COLUMBUS, Ohio--(BUSINESS WIRE)--Today, Bill Nordmark, currently EVP & Chief Commercial Officer of Aver, assumes the role of President & Chief Executive Officer, succeeding Nick Augustinos, who becomes Aver’s Chairman of the Board after serving for three years as its President & Chief Executive Officer.
Mr. Nordmark has served as Aver’s EVP & Chief Commercial Officer since May of 2017. During his time with the company, he more than tripled Aver’s business pipeline, added multiple health plans and providers to their customer roster, and increased their services with existing customers.
In 2018, Aver announced the commercial availability of its Bundle Benefit Management (BBM) platform that allows health plans to design, implement and administer episode-based contracts at scale. Two customers will launch the platform in 2019 to expand and scale their already industry-leading episode-based programs.
“Soon after Bill joined the Aver team, he demonstrated that he could lead the sales and customer-facing teams and was the natural successor to the role of CEO,” Mr. Augustinos stated. “Bill and I collaborated closely over the last year with that objective in mind, planning for a smooth transition while continuing the trajectory of building the preeminent value-based care and bundle payment company. We shared the vision and recognized the potential of our Analytics and Bundle Benefits Management solutions for payers and providers alike.”
Besides securing BBM launch customers, Aver has increased its sales pipeline threefold, bringing the value of the sales opportunities to the highest target since the company’s inception. “The sales traction Aver is having in the market is directly related to the growing desire of health plans to make bundled payments a cornerstone of their value-based strategy. We have proven an ability to save our health plan customers more than 17 percent in medical spend by using our solutions and strategies,” said Mr. Nordmark.
“Nick and I share a strong belief that Aver is now positioned to capture this major industry transition towards value-based reimbursement. As CEO of the company I look forward to making sure the business continues to have strong sales momentum while the company meets the needs of Aver’s marquee customer base. I look forward to continue working with Nick in his new role as Chairman of the Board,” said Mr. Nordmark.
“The Board of Directors and I are confident that Bill will continue to lead Aver to even greater success and we enthusiastically support him in his new position,” concluded Mr. Augustinos.
Founded in 2010, Aver is the healthcare industry’s leading platform for simplifying value-based reimbursement. Our team specializes in guiding our customers through the creation of an end-to-end value-based strategy. With our history and expertise, Aver has guided payers, health systems, government plans and physician practices to design, implement and administer value-based programs. Aver has a proven track record of success working with payers and providers to build the foundation for sustainable and profitable value-based programs. With the launch of the Bundle Benefit Management offering, Aver now enables the industry to use one platform for the design, implementation, administration and reconciliation of episode based reimbursement.