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Edifecs

A leading healthcare technology company

Categories

Pharma and Life Sciences  
Summary

Edifecs is a healthcare technology company with the mission to improve healthcare outcomes, reduce costs and accelerate innovation. The company puts healthcare data to work. They optimise and perfect the end-to-end process of patient data interchange. Edifec's solutions onboard the data effectively and easily, securely exchange it across the partner network, and help ensure its quality. 

The company extracts its meaning to improve business functions, mitigate risk, and enable value-based payment programs. And they apply their machine learning and AI capabilities to this data to power Robotic Process Automation (RPA) and predictive capabilities. With 25 years of experience enabling data interchange across the care continuum, keeping healthcare organisations healthy is what they do.


History

Sunny “Gurpreet” Singh, the founder of Edifecs, identifies himself as a “corporate misfit”. Early in his career, Sunny Singh realised that there had to be a better, more accurate way to track and process information. He understood the need for data processing technology that would save vast man-hours, money, and paperwork. Before he turned 30, Singh had worked at three different companies, realising very quickly at each that none of the jobs fulfilled him. He wanted to use his expertise in solving supply chain and enterprise integration problems for a profitable organization that was making a meaningful difference. 

This is where the idea to launch Edifecs came from. Singh believed that making the industry more efficient by managing information in real-time at the lowest possible cost would save enough to cover all uninsured Americans. In 1996, he drew $200,000 on his savings and credit cards and, working from a small room in his condo in Issaquah, developed and launched Edifecs’ First product – SpecBuilder. 

When Singh launched Bellevue-based Edifecs, he set some ambitious goals: no venture capitalists and no debt, but instead, growth and profit every year. He has guided the company through economic downturns and the recession and accomplished his goals: Edifecs is a profitable, self-funded, employee-owned company with no debt—as well as one of the fastest-growing healthcare technology companies in the United States. Edifecs helps improve the ways healthcare organisations manage and leverage the information they exchange. It also streamlines and automates manual business processes such as enrollment, claims, and payments management. 

When HIPAA was introduced, the code was reworked to include its specifications, and demand for SpecBuilder soared. Today, Edifecs is one of the fastest-growing companies in healthcare IT. They are a profitable, debt-free multinational company with over 350 customers serving more than 215 million lives. In 2020, Edifecs received significant private equity funding from TA Associates and Francisco Partners, leading private equity firms.


Mission

Their mission is to deliver a single-point solution to connect to all information exchange partners and to ingest, correlate and optimise digital health data from hundreds of millions of consumers and millions of care delivery sites and people. The company believes that information technology can revolutionise healthcare.


Vision

The company works relentlessly to help improve the healthcare system, better serve its clients, and take care of this planet. Its corporate credo is passion, innovation, integrity, wisdom, collaboration, and respect. These beliefs have helped them create a vibrant company culture where innovation and creativity flourish and careers thrive. The company believes that its commitment to these values distinguishes it from the competition.


Key Team

Venkat Kavarthapu (Chief Executive Officer)

Sunny Gurpreet Singh (Chairman of the Board, Roundglass)


Recognition and Awards
The company was ranked #1 Hire Power Awards, INC. Magazine in 2012. From 2010-2014, it ranked in Deloitte Technology Fast 500TM North America. In 2016, it was recognised amongst Heathcare Informatics 100. It also won The Best in Biz: Most Environmentally Responsible Company during the same year. The company won 2018 Eastside Business Awards under the category Innovative Product of the Year. It won The SEAL Business Sustainability Award for 2021 and 2020, and 2021 Globee Awards, American Best in Business, Gold. In 2022, it won Seattle Business Magazine’s Community Impact Award for Sustainability in Business Operations. During the same year, it was ranked amongst Washington’s 50 Top Green Companies, Most Trusted Brands of India by Zee Business, and Puget Sound Business Journal, Middle Market Fast 50.

References
Edifecs
Leadership team

Venkat Kavarthapu (Chief Executive Officer )

Sunny Gurpreet Singh (Chairman of the Board, Roundglass)

Industries

Pharma and Life Sciences

Products/ Services
FHIR (Fast Healthcare Interoperability Resources)
Number of Employees
500 - 1000
Headquarters
Bellevue, WA, United States
Established
1996
Social Media

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