Leading Cost Control Business on List of Top 20 Healthcare Companies in Texas
PLANO, TX, October 7, 2020 – Payer Compass, a leading provider of healthcare reimbursement technology and price transparency solutions, announced today that Inc. Media named the company to its annual list of the nation’s fastest-growing private companies. This marks the third consecutive year Payer Compass is achieving the esteemed recognition, from 2018 to 2020. Information released by Inc. also points to Payer Compass’ achievement at a more local level, garnering the No. 17 spot of the top healthcare companies in Texas and the No. 7 spot for the Dallas/Fort Worth Metroplex.
Each company on the Inc. 5000 list has a different story or path to success, but what they all have in common are innovation and a diligent, talented team. Payer Compass’ solutions for healthcare price transparency and cost containment currently serve more than 130 clients, representing more than 1,100 employer groups and over ten million covered lives, delivering more than $1.5 billion in claim savings.
“We’ve developed solutions that are scalable which positions us to meet the needs of our clients spanning across the health plan and self-funded markets,” said Greg Everett, Payer Compass President and CEO. “Achievements such as this help to show the marketplace that we deliver solutions that work.”
Payer Compass achieved three-year growth of 136% by expanding marketing efforts and business development strategy. The organization also made increased client value a priority by focusing on the continuous innovation of cost-saving technology solutions. The company’s core software platform, Visium™, is a purpose-built healthcare pricing engine and contract management system focused on addressing the complexities of Medicare, Medicaid, and Commercial claims pricing. With the rise of healthcare costs and the shift to alternative payment models, Payer Compass enables employer groups and health plans to realize significant savings by utilizing a Medicare-based reimbursement method because of its relativity to the true cost of care.
Companies on the 2020 Inc. 5000 list are ranked according to percentage revenue growth from 2016 to 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They must be U.S.-based, privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2019. The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million.
About Payer Compass
Payer Compass is dedicated to restoring rationality to the cost of care. We focus squarely on tackling the most elusive problems in today’s healthcare landscape: spiraling costs and associated lack of price transparency. For self-insured organizations, our innovations and services are driving down the costs of healthcare claims reimbursement. And for health plans, we are minimizing overall spend on claims pricing, administration, and processing. By combining our next-gen technology — Visium™, a multi-faceted pricing platform — with an emphasis on client success, Payer Compass is helping organizations control the cost of care. For more information, visit www.payercompass.com.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.