COLUMBIA, MD., October 7, 2022 /PRNewswire/ — 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 today that it has been recertified as a minority-owned business with the State of Illinois’ Business Enterprise Program (BEP).
The Business Enterprise Program was created by the State of Illinois’ Commission on Equity and Inclusion (IEC), with the goal of expanding access to state contracts for minorities, women, persons with disabilities, and veterans and assisting the state in strengthening the equity and inclusion within its workforce. Vheda Health has completed the most rigorous certification – Full BEP – valid for seven (7) years.
Medicaid, SNP, and Medicare health insurance programs in the state of Illinois, the recipient of public funds, is 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.
“The BEP program is one of the best programs in the country and we are honored to be a part of it. More than 3.3 million people across the state of Illinois rely on Medicaid and SNP for their health care. Therefore, at Vheda Health, we have made it a priority to partner with every health plan in the state of Illinois as it enables us to positively close gaps in access to care, health equity, and chronic disease management, resulting in 3:1 net annual medical cost savings. These are the curves that need to be bent and we are proud to play a leading role,” Shameet Luhar, CEO of Vheda Health.
According to data compiled by the Kaiser Family Foundation, Illinois ranked #7 in total Medicaid spending – $26.9 billion in fiscal year 2021—representing 3.5% of total Medicaid spending in United States.
“The state of illinois is a priority market for us. Our members tell us every day how the Vheda Health program has changed their lives for the better. Our programs create better access to care for members through our iPhone-centric member experience and a positive return on investment for our health plan partners. We look forward to expanding current health plan partnerships and building new ones in the months and years to come,” Bill HendersonSVP of Business Development at Vheda Health.
In addition to its Illinois Minority certification, Vheda Health holds certifications with the National Minority Supplier Development Council (NMSDC), State of Marylandand the Commonwealth of Pennsylvania.
About Vheda Health
Vheda Health is a leading chronic care company that empowers people with chronic conditions to live their best lives. Through advanced monitoring, our Medicaid and SNP programs increase member engagement, HEDIS and STARs scores. For a decade, Vheda Health has formed strategic partnerships with the largest and most recognizable government payers, delivering 84% member compliance and an average 3:1 return on investment. For more information, please visit https://www.vheda.com/
Vheda Health Partnerships
SOURCE Health Vheda