KING OF PRUSSIA, Pa., April 1, 2015 /PRNewswire/ -- HealthQx, an innovator of value-based payment analytics software and services for providers, health systems and insurers, announced today an investment from Health Enterprise Partners II, LP (HEP). HEP is a growth equity firm whose investors include 25 leading hospital systems and health plans.
HealthQx was founded in 2012 as a Software as a Service (SaaS) company. The HealthQx payment analytics platform enables providers, health systems and insurers to operationalize value-based reimbursement models. The HealthQx payment platform has uniquely integrated the Healthcare Incentives Improvement Institute's (HCI3) PROMETHEUS® payment models and rules engine to enhance their analytics platform capabilities to define and price episodes of care. "Our platform enables our customers to intelligently create and enter into various at-risk payment methodologies," said Bill Conlan COO and co-founder of HealthQx. "We're reducing the risk of these arrangements by providing insight into provider network performance, quality and cost efficiency. This is the actionable intelligence required to make these models work for payers and providers."
This investment will enable HealthQx to accelerate its go-to-market efforts as well as enhance the development of the software suite. "The healthcare industry is rapidly transitioning towards value-based care models," said Mark McAdoo, CEO and co-founder of HealthQx. "Our mission is to empower organizations with tools that enable them to succeed in this new operating environment, and deliver the highest value to their patients, members, and employees alike."
"HealthQx has built a highly scalable technology infrastructure that includes industry-leading analytics and access to longitudinal claims data," said David Tamburri, HEP General Partner. "Under the leadership of Mark and Bill, we see enormous prospects for HealthQx to support organizations deploying a bundled payment methodology." Mr. Tamburri will also join HealthQx's Board of Managers.
HealthQx (www.HealthQx.com) delivers SaaS, data-driven solutions to payers, providers and partners who are on the leading edge of the shift from fee-for-service to transparent, value-based healthcare. Its product offering enables organizations to implement bundled payment models.
About Health Enterprise Partners
Health Enterprise Partners (www.hepfund.com) invests primarily in privately held, middle market companies in the healthcare information technology and healthcare service sectors. HEP's strategy is to leverage its unique and extensive hospital system and health plan network, 25 members of which are investors in HEP's funds. HEP seeks to invest in companies that improve the quality of the patient experience, reduce the cost of healthcare, and improve operating margins for their customers, typically hospital systems and/or health plans.