including Controller for a 450-bed hospital.
"For over 30 years, Alicia has worked tirelessly to create change in healthcare," said Linc Smith, president and CEO of Altarum and chairman of Payformance. "Her rich background in this industry and success in transforming companies makes her uniquely qualified to lead growth objectives within Payformance as the company simplifies the transition for payers and providers to alternative payment models. We are excited to welcome Alicia to the Payformance team."
About Payformance Solutions
Payformance Solutions is a value-based reimbursement service provider dedicated to advancing payment transformation in the healthcare industry. Leveraging our affiliation with nonprofit research and consulting organization Altarum, we launched a suite of services to equip payers and providers with the technical tools and resources required to design, evaluate, build, measure and negotiate value-based reimbursement contracts while aligning financial goals with improved patient outcomes. For more information, visit: www.payformancesolutions.com.
SOURCE Payformance Solutions