Columbia-based Vheda Health, a national chronic care company using advanced monitoring to reduce medical costs and increase member engagement, HEDIS, and STAR scores for underserved Medicaid and SNP populations, announced Monday that it had been recertified as a minority-owned business with the State of Illinois Business Enterprise Program (BEP).
The Business Enterprise Program was created by the Illinois State Commission on Equity and Inclusion (CEI), with the goal of expanding access to state contracts for minorities, women , persons with disabilities and veterans and helps the state strengthen equity and inclusion. throughout its workforce. Vheda Health has achieved full BEP certification, valid for seven years.
The Medicaid, SNP, and Medicare health insurance programs in the state of Illinois, a recipient of state funds, are required by state law to partner with companies with the MBE designation, in order to create a continuous and valuable supply chain. These same health insurance programs are required to allocate a portion of their budgets and contract with BEP-certified companies and meet annual spending targets.
According to data compiled by the Kaiser Family Foundation, Illinois ranks 7th in total Medicaid spending – $26.9 billion in fiscal year 2021 – accounting for 3.5% of total Medicaid spending in the United States. .
In addition to its Illinois Minority certification, Vheda Health holds certifications with the National Minority Supplier Development Council (NMSDC), the State of Maryland, and the Commonwealth of Pennsylvania.