MedData

What MedData does

MedData is a US-based private healthcare services and technology company specializing in end-to-end revenue cycle management (RCM) and patient financial lifecycle solutions. The company has been operating since 1980 and is headquartered in Brecksville, Ohio. Its customer base spans more than 2,500 healthcare facilities nationwide, through which it processes approximately 22 million patient accounts per year. The legal entity is recorded as Elevate PFS Holdings Inc., doing business as ElevatePFS. The addressable Healthcare RCM Outsourcing market was $27.5B in 2023 and is projected to reach $110.7B by 2033 at a 15% CAGR.

The service portfolio is organized into five pillars: (1) Eligibility & Enrollment, covering Medicaid eligibility and disability advocacy; (2) Revenue Cycle Analytics, encompassing price transparency, strategic pricing analytics, strategic pharmacy pricing analytics (SPARX), and charge accuracy; (3) Complex Claims, handling third-party liability, Veterans Administration, workers' compensation, and out-of-state Medicaid; (4) Extended Business Office, including legacy system conversions, A/R billing and follow-up, low-balance insurance follow-up, zero-balance payment recovery, and denials management; and (5) Patient Pay / Self-Pay / Early Out. The company's proprietary technology backbone, "The Summit System®," is described as a data science-powered platform that supports coverage identification, patient engagement, and operational workflows. Service lines carry HFMA Peer Review accreditation, and the Eligibility & Enrollment offering was noted as a KLAS Research top performer in 2023.

Commercially, MedData monetizes through outsourced RCM service contracts with hospitals and health systems — typically structured around contingency percentages of recovered revenue, per-claim fees, or subscription fees for analytics products — though specific pricing is not publicly disclosed. Go-to-market is direct enterprise sales to provider CFOs, revenue cycle directors, and patient access leaders, with multi-scope, multi-year engagements. M&A has been an explicit lever: MedData acquired Data Management in 2011 and, in 2016 alone, acquired Duet Health and Cardon Outreach (the latter at approximately $400 million). Leadership disclosed in the source data includes Michael Shea as Chairman & CEO and Frank W. Stellato as CFO. Headcount is between 1,001 and 5,000 employees, and the firm describes state-specific RCM expertise across all 50 states.

Name

MedData

Legal name

Elevate PFS Holdings Inc.

Website

https://meddata.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MedData is a US private healthcare company that delivers outsourced revenue cycle management and patient financial lifecycle solutions to 2,500+ provider facilities via proprietary data science-enabled technology across eligibility, claims, analytics, and self-pay.

Ownership category

akta.pro rank

Product category

Healthcare Revenue Cycle Management

NAICS

Services for the Elderly and Persons with Disabilities (624120), Services for the Elderly and Persons with Disabilities (62412)

SIC

Services-Health Services (8000)

akta.pro primary industry

Medigap Provider Network & Contracting Support (as applicable) (HLAEADAK)

akta.pro secondary industry

Medigap Plan Administration (Enrollment, Billing & Member Services) (HLAEADAC)

Keywords

• Revenue cycle management
• Patient financial services
• Healthcare eligibility verification
• Medical billing services
• Claims management

Headquarters

HQ city

Brecksville

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Core offering

MedData is a national provider of revenue cycle management and patient financial lifecycle solutions for healthcare providers. The company delivers services spanning Eligibility & Enrollment, Complex Claims, Extended Business Office (A/R management), Self-Pay/Early Out patient engagement, and Revenue Cycle Analytics, powered by its proprietary Summit System® technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Eligibility & Enrollment Services

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• R1 RCM: One of the largest pure-play healthcare revenue cycle management companies in the US, serving hospitals and health systems with end-to-end RCM, eligibility, and patient access services — directly overlapping MedData's core offering.
• Waystar: Cloud-based revenue cycle and healthcare payment platform serving hospitals and physician practices with claims management, patient estimation, and denial management — directly competing with MedData's extended business office and analytics stack.
• Conifer Health Solutions: Subsidiary of Tenet Healthcare providing RCM, patient access, and value-based care services to hospitals and health systems. Direct RCM competitor with comparable scope across eligibility, billing, and denial management.
• nThrive: Healthcare RCM, analytics, and education services company serving hospitals and ambulatory providers. Competes with MedData across the patient financial lifecycle, from eligibility through denial recovery.
• Parallon: HCA Healthcare's shared services arm providing revenue cycle, payroll, and supply chain services. Direct RCM peer operating at scale inside the largest US for-profit hospital system.
• Experian Health: Healthcare-focused arm of Experian offering patient access, eligibility, identity management, and claims management solutions. Directly comparable to MedData's eligibility, complex claims, and patient pay workflows.

Broad incumbents

• Optum (UnitedHealth Group): Healthcare services and analytics arm of UnitedHealth Group, offering RCM, population health, and payer-provider technology. Competes head-to-head with MedData for large health system RCM contracts as a much larger, well-capitalized incumbent.
• Cerner (Oracle Health): Major EHR vendor (now part of Oracle) with embedded revenue cycle functionality sold to hospitals. Bundled competition that can displace third-party RCM vendors through integrated EHR-RCM workflows.

Emerging players

• Availity: Healthcare information network and revenue cycle platform focused on payer-provider data exchange, eligibility, and prior authorization. An emerging technology-led competitor in adjacent RCM workflows.

Others

• Cofense: Listed as an example of an adjacent healthcare technology vendor; MedData's more direct comparable in payer-facing eligibility work includes firms like Change Healthcare (now part of Optum), which directly competed in eligibility and complex claims prior to its acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/meddatainc
• Facebookfacebook.com/meddata
• LinkedInlinkedin.com/company/meddata

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MedData