Change Healthcare (known as Emdeon before rebranding in 2015, which followed the purchase of a pre-existing company called Change Healthcare) is a provider of revenue and payment cycle management and clinical information exchange solutions[buzzword], connecting payers, providers, and patients in the U.S. healthcare system. The name also refers to a company founded in 2007 which subsequently became part of the current conglomerate. The company operates the largest financial and administrative information exchange in the United States.
The company is headquartered in Nashville, Tennessee, with more than 89 additional locations throughout the United States, Canada, New Zealand, Israel, Taiwan, and the UK.
A company called Change Healthcare was established in 2007 and based in Brentwood, Tennessee. The company provided healthcare consumer engagement and cost transparency tools to health plans and large, self-insured employers across the United States. The company was founded by Christopher Parks and Robert Hendrick in 2007 with a consumer solution called MedBillManager. In January 2010, the company shifted its focus to the business-to-business market and launched the Change Healthcare Engagement Platform.
In April 2011, Howard McLure, former president of CVS Caremark, came out of retirement to lead Change Healthcare as chairman and CEO. Doug Ghertner joined the company as president in July 2011; prior to this, he oversaw product innovation and management at CVS Caremark and was a senior vice president.
In December 2011, Change Healthcare closed a round of financing, led by Sandbox Industries, BlueCross BlueShield Venture Partners and West Health Investment Fund. In September 2012, Ghertner was promoted to president and CEO, and McLure assumed the role of executive chairman.
In July 2013, Change Healthcare closed on a round of Series D funding. It was led by HLM Venture Partners, and including new investor Noro-Moseley Partners, infused $15 million into the company. In July 2013, Change Healthcare was also named one of Modern Healthcare’s “100 Best Places to Work in Healthcare."