Unlocking value for our clients
Cotiviti is a leading provider of analytics-driven payment accuracy solutions focused primarily on the U.S. healthcare sector. We leverage our robust technology platform, configurable analytics, proprietary information assets and expertise in healthcare reimbursement to help our clients enhance their claims payment accuracy. Formed through the merger of Connolly and iHealth Technologies, we work with over 40 healthcare organizations, including twenty of the top twenty-five largest U.S. commercial, Medicare and Medicaid managed health plans, as well as CMS. Cotiviti is also a leading provider of payment accuracy solutions to over 35 retail clients in the U.S., Canada and United Kingdom, including eight of the ten largest retailers in the United States.
Cutting through the complexity of healthcare claims
Timely and accurate healthcare claims processing is critical to the U.S. healthcare system. The administration of healthcare claims is complex and payment inaccuracies can occur for many reasons. Changes in the healthcare industry including increasingly complex reimbursement models, more coding intricacy, changing demographics, the shift to managed care plans within government healthcare, and increased healthcare coverage are expected to further increase the complexity of healthcare payments. Through our analytics-driven solutions, we support healthcare payers in managing these complexities in the claims payment process before and after claims are paid.
Providing meaningful client value
Our integrated solutions review claims for accuracy with respect to billing accuracy, contract compliance, payment responsibility and clinical appropriateness before and after claims are paid. This resulted in over $3.3 billion in savings for our healthcare clients and over $500 million in savings for our retail clients in 2016. Our track record of consistently delivering value for our clients has strengthened our longstanding client relationships, increased our client base and contributed to strong growth in our revenue and profitability.
Aligned financial model
Our financial model is dependent on the savings that our clients realize from our solutions. Savings that we delivered for clients in 2016 resulted in revenue of $625 million and adjusted EBITDA of $240 million. When our clients succeed, we succeed!