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n e w h a v e n b i z . c o m | M a y 2 0 2 1 | n e w h a v e n B I Z 11 NOMINATIONS NOW OPEN! CLICK HERE • DEADLINE August 12, 2021 Presenting Sponsor WHO MEAN BUSINESS WOMEN A W A R D S STARTUPS, INNOVATION & TECHNOLOGY of its Class A common stock, which had an initial price at $24 per share. Signify was the first Connecticut compa- ny to file for an IPO in 2021. Late last year Signify announced a part- nership with the state Comptroller's Office to develop a "Network of Distinction" program for the state employee health plan, which totals more than 220,000 members. e doctors, hospitals and provider groups in the network have agreed to fix prices for about 27 health procedures — including knee replacements, colonos- copies, cataract surgery and maternity care — moving toward what's known as an "episode of care" payment model, rather than fee for service. Essentially the program aims to prevent wild fluctuations in prices for certain care at various providers in the state and steer patients toward high-quality treatment locations. Signify's role has been to identify, contract with and support the network providers. ere are nine health systems/provider groups in the program, including Griffin Hospital, Prospect Medical Eastern CT Health Network, Prospect Medical Wa- terbury Health, and UConn Health-John Dempsey Hospital, Signify said. State Comptroller Kevin Lembo has been a big proponent of the partnership, even congratulating the company aer it went public earlier this year. "e innovative partnerships established between the state health plan and private companies are sparking real change in the healthcare sector, emphasizing patient care and creating jobs," Lembo said. "I'm heartened to see investors react so enthu- siastically to the concept of compensating providers based on the successful outcome of a procedure — from evaluation through recovery — instead of rewarding sheer volume of services, regardless of the quality of patient care." It's the first state-level public-private partnership of its kind, and Armbrester acknowledges it may be duplicable in other states. Competitive edge According to Armbrester, Signify's com- petitive advantages are threefold. "No. 1 is our people," he says. "We've recruited some of the best talent from di- verse backgrounds to come into home care. We are bringing new people who think creatively to drive new and innovative solu- tions. No. 2 is the fact that we're working with value-based care. We really want to turn health care on its head by focusing on better patient outcomes. e third is our technology and our networks. We've built out an extreme advantage with technology and scale and efficiency throughout our business." e most objective measurement of Sig- nify's marketplace acceptance and growth trajectory lies in its financial performance. e company grew its top line in fiscal 2020 by 22 percent to $610.6 million. For the fourth quarter alone, the company post- ed revenues of $193.5 million, an increase of 45 percent from the same period of 2019. "ese results reflect strong perfor- mance across all of our services and expanded growth with our customers," Armbrester explains. Notably, Signify says it spends $100 million annually on R&D. What do those dollars pay for? "Analytics," Armbrester explains. "We have people who deploy our resources when and where they're needed most. We have teams of soware engineers building out technology workflows to make sure we're delivering the right care in the right place at the right time. And we have big product teams that prioritize and decide how and when and where we're going to deploy our resources." In such a fast-changing industry it's fundamentally an unanswerable question. But where does Armbrester see Signify in five years? "In five years we will have dramatically rolled out commercial [solutions] contain- ing unnecessary costs and driving superla- tive patient outcomes — making America a much healthier place than it is today. I want that for myself, for my kids, for my grand- parents. We're a big part of that solution." n Comptroller Kevin Lembo has praised Signify Health for its bundled payment contracts with providers that aim to better control healthcare costs. FILE\PHOTO Visit chelseagroton.com/growthatbusiness or call 860-448-4295 You can count on us! Our flexible lending solutions and experienced team may be just what your business needs.

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