Health Tech Innovator Stephen Passalacqua Joins tevixMD as CEO to Accelerate Company Growth
JUPITER, Florida., February 2, 2022 /PRNewswire/ — tevixMD, a market leader providing accurate patient verification and insurance eligibility data that improves the financial performance of healthcare providers and patients, is pleased to announce that Stephen Passalacqua joined the company as CEO. Stephen was most recently Head of Business 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 simplifiesMD, where he successfully led efforts to grow their customer base. He also held several leadership positions at McKesson Technology Solutions (now Change Health), a McKesson Company, where he led sales, marketing and business development for the $100M+ medical imaging business. of the society.
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 its real-time smart data platform and revenue growth of 89% over 2020. Founded in 2014, tevixMD has a patented process that has revolutionized claims handling to minimize rework. Major laboratories, revenue cycle management, emergency care, hospitals, ACOs, specialty testing and retail healthcare providers trust tevixMD to provide clear and accurate insurance information the first time dealing with a claim. tevixMD’s platform uses minimal information to identify patients’ current insurance, Medicare Beneficiary Identification (MBI) number and deductible status information in advance , saving time and money on rework and increasing supplier cash flow by an average of 30%.
“I am thrilled to join tevixMD at such a critical time for the business, as we seek to deliver our healthcare industry-leading claims research platform to minimize denials and retakes and create a better experience for patients and providers,” said Passalaque. “I look forward to taking tevixMD’s growth to the next level by helping providers address the growing payment challenges in the healthcare industry.”
“We couldn’t be more excited for a leader like Stephen to join tevixMD,” said William (Todd) Andros, chairman, founder and former CEO of tevixMD, who will serve as Chief Strategy Officer. “His track record of growing, innovating and securing partnerships to help businesses grow is unparalleled in healthcare, and we are confident he will take tevixMD to the next level.”
tevixMD was founded in 2014 and provides insurance and other patient data through a patented connected services platform that enables healthcare providers to identify coverage and deductible information so that patients process claims efficiently and get paid. The company was founded to improve the financial performance of healthcare providers and, in doing so, improve healthcare and patient satisfaction. It is the only platform that provides accurate real-time patient data and insurance/MBI coverage information using minimal patient credentials. Learn more at www.tevixmd.com/contact