Veradigm Building Momentum Across All Markets

Rhea-AI Summary

Veradigm Inc. (NASDAQ: MDRX) announced robust fourth quarter performance, adding significant new business across payer, life science, and provider markets. The Payer segment grew by 26% annually, adding 6 new clients. In the Provider market, there was a remarkable 200% year-over-year increase in revenue cycle management clients, totaling 30 new clients. Moreover, Veradigm Life Science signed over 20 agreements in Q4, leveraging its de-identified patient dataset. The company aims to enhance interoperability and integration to improve healthcare outcomes.

Positive

• 26% annual growth in Payer business with 6 new clients added in Q4.
• Over 200% year-over-year growth in Provider revenue cycle management clients with 30 new clients.
• Addition of 484 new practices in clinical solutions during Q4.
• More than 20 new agreements signed in Life Science, showcasing data utilization.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Veradigm Inc. (NASDAQ: MDRX) reports today strong fourth quarter new business results across all markets including the payer, life science, and provider markets.

The Veradigm Payer business added 6 net-new regional and national payer clients in Q4, representing +26% new business growth for the full year, along with expanding business among current clients, worth millions of dollars in total annual contract value. As healthcare evolves toward interoperability, Veradigm’s interoperability focused solutions are leading this effort among payers.

In the Veradigm Provider market, the company added 30 new revenue cycle management clients in the fourth quarter, contributing to over 200 percent year-over-year client growth. Additionally, the company’s clinical solutions continued to experience growth in the fourth quarter, adding a total of 484 new practices, across all solutions including many multi-specialty practices.

Veradigm Life Science continues to expand the utilization of its significant de-identified patient dataset with top tier life science companies, and commercial partners. During the fourth quarter more than 20 data, research study, and media agreements were signed. This momentum is partially being driven via the Veradigm Network and its strategic partnership with HealthVerity, a leader in privacy-protected data exchange.

As the Veradigm Network expands, Veradigm continues to integrate offerings to drive improved clinical and financial outcomes for its clients.

“Veradigm is well-positioned for growth because we offer unmatched connectivity, scale, data and expertise that is needed to address the challenges faced by healthcare providers, payers and the life sciences alike,” said Tom Langan, Veradigm President and Chief Commercial Officer.

About Veradigm®

Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions, all working together to transform healthcare insightfully. For more information on Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, and YouTube

© 2023 Veradigm Inc. and/or its affiliates. All Rights Reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005296/en/

Investors:

Jenny Gelinas

312-506-1237

jenny.gelinas@veradigm.com

Media:

Concetta Rasiarmos

312-447-2466

concetta.rasiarmos@veradigm.com

Source: Veradigm Inc.

FAQ

What are the recent business growth results for Veradigm Inc. (MDRX) in Q4?

Veradigm Inc. reported strong fourth quarter results, with a 26% growth in the Payer business and 30 new clients in the Provider market.

How many new clients did Veradigm add in the Provider segment in Q4 2023?

Veradigm added 30 new revenue cycle management clients in the Provider segment in Q4 2023.

What is the significance of the agreements signed by Veradigm during Q4 2023?

Veradigm signed over 20 agreements in Q4 2023 in the Life Science segment, indicating strong demand for its de-identified patient dataset.

What was the year-over-year client growth percentage for Veradigm's Provider market?

The Provider market experienced a remarkable over 200% year-over-year client growth.

How does Veradigm plan to improve healthcare outcomes?

Veradigm aims to enhance interoperability and integration of offerings to drive better clinical and financial outcomes for clients.