|By PR Newswire||
|November 27, 2012 02:01 PM EST||
CHICAGO, Nov. 27, 2012 /PRNewswire/ -- Valence Health, a leading supplier of population management and reimbursement risk management services and technology for healthcare providers, today announced that it is on pace to nearly double revenue in 2012. The 300-person firm projects to see revenues exceed $31 million in 2012, up 75% from 2011. The growth results from significant expansion in all lines of the company's business, which include consulting, technology and ongoing outsourced services.
"The growth we are experiencing is the direct result of offering proven solutions in this new world of value-based reimbursement," said Valence Health CEO Phil Kamp. "We've been helping provider organizations analyze, accept and manage financial responsibility for the care they provide for over 15 years. Policy makers and the market increasingly understand that aligning financial risk and quality leads to better healthcare at a lower cost."
To help Valence manage and continue its aggressive growth path, the company recently added several key new executives.
Eric Mollman is Valence Health's new Chief Financial Officer. He joins the company with more than 25 years of senior financial leadership experience. He has built and led several high performing financial teams, often in private equity environments, and has overseen numerous M&A transactions in a variety of technology and healthcare settings. Immediately prior to joining Valence, Mr. Mollman was the Senior Vice President & Chief Financial Officer for Staywell Health Management, a private equity-backed provider of population health management solutions. At Staywell, Mr. Mollman oversaw all financial and legal aspects of the company and helped drive a major expansion of EBITDA margin for the growing company. Before Staywell, Mr. Mollman also helped guide population health management company Focused Health Solutions through a significant technology and service expansion to its eventual sale as the company's Chief Financial Officer. Mr. Mollman has also held senior financial positions with Pacific Datavision, Neoworld Communications, and Banc One. Mr. Mollman holds an MBA from the University of Chicago, and a BA from Harvard College.
Kevin Weinstein joins the company as Chief Marketing Officer, with more than a decade of experience in senior marketing roles for public and private healthcare companies. Previously, Mr. Weinstein served as the Vice President of Marketing for ZirMed, a premier revenue cycle management company serving more than 110,000 providers. During his time at ZirMed, the company grew by more than 50% and expanded into the acute care market. Prior to that, he ran marketing and sales operations for Allscripts' largest business unit as Vice President of Marketing and Sales Operations. Earlier in his career, Mr. Weinstein worked with a variety of large and small companies as both a venture capital investor and management consultant. Mr. Weinstein holds an MBA from the JL Kellogg School of Management at Northwestern University and a BA from Colgate University.
Healthcare data analytics and technology veteran Prasanna Dhungel now serves as Valence Health's Vice President of Product Development. Mr. Dhungel has consulted to some of the industry's highest profile growth companies, working independently and on behalf of several private equity and venture capital firms, including Psilos Group, Bessemer Venture Partners and Welsh, Carson, Anderson & Stowe. Earlier in his career, as Vice President of Technology Services, he created, grew and oversaw an international technology practice at D2Hawkyee, until that company was successfully sold to Verisk. He holds an MBA from the JL Kellogg School of Management at Northwestern University, MEng from Princeton University, and BS with Honors from Cornell University.
About Valence Health:
Valence Health is among the nation's leading companies to help healthcare providers better manage their patient populations and accept financial responsibility for the quality of the care they provide. With unique data collection and analysis tools, Valence Health has emerged as a leader in population management, serving dozens of clients from small physician groups to the Cleveland Clinic. At the same time, in-depth actuarial analysis, combined with operational excellence allows Valence to not only advise but also provide ongoing services to provider organizations operating under various value-based reimbursement models. From risk-based contracting to accountable care organizations (ACOs) to administering provider-sponsored health plans, Valence has been helping providers appropriately accept and manage financial responsibility while improving clinical quality since 1996. With headquarters in Chicago, and four other office locations, Valence Health solutions help manage the health of over 13 million patients nationwide. For more information, visit www.valencehealth.com.
SOURCE Valence Health