Exactly one year ago today, on October 5, 2015, the Talix brand launched at the Health 2.0 conference in Santa Clara. Following the conference we celebrated with a launch party at a local winery in San Francisco, where we all raised a glass to the new, exciting adventure in front of us.
Talix Launch Party
Just three short months later, on January 8, 2016, Talix celebrated its first day as a standalone company. We had spun out of Healthline Media after my investors and I sold the fast-growing consumer health information site to Summit Partners for over $95 million. While it was just our first day as a company we had grabbed 15 years of intricate software IP development around mining unstructured health text. We combined that knowledge with 50 of the best engineers and medical informatics people on the planet to give Talix an immediate presence in the marketplace.
It’s been a whirlwind of a ride since we raised those glasses at the winery! I couldn’t be more proud of our hard-working and talented team of developers and product managers, sales and marketing, finance, IT and HR staff, and board members and investors. Every one of them has played an integral part in vaulting us to so much success in such a relatively short period of time. Anniversaries are the perfect time to both reflect back as well as look forward, so I hope you’ll join me and read on as I do a little of both.
A Very Successful First Year
A lot has happened in this first year since Talix officially became a brand:
Coding InSight Product Launch
Of course, along with all the hard work, there’s been plenty of fun and a lot of memorable moments:
We’re not afraid to show off our products!
Year Two…and Beyond
I couldn’t be more excited about what’s in store for Talix as we head into our second year and beyond.
Why? If I had to boil it down to one word, it’s MACRA. Along with the vast majority of our Republican and Democratic representatives in the United States Congress who approved it, we believe that MACRA is the vehicle for pushing the market into a true value-based contracting model. Value-based care and Alternative Payment Models will ensure that the fee-for-service death spiral continues and that risk contracting and risk adjustment will replace it.
The migration to value-based care is accelerating. By 2020, we can expect value-based contracts will cover half of the insured population in the U.S. This shift will lead to better care outcomes, better cost management, and more access to care. All of it will rely on the technology-enabled power of patient information.
That’s good news for Talix. It’s great news for anyone who wants high quality and affordable healthcare for themselves and their family.
And, of course, we have more product launches on the horizon. Talix will continue to find innovative ways to help providers and payers master risk adjustment and address the challenges of value-based healthcare and risk-based contracts.
I want to sincerely thank our colleagues, customers, partners, investors, family and friends for all their support in making Talix’s first year such a success. I look forward to many more!