Madaket Health Appoints Megan Schmidt as Chief Executive Officer

Schmidt will guide the company through its next growth phase as Madaket streamlines provider data and helps increase access to reliable healthcare

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Madaket Health, a leader in provider-payer collaboration and data exchange, today announced the appointment of Megan Schmidt as its chief executive officer (CEO). Schmidt succeeds former CEO Eric Demers, who will remain with the company as a strategic advisor. A seasoned healthcare leader with more than 20 years of experience, Schmidt will helm the company during its next phase of strategic growth, helping Madaket meet the growing demand for its provider data management solution.

With deep experience at some of the nation’s largest integrated care delivery systems, Schmidt previously held senior leadership roles at HealthPartners and Corewell Health, which includes healthcare providers and its own health plan, Priority Health.

In these roles, she spearheaded growth in healthcare transformation through optimizing ecosystems, reducing the total cost of care, and building market-leading product and partnership innovations. Schmidt is recognized across the industry for bridging complex healthcare solutions with scalable data and technology enablement.

“For more than 10 years, Madaket has been committed to solving one of the healthcare industry’s most persistent challenges: inaccurate provider data,” said Madaket Health CEO Megan Schmidt. “Every day, physicians move between practices and health systems, and ensuring information is current across our fragmented healthcare system is difficult. This results in billions of dollars of waste, administrative burdens, and unnecessary barriers to care. I’m proud to lead Madaket as we scale solutions that turn this challenge into an opportunity for real system-wide improvement for integrated care delivery.”

Madaket Health is experiencing increased demand for its provider data management platform and is achieving incredible growth in revenue and partnerships. The company’s Provider Data Exchange enables payers to comply with federal and state mandates, including the No Surprises Act and the Centers for Medicare & Medicaid Services’ (CMS) goal to create a centralized physician directory. After reviewing directories for more than 40% of physicians in the United States, The Journal for the American Medical Association found 81% of entries contained inconsistencies across the five large national health insurance carriers. This mismanagement of provider data unnecessarily costs nearly $17 billion each year through claims processing errors, specifically denials, alone.

“For more than 18 months, Megan’s leadership on our board and then as our chief revenue officer has been instrumental in our success,” said Demers. “As she further transitions into this growth-focused role, her leadership will be transformational for the future of Madaket Health. With her rich history in the healthcare space, she understands our customers’ pain points and how outdated data negatively impacts patients’ ability to easily access high-quality healthcare.”

Madaket’s provider data management platform enables both payers and providers to better manage their rosters. It supports value-based care and reduces administrative waste through automation while boosting real-time data management exchange between payers and providers. The platform embeds directly into electronic health records, credential systems, and revenue cycle management tools to sync provider data and eliminate siloes.

Madaket’s Provider Data Management (PDM) platform and Provider Directory offer a comprehensive, single source of truth for the most accurate, up-to-date information on the market, including provider enrollment platforms and services, through its Provider Data Exchange (PDX) system. Real-time and automated updates to the Provider Directory help payers effortlessly comply with federal mandates, and compliance and regulatory requirements.

About Madaket Health

Madaket Health targets billions of dollars in healthcare administrative waste by simplifying provider data management, revenue cycle, and exchange processes. Eighty percent of provider groups have exchanged data through the company’s platform, which validates, automates, and synchronizes provider data between payers and healthcare organizations to improve patient and member experience, enhance revenue, and ensure regulatory compliance. Learn how Madaket Health mitigates claims processing delays and stems lost revenue by addressing data problems at the source with a fully connected provider data analytics and insights platform at madakethealth.com.