COLUMBIA, Md., Oct. 7, 2022 /PRNewswire/ -- Vheda Health, a national chronic care company using advanced monitoring to decrease medical costs and increase member engagement, HEDIS, and STARs scores for underserved Medicaid and SNP populations, today announced it has re-certified 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 (CEI), with the purpose of expanding access to state contracts for minorities, women, persons with disabilities, and veterans and assists the state in enhancing the equity and inclusion throughout its workforce. Vheda Health completed the most rigorous - Full BEP certification – valid for seven (7) years.
Medicaid, SNP, and Medicare health insurance programs across the state of Illinois, the recipient of state funds, are required under state statute to partner with companies having the MBE designation, as a way of creating 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 yearly spend targets.
"The BEP program is one of the best programs in the country and we are humbled to be a part of it. More than 3.3 million people across the state of Illinois rely on Medicaid and SNP for their healthcare. Therefore, we at Vheda Health have made it a priority to partner with every health plan in the state of Illinois because doing so, allows us to positively close gaps in access to care, health equity, and chronic condition management, translating to annual 3:1 net medical cost savings. These are the curves that needs bending and we are proud to be taking 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 FY 2021 – representing 3.5% of total Medicaid spend in the 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 life for the better. Our programs are creating better access to care for members through our iPhone-centric member experience and positive return on investment for our health plan partners. We are looking forward to expanding current health plan partnerships and establishing new ones in the coming months and years ahead," Bill Henderson, SVP 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 Maryland, and Commonwealth of Pennsylvania.
About Vheda Health
Vheda Health is a leading chronic care company empowering people with chronic conditions to live their best life. Using 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 payors, delivering 84% member compliance and an average 3:1 return on investment. For more information, please visit https://www.vheda.com/
Vheda Health Partnerships
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SOURCE Vheda Health