Draft:HHAeXchange: Difference between revisions
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== HHAeXchange == |
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HHAeXchange develops cloud-based homecare management solutions for providers, managed care organizations (MCOs), and state Medicaid agencies to streamline operations and communications, and achieve compliance with state and federal regulations.<ref>[https://www.healthcarebusinesstoday.com/how-agencies-and-states-can-prepare-ahead-of-jan-1-evv-deadline/]</ref> The company has three offices located in the United States.<ref>[https://issuu.com/ulster_business/docs/ulster_business-august_2018]</ref> |
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{{Short description|homecare management software company}} |
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{{Draft topics|north-america|business-and-economics|technology}} |
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⚫ | HHAeXchange was originally founded in 2007 in New York by Raphael Nadel as a payer management solution.<ref> |
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{{AfC topic|org}} |
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'''HHAeXchange''' develops homecare management solutions for providers, managed care organizations (MCOs), and state Medicaid agencies. |
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The company has three offices located in the United States.<ref>{{Cite web|url=https://issuu.com/ulster_business/docs/ulster_business-august_2018|title=Ulster Business - August 2018 by Ulster Business - Issuu|date=September 3, 2018|website=issuu.com}}</ref> Its cloud-based platform aims to connect state Medicaid programs, managed care organizations, homecare providers, and caregivers to streamline operations and communications, and achieve compliance with state and federal regulations.<ref>{{Cite web|url=https://www.healthcarebusinesstoday.com/how-agencies-and-states-can-prepare-ahead-of-jan-1-evv-deadline/|title=How Agencies And States Can Prepare Ahead Of Jan. 1 EVV Deadline - Healthcare Business Today|first=Kim|last=Glenn|date=December 20, 2022}}</ref> |
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⚫ | As reported in Home Health Care News, in 2020, HHAeXchange acquired Boston-based Annkissam LLC, a provider of software focused on state financial management service (FMS) organizations |
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⚫ | HHAeXchange was originally founded in 2007 in New York by Raphael Nadel as a payer management solution.<ref>{{Cite web|url=https://www.mccarthycapital.com/hhaexchange-ranks-on-the-2015-inc-5000-fastest-growing-company-list/|title=McCarthy Capital – Growing businesses in partnership with management.|website=www.mccarthycapital.com}}</ref> In 2008, the company went to market with its homecare management platform that offers scheduling, e-billing, referral management reports, business intelligence, electronic visit verification (EVV) compliance, and communications solutions.<ref>{{Cite web|url=https://www.bloomberg.com/profile/company/1281110D:US|title=Homecare Software Solutions LLC - Company Profile and News|website=Bloomberg.com}}</ref> |
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⚫ | Expanding globally, Silicon Republic reported on the opening of the HHAeXchange software development center in Belfast, Northern Ireland, in 2018.<ref>{{Cite web|url=https://www.siliconrepublic.com/jobs/hhaexchange-belfast-office|title=Homecare software vendor HHA Exchange to hire 50 in Belfast|first=Eva|last=Short|date=June 19, 2018|website=Silicon Republic}}</ref> |
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⚫ | As reported in Home Health Care News, in 2020, HHAeXchange acquired Boston-based Annkissam LLC, a provider of software focused on state financial management service (FMS) organizations supporting self-direction programs.<ref>{{Cite web|url=https://homehealthcarenews.com/2021/02/use-of-self-directed-home-care-services-jumped-20-in-2020/|title=Use of Self-Directed Home Care Services Jumped 20% in 2020|first=Andrew|last=Donlan|date=February 1, 2021|website=Home Health Care News}}</ref> At the time of the deal, Annkissam LLC supported home and community-based services (HCBS) agencies in 38 states.<ref name="auto">{{Cite web|url=https://markets.businessinsider.com/news/stocks/hhaexchange-acquires-annkissam-llc-creating-an-industry-leading-platform-for-home-and-community-based-services-agencies-hcbs-and-payers-1029662205|title=HHAeXchange Acquires Annkissam LLC, Creating an Industry-Leading Platform for Home and Community-based Services Agencies (HCBS) and Payers|website=markets.businessinsider.com}}</ref> Shasta Partners LLC acted as Annkissam's exclusive financial advisor on the transaction.<ref name="auto"/> The same year, HHAeXchange was approved as an alternate EVV solution provider by the Ohio Department of Medicaid, allowing homecare agencies to use the homecare management platform to achieve compliance with the state's EVV mandate.<ref>{{Cite web|url=https://www.benzinga.com/article/16566937|title=HHAeXchange Approved as an Alternate EVV Solution Provider by the Ohio Department of Medicaid|website=Benzinga}}</ref> |
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⚫ | In 2022, CMS granted certification of the HHAeXchange EVV system as the State of New |
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⚫ | From 2020 to today, HHAeXchange has become the EVV aggregator for the states of Alabama, Minnesota, New Jersey, Illinois, Mississippi, Michigan and West Virginia.<ref>{{Cite web|url=https://insights.samsung.com/2021/07/19/what-are-the-evv-compliance-rules-in-your-state-4/|title=EVV compliance rules, state by state|first=Taylor Mallory|last=Holland|date=July 19, 2021}}</ref><ref>{{Cite web|url=https://hfs.illinois.gov/medicalproviders/electronicvisitverification.html|title=Illinois' Electronic Visit Verification (EVV)|website=hfs.illinois.gov}}</ref><ref>{{Cite web|url=https://www.healthmanagement.com/insights/weekly-roundup/february-22-2023/|title=February 22, 2023 - Health Management Associates|website=www.healthmanagement.com}}</ref><ref>https://www.michigan.gov/mdhhs/assistance-programs/medicaid/portalhome/electronic-visit-verification</ref> The company is also the state-funded EVV system for providers in Texas.<ref>{{Cite web|url=https://www.homecaremag.com/news/gentiva-selects-hhaexchange-support-its-homecare-agencies-4-us-markets|title=Gentiva Selects HHAeXchange to Support its Homecare Agencies in 4 U.S. Markets|date=August 22, 2023|website=HomeCare Magazine}}</ref> HHAeXchange created its Provider Experience Team in 2021 to support its payer business and provider onboarding process, enabling collaboration between payers and providers using its EVV platform.<ref>{{Cite web|url=https://www.benzinga.com/article/20937407|title=HHAeXchange Forms New Provider Experience Team to Support Expanding Payer Business and Enhance Provider Onboarding|website=Benzinga}}</ref> |
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===Software & Solutions=== |
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⚫ | HHAeXchange provides cloud-based healthcare software |
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⚫ | As of 2022, HHAeXchange expanded its services and officially launched Care Insights for Payers, a solution that enables payers to leverage caregivers' visit frequency with members to capture change-in-condition alerts and social determinants of health (SDOH) observations.<ref>{{Cite web|url=https://www.healthitanswers.net/health-it-business-news-financial-edition/|title=Health IT Business News, Financial Edition - September 1, 2022|first=Annmarie|last=Budniak|date=September 1, 2022}}</ref> |
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* Caribou Rewards, an incentive platform<ref>[https://hitconsultant.net/2023/03/17/hhaexchange-adds-six-solutions-providers-to-its-partner-connect-program/]</ref> |
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* Perry, a caregiver incentive program<ref>[https://hitconsultant.net/2023/03/17/hhaexchange-adds-six-solutions-providers-to-its-partner-connect-program/]</ref> |
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* Vitable Health, an online occupational health solution<ref>[https://hitconsultant.net/2023/03/17/hhaexchange-adds-six-solutions-providers-to-its-partner-connect-program/]</ref> |
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* Mobile Health and NY Best Medical, health screening providers<ref>[https://www.benzinga.com/pressreleases/21/07/p21954806/hhaexchange-expands-new-partner-connect-program-with-six-new-solution-providers]</ref> |
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* Showd.me, an eLearning solution<ref>[https://www.benzinga.com/pressreleases/21/07/p21954806/hhaexchange-expands-new-partner-connect-program-with-six-new-solution-providers]</ref> |
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⚫ | In 2022, CMS granted certification of the HHAeXchange EVV system as the State of New Jersey's EVV aggregator,<ref>{{Cite web|url=https://homehealthcarenews.com/2022/02/evv-likely-to-trigger-more-home-care-consolidation/|title=EVV Likely to Trigger More Home Care Consolidation|first=Andrew|last=Donlan|date=February 14, 2022|website=Home Health Care News}}</ref> while serving over 80 payers, 6,400 homecare agencies, 657,000 members, 674,000 caregivers and 64,000 back-office users.<ref>{{Cite web|url=https://www.homecaremag.com/news/hhaexchange-announces-growth-milestones|title=HHAeXchange Announces Growth Milestones|date=August 11, 2022|website=HomeCare Magazine}}</ref> |
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⚫ | Cressey & Company LP, a healthcare-focused private investment firm, completed a growth-oriented investment in HHAeXchange in 2018.<ref> |
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== |
==Software & Solutions== |
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⚫ | HHAeXchange supplements patient-caregiver communications and provides cloud-based healthcare software built from tools for scheduling and referrals, reporting, billing and payroll, clinical information gathering, and EVV compliance.<ref>{{Cite web|url=https://www.healthcarebusinesstoday.com/the-impact-of-covid-19-on-home-and-community-based-services-providers/|title=The Impact Of COVID-19 On Home And Community-Based Services Providers - Healthcare Business Today|first=Editorial|last=Team|date=September 20, 2022}}</ref> |
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⚫ | As reported by Fortune, HHAeXchange secured an investment from Hg, a global investor in software and services, in 2021.<ref> |
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⚫ | Founded in April 2021, HHAeXchange's Partner Connect program allows the company to partner with healthcare technology providers such as:<ref name="auto3">{{Cite web|url=https://hitconsultant.net/2023/03/17/hhaexchange-adds-six-solutions-providers-to-its-partner-connect-program/|title=HHAeXchange Adds Six Solutions Providers to its Partner Connect Program|first=Fred|last=Pennic|date=March 17, 2023|website=hitconsultant.net}}</ref> |
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* Caribou Rewards, an incentive platform designed to support employee recruitment, retention, and staff performance through gamification, recognition, and rewards<ref name="auto3"/> |
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* Perry, a caregiver incentive program supporting caregiver productivity and retention efforts<ref name="auto3"/> |
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* Vitable Health, an online occupational health solution that provides primary care health benefits for employees<ref name="auto3"/> |
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⚫ | * DailyPay, solution helping homecare hiring retention efforts<ref>{{Cite web|url=https://www.streetinsider.com/Press+Releases/HHAeXchange+Partner+Connect+Program+Achieves+137%25+Growth+in+2021%2C+with+Major+Expansions+Planned+for+2022/19552759.html|title=HHAeXchange Partner Connect Program Achieves 137% Growth in 2021, with Major Expansions Planned for 2022|website=StreetInsider.com}}</ref> |
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* Mobile Health and NY Best Medical, health screening providers<ref name="auto1"/> |
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* Showd.me, an eLearning solution<ref name="auto1"/> |
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⚫ | Cressey & Company LP, a healthcare-focused private investment firm, completed a growth-oriented investment in HHAeXchange in 2018.<ref name="auto2">{{Cite web|url=https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/hhaexchange-and-healthcare-investor-cressey-company-welcome-strategic-investment-from-software-investor-hg-to-accelerate-continued-growth-as-the-leading-homecare-management-solution-provider|title=HHAeXchange and Healthcare Investor Cressey & Company Welcome Strategic Investment From Software Investor, Hg, to Accelerate Continued Growth as the Leading Homecare Management Solution Provider | Financial Post}}</ref> In conjunction with Cressey & Company's investment, Andy Hurd, Partner at Cressey & Company, was appointed Chairman of HHAeXchange's Board of Directors.<ref>{{Cite web|url=https://markets.businessinsider.com/news/stocks/cressey-company-makes-growth-oriented-investment-in-saas-home-care-provider-hhaexchange-1027850946|title=Cressey & Company Makes Growth-Oriented Investment in SaaS Home Care Provider HHAeXchange|website=markets.businessinsider.com}}</ref> |
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==Second Investment== |
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⚫ | As reported by Fortune, HHAeXchange secured an investment from Hg, a global investor in software and services, in 2021.<ref>{{Cite web|url=https://fortune.com/2021/09/14/a-not-so-secret-secret-ingredient-in-mailchimps-new-12-billion-valuation/|title=A not-so-secret, secret ingredient in Mailchimp's new $12 billion valuation|website=Fortune}}</ref> The terms of the transaction were not disclosed, yet QuotedData, a trading name of Marten & Co Limited, recorded the investment to be about £24M (approximately $30.7M).<ref>{{Cite web|url=https://quoteddata.com/2021/09/hg-backs-hhaexchange/|title=Hg backs HHAeXchange|date=September 14, 2021|website=QuotedData}}</ref><ref>{{Cite web|url=https://markets.ft.com/data/announce/detail?dockey=1323-15133533-7ACU8O0632UOB65SB2BVNHLJDP|title=Hg invests in HHAeXchange – Company Announcement - FT.com|website=markets.ft.com}}</ref> William Blair & Company advised HHAeXchange and Cressey & Company on the transaction. Lincoln International LLC was advisers to Hg.<ref name="auto2"/> |
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== References == |
== References == |
Revision as of 15:39, 8 April 2024
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HHAeXchange develops homecare management solutions for providers, managed care organizations (MCOs), and state Medicaid agencies.
The company has three offices located in the United States.[1] Its cloud-based platform aims to connect state Medicaid programs, managed care organizations, homecare providers, and caregivers to streamline operations and communications, and achieve compliance with state and federal regulations.[2]
History
HHAeXchange was originally founded in 2007 in New York by Raphael Nadel as a payer management solution.[3] In 2008, the company went to market with its homecare management platform that offers scheduling, e-billing, referral management reports, business intelligence, electronic visit verification (EVV) compliance, and communications solutions.[4]
Expanding globally, Silicon Republic reported on the opening of the HHAeXchange software development center in Belfast, Northern Ireland, in 2018.[5]
As reported in Home Health Care News, in 2020, HHAeXchange acquired Boston-based Annkissam LLC, a provider of software focused on state financial management service (FMS) organizations supporting self-direction programs.[6] At the time of the deal, Annkissam LLC supported home and community-based services (HCBS) agencies in 38 states.[7] Shasta Partners LLC acted as Annkissam's exclusive financial advisor on the transaction.[7] The same year, HHAeXchange was approved as an alternate EVV solution provider by the Ohio Department of Medicaid, allowing homecare agencies to use the homecare management platform to achieve compliance with the state's EVV mandate.[8]
From 2020 to today, HHAeXchange has become the EVV aggregator for the states of Alabama, Minnesota, New Jersey, Illinois, Mississippi, Michigan and West Virginia.[9][10][11][12] The company is also the state-funded EVV system for providers in Texas.[13] HHAeXchange created its Provider Experience Team in 2021 to support its payer business and provider onboarding process, enabling collaboration between payers and providers using its EVV platform.[14]
As of 2022, HHAeXchange expanded its services and officially launched Care Insights for Payers, a solution that enables payers to leverage caregivers' visit frequency with members to capture change-in-condition alerts and social determinants of health (SDOH) observations.[15]
In 2022, CMS granted certification of the HHAeXchange EVV system as the State of New Jersey's EVV aggregator,[16] while serving over 80 payers, 6,400 homecare agencies, 657,000 members, 674,000 caregivers and 64,000 back-office users.[17]
Software & Solutions
HHAeXchange supplements patient-caregiver communications and provides cloud-based healthcare software built from tools for scheduling and referrals, reporting, billing and payroll, clinical information gathering, and EVV compliance.[18]
Partnerships
Founded in April 2021, HHAeXchange's Partner Connect program allows the company to partner with healthcare technology providers such as:[19]
- ADP, a global provider of payroll and cloud-based human capital management (HCM) solutions[19]
- Caribou Rewards, an incentive platform designed to support employee recruitment, retention, and staff performance through gamification, recognition, and rewards[19]
- Perry, a caregiver incentive program supporting caregiver productivity and retention efforts[19]
- Vitable Health, an online occupational health solution that provides primary care health benefits for employees[19]
- DailyPay, solution helping homecare hiring retention efforts[20]
- Home Care Pulse, an experience management and training service[21]
- Inflowcare, a customer relationship management (CRM) solution provider[22]
- Mobile Health and NY Best Medical, health screening providers[22]
- Showd.me, an eLearning solution[22]
- Keeper, an online app that allows employees instant access to pay they already earned but have not yet received[23]
First Investment
Cressey & Company LP, a healthcare-focused private investment firm, completed a growth-oriented investment in HHAeXchange in 2018.[24] In conjunction with Cressey & Company's investment, Andy Hurd, Partner at Cressey & Company, was appointed Chairman of HHAeXchange's Board of Directors.[25]
Second Investment
As reported by Fortune, HHAeXchange secured an investment from Hg, a global investor in software and services, in 2021.[26] The terms of the transaction were not disclosed, yet QuotedData, a trading name of Marten & Co Limited, recorded the investment to be about £24M (approximately $30.7M).[27][28] William Blair & Company advised HHAeXchange and Cressey & Company on the transaction. Lincoln International LLC was advisers to Hg.[24]
References
- ^ "Ulster Business - August 2018 by Ulster Business - Issuu". issuu.com. September 3, 2018.
- ^ Glenn, Kim (December 20, 2022). "How Agencies And States Can Prepare Ahead Of Jan. 1 EVV Deadline - Healthcare Business Today".
- ^ "McCarthy Capital – Growing businesses in partnership with management". www.mccarthycapital.com.
- ^ "Homecare Software Solutions LLC - Company Profile and News". Bloomberg.com.
- ^ Short, Eva (June 19, 2018). "Homecare software vendor HHA Exchange to hire 50 in Belfast". Silicon Republic.
- ^ Donlan, Andrew (February 1, 2021). "Use of Self-Directed Home Care Services Jumped 20% in 2020". Home Health Care News.
- ^ a b "HHAeXchange Acquires Annkissam LLC, Creating an Industry-Leading Platform for Home and Community-based Services Agencies (HCBS) and Payers". markets.businessinsider.com.
- ^ "HHAeXchange Approved as an Alternate EVV Solution Provider by the Ohio Department of Medicaid". Benzinga.
- ^ Holland, Taylor Mallory (July 19, 2021). "EVV compliance rules, state by state".
- ^ "Illinois' Electronic Visit Verification (EVV)". hfs.illinois.gov.
- ^ "February 22, 2023 - Health Management Associates". www.healthmanagement.com.
- ^ https://www.michigan.gov/mdhhs/assistance-programs/medicaid/portalhome/electronic-visit-verification
- ^ "Gentiva Selects HHAeXchange to Support its Homecare Agencies in 4 U.S. Markets". HomeCare Magazine. August 22, 2023.
- ^ "HHAeXchange Forms New Provider Experience Team to Support Expanding Payer Business and Enhance Provider Onboarding". Benzinga.
- ^ Budniak, Annmarie (September 1, 2022). "Health IT Business News, Financial Edition - September 1, 2022".
- ^ Donlan, Andrew (February 14, 2022). "EVV Likely to Trigger More Home Care Consolidation". Home Health Care News.
- ^ "HHAeXchange Announces Growth Milestones". HomeCare Magazine. August 11, 2022.
- ^ Team, Editorial (September 20, 2022). "The Impact Of COVID-19 On Home And Community-Based Services Providers - Healthcare Business Today".
- ^ a b c d e Pennic, Fred (March 17, 2023). "HHAeXchange Adds Six Solutions Providers to its Partner Connect Program". hitconsultant.net.
- ^ "HHAeXchange Partner Connect Program Achieves 137% Growth in 2021, with Major Expansions Planned for 2022". StreetInsider.com.
- ^ https://www.cbinsights.com/investor/home-care-pulse
- ^ a b c "HHAeXchange Expands New Partner Connect Program with Six New Solution Providers". Benzinga.
- ^ https://homecaretechreport.com/article/3577
- ^ a b "HHAeXchange and Healthcare Investor Cressey & Company Welcome Strategic Investment From Software Investor, Hg, to Accelerate Continued Growth as the Leading Homecare Management Solution Provider | Financial Post".
- ^ "Cressey & Company Makes Growth-Oriented Investment in SaaS Home Care Provider HHAeXchange". markets.businessinsider.com.
- ^ "A not-so-secret, secret ingredient in Mailchimp's new $12 billion valuation". Fortune.
- ^ "Hg backs HHAeXchange". QuotedData. September 14, 2021.
- ^ "Hg invests in HHAeXchange – Company Announcement - FT.com". markets.ft.com.