MADISON, Wis.--(BUSINESS WIRE)--Redox today announced it nearly quadrupled its year-over-year annual revenue growth in 2018 and dramatically increased its network by nearly 500 percent. The company’s market momentum shows the intense need for healthcare organizations to exchange data more efficiently with digital health vendors. Now more than 450 healthcare delivery organizations use Redox to integrate and exchange five million patient records per day across 36 different electronic health record (EHR) vendors.
“Healthcare provider organizations face a plethora of technology solutions promising to increase patient engagement, improve outcomes, lower costs, and reduce physician burnout. But the lack of interoperability within these systems remains one of the biggest barriers to digital health,” said Niko Skievaski, co-founder and president, Redox. “By accelerating time-to-value of these third-party applications, Redox now plays a critical role in the digital transformation of healthcare organizations to ultimately improve patient care and provider experience.”
Redox standardizes healthcare data with a vendor-agnostic application programing interface (API) and a cloud network where organizations can exchange information with partners. This “networked interoperability” approach dramatically simplifies the way organizations exchange healthcare data by eradicating the issue of inconsistent data formats and redundant connections. Messages may be transmitted and/or received in any message format associated with the healthcare entity’s existing EHR system.
“Redox’s developer-centric platform has clearly attracted the most innovative solutions on the market. And their unique networked approach brings tremendous efficiency gains in the adoption of these tools at healthcare organizations,” said Rasu Shrestha, MD MBA, who is currently in transition from chief innovation officer at UPMC to chief strategy officer at Atrium Health. “Both organizations utilize Redox today. Redox is quickly becoming the de facto solution for application interoperability.”
Customer Growth and Adoption
The Redox Platform supports healthcare delivery organizations of all sizes and powers the cloud integration strategies of leading care coordination, chronic care management, durable medical equipment, patient engagement, revenue cycle optimization, remote patient monitoring, and telehealth solutions. In 2018, the company added hundreds of high-profile healthcare organizations and technology vendors, including Adventist, Cleveland Clinic, Intermountain, Geisinger, HCA, Memorial Sloan Kettering, Ochsner, OSF HealthCare, UPenn, UCSF, WellStar, Clarify, Evariant, Healthgrades, Invitae, Fitbit, PointClickCare, R1, Stryker, ResMed, and Grand Rounds.
2018 Gartner Cool Vendor
Gartner selected Redox as a 2018 Cool Vendor for the company’s innovative, impactful, and pioneering work. This recognition highlights the company’s unique approach to integration through a networked model utilizing a strictly enforced, consistent data model.
One of the Largest FHIR Implementations
The company launched R^FHIR, offering developers and healthcare organizations the option to use the emerging FHIR standard for data exchange on the Redox network, making it one of the largest FHIR implementations and first to exchange FHIR bi-directionally.
Patent to Streamline Data Exchange Among Healthcare Providers and Technology Vendors
The United States Patent and Trademark Office granted Redox U.S. Patent No. 9996664B2 for its innovative approach to systems and methods for translating messages between healthcare delivery organizations and technology vendors. Leveraging a growing library of over 6,000 reusable configuration records, Redox standardizes how medical record content is represented and enables true interoperability between entities that exchange data. The Redox Platform streamlines data exchange between members of the Redox network.
Redox Gives Back
Redox established R^Gives, a charitable program aimed at serving healthcare nonprofits and public health organizations that help at-risk portions of the population gain access to quality health services at little or no cost. Qualifying nonprofit organizations or social enterprises receive access to the Redox platform to enable effective collaboration with local provider organizations via mission-critical healthcare applications and services. Redox launched with Wisconsin Women’s Health Foundation and Feeding Wisconsin to integrate referrals from large medical centers to their respective social determinants of health programs.
Redox accelerates the development and distribution of healthcare software solutions with a full-service integration platform to securely and efficiently exchange data. Healthcare delivery organizations and technology vendors connect once and authorize the data they send and receive across the most extensive interoperable network in healthcare. Redox exists to make healthcare data useful and every patient experience a little bit better. Learn how you can leverage the Redox Platform at www.redoxengine.com.