Change Healthcare is a company that is revolutionizing the healthcare industry. With its cutting-edge technologies and innovative solutions, Change Healthcare offers a unique approach to optimizing the entire health system. Their mission is simple yet extremely ambitious – to provide all healthcare professionals with the tools they need to deliver better patient care. From physicians to hospitals to health plans, every party involved can benefit from Change Healthcare’s comprehensive suite of services.
Whether you’re a patient seeking better care or a healthcare professional looking to streamline your operations, Change Healthcare has got you covered. Their platform combines cutting-edge technology with unparalleled expertise to deliver powerful solutions that enable everyone to work smarter, not harder. Whether you need to automate your processes, optimize your revenue cycle, or manage your clinical data, Change Healthcare has the experience and expertise to help you succeed. They understand that today’s healthcare landscape is constantly evolving, and they are committed to helping stakeholders adapt to new challenges and opportunities.
In conclusion, Change Healthcare is a forward-thinking company that is redefining the healthcare industry. Through its innovative solutions and unparalleled expertise, Change Healthcare is empowering healthcare professionals to deliver the best possible patient care. From providing cutting-edge technology to optimizing revenue cycles, Change Healthcare is dedicated to helping everyone work smarter, not harder. If you’re looking for a company that can help you navigate today’s complex healthcare landscape, look no further than Change Healthcare.
Introduction to Change Healthcare
Change Healthcare is a healthcare technology company that specializes in providing innovative solutions to healthcare providers, payers, and patients. With a focus on improving healthcare, the company uses cutting-edge technology to transform the way healthcare is delivered and managed.
The company was founded in 2007 and is headquartered in Nashville, TN. Today, Change Healthcare serves over 2,200 customers across the United States, providing solutions that enhance efficiency, reduce costs, and improve patient outcomes.
What Does Change Healthcare Do?
- Provides revenue cycle management solutions to hospitals and medical practices
- Offers analytics and reporting tools to improve healthcare operations
- Facilitates the exchange of healthcare information between providers, payers, and patients
How Does Change Healthcare Add Value?
Change Healthcare adds value in several ways. First, the company offers a comprehensive suite of solutions that address the challenges facing healthcare providers and payers. From revenue cycle management to analytics and reporting, Change Healthcare’s solutions are designed to enhance efficiency, reduce costs, and improve patient outcomes.
Second, the company leverages cutting-edge technology to transform the way healthcare is delivered and managed. This includes tools for interoperability, data analytics, and artificial intelligence.
Finally, Change Healthcare is committed to collaboration and innovation. By working closely with healthcare providers, payers, and patients, the company is able to develop solutions that meet the ever-changing needs of the healthcare industry.
The Future of Change Healthcare
As the healthcare industry continues to evolve, Change Healthcare is poised to play a critical role in shaping its future. With a commitment to innovation and collaboration, the company is well-positioned to develop new solutions that improve the quality of care, reduce costs, and enhance the patient experience.
| Year Founded | Headquarters | Number of Customers |
|---|---|---|
| 2007 | Nashville, TN | 2,200+ |
Overall, Change Healthcare is a healthcare technology company that is committed to improving the quality of care, reducing costs, and enhancing the patient experience. Through its innovative solutions and commitment to collaboration, the company is helping to transform the way healthcare is delivered and managed.
History of Change Healthcare
Change Healthcare is a healthcare technology company that provides data and analytics driven solutions to help improve clinical, financial, and patient engagement outcomes. The company was founded in March 2007 as Emdeon, a spin-off of WebMD. In 2015, Emdeon changed its name to Change Healthcare to better reflect the company’s commitment to driving positive change in healthcare through innovative technology solutions.
- Emdeon’s origins date back to the 1980’s when it was known as WebMD Provider Services. Over the years, the company evolved and expanded through strategic acquisitions, including its purchase of Envoy Corporation in 2005, a leading healthcare revenue cycle management company.
- With its focus on simplifying healthcare administration and reducing administrative costs, Emdeon quickly became a major player in the healthcare industry. In 2011, the company went public, listing on the New York Stock Exchange under the ticker symbol “EM.” The IPO raised $367 million, making it one of the largest health IT IPOs in history at the time.
- In 2018, Change Healthcare announced plans to merge with the healthcare IT business of McKesson Corporation, creating a new company with a combined value of approximately $11 billion. The transaction was completed in early 2019, with the new company retaining the name Change Healthcare.
Today, Change Healthcare is one of the largest independent healthcare technology companies in the United States, with more than 15,000 employees and annual revenues exceeding $3 billion. The company offers a range of healthcare solutions, including:
| Product/Service | Description |
|---|---|
| Claims and clearinghouse | Electronic claims processing and payment solutions |
| Revenue cycle management | End-to-end billing and payment solutions |
| Interoperability | Health information exchange solutions |
| Analytics | Data analytics and business intelligence solutions |
With its rich history and focus on innovation, Change Healthcare is well positioned to continue driving positive change in healthcare for years to come.
Services Offered by Change Healthcare
Change Healthcare is a company that is dedicated to improving healthcare through innovative technology solutions. The company offers a wide range of services to help improve the healthcare system in the United States and beyond. In this article, we will take a closer look at some of the services offered by Change Healthcare.
Revenue Cycle Management
- Change Healthcare offers a comprehensive revenue cycle management solution that helps healthcare organizations manage the entire revenue cycle process from beginning to end.
- The solution includes tools for eligibility verification, claims management, denial management, and payment posting.
- Change Healthcare’s revenue cycle management solution is designed to help healthcare organizations improve their revenue, reduce denials, and improve the overall financial health of their organization.
Interoperability Solutions
One of the biggest challenges in healthcare today is the lack of interoperability between different healthcare systems and providers. Change Healthcare offers a range of interoperability solutions to help healthcare organizations improve communication and data sharing.
The company’s interoperability solutions include:
- Electronic Health Record (EHR) integration
- Health Information Exchange (HIE) services
- API integration
- Enterprise Master Patient Index (EMPI) solutions
Analytics and Performance Management
Healthcare organizations today generate vast amounts of data. Change Healthcare’s analytics and performance management solutions help healthcare organizations make sense of this data and use it to drive better decision-making.
The company’s analytics and performance management solutions include:
- Population Health Management
- Clinical Analytics and Reporting
- Financial Analytics and Reporting
- Claims Analytics and Reporting
| Analytics Solution | Functionality |
|---|---|
| Population Health Management | Identify risk, manage care, track outcomes |
| Clinical Analytics and Reporting | Monitor quality of care, track compliance with clinical guidelines |
| Financial Analytics and Reporting | Monitor revenue cycle, identify areas for improvement |
| Claims Analytics and Reporting | Analyze claims data, identify trends, prevent fraud and abuse |
Whether you are a healthcare provider, payer, or pharmaceutical company, Change Healthcare has a solution that can help improve your operations and outcomes. With its focus on innovation and technology, Change Healthcare is shaping the future of healthcare in the United States and beyond.
Change Healthcare’s Partnerships and Acquisitions
Change Healthcare has established numerous partnerships and acquisitions over the years to expand its healthcare offerings and enhance its overall capabilities in the market. Here are some notable ones:
- Optum360: In 2016, Change Healthcare merged its business and operations with Optum360, a subsidiary of UnitedHealth Group’s Optum. This partnership combined both companies’ technologies, expertise, and services to provide more comprehensive revenue and payment cycle management solutions to their clients.
- Intel Corporation: In 2019, Intel Corporation and Change Healthcare collaborated to develop blockchain-based technology solutions to improve data sharing, processing, and delivery in the healthcare industry. Their partnership resulted in a secure, tamper-proof network that enables the exchange and analysis of health data across different organizations, platforms, and devices.
- Capgemeni: In 2020, Change Healthcare teamed up with Capgemeni, a global consulting and technology services firm, to integrate its InterQual clinical decision support solutions with Capgemeni’s healthcare offerings. Their integration aims to improve the quality of care, reduce variations in clinical practice, and optimize clinical and financial outcomes for providers, payers, and patients.
In addition to its partnerships, Change Healthcare has also made several strategic acquisitions to strengthen its portfolio and market position. Some of them are:
- Connected Analytics: In 2019, Change Healthcare acquired Connected Analytics, a data analytics and business intelligence company that specializes in healthcare revenue cycle management. This acquisition expanded Change Healthcare’s AI-powered analytics capabilities to help clients better manage revenue performance and financial risk.
- PROMETHEUS Analytics: In 2020, Change Healthcare purchased PROMETHEUS Analytics, a healthcare analytics and risk modeling company that enables better care coordination, cost containment, and quality improvement. This acquisition combined PROMETHEUS Analytics’ expertise in value-based care and population health with Change Healthcare’s payment integrity and network management offerings.
Conclusion
Change Healthcare’s partnerships and acquisitions have allowed the company to diversify its offerings, enter new markets, and meet the evolving needs of the healthcare industry. By collaborating with other industry leaders and acquiring innovative technologies and solutions, Change Healthcare is well-positioned to drive positive change and deliver value to its customers.
Change Healthcare’s Impact on the Healthcare Industry
Change Healthcare is a transformative healthcare technology company that has disrupted the traditional healthcare industry, which has largely been resistant to innovation and change. Its innovative solutions have not only improved patient experience and outcomes but also reduced healthcare costs and improved overall efficiency. Here are some of the ways Change Healthcare has impacted the healthcare industry:
- Improvement of Patient Experience: Change Healthcare’s solutions have significantly improved patient experience by streamlining the healthcare process and making it more accessible. Its technology has made it easier for patients to set appointments, access their health records and make payments.
- Increased Efficiency and Reduced Costs: Change Healthcare’s solutions have facilitated healthcare providers in achieving improved efficiency while reducing costs significantly. Its financial and administrative systems have helped healthcare providers to automate revenue cycles, reduce claims denials, and optimize business processes resulting from savings from operational costs.
- Innovative Technology: Change Healthcare has pioneered the development of innovative solutions that have revolutionized the healthcare industry. From healthcare analytics, clinical decision-making, to payment reconciliation – to mention but a few, it has leveraged technology to automate traditionally manual processes, improve efficiency, and cut costs.
In summation, Change Healthcare has impacted the healthcare industry positively, leveraging technology to improve provider and payer landscapes and offer better patient experiences. The company has demonstrated that innovative technology solutions can significantly disrupt traditional industries, and pave the way for an industry-wide evolution.
Management and Leadership at Change Healthcare
Change Healthcare is a healthcare technology company that is focused on improving patient outcomes and reducing the cost of healthcare. The company provides solutions to healthcare providers, payers, and patients. Change Healthcare has a strong focus on management and leadership, which is reflected in its organizational structure and management philosophy.
The Leadership Team
- Neil de Crescenzo – President and Chief Executive Officer
- Fredrik Eliasson – Executive Vice President and Chief Financial Officer
- Timothy S. McInerney – Executive Vice President and General Counsel
- Tracy Byers – Executive Vice President and Chief Human Resources Officer
- Dr. Gautam M. Shah – Executive Vice President and Chief Technology Officer
Management Philosophy
Change Healthcare’s management philosophy is centered around the concept of “leading from the front.” The company believes that leaders should be hands-on, proactive, and lead by example. This philosophy is reflected in the way that the company is structured, with senior leaders having direct responsibility for the success of the organization.
Change Healthcare places a strong emphasis on accountability, integrity, and transparency. The company expects its leaders to be responsible for driving results and maintaining high ethical standards.
Organizational Structure
Change Healthcare has a flat organizational structure, which allows for clear communication and decision-making. The company is organized into four business units:
| Business Unit | Description |
|---|---|
| Healthcare Provider Solutions | Provides software solutions to healthcare providers |
| Healthcare Payer Solutions | Provides software solutions to healthcare payers |
| Data & Analytics Solutions | Provides data analytics solutions to healthcare organizations |
| Patient Engagement Solutions | Provides patient engagement solutions to healthcare providers and payers |
The leaders of each business unit report directly to the CEO, which allows for swift decision-making and the ability to respond quickly to the changing needs of the healthcare industry.
Overall, Change Healthcare’s management and leadership philosophy is centered around accountability, integrity, and efficiency. The company’s flat organizational structure and focus on leadership from the front allows for a streamlined decision-making process and a strong commitment to delivering results for its customers.
Future Outlook for Change Healthcare
Change Healthcare is a leading healthcare technology company that has been providing innovative solutions to the healthcare industry for more than two decades. The company has a strong focus on leveraging technology to improve healthcare outcomes, reduce costs, and increase efficiency. Change Healthcare operates in a rapidly evolving market that is being transformed by technological advancements, changing healthcare laws, and an increasing emphasis on value-based care. In this article, we will explore the future outlook of Change Healthcare and how it is poised to stay at the forefront of transforming healthcare.
Innovative Solutions
- Change Healthcare has a rich portfolio of solutions that cater to every aspect of the healthcare ecosystem. The company has a strong focus on delivering value-based care solutions that are focused on reducing costs and improving outcomes.
- Change Healthcare’s solutions leverage artificial intelligence, machine learning, and big data to provide actionable insights to healthcare providers. The company’s clinical decision support system enables providers to make informed decisions about patient care.
- The company’s revenue cycle management solutions help providers to optimize their billing and collections processes while reducing denied claims and revenue leakage.
Partnerships and Acquisitions
Change Healthcare has been expanding its capabilities through strategic partnerships and acquisitions. In 2018, the company announced a partnership with Adobe to bring digital tools to healthcare organizations. The partnership enables providers to securely capture and share patient information electronically, reducing the administrative load on providers and improving patient safety. The company has also made several acquisitions to expand its capabilities in areas such as medical imaging and telehealth.
Healthcare Interoperability
An increasing focus on interoperability is driving the growth of the healthcare technology market. Change Healthcare is at the forefront of this trend, working to connect healthcare systems and provide seamless data exchange across the healthcare ecosystem. The company’s Intelligent Healthcare Network enables secure, efficient, and cost-effective exchange of healthcare information, reducing the administrative burden on providers and improving patient outcomes.
Future Growth
| Opportunities | Challenges |
|---|---|
| Increasing demand for healthcare technology solutions | Intense competition from established players and emerging startups |
| A growing trend towards value-based care | Regulatory uncertainty and changing healthcare laws |
| Rising healthcare costs and the need for greater efficiency | Changing patient expectations and the need for consumer-centric solutions |
Change Healthcare is poised for significant growth in the coming years, driven by a growing demand for healthcare technology solutions, an increasing focus on value-based care, and a trend towards greater efficiency across the healthcare ecosystem. The company will need to navigate a range of challenges, including intense competition, regulatory uncertainty, and changing patient expectations. However, with its strong focus on innovation, strategic partnerships and acquisitions, and a deep understanding of the healthcare industry, Change Healthcare is well positioned to lead the transformation of healthcare in the years ahead.
Frequently Asked Questions about Change Healthcare
1. What is Change Healthcare?
Change Healthcare is a healthcare technology company that offers a variety of solutions to healthcare providers, payers, and patients.
2. What kind of solutions does Change Healthcare provide?
Change Healthcare provides solutions for healthcare providers, payers, and patients in areas such as revenue cycle management, clinical decision support, healthcare analytics, and patient engagement.
3. Who does Change Healthcare work with?
Change Healthcare works with healthcare providers, payers, and patients to improve healthcare outcomes and reduce costs.
4. How does Change Healthcare help improve healthcare outcomes?
Change Healthcare provides healthcare providers and payers with data analytics and clinical decision support tools to help them make informed decisions about patient care.
5. What is revenue cycle management?
Revenue cycle management is the process of managing a healthcare organization’s finances, including collecting payments from patients and insurance companies.
6. What is clinical decision support?
Clinical decision support is the use of technology to provide healthcare providers with information and guidance to help them make informed decisions about patient care.
7. What is patient engagement?
Patient engagement is the process of involving patients in their own healthcare, including providing them with information about their health and involving them in decisions about their care.
Closing Thoughts
Thanks for reading about Change Healthcare! We hope this article has provided you with some helpful information about our company and the solutions we provide. If you have any further questions or would like to learn more about how Change Healthcare can help your organization, please don’t hesitate to reach out. We look forward to hearing from you soon!