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Edifecs

Edifecs is a healthcare technology company

Summary

Edifecs is a healthcare technology company with the mission to improve healthcare outcomes, reduce costs and accelerate innovation.

History

Sunny “Gurpreet” Singh, the founder of Edifecs, identifies himself as a “corporate misfit”.

Before he turned 30, Singh had worked at three different companies, realizing very quickly at each that none of the jobs fulfilled him. He wanted to use his expertise in solving supply chain and enterprise integration problems for a profitable organization that was making a meaningful difference.

This is where the idea to launch Edifecs came from. Singh believed that making the industry more efficient by managing information in real-time at the lowest possible cost would save enough to cover all uninsured Americans.

Edifecs was started using the founder’s consulting money, and his credit cards.

When Singh launched Bellevue-based Edifecs in 1996, he set some ambitious goals: no venture capitalists and no debt, but instead, growth and profit every year. He has guided the company through economic downturns and the recession and accomplished his goals: Edifecs is a profitable, self-funded, employee-owned company with no debt—as well as one of the fastest-growing health-care technology companies in the United States.

Edifecs helps improve the ways health-care organizations manage and leverage the information they exchange. It also streamlines and automates manual business processes such as enrollment, claims and payments management.

Edifecs’ first product was SpecBuilder. When HIPAA was introduced, the code was reworked to include its specifications and demand for SpecBuilder soared. Today, Edifecs is one of the fastest-growing companies in healthcare IT. They are a profitable, debt-free multinational company with over 350 customers serving more than 215 million lives.

Last year, Edifecs received significant private equity funding from TA Associates and Francisco Partners, leading private equity firms.

Products/Services

Edifecs is a frontrunner in bringing new technology for B2B data exchange in healthcare, streamlining business processes from “card to care” and reducing the industry burden associated with data provisioning at the points of enrollment, care, payment and reporting. With the launch of FHIR (Fast Healthcare Interoperability Resources) and new regulatory guidance from HHS (U.S. Department of Health & Human Services), the company emerged as a leader in easing the effort associated with achieving compliance with new federal rules and in making the healthcare consumer the primary stakeholder. Edifecs has more than 600 employees and is headquartered in Bellevue, Washington, with additional offices in Atlanta, Georgia and Mohali, India, and an engineering center in Moldova.

Mission

According to the Edifecs website, their mission is the following: “In a world that includes hundreds of millions of consumers and millions of care delivery sites and people, we deliver a single point solution to connect to all information exchange partners and to ingest, correlate and optimize digital health data. We are disruptors, scientists, data nerds, doctors and artists. And we believe information technology can revolutionize healthcare”.

Vision

Their corporate credo is passion, innovation, integrity, wisdom, collaboration and respect. These beliefs have helped them create a vibrant company culture where innovation and creativity flourish and careers thrive. They believe that the commitment to these values distinguishes them from the competition.

“And we apply them relentlessly to help improve the healthcare system, better serve our clients, and take care of our planet and one another,” the company mentioned.

Team

Sunny Singh – Chief Executive Officer

As president and CEO, Sunny is responsible for strategic direction and ensuring that Edifecs continues to produce the innovative solutions for which it is recognized. He regularly serves as a mentor to his professional colleagues and as an educator for industry associations. He has testified to the National Committee on Vital and Health Statistics and has hosted state congressional representatives at Edifecs headquarters. Sunny’s leadership has won him many accolades including being named one of the United States pre-eminent American Sikh business leaders and being asked to speak at the White House.

Sunny is committed to supporting socially conscious enterprises and initiatives. His nonprofit foundation, Sabtera, launched its pilot project in India with a schooling program that serves children from under-resourced communities.

Sunny holds a bachelor’s degree from IIT, New Delhi, and a dual master’s degree in Industrial Engineering and Computer Science from Montana State University.

Sumeet Bhatia – Vice President

As the vice president of Sales and Solutions Consulting, Sumeet Bhatia leads the North American sales and solutions consulting teams in solving some of the most complex problems healthcare IT customers are facing today.

Sumeet brings more than 21 years’ experience in sales, technical sales, enterprise architecture and integration in healthcare, state, federal government and supply chain.

Sumeet earned a bachelor’s degree in Computer Science from Mumbai University.

Ritesh Daryani – Vice President

As a Vice President of People & Culture, Ritesh leads the global HR and talent acquisition teams. Ritesh’s role entails partnering with senior leaders to provide innovative ideas and solutions to ensure that the organization maintains its innovative and supportive culture. Ritesh works to educate key leadership to practice and foster the core company values. He leads the creation and execution of the strategic vision for the human resources function, translating business strategy into people strategy.

Prior to Edifecs, Ritesh spent three years as the Director, Human Resources for eCommerce Platform Organization for Expedia. Before Expedia, he worked with Infosys, IBM, Computer Sciences Corporation, HCL Technologies Ltd, and General Electric (GE). Ritesh has broad expertise in Human Resources, spanning executive coaching, organizational development, mergers and acquisitions, performance management, compensation, staffing, and building and leading global HR teams.

Ritesh has a Ph.D. (ABD) and an MA in Industrial/Organizational Psychology from Seattle Pacific University, Washington and MBA in Human Resources from India.

Venkat Kavarthapu – Vice President

As Vice President of Product and Services, Venkat leads the Encounter Management and Data Science product lines and Professional Services and Product Support for all products.

Prior to joining Edifecs in 2009, Venkat spent 12 years at Wipro, leading program delivery and large customer engagements for global customers.

Venkat has a Bachelors degree in Engineering and an MBA from the Indian Institute of Management.

Dan Madden – Chief Financial Officer

Dan serves as CFO overseeing our financial strategy and providing strategic financial input to the senior management team. Dan has a diverse background in Finance and Administration of public and private equity-backed companies, spanning functions such as FP&A, Investor Relations, Accounting, SEC Reporting, M&A, Operations, and IT.

Prior to joining Edifecs, Dan served as EVP and CFO for Ellie Mae where he helmed the transition from a publicly-traded company to a private equity owned business and through the subsequent sale of the company to Intercontinental Exchange. Dan held CFO and finance leadership positions at Revel Systems, Cepheid, Symmetricom, Tellabs, and McKesson.

Dan began his career with Ernst & Young and holds a bachelor’s degree from California State University, Sacramento.

References

https://www.edifecs.com/about-us/company/leadership

https://www.linkedin.com/company/edifecs/

https://www.geekwire.com/2020/seattle-area-healthcare-software-company-edifecs-lands-private-equity-investment/

https://www.businesswire.com/news/home/20200728005292/en/TA-Associates-and-Francisco-Partners-Announce-Significant-Growth-Investment-in-Edifecs

https://www.crunchbase.com/organization/edifecs

https://www.youtube.com/watch?v=fCOdDrt-rQ8