Virsys12 Announces Record Revenue and Releases New Product
The Brentwood-based health tech firm looks forward to 2023 after doubling its yearly revenue and releasing new product, “V12 Network Plus”
Nashville, Tenn., Feb. 7, 2023 – Virsys12, a leading Salesforce solution integrator in the healthcare industry and AppExchange ISV, today announced doubled revenue in 2022 and its new product, V12 Network Plus.
V12 Network Plus, a lighter entry product, is designed for healthcare payers and providers to experience automated provider network and data management with a lower price point and faster implementation.
“We are proud to meet the needs of healthcare providers and payers as we work towards the mutual goal of transforming healthcare,” said CEO and Founder Tammy Hawes. “Our technology products, V12 Network Pro and V12 PDE provide industry leading provider network management functionality for payers and providers. With the addition of V12 Network Plus, we are meeting customers where they are in their automation journey and at a lower price point for provider data management and provider network management automation.”
Virsys12 was founded in 2011 with the mission of transforming the business of healthcare through technology. It fulfills its mission by providing consulting services and software applications that help healthcare organizations run their operations more efficiently and effectively – ensuring that patients, members, providers and payers have a positive experience.
The company has grown rapidly since receiving funding from Salesforce Ventures’ SI Trailblazers Fund in 2018, becoming one of Nashville’s 25 largest women-owned businesses. Virsys12 also doubled its revenue in 2021 and 2022.
“It is so fulfilling to see Virsys12 on this trajectory, said Vice President of Sales & Solutioning Clint Mooneyham. “Our space is very competitive, both from a professional services and SaaS-based application landscape. I believe we are poised to continue to disrupt our space and that the best days are still ahead.”
In addition to its revenue growth, Virsys12 also grew its employee count from 22 to 47 and promoted two new C-Suite members — Seth Hobgood as chief technology officer, Justin Poggioli as chief services officer and hired Michael Gardner as chief strategy officer and Brandon Marsee as chief financial officer.
“V12 Network and its turnkey integrations have transformed provider and payer workloads and will continue to evolve and enhance them further,” said Chief Technology Officer Seth Hobgood. “With both industry-leading provider data partners, like CAQH and ProviderTrust, and our own AI-driven provider data reconciliation tool, V12 PDE, the future of Virsys12 and provider data governance is exciting.”
The company’s signature product, V12 Network, was first listed on Salesforce AppExchange in 2014 as a tool to help Accountable Care Organizations better build and manage networks of healthcare providers. The product has since expanded to help other healthcare organizations – including payers and health plans, specialty networks, integrated clinical networks, third party administrators and benefit managers – build and manage provider networks. Recently, it was included in Gartner’s “Market Guide for U.S. Healthcare Payers’ Provider Network Management Applications” and one of seven U.S. healthcare technology companies named as a ‘Contender’ in the “IDC MarketScape: U.S. Provider Data Management for Payers 2022 Vendor Assessment.”
About Virsys12
Virsys12 is a healthcare technology firm transforming the business of healthcare with innovative products and solutions for provider lifecycle and Salesforce’s Digital 360 initiative, which brings together key components to help companies transform customer engagement in the all-digital, work-from-anywhere world. Founded in 2011, Virsys12 provides both applications and services to ensure customer success. It partners with healthcare organizations of all sizes to help them create an optimized experience for their members, patients, providers and partners that produces better outcomes and lowers costs. To learn more, visit www.virsys12.com.
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