Leading the provider data industry with technology that goes beyond roster automation
MADISON, October 21, 2024 /PRNewswire/ — Veda, a health technology company solving the industry’s most complex provider data challenges, announced today their systems have saved leading health plans 59,758,547 hours of administrative work in the last five years. (Equivalent to a full-time healthcare business staff member working 28,730 years.)
Veda performs work for healthcare businesses in all 50 states and has automated the processing of nearly 2 billion provider records since January 2019. (1,792,756,400 rows of provider data from healthcare rosters and network data as of October 2024. Source: Veda Platform Internal Reporting.)
Get the story behind Veda’s claims: REPORT | Veda’s Automation Eliminates Over 59 Million Hours of Administrative Healthcare Tasks…and Counting.
“While automation saves valuable time and money in the healthcare system, it also contributes to equitable access to care,” said Meghan Gaffney, Veda’s CEO. “Inaccurate directories do not meet patients’ needs and we are redefining what a positive healthcare experience can be with provider data that is not only delivered quickly but accurately.”
Veda’s patented technology uses AI and machine learning paired with human-in-the-loop oversight to revolutionize how provider data is collected, verified, and enhanced. A continuous data flow monitors and detects any changes in provider information across hundreds of thousands of sources to produce the most accurate provider data available, all without additional intervention from providers.
“From Veda’s founding, we’ve developed ethical and transparent AI practices that go beyond existing guidelines. With seven patents granted by the United States Patent and Trademark Office that prove our commitment to transparency and data that stays inside Veda’s tech stack—never leaving the U.S.—we are the leaders in responsible AI development.”
Dr. Bob Lindner, Veda’s Chief Science & Technology Officer
Earlier this year, Veda completed a blind third-party audit of its provider data which found Veda’s provider data accuracy levels to be 90%+ compared to the industry average of 48-55%. “At Veda, data accuracy isn’t just a checkbox—it’s our guaranteed metric of success,” said Gaffney.
Additionally, when measuring productivity gains for healthcare business staff (i.e., the time spent processing a row of data by a full-time employee at a health plan vs. the time spent by Veda’s automated solutions), Veda’s platform offers a significant gain in workforce productivity. No other company can produce these types of gains or guarantee accuracy levels as high as Veda.
Additionally, Veda announced that Jim Cronin has joined Veda as president and chief operations officer. With a proven track record and decades of experience with health plans such as Anthem and United, Jim is supporting Veda’s accelerated growth and expansion into more health systems, digital health groups, and payviders.
About Veda
Veda blends science and imagination to solve healthcare’s most complex data issues. Through human-in-the-loop Smart Automation, our solutions dramatically increase productivity, enable compliance, and empower healthcare businesses to focus on delivering care. Veda’s platforms are simple to use and require no technical skills or drastic system changes because we envision a future for healthcare where data isn’t a barrier—it’s an opportunity. To learn more about Veda, follow us on LinkedIn.
