2 min read March 2024 — In an interview with Invest:, Tammy Hawes, CEO and Founder of Virsys12, discussed the company’s evolution from a services organization to a leading software provider, aimed at enhancing the efficiency of healthcare administration. Virsys12 leveraged strategic partnerships, like those with Salesforce, to position itself as a leader in the sector’s technological advancement, she said.
Can you highlight Virsys12’s recent achievements in healthcare technology?
Over the course of nearly 13 years, our evolution from a professional services organization to a provider of software solutions, V12 Network and V12 PDE, has been transformative. Our primary focus is aimed at reducing the administrative burden for healthcare payers and providers, and we’ve seen significant growth in this area especially within the past year. We recognized a need for a software solution that could be broadly applicable, focusing on capturing and updating provider information in real time. This is crucial for addressing issues like surprise billing and ensuring transparency in healthcare, as well as the entire provider network operations process, including onboarding, credentialing, contracting, network operations, and provider data management. Unlike other industries where transactions are instant, healthcare has lagged, making it challenging for organizations to deliver seamless provider experiences and maintain accurate provider directories. Our strategic move to becoming a software company reflects our commitment to addressing inefficiencies in provider data management and workflow processes within the healthcare sector. Additionally, our inclusion on the Inc. 5000 list of Fastest-Growing Private Companies in America last year is a testament to the dedication of our team and remarkable growth trajectory of our company.
How does Nashville and the greater region support businesses like Virsys12?
Having been in Nashville since college, I’ve witnessed its remarkable growth across various sectors; however, my expertise lies within the healthcare domain, which has seen many positive and transformative changes. Nashville began as a hospital-centric city with the presence of HCA, focusing primarily on the provider side. Recently, we’ve seen a notable shift towards a more comprehensive healthcare landscape especially into the payer domain, which traditionally was less represented here. Moreover, a new wave of startups is emerging at the intersection of payer and provider roles, introducing innovative business models and revenue streams. This evolution, coupled with Nashville’s growing healthcare technology sector, uniquely positions it to not only adapt to but also drive the transformative changes shaping the healthcare landscape.
How are emerging technologies like AI impacting your field, and how is Virsys12 leveraging these advancements?
AI is fundamentally changing our approach, with its success hinging on the quality of data. We’re focused on two main products: one that involves a streamlined workflow process for updating provider data, while the second product is an advanced AI engine that continuously searches for provider data updates. This AI tool learns to identify the most accurate and recent data, regardless of its source. Our aim is to preemptively update provider information before the providers themselves, relying on AI to streamline and expedite processes. This approach has the potential to generate substantial cost savings for the healthcare industry by significantly reducing the hours of work required for the approval processes in this highly regulated sector.
Can you discuss the significance of Salesforce’s investments in Virsys12 and how it has influenced your company’s direction and offerings in healthcare?
In both 2018 and 2020, Salesforce made two pivotal investments in Virsys12, recognizing our transformational use of its technology in healthcare. The initial investment highlighted the opportunity Salesforce saw in healthcare through our partnership. The second, amid COVID-19 in 2020, underscored its confidence in our meaningful contributions to the healthcare sector. These investments have not only been a huge vote of confidence but also align with Salesforce’s broader objectives across various verticals, including healthcare. Salesforce views its involvement in healthcare as both a business opportunity and a social responsibility, a sentiment we share deeply at Virsys12. This partnership propels us forward, allowing us to navigate the complexities of healthcare with a blend of innovation and a commitment to making a difference.
Can you discuss the regulatory challenges Virsys12 faces with healthcare technology?
In healthcare, everything presents a challenge, yet we’ve adapted to navigate these complexities. Our focus is on aiding organizations to meet regulatory compliance, particularly around the rapid processing of provider data updates and the timely refresh of provider directories. It’s a nuanced situation; while we deal with our own compliance requirements, ensuring our platform’s security and preventing unauthorized access, we simultaneously address numerous compliance issues for our clients. The landscape of cybersecurity is a constant concern, with the threat of breaches always looming. This year marks a significant milestone for us as we receive our full HITRUST certification, underscoring our commitment to maintaining the highest standards of security in healthcare.
How have recent economic changes and market shifts impacted the healthcare industry?
The pandemic significantly impacted healthcare, with large and national health systems finding it challenging to invest in new technologies due to financial constraints; however, health plans continued to allocate resources toward technological advancements. Recently, there’s been a positive shift; health systems are stabilizing and showing a willingness to invest in administrative technologies, albeit with smaller budgets compared to larger organizations. Over the last five years, substantial investments were made in electronic medical records (EMR) implementations, which are now moving past their most challenging phases. This transition is enabling healthcare organizations to focus on reducing administrative costs and considering solutions like ours to achieve this goal.
How is your technology addressing labor constraints and skill gaps in healthcare?
Healthcare faces significant labor constraints, with tasks such as contracting providers taking up to 90 days due to paperwork and workflow processes. However, some states now require these processes to be completed in as few as 20 days. Our technology has streamlined these tasks, reducing the time and effort required to just 20 days in many cases, achieving more than a 300% decrease in time and effort. This not only addresses administrative shortages but also allows clinical staff to focus on patient care rather than administrative tasks, enhancing efficiency in healthcare operations.
How does Virsys12 engage with and give back to the community?
As a Salesforce partner committed to the 1% pledge, giving back is a core part of our mission. For instance, during the holidays, our remote and local employees volunteered at the Salvation Army, organizing and categorizing gifts for their holiday Angel Tree shopping program. Beyond this, our engagement extends to various nonprofit organizations in Nashville. I serve on the board of the Nashville Health Care Council and am involved with the Nashville Technology Council, the Nashville Entrepreneur’s Organization, and women’s business leadership groups. Our association with these organizations and participation in their community programs reflects our commitment to making a positive impact.
As a trailblazer for women in tech and healthcare, could you share the challenges you’ve faced and advice for aspiring female entrepreneurs?
Initially, I didn’t focus on the challenges specific to being a woman. My strategy has always been to work harder, smarter, and do more. It’s crucial to find joy in what you do, despite the inevitable challenges and less enjoyable tasks. Passion fuels perseverance, even when it’s tough. Women, me included, often face self-imposed limitations. Overcoming these requires self-coaching and building confidence during doubtful times. Having a supportive network of women has been invaluable for advice, feedback, and encouragement. It’s tough to succeed in isolation; mentorship and a supportive community are key. Now, I also mentor others, emphasizing the importance of giving back. A strong, supportive team is essential. Since starting Virsys12 in 2011, team dynamics have evolved, but integrating dedicated team members into our mission has been vital for growth.
What are Virsys12’s priorities for the next two to three years?
Our focus is on aggressive growth, despite the challenges of scaling and economic uncertainties. We’re preparing for expansion by implementing scalable processes and infrastructure to support a larger organization. Our goal is to grow thoughtfully, ensuring we have the foundation to manage and sustain this growth effectively.
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