RVH Solutions, Inc. (the “Company”), a leading healthcare technology solutions provider to hospitals, health systems, academic medical centers and skilled nursing facilities in the United States and the United Kingdom, announced today that it has secured a strategic round of Series B funding, led by Vizient Inc.
The Company’s Teamwrks Technology Platform is a healthcare technology suite that uses artificial intelligence (AI) and machine learning to help ensure providers have the insights necessary improve financial performance, quality of care and patient outcomes, while appropriately managing the workforce. The technology’s modular design, impactful data analytics and robust project engine enables the system to scale and provide solutions to health systems of all sizes.
Marshall Leslie, Group SVP, Quality and Operations at Vizient Inc. commented, “In 2020, Vizient formed a subcontractor relationship with RVH Solutions to enhance our expert-led, analytics-enabled Workforce Solutions offerings to our member hospitals. With this new exclusive strategic partnership, we will be able to fully integrate Teamwrks’ near real-time analytics, automated opportunity identification and improved dashboard visualizations to strengthen our position as a solutions provider in the workforce space.”
“Healthcare today, especially as we emerge from COVID-19, is facing enormous operational challenges representing billions in financial opportunity. Health system leaders must improve financial performance while ensuring the highest quality care for their patients. By employing a proprietary mix of artificial intelligence and machine learning tools in a collaborative environment, the Teamwrks Technology Suite has cracked the code in driving operational improvement while engaging staff to ensure buy-in and long-term sustainability,” said Jason Palmer, CEO of RVH Solutions. “Vizient’s investment further validates the remarkable value of the Teamwrks technology and opens the door for even broader adoption by Vizient member hospitals.”
“Having been intimately involved with the Company since its founding, we are thrilled with the Company’s growth and with the remarkable value their technology is bringing to regional hospitals and large health systems across the country. This exciting growth is exemplified by their partnership with Vizient. We are pleased with this round of funding and with our alignment alongside an incredible partner in Vizient accelerating the opportunities in front of RVHS,” stated Thomas Rizk, CEO and Chairman of Rizk Ventures and board member at RVH Solutions.
The team at RVH Solutions anticipates its Teamwrks technology becoming the industry standard for utilizing artificial intelligence and predictive analytics to help better manage healthcare organizations.
About Vizient Inc.
Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% of the nation’s acute care providers, which includes 95% of the nation’s academic medical centers and more than 20% of ambulatory providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $100 billion in annual purchasing volume, to improve patient outcomes and lower costs. In 2021, Vizient acquired Intalere, which expanded its footprint with ambulatory and rural acute care providers. Vizient has earned a World’s Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States.
About RVH Solutions
RVH Solutions provides cloud-based technology so that healthcare organizations can utilize artificial intelligence to improve efficiency as well as patient outcomes. The Teamwrks technology is deployed by healthcare organizations across the country as well as healthcare consultants and advisors to spearhead sustainable change in these organizations.
For more information on RVH Solutions, visit www.rvhsolutions.com.
About Rizk Ventures
Rizk Ventures LLC is a special-situations operating and investment platform with a focus on healthcare, technology and real estate. Rizk Ventures has deep expertise in the healthcare industry, specifically in the healthcare technology and Software-as-a-Service (SaaS) spaces. The investment firm was founded by Thomas and Linda Rizk and has been an investor in RVH Solutions since 2015 when the company began.
For more information on Rizk Ventures, visit www.rizkventures.com.