Healthcare technology innovator, Stephen Passalacqua, joins tevixMD as CEO to accelerate company growth
JUPITER, Fla., Feb. 2, 2022 /PRNewswire/ — tevixMD, a market leader in providing accurate patient verification and insurance eligibility data that improves financial performance for healthcare providers and patients, is pleased to announce that Stephen Passalacqua has joined the company as CEO. Stephen was most recently head of Commercial and Business Innovation at Care Logistics LLC, a Jackson Healthcare company, where he led customer acquisition, marketing, strategic partnerships, and sales operations. Prior to joining Care Logistics, Stephen was COO of NextWave Health Connect and COO of simplifyMD where he successfully led efforts to increase their customer base. He also had several senior executive roles at McKesson Technology Solutions (now Change Health), a McKesson company, where he led sales, marketing, and business development for the company’s $100M+ Medical Imaging business.
Mr. Passalacqua joins tevixMD at an opportune time, as the company had its best year ever in 2021, with a record year for transactions through it’s real time intelligent data platform and revenue growth of 89% vs. 2020. Founded in 2014, tevixMD has a patented process that has revolutionized claims processing to minimize rework. Leading Lab, Revenue Cycle Management, Urgent Care, Hospitals, ACOs, Specialty Testing, and Retail health providers trust tevixMD to deliver clear, accurate insurance information the first time they process a claim. tevixMD’s platform uses minimal information to identify patients’ current insurance, Medicare Beneficiary Identifier (MBI) number, and deductible status information up front, saving time and money on rework and increasing provider cash flow by an average of 30%.
“I’m excited to be joining tevixMD at such a critical juncture for the company, as we look to offer our industry leading claims lookup platform across the Healthcare industry to minimize denials and rework and create a better patient and provider experience,” stated Mr. Passalacqua. “I’m looking forward to taking tevixMD’s growth to the next level by helping providers solve the growing payment issues in healthcare.”
“We couldn’t be more excited about having a leader like Stephen join tevixMD,” said William (Todd) Andros, Chairman, founder, and former CEO of tevixMD, who will move into the role of Chief Strategy Officer. “His track record of growth, innovation, and securing partnerships to help scale businesses is unparalleled in Healthcare, and we’re confident he’ll take tevixMD to the next level.”
tevixMD was founded in 2014 and provides insurance and other patient data through a patented platform of connected services which enables healthcare providers to identify coverage and deductible information for patients to efficiently process claims and get paid. The company was founded to improve the financial performance of healthcare providers and by doing so improve healthcare and patient satisfaction. It’s the only platform that provides real-time accurate patient data and insurance/MBI coverage information using minimal patient identification information. Learn more at www.tevixmd.com/contact