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VedaData provides curated healthcare provider data and data quality services. It maintains a database of over 3.5 million active providers sourced from more than 100,000 sources, accessed through its VECTYR DATA CURATION product. This AI-powered process formats, verifies, and updates client rosters in under 24 hours to ensure accuracy and completeness. It also offers QUANTYM DATA QUALITY SCORING to assess a client's existing data for accuracy, quality, and thoroughness, followed by reconciliation and validation. Revenue comes from access to the curated data and the data quality service fee. The company emphasizes data security via its Smart Automation platform to protect sensitive information and manage risk, supporting regulatory compliance. Its differentiators are guaranteed accuracy and speed, broad coverage, and strong security. The goal is to help clients rely on trustworthy provider data to drive business decisions and maintain compliant, high-quality datasets.
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Healthcare
Company Size
51-200
Company Stage
Series B
Total Funding
$52.2M
Headquarters
Madison, Wisconsin
Founded
2015
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Total Funding
$52.2M
Meets
Industry Average
Funded Over
5 Rounds
Industry standards
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
Remote Work Options
H1 has acquired Veda Data Solutions to enhance its provider data and automation solutions for health plans. Veda, founded by Bob Lindner and Meghan Gaffney, uses AI to improve healthcare provider data accuracy. The acquisition supports H1's goal of creating a comprehensive provider data platform. Veda raised $45 million in 2021. H1, which has raised $193 million, continues to seek acquisitions in the healthcare data sector amid a wave of industry consolidation.
Today, I'm proud to announce that H1 is acquiring Veda.
Acquisition equips health plans with next-generation provider data management, enabling improved access to care and better health outcomes...
Meghan Gaffney, CEO and co-founder, VedaPayers place many resources—including time, personnel, and money—into maintaining provider networks for their plans and members. What is the intended goal after negotiating and contracting with networks? An accurate and comprehensive provider directory containing in-network clinicians and specialists that members can effectively use to “find a doctor” when they need care.In reality, though, this is often an elusive goal. Members frequently find themselves haunted by ‘ghost networks’ – directories with listings for doctors who are no longer practicing, not accepting new patients, out-of-network, or have listings with inaccurate addresses, phone numbers, and websites. Those lists, constructed from bad or inaccurate data, contain inaccurate information that can hide network inadequacy. Patients have made lawmakers aware of their frustrations with delayed care and unexpected, sometimes life-altering surprise bills due to a ghost networks.Lawmakers have listened. In 2023, the Senate Committee on Finance conducted a study of Medicare Advantage mental health care providers in provider directories and found that “more than 80% of the listed, in-network, mental health providers staff attempted to contact were therefore ‘ghosts,’ as they were either unreachable, not accepting new patients, or not in-network.” Results such as this have prompted legislators to propose legislation at both the federal and state level to require payers and providers to address the ghost network problem.As patients advocate for change and elected officials take note, payers and providers should prepare for the mandates that are coming.The following are five key considerations around legislative efforts to address ghost networks and improving transparency in provider directory data management.1
LOUISVILLE, Ky. MADISON, Wis.--(BUSINESS WIRE)--Leading health and well-being company Humana Inc. (NYSE: HUM) today announced a strategic partnership with Veda, a health technology company specializing in helping healthcare companies solve complex provider data challenges. Humana will partner with Veda to improve the accuracy of its provider information and ensure that seniors have real-time details about in-network providers, making it easier for them to access high-quality healthcare. Ensuring the accuracy of provider directories has been the source of ongoing challenges for seniors, health plans, providers and policymakers. Maintaining up-to-date provider directories, including accurate phone numbers, addresses and panel status of in-network practitioners, is critical to helping seniors make informed choices about their healthcare
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Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Healthcare
Company Size
51-200
Company Stage
Series B
Total Funding
$52.2M
Headquarters
Madison, Wisconsin
Founded
2015
Find jobs on Simplify and start your career today