
Claritev's PHCS Network Receives Twelfth Consecutive NCQA Accreditation in Credentialing
First certified in 2001, the PHCS Network underwent a rigorous review of its credentialing and recredentialing processes to maintain its NCQA Accreditation in Credentialing. The network was reaccredited for the maximum period of 3 years, which is valid through June 13, 2028.
Through the accreditation process, the NCQA auditor specifically remarked that Claritev:
Had dedicated and knowledgeable staff,
Prepared files facilitating a smooth file review, and
Made timely credentialing decisions.
'This twelfth consecutive NCQA Accreditation is a testament to the unwavering commitment and caliber of our team to uphold the highest standards in credentialing,' said Jerry Hogge, Chief Operating Officer of Claritev. 'It reflects our dedication to ensuring that healthcare professionals in the PHCS Network meet rigorous quality benchmarks, ultimately supporting better outcomes for the patients and partners we serve.'
The PHCS Network provides health plan members with seamless access to healthcare services across the country, with more than a million participating practitioners, 4,600 acute care facilities and 92,000 ancillaries.
About NCQA
NCQA accredits and certifies a wide range of health care organizations. It also recognizes clinicians and practices in key areas of performance. NCQA's Healthcare Effectiveness Data and Information Set (HEDIS®) is the most widely used performance measurement tool in health care, with over 60% of the US population enrolled in health plans that use the measure. NCQA can be found online at ncqa.org, on Twitter @ncqa, on Facebook at facebook.com/NCQA.org/ and on LinkedIn at linkedin.com/company/ncqa.
NCQA has reviewed and accredited Claritev's Credentialing functions for the PHCS Network only. For complete details on the scope of this review, visit www.ncqa.org.
About Claritev
Claritev, formerly known as MultiPlan, is a healthcare technology, data, and insights company focused on delivering affordability, transparency, and quality. Led by a team of deeply experienced associates, data scientists, and innovators, Claritev provides cutting-edge solutions and services fueled by multiple data sources and over 40 years of claims repricing experience. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design. By focusing on purpose–built solutions that support all key players – including payors, employers, patients, providers and third parties – Claritev aims to make healthcare more accessible and affordable for all. For more information, visit claritev.com.
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Globe and Mail
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Accordingly, AvidXchange encourages investors, the media and others interested in AvidXchange to review the information that it shares at the Investor Relations link located at Users may automatically receive email alerts and other information about AvidXchange when enrolling an email address by visiting 'Email Alerts' in the 'Resources' section of AvidXchange's Investor Relations website Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues $ 110,570 $ 105,132 $ 218,512 $ 210,730 Cost of revenues (exclusive of depreciation and amortization expense) 30,949 30,426 61,738 60,759 Operating expenses Sales and marketing 23,068 19,956 45,579 39,697 Research and development 26,975 25,008 52,357 50,912 General and administrative 33,510 22,635 62,458 46,895 Impairment and write-off of intangible assets - - - 162 Depreciation and amortization 8,479 9,208 17,148 18,515 Total operating expenses 92,032 76,807 177,542 156,181 Loss from operations (12,411) (2,101) (20,768) (6,210) Other income (expense) Interest income 4,480 5,979 8,621 12,541 Interest expense (2,010) (3,323) (4,016) (6,660) Other income 2,470 2,656 4,605 5,881 (Loss) income before income taxes (9,941) 555 (16,163) (329) Income tax (benefit) expense (477) 119 612 244 Net (loss) income $ (9,464) $ 436 $ (16,775) $ (573) Net (loss) income per share attributable to common stockholders, basic and diluted Basic $ (0.05) $ 0.00 $ (0.08) $ 0.00 Diluted $ (0.05) $ 0.00 $ (0.08) $ 0.00 Weighted average number of common shares used to compute net loss per share attributable to common stockholders, basic and diluted Basic 206,933,045 207,025,967 205,982,206 205,961,720 AvidXchange Holdings, Inc. 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Three Months Ended June 30, Six Months Ended June 30, Reconciliation of Revenue to Non-GAAP Gross Profit and Non-GAAP Gross Margin 2025 2024 2025 2024 (in thousands) Total revenues $ 110,570 $ 105,132 $ 218,512 $ 210,730 Expenses: Cost of revenues (exclusive of depreciation and amortization expense) (30,949) (30,426) (61,738) (60,759) Depreciation and amortization expense (5,977) (6,034) (12,106) (12,098) GAAP Gross profit $ 73,644 $ 68,672 $ 144,668 $ 137,873 Adjustments: Stock-based compensation expense 1,996 1,625 3,980 2,857 Depreciation and amortization expense 5,977 6,034 12,106 12,098 Non-GAAP gross profit $ 81,617 $ 76,331 $ 160,754 $ 152,828 GAAP Gross margin 66.6 % 65.3 % 66.2 % 65.4 % Non-GAAP gross margin 73.8 % 72.6 % 73.6 % 72.5 % AvidXchange Holdings, Inc. 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(2) For the three months ended June 30, 2025, this amount includes a $172 gain on lease buyout. For the three months ended June 30, 2024, this amount was primarily comprised of an insurance recovery of $2,110 for costs incurred in response to the cybersecurity incident that was detected in April 2023. For the six months ended June 30, 2025, this amount includes $618 in restructuring costs and a $172 gain on lease buyout. For the six months ended June 30, 2024 this amount includes $1,157 of severance costs and a net benefit of $1,808 of response costs incurred in connection with the cybersecurity incident.


Globe and Mail
41 minutes ago
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