Connolly iHealth Technologies, a national payment accuracy provider for the health care and retail industries with a 200-employee office in Wilton, recently changed its corporate name to Cotiviti.
The new name reflects what the company termed a “powerful combination of creative problem solving and a collaborative client approach” with an eye on the bottom line.
“Cotiviti is an investment in the future we share with our clients,” Cotiviti CEO Doug Williams said. “It affirms our ability to collaborate with health care payers and retailers to deliver solutions that enhance their profitability and operating performance. It also represents our ability to continue to expand, offer opportunities to our employees and deliver meaningful value to our clients ”“ now under one unified corporate brand name.”
Company officials said, “With the shifting dynamics in healthcare driven by changing regulations and consumer preferences, healthcare reimbursement models are constantly evolving, coding is more rigorous and accountability mandates are affecting industry participants of all sizes. Amidst this complexity, ensuring the accuracy of provider reimbursements remains a major challenge.”
Cotiviti said there are approximately $150 billion to $175 billion in inaccurate health care payments each year in the U.S. Cotiviti said it helps its clients capture more than $3 billion annually through improved payment accuracy.
The company said it is helping its health care and retail clients adapt to their changing worlds “by broadening and deepening its base of expertise, analytics and technology to deliver unique insights and business outcomes.”
Georgia-based Cotiviti was formed by the merger of Connolly and iHealth Technologies in May 2014. Connolly dates to 1979 and iHealth Technologies was created in 2001. Advent International, a global private equity firm, is Cotiviti”™s majority shareholder, having first invested in Connolly in July 2012 and taking a significant ownership position in the combined company through the May 2014 merger. Cotiviti currently works with 20 of the top 25 U.S. healthcare payers and nine of the top 10 U.S. retailers. The company also has offices in Canada, the U.K. and India.
Cotiviti”™s retail business will operate as Connolly, a Division of Cotiviti, while its healthcare business will operate as Cotiviti Healthcare.
