The most up-to-date, comprehensive, and accurate source of data. Your organization can access profiles of every active provider in the U.S.—over 3.5 million.
See how we’ve helped leading healthcare organizations achieve significant cost savings, improve data accuracy, and enhance patient care. Here, you will find our results, research, reports, and everything else our scientists are testing in the Veda Lab – no lab coat required.
At Veda we understand that every data point is an opportunity to improve the healthcare experience. And we can see the potential when data is no longer a barrier.
Pulse 2.0 Interview With CEO & Co-Founder Meghan Gaffney About The Healthcare Innovation Company
Pulse 2.0 — Veda is on a mission to accelerate the ability to access the care patients need, reduce financial loss in the healthcare system, and create efficiencies that drive healthcare innovation. Pulse 2.0 interviewed Veda CEO and co-founder Meghan Gaffney to learn more about the company.
Meghan Gaffney’s Background
During my time working on Capitol Hill during the development of the Affordable Care Act, I had a unique opportunity to hear diverse perspectives on the future of healthcare from hospital executives, plans and patient advocates. Data was a central theme in many of the challenges patients faced when accessing care, yet it wasn’t the focus of any proposed solutions. As a mom searching for care for my kids, I personally felt the same provider data gap that Veda solves today. My professional and personal experiences pointed to a desperately needed solution: patients need accurate information to make healthcare truly accessible. This led me to co-found Veda in 2015.
Formation Of Veda
The idea for Veda came from a combination of professional insight and personal experience. While working on Capitol Hill and experiencing the gaps in provider data firsthand, I realized the need for accurate healthcare information. A colleague introduced me to my co-founder, Bob Lindner, an astronomer skilled in AI tools for data processing. Together, we entered and won a hackathon, which focused on correcting errors in provider directories. This success led us to leave our previous fields and build Veda, addressing the critical need for accurate provider data in healthcare.”
“Today, we blend science and imagination to solve health care’s most complex data issues. Its solutions increase productivity, enable compliance and empower health care businesses to focus on delivering care. Veda’s platform requires no technical skills or system changes because the team envisions a future for health care where data isn’t a barrier — it’s an opportunity.
AI accountability in healthcare for business success
Chief Healthcare Executive – Many in the public are leery of AI. By committing to transparency and accountability, health organizations can emerge as leaders in innovative and responsible AI implementation.
AI is becoming integral to healthcare, revolutionizing everything from clinical outcomes to operational efficiencies. Stakeholders across the industry—payers, providers, and pharmaceutical companies—are leveraging AI technologies like machine learning, generative AI, natural language processing, and large language models to streamline processes and close gaps in care. These innovations are transforming aspects like image analysis and claims processing through data standardization and workflow automation.
However, integrating AI into healthcare is not without its hurdles. Public trust in AI has plummeted, dropping globally from 61 percent in 2019 to just 53 percent in 2024, with many skeptical about its application.
Certifying outcomes from AI-driven practices remains an unregulated territory and transparency around how algorithms impact health data practices and decision-making is lacking. For example, AI models designed for real-time automation can quickly process flawed data, leading to erroneous outcomes. AI transparency and ethical practices must evolve towards greater accountability and compliance to advance the industry.
However, for healthcare executives, establishing and showcasing ethical and transparent AI practices goes beyond following existing guidelines. By committing to transparency and accountability, organizations can position themselves as leaders in innovative and responsible AI implementation.
To effectively demonstrate these principles, healthcare business leaders should consider the following:
Implement rigorous validation protocols: Ensure that your organization’s AI algorithms undergo thorough and unbiased third-party validation. This step is crucial for verifying the accuracy, reliability, and safety of AI outputs. Validation helps to mitigate risks and ensures that AI systems operate as intended.
Promote transparency: Be transparent about how your AI models work and how they impact data processes. This includes disclosing the use of AI to patients, payers, and providers, and providing clear explanations of the AI’s role in decision-making processes. Transparency builds trust and helps stakeholders understand the value and limitations of AI technologies.
Commit to ethical standards: Adhere to ethical guidelines and best practices in AI development and deployment. This includes addressing potential biases, ensuring data privacy, and prioritizing patient safety. Ethical AI practices foster a culture of accountability and integrity within your organization.
Engage with stakeholders: Actively involve stakeholders in the development and implementation of AI systems. Gather feedback, address concerns, and make adjustments based on input from patients, providers, and others. Engaging with both internal and external stakeholders helps to build trust and ensures that AI solutions meet needs and expectations.
Stay ahead, informed, and compliant: Keep abreast of evolving regulations and guidelines related to AI in healthcare. Ensure that your AI systems comply with all relevant regulatory requirements. Staying informed and compliant helps to mitigate legal risks and demonstrates a commitment to responsible AI use.
August 13, 2024 – Veda Data Solutions, healthcare’s leading AI provider data platform, was named No. 417 on the 2024 Inc. 5000 list revealed today.
Among software companies, Veda was ranked 47th and the Madison, Wis.-based company was the 4th highest-ranked company on the list from Wisconsin. This is Veda’s second consecutive year on the Inc. 5000 list.
“At Veda, we are committed to improving the healthcare experience by creating the most accurate, curated provider data on the market and partnering with health plans and provider organizations to ensure their members have seamless access to appropriate care,” said Meghan Gaffney, CEO and co-founder of Veda. “Being named in the top 10 percent of high growth companies validates our solution and reflects the value our customers place on member satisfaction, patient access to care, and their commitment to delivering on Medicaid and Medicare requirements.”
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
“Veda is committed to Health Equity, and creating the most accurate provider data is how we make good on that promise,” said Gaffney. “I am so proud of our customers and team members who ensure members have access to timely, high-quality care.”
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5,000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
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 is simple to use and requires 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.
More about Inc. and the Inc. 5000
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
Healthcare de Jure host Matt Fisher is joined by Meghan Gaffney, CEO and Co-Founder of Veda. They discuss background on provider directories and difficulties of confirming accuracy of information; inconsistent application of accountability requirements; policy update on pending Congressional bills; discussion of how technology is promoting better data and presenting more readily.
From public policies and Federal initiatives to privacy and security, join host Matt R. Fisher as he and his guests discuss a smorgasbord of topics, giving hospitals, physicians, vendors and patients a seat at the table. Matt’s virtual conversations can be listened to on demand or heard on air. So don’t miss a minute of what’s on the menu.
Perspectives for Payers on Tackling Ghost Networks
MedCity News – Lawmakers have ghost networks in their sights, and payers can prepare now for policy changes.
It’s not uncommon for a patient, when searching their insurer’s provider directory, to find listings for physicians who are no longer practicing and no longer in-network, as well as inaccurate addresses, phone numbers, and websites. These phantom entries create “ghost networks” in health insurance.
For more than a year ghost networks have made headlines as an increasingly serious issue for payers, providers, and especially patients. Riddled with inaccurate data, these networks often lead to delayed care and surprise bills, significantly impacting member experiences and trust.
Frustrated patients have been contacting their elected officials to address the ubiquity of ghost networks. Legislators have been hearing from constituents that this problem is impacting patients’ lives and ability to get care–and they are doing something about it. Three bills–two in the Senate, and one in the House–have been proposed that specifically address inaccuracies in health insurance provider directories, with more stringent guidelines, tighter timeframes, published scores, and possible fines if providers fail to keep their directories compliant.
Payers have good reason to prepare for any regulation changes now as the traditional means of checking directory accuracy–call campaigns, attestations, or manual roster intake–are cumbersome and costly processes that have not proven effective.
What is proven? Automated solutions to meet the implementation windows and level of accuracy these new bills propose.
Policy reform initiatives
Three recent legislative efforts are aimed at addressing the root causes of ghost networks and enhancing healthcare access for patients.
U.S. Senators Michael Bennet (D-CO), Thom Tillis (R-NC), and Ron Wyden (D-OR) introduced the REAL Health Providers Act in October 2023. The bipartisan-supported bill is backed by the Senate Finance Committee and aims to ensure that Medicare Advantage plans keep accurate directories and protect their members–most of them seniors–from receiving surprise medical bills.
The House version of the REAL Health Providers Act – H.R. 7708 – was introduced in March 2024 by Representatives Greg Murphy (NC-03) and Jimmy Panetta (CA-19), among others. It mirrors the language in the Senate bill and aims to protect seniors from delayed care and unnecessary costs.
Meghan Gaffney Named a Women in Health IT to Know 2024
Women are working to shape and enhance the future of healthcare through health IT. These strong female leaders are modernizing administrative healthcare processes, cutting back on inefficiencies, standardizing workflows and more.
Meghan Gaffney. CEO and Co-founder of Veda (Madison, Wis.). As CEO and co-founder, Ms. Gaffney is instrumental in shaping Veda into a pioneering force in the data automation sector and a key player in the provider data management market. She oversees the strategic direction of the a Series B company, steering it through significant growth phases and forming partnerships with commercial plans and industry giants like Humana. Her leadership has also contributed to the company’s recent achievement of third-party validation for its AI technology. With over 15 years of experience in healthcare policy, Ms. Gaffney is adept at navigating complex regulatory environments and leveraging technology opportunities to address pressing issues such as “ghost networks” in healthcare provider directories. A 2023 EY Entrepreneurial Winning Women, Ms. Gaffney also contributes to the Entrepreneur Leadership Network and shares her insights on venture capital dynamics within the digital health startup ecosystem.
What Threat or Opportunity Should Health IT Leaders be Keeping Their Eye On?
Healthcare IT Today — With how fast the world of healthcare is evolving, it is impossible to stay up to date on every single thing that is happening, especially once you factor in the amount of work that is required in every health IT job. There is no way that health IT leaders can be aware of every single threat or opportunity they need to keep an eye on, or at least there’s no way to do that if they try to do it alone. Thankfully, we are here to make sure that none of you are left to handle all that work by yourself. In order to get a good range of insights and opinions on what threats and opportunities health IT leaders should be looking out for, we reached out to our incredibly talented Healthcare IT Today Community while at ViVE 2024. The following video is a compilation of their answers!
Veda’s provider data solutions help healthcare organizations reduce manual work, meet compliance requirements, and improve member experience through accurate provider directories. Select your path to accurate data.
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