Veradigm
Ambulatory RCM, clearinghouse network, and healthcare data at scale
Our take
Veradigm is the renamed Allscripts (founded 1986), a Chicago healthcare technology company spanning provider software, payer analytics, and life sciences data. For providers it sells the Veradigm EHR and Practice Fusion, practice management, outsourced RCM services (expanded through the 2024 Koha Health acquisition), and Payerpath, a clearinghouse used by more than 300,000 providers that Black Book has ranked first in physician claims management for four straight years. Its newer Ambient Scribe adds AI documentation inside the EHR.
The company's technology story is complicated by its finances: accounting problems left it unable to file timely reports, and Nasdaq delisted the stock in 2024, moving it to OTC markets under MDRX. A sale process was explored and abandoned, and management has since focused on restating financials and cross-selling the Veradigm Network across providers, payers, and biopharma, reporting over $30 million in Q1 2025 annual contract value bookings, up 25% year over year. Buyers get real scale but should price in the corporate turbulence.
What it does
- Payerpath clearinghouse serving 300,000+ providers
- Outsourced RCM services (Koha Health acquisition)
- Veradigm EHR and Practice Fusion for ambulatory care
- AI Ambient Scribe for clinical documentation
- Payer analytics and risk adjustment
- Real-world data for life sciences research
Where it's strong
- Payerpath is repeatedly ranked the top physician claims clearinghouse by Black Book.
- One vendor covers EHR, clearinghouse, RCM services, and an ambient scribe for ambulatory groups.
- Its provider network gives it data assets few RCM vendors can match.
What buyers should weigh
- Accounting failures got the stock delisted from Nasdaq in 2024; it still trades OTC while restating financials.
- Strategic uncertainty lingers after an abandoned sale process and repeated leadership changes.
- The EHR products are legacy Allscripts assets with slower innovation than newer rivals.
Latest
In November 2025 Veradigm launched enhanced Ambient Scribe capabilities for its EHR customers while continuing to work through delinquent SEC filings as an OTC-traded company.
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