Blues

Mark Farrah Associates Assessed Profit Margin Trends of Blue Cross Blue Shield Plans

Retrieved on: 
Wednesday, February 7, 2024

The leading BCBS affiliated insurers with over $14 billion in revenue as of September 30, 2023, include: Elevance (formerly Anthem), Health Care Service Corp. (HCSC), Guidewell Mutual Holding Group, Independence Blue Cross, and Blue Shield of CA.

Key Points: 
  • The leading BCBS affiliated insurers with over $14 billion in revenue as of September 30, 2023, include: Elevance (formerly Anthem), Health Care Service Corp. (HCSC), Guidewell Mutual Holding Group, Independence Blue Cross, and Blue Shield of CA.
  • In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), www.markfarrah.com , analyzed profit margins of BCBS plans, comparing year-to-date performance from third quarter 2020 to third quarter 2023.
  • Elevance Health reported the largest profit margin for top Blues plans with 4.9% in 3Q23.
  • With 54% of its enrollment through Medicaid plans, Independence Blue Cross experienced a marginal increase in profit margin from 3Q20 to 3Q21, from 1.8% to 2.1%, but decreased to 0.9% in 3Q22.

Performant Financial Corporation Announces Completion of Debt Refinancing

Retrieved on: 
Wednesday, November 1, 2023

Performant Financial Corporation (Nasdaq: PFMT) (Performant), primarily operating as Performant Healthcare Solutions, a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced today the completion of a refinancing of its existing credit facility with a new credit facility with Wells Fargo that has a $25 million revolving loan commitment, subject to customary asset-based loan borrowing base limitations.

Key Points: 
  • Performant Financial Corporation (Nasdaq: PFMT) (Performant), primarily operating as Performant Healthcare Solutions, a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced today the completion of a refinancing of its existing credit facility with a new credit facility with Wells Fargo that has a $25 million revolving loan commitment, subject to customary asset-based loan borrowing base limitations.
  • “We are excited about this new commitment from Well Fargo and the anticipated savings of up to 100 basis points in interest expense, combined with a smaller debt footprint,” said Simeon Kohl, CEO at Performant.
  • Performant is a leading provider of these services in several markets, including Medicare, Medicaid, and commercial healthcare.
  • Performant has been providing healthcare recovery audit services for more than a decade and works with leading national payers, regional payers, and Blues plans.

Blues and RAKwireless Announce Partnership to Streamline IIoT Product Development

Retrieved on: 
Thursday, October 26, 2023

Blues' Notecard is now available across RAKwireless' extensive portfolio of WisBlock modules, sensors and enclosures, simplifying global cellular connectivity for IIoT solutions.

Key Points: 
  • Blues' Notecard is now available across RAKwireless' extensive portfolio of WisBlock modules, sensors and enclosures, simplifying global cellular connectivity for IIoT solutions.
  • Together, Blues and RAKwireless will provide global customers with a simple and pre-configured cellular IIoT solution, Blues.ONE, and a composable WisBlock interface board, RAK13102.
  • "Our partnership with RAKwireless is revolutionary for IIoT advancement, bringing together Blues' scalability, security and simplicity, and the unique modularity of the WisBlock ecosystem.
  • With Blues' Notecard, RAKwireless' Blues.ONE and RAK13102 will simplify programming for engineers, allowing them to streamline IIoT product deployment," said Brandon Satrom, VP of Developer Experience and VP of Product at Blues.

Performant Financial Corporation to Report Third Quarter 2023 Earnings on November 7, 2023

Retrieved on: 
Wednesday, October 25, 2023

Performant Financial Corporation (Nasdaq: PFMT) (the Company), primarily operating under subsidiary Performant Healthcare Solutions, a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced today that the company will report its third quarter 2023 results after the market closes Tuesday November 7, 2023.

Key Points: 
  • Performant Financial Corporation (Nasdaq: PFMT) (the Company), primarily operating under subsidiary Performant Healthcare Solutions, a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced today that the company will report its third quarter 2023 results after the market closes Tuesday November 7, 2023.
  • The Company will also hold a conference call to discuss results at 5:00 pm (Eastern Time) that day.
  • A replay will be available approximately three hours after the call, through November 14, 2023 accessible by dialing 844-512-2921 (domestic), or 412-317-6671 (international).
  • Performant is a leading provider of these services in several markets, including Medicare, Medicaid, and commercial healthcare.

Beacon Healthcare Systems and Sonder Health Plans Launch Utilization Manager module

Retrieved on: 
Tuesday, October 10, 2023

HUNTINGTON BEACH, Calif., Oct. 10, 2023 /PRNewswire/ -- Beacon Healthcare Systems , leaders in compliance, appeals and grievances, enrollment, and SDoH solutions, has partnered with Sonder Health Plans to launch a Utilization Manager module ideal for local and regional health plans looking to improve or automate the UM process while improving quality and compliance.

Key Points: 
  • HUNTINGTON BEACH, Calif., Oct. 10, 2023 /PRNewswire/ -- Beacon Healthcare Systems , leaders in compliance, appeals and grievances, enrollment, and SDoH solutions, has partnered with Sonder Health Plans to launch a Utilization Manager module ideal for local and regional health plans looking to improve or automate the UM process while improving quality and compliance.
  • Beacon Healthcare Systems is known for solving problems for clients and has partnered with several plans including Blues plans to launch products such as Beacon Enrollment Manager, a Supplemental Benefits / SdoH module, and a Quality Management Module.
  • Beacon Healthcare Systems is especially pleased to partner with Sonder because the CEOs of both companies recognize that the right foundation of automation and technology are critical within a complex healthcare landscape.
  • "Our partnership with Beacon Healthcare Systems provides the infrastructure to best support our needs for scalability, compliance, quality, and performance."

Performant Financial Corporation Awarded New York State Medicaid RAC Contract

Retrieved on: 
Wednesday, October 4, 2023

Performant Financial Corporation (Nasdaq: PFMT) (Performant or the Company), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced that New York State’s Office of the Medicaid Inspector General (OMIG) awarded Performant its 2023 Recovery Audit Contractor (RAC) contract following an open and competitive procurement process.

Key Points: 
  • Performant Financial Corporation (Nasdaq: PFMT) (Performant or the Company), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced that New York State’s Office of the Medicaid Inspector General (OMIG) awarded Performant its 2023 Recovery Audit Contractor (RAC) contract following an open and competitive procurement process.
  • Simeon Kohl, Performant’s CEO, expressed his enthusiasm saying, “We are excited and proud to be named the exclusive RAC contractor for the State of New York’s Medicaid program.
  • This award builds on more than 15 consecutive years of successful collaboration between Performant and the Centers for Medicare & Medicaid Services (CMS) in our role as a fee-for-service Medicare RAC.
  • We appreciate New York State OMIG’s commitment to program integrity and gratefully acknowledge their faith in Performant.

Performant to Participate in CAQH Connect 2023 Conference

Retrieved on: 
Monday, September 25, 2023

Performant Financial Corporation (Nasdaq: PFMT) (the Company), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced that it will host a special presentation at the CAQH Connect 2023 Conference.

Key Points: 
  • Performant Financial Corporation (Nasdaq: PFMT) (the Company), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced that it will host a special presentation at the CAQH Connect 2023 Conference.
  • “Our partnership with CAQH has been instrumental in helping health plans, such as Priority Health, avoid incremental cost and inaccuracies as well as improving the speed to value,” stated Simeon Kohl, CEO at Performant.
  • Performant helps commercial healthcare and government payers enhance revenue and contain costs by identifying, preventing, and recovering waste, improper payments, and defaulted assets.
  • Performant is a leading provider of these services in several markets, including Medicare, Medicaid, and commercial healthcare.

Qualtrics Opens New State-of-the-Art Office in Reston, VA

Retrieved on: 
Thursday, September 21, 2023

The new office is located at Reston Station about 20 miles from Washington in Northern Virginia.

Key Points: 
  • The new office is located at Reston Station about 20 miles from Washington in Northern Virginia.
  • "Our expansion in Reston marks a significant milestone in Qualtrics’ growth and commitment to innovation, particularly artificial intelligence and machine learning," said Zig Serafin, CEO, Qualtrics.
  • Qualtrics will occupy 52,266 square feet across two full floors in the newly developed Reston Station complex which comprises residential buildings, office buildings, hotels, restaurants, and retail spaces.
  • The new office will house roles across all departments, including sales, professional services, engineering, operations, customer success and marketing, reflecting Qualtrics’ commitment to growth and investment in the region.

DermTech Announces Contracts With Highmark for the Foundational Assay of Its DermTech Melanoma Test (DMT)

Retrieved on: 
Tuesday, September 19, 2023

DermTech, Inc. (NASDAQ: DMTK) (DermTech or the Company), a leader in precision dermatology enabled by a non-invasive skin genomics technology, today announced agreements with Highmark Inc. (Highmark).

Key Points: 
  • DermTech, Inc. (NASDAQ: DMTK) (DermTech or the Company), a leader in precision dermatology enabled by a non-invasive skin genomics technology, today announced agreements with Highmark Inc. (Highmark).
  • The contracts, which are in addition to a favorable coverage policy, enhance access to the foundational assay of the DermTech Melanoma Test (DMT).
  • Highmark and its Blue-branded affiliates provide health insurance to approximately 7 million members in Pennsylvania, West Virginia, Delaware and New York.
  • The Pigmented Lesion Assay (PLA), the foundational assay of the DMT, is an innovative, non-invasive way to rule out melanoma with a 99 percent negative predictive value (NPV).

Blues Expands Notecard Offerings for Enhanced IIoT Connectivity

Retrieved on: 
Wednesday, September 20, 2023

MANCHESTER, Mass., Sept. 20, 2023 /PRNewswire/ -- Blues, a leader in IIoT technology enabling global connectivity solutions, today announced a series of enhanced offerings based on its flagship product, Notecard. The expanded Notecard offerings include Notecard Cell+WiFi, Notecard WiFi, Notecard LoRa, and Notecard Chips Edition options that enable additional reliable and hybrid connectivity, positioning accuracy, and scalable development.

Key Points: 
  • New offerings include Notecard Cell+WiFi, Notecard WiFi, Notecard LoRa and Notecard Chips Edition, providing customers with connectivity harmonization, connection flexibility and low-cost scaling
    MANCHESTER, Mass., Sept. 20, 2023 /PRNewswire/ -- Blues, a leader in IIoT technology enabling global connectivity solutions, today announced a series of enhanced offerings based on its flagship product, Notecard.
  • The expanded Notecard offerings include Notecard Cell+WiFi, Notecard WiFi, Notecard LoRa, and Notecard Chips Edition options that enable additional reliable and hybrid connectivity, positioning accuracy, and scalable development.
  • Blues' expanded Notecard offerings are available for purchase or ordering as of September 20, 2023, on the company's website: https://blues.io/ .
  • For more about how Blues currently serves Enterprise customers, please visit Blues use cases here: Enterprise Industrial IOT Use Cases | Blues .