Valify Named Company of the Year by CIOReview

Rhea-AI Summary

Valify, a healthcare cost management company based in Frisco, Texas, has been named “Company of the Year” by CIOReview in the 50 most promising healthcare solutions category. Valify utilizes a proprietary technology platform to analyze healthcare spending, helping hospitals reduce operational costs and financial risk. The company, acquired by HCA Healthcare, manages over $600 billion in categorized spend across 1,300 service categories, offering end-to-end cost management solutions to thousands of hospitals.

Positive

• Recognized as 'Company of the Year' by CIOReview, emphasizing its innovation in healthcare cost management.
• Utilizes proprietary technology to analyze spending, potentially improving operational efficiency for hospitals.
• Has access to a significant database of over $600 billion in categorized spend, aiding in identifying savings.

Negative

• None.

FRISCO, Texas--(BUSINESS WIRE)-- Valify, Inc., a healthcare cost management company exclusively dedicated to helping clients manage purchased services expense to reduce the overall cost of healthcare, has been named “Company of the Year” by CIOReview, a leading resource for innovative IT solutions.

Based in Frisco, Texas, Valify utilizes a proprietary technology platform to give healthcare systems in-depth analysis and spend visibility across a variety of service categories. The company’s analytics and contracting expertise helps hospitals identify, benchmark and mitigate financial risk thereby reducing the overall cost of operations. Valify Solutions Group is the first tech-enabled group purchasing organization exclusively dedicated to purchased services for healthcare.

“We are thrilled to be recognized by CIOReview for our accomplishments as Company of the Year in its 50 most promising healthcare solutions category,” said Les Popiolek, Valify’s chief executive officer. “This achievement underscores the material impact purchased services have on a hospital’s financial performance and is a testament to colleagues that have shaped our solution through innovation, hard work and a client-centered focus. We are grateful for our client and supplier relationships and look forward to advancing data-driven decision-making in healthcare procurement.”

Valify was previously recognized by CIOReview as one of the "50 Most Promising Healthcare Solution Providers” in 2019.

About Valify

Valify, Inc., an HCA Healthcare company, is the only healthcare cost management company exclusively dedicated to managing purchased services expense. Valify’s web-based technology platform uses proprietary machine learning algorithms which allow organizations to quickly identify and manage savings opportunities in over 1,300 purchased services categories. The Valify technology categorizes spend data, identifies savings opportunities and benchmarks against a database of over $600 billion in categorized spend. With a leading end-to-end cost management solution, Valify helps thousands of hospitals proactively manage expenses, increase staff productivity and realize significant savings.

About Valify Solutions Group

Valify Solutions Group, powered by Valify, is the first tech-enabled GPO program exclusively dedicated to purchased services for healthcare. VSG leverages data-driven market intelligence from $600 billion in spend categorized to generate savings for members and provides a comprehensive pre-negotiated purchased services contract portfolio. Members may access custom contracting specialists, proven spend analytics technology and expert advisory services to exponentially enhance savings beyond contract utilization.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220427005397/en/

Shara Smith

Shara@GetValify.com

972-963-5130

Source: Valify, Inc.

FAQ

What recognition did HCA's Valify receive in 2023?

Valify was named 'Company of the Year' by CIOReview for its healthcare solutions.

How does Valify help hospitals reduce costs?

Valify analyzes healthcare spending through its proprietary technology, identifying financial risks and cost-saving opportunities.

What is the significance of Valify's technology in healthcare?

Valify's technology leverages machine learning to manage over $600 billion in spend, enhancing expense management for hospitals.

When was Valify previously recognized by CIOReview?

Valify was recognized as one of the '50 Most Promising Healthcare Solution Providers' in 2019.

How many service categories does Valify manage?

Valify manages expenses across over 1,300 purchased services categories.