February 12th, 2014
KING OF PRUSSIA, Pa., Nov. 18, 2013 /PRNewswire/ – HealthQx, a company that analyzes big healthcare data market-by-market to score physicians and hospitals compared to their peers, has been named Marcum Innovator of the Year in the small business Healthcare category.
HealthQx, based in King of Prussia, Pennsylvania, beat 18 nominees in its category in the Philadelphia region to take the Award. The presentation was held at Philadelphia’s Franklin Institute November 14.
Mark McAdoo, HealthQx CEO commented, “This award comes a few months after we won a five-year, multi-million dollar contract to employ our CareQx Software-as-a-Service (SaaS) Solution to help direct millions of veterans to top-tier specialty physicians at the best price. It’s been a great year.”
One of the judging criteria for the Award was the impact the entrant’s innovation had on the Greater Philadelphia area. HealthQx added five new positions, including heads of business development and product management, in 2013 to support company growth.
“Given today’s performance-based healthcare landscape our CareQx cloud-based solution apparently struck a chord with the judges,” Bill Conlan, the company’s founder and COO, added.
HealthQx specializes in data analytics and decision support software to bring transparency to the healthcare industry. The company measures healthcare values market-by-market, nationwide, scoring physicians and hospitals compared to their peers on quality and cost-efficiency. The goal: to help patients and their physicians find quality care at the most affordable price.
The company’s CareQx solution delivers analysis on quality and cost ratings of physicians and hospitals nationwide. This valuable utilization of big healthcare data can help health plans, self-insured employers, health systems – particularly Accountable Care Organizations (ACOs) and patients, who are the ultimate users of healthcare services, make informed decisions.
Individual investors and Ben Franklin Technology Partners, one of America’s “longest-running technology-based economic development programs,” provided early stage funding for HealthQx.
About MARCUM and the Award
Marcum LLP ranks among the top 20 independent public accounting and advisory services in America. Marcum Innovator of the Year competitions take place to honor innovation in healthcare, business management, technology and energy. The Philadelphia region awards were presented by Marcum and Region’s Business magazine and supported by multiple sponsors, including PNC Bank, First Niagara, and Wells Fargo.