By Kylee Savage, Marketing Manager
As a proud employee of SpendMend, I am thrilled to be a part of a company that is making such a significant impact on the healthcare industry. Our innovative cost-saving solutions have been helping hospitals and health systems across the country to better manage the challenges posed by the COVID-19 pandemic, and our record earnings in 2022 are a testament to the effectiveness of our approach.
In 2022, SpendMend recorded a revenue growth of over 30% for the fourth consecutive year, a 20% increase in employee count, and a healthy increase in clients to over 150 major U.S. health systems, comprising over 3,000 hospitals and facilities. Additionally, our clients also enjoyed a 32% increase in hard dollar savings delivered to their bottom-line as compared to the previous year.
One of the things that I find particularly satisfying about my job is the knowledge that the work we do directly benefits patients. By helping our clients reduce costs and optimize future savings, we are enabling them to invest more resources back into their patient communities. This is something that I believe sets SpendMend apart from other companies in the healthcare industry.
Our cost-cycle platform has been a key driver of our success in recent years. By illuminating the “dark data” in our clients’ cost-cycles, we are able to help them unlock trapped dollars and improve operations and overall efficiency. This has led to increased adoption of our platform and helped healthcare networks to better manage the lingering effects of the pandemic.
I am also excited about the acquisitions we made in the past year, including VIE Healthcare Consulting, Trulla, and the healthcare division of Moody Associates. Not only have these acquisitions expanded the SpendMend family and introduced me to a number of wonderful new co-workers and colleagues, these acquisitions have also expanded our cost-cycle platform and enabled us to offer more comprehensive solutions to our clients.
As someone who is passionate about healthcare and making a positive impact on society, I am thrilled to be a part of SpendMend. I am confident that our innovative solutions will continue to help hospitals and health systems to better manage their costs and improve patient care in the years to come. With the additional investments from Morgan Stanley Capital Partners, Corewell/Spectrum Health Ventures, and Memorial Hermann Health System, we are well-positioned to continue our growth and make an even bigger impact on the healthcare industry.