February 11th, 2014
McAdoo Joins Healthcare Data Analytics Startup, HealthQx As CEO
WAYNE, PA, April 8, 2013 – Investor and entrepreneur, Mark McAdoo has become the CEO of Wayne, Pennsylvania-based healthcare data analytics startup, HealthQx. McAdoo is not new to the company. He has been an adviser to HealthQx founder and COO, Bill Conlan, and an investor in the company.
HealthQx is currently developing its CareQx Software-as-a-Service (SaaS) solution for rating physicians and hospitals based on peer-to-peer quality and cost efficiency ratings and benchmarks.
“Mark has the talent our company needs. He has extensive experience in the healthcare software industry, and brings more than 18 years of experience in building and operating successful companies,” Conlan said.
McAdoo has been active in the software venture capital market and is on the board of a number of emerging growth technology companies, including Versify Solutions, a SaaS-based analytics software company.
He co-founded IntelliSource Healthcare Solutions, which he and his partner bootstrapped with no outside capital, and successfully exited through a sale DST in 2011.
Prior to founding IntelliSource, McAdoo was the founder and CEO of Frontline Solutions, a venture-capital-backed firm in the middle market workflow business. He led a successful exit to an investor group as part of a national rollup. He had previously been Director of Healthcare Applications for IBM.
McAdoo earned a B.S. in Business Administration at Drexel University, where he also served on the Board of Governors, and an MBA from Columbia Business School.
“At HealthQx, Mark will lead business development, drive sales and client/partner relationships, and raise external capital, all of which are critical to our growth,” Conlan explained.
“I am excited about the opportunities our CareQx SaaS solution offers. It puts us on the leading edge of what’s happening today with the analysis of big data to increase cost efficiency and improve quality in every sector of U. S. healthcare,” McAdoo said.
To date, HealthQx has been funded by private investors and Ben Franklin Technology Partners, one of America’s “longest-running technology-based economic development programs.”
HealthQx specializes in data analytics and decision support software to bring transparency to the healthcare industry. The company measures healthcare values market-by-market, scoring physicians and hospitals compared to their peers on quality and cost-efficiency – all in an effort 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.
To learn more about HealthQx, visit www.HealthQx.com