Veradigm Stock Price, News & Analysis

Veradigm (OTCMKTS: MDRX), a leading healthcare data and technology solutions provider, has been ranked as the top vendor for broad retrospective vendors in KLAS's Risk Adjustment 2024 report. The report highlighted the increasing demand for comprehensive risk adjustment solutions, including both retrospective and prospective capabilities.

Veradigm clients reported strong satisfaction with the company's suite of solutions, making it the most recommended vendor. Clients interviewed by KLAS noted significant outcomes, including increased ROI from retrospective risk adjustment solutions, more reliable submissions, and comprehensive validation processes.

Veradigm's risk adjustment solutions offer a full spectrum of services for health plans, supporting them in achieving operational goals and improving financial performance.

Veradigm Payerpath has been ranked the #1 overall vendor for end-to-end revenue cycle management (RCM) solutions by Black Book™ for the third consecutive year. This recognition highlights Veradigm's commitment to connecting providers, patients, and payers seamlessly.

Key features of Veradigm Payerpath include:

• Maximizing and accelerating revenue
• Streamlining communications with payers and patients
• Boosting profitability for practices of all sizes and specialties
• Upcoming ability to view and address open Gaps in Care from various payers
• Practice management platform agnostic
• Seamless interface with major systems

Veradigm Payerpath achieved top scores in several key performance indicators, including strategic alignment, innovation, integration, data security, and best of breed technology.

Veradigm (OTCMKTS: MDRX) announced positive impacts for orthopedic practices using its Coding Services. Key results in the first 12 months include:

• Reducing surgical claims payment cycle by up to 5-10%
• Increasing Relative Value Units (RVUs) by up to 3-5%

The service addresses challenges in complex surgical coding and staff shortages, helping practices improve revenue and documentation. Unity MSK, a multi-site orthopedic practice, reported significant results after implementing Veradigm Coding Services. The company's expertise in orthopedic-specific coding has helped Unity MSK combat increased denials and capture potential missing revenue.

Veradigm (OTCMKTS: MDRX) announced that Black Book Research ranked Veradigm Payer Analytics as the top overall payer analytics solutions vendor for 2024. This recognition highlights Veradigm's achievements in client satisfaction, reliability, innovation, and technology. Veradigm Payer Analytics offers comprehensive insights for health plans to improve outcomes and reduce costs by providing a holistic view of healthcare data. The solution supports various functional areas such as Finance, Risk Adjustment, Quality, and Network Management. Interim CEO Tom Langan emphasized the value of Veradigm's solutions in enhancing financial performance and quality scores.

Veradigm (OTCMKTS: MDRX) announced that its Payerpath platform has been rated the top provider of claims and clearinghouse solutions for small medical practices by Black Book Research for the third consecutive year. Payerpath achieved high scores in 11 out of 18 key performance indicators (KPIs) for small practices and seven KPIs for larger medical groups. The platform interacts with over 60 practice management systems and 3000 payers, processing over 450 million claims annually with a clean claims rate exceeding 98%. Payerpath aims to reduce the administrative burden on healthcare staff while improving patient experience.

Veradigm announces key leadership updates effective June 7, 2024. Tom Langan, President and Chief Commercial Officer (CCO), will become the interim Chief Executive Officer (CEO). Langan has been part of Veradigm since 2018, with over 25 years in life sciences and analytics. Lee Westerfield, interim Chief Financial Officer (CFO), extends his term through December 31, 2024. Current interim CEO, Dr. Yin Ho, will step down. The company will not make permanent executive appointments during its strategic alternatives exploration. Executive Chairman Greg Garrison expressed confidence in Langan's leadership and appreciation for Westerfield's continued contributions. Dr. Ho's tenure included the acquisition of ScienceIO and advancements in AI, positioning Veradigm as a leader in healthcare data intelligence.

Veradigm, a healthcare data and technology provider, announced it is exploring strategic alternatives to maximize shareholder value, potentially including a sale, merger, or other transaction. The company emphasizes there is no assurance that any transaction will be completed. Veradigm plans to maintain focus on its core business, which it describes as strong and profitable.

The firm reaffirmed its 2024 guidance, projecting revenues between $620 million and $635 million and adjusted EBITDA between $104 million and $113 million. As of March 31, 2024, Veradigm held $343 million in cash and cash equivalents and $208 million in debt, resulting in net cash of $135 million. J.P. Morgan Securities is the financial advisor, and Sidley Austin LLP is the legal counsel.