Application service provider Bloodhound
Inc. has appointed a new president and chief executive officer.
Bloodhound, which focuses on claim overpayment protection services for health insurers, HMOs, and other medical payment organizations, named Gary G. Twigg to the position on Wednesday.
He succeeds William Chastain, who also had served as president and CEO. Chairman George Mackie had been named interim CEO in March as a search for a successor to Chastain continued.
Most recently, Twigg was the general manager of the Integrated Medical Solutions Group of ADP, a provider of medical bill review and related services to the property and casualty insurance industry. In 1992, ADP acquired National Biosystems, where Twigg was a founding partner and chief operating officer. During his tenure with National Biosystems and ADP, the company and business unit averaged over 30% annual revenue growth.
“I am impressed by Bloodhound’s technology and strategic vision and believe the company is well-positioned to lead the process change that is needed in the health claims market,” Twigg said in a statement. “Coupled with the bench strength of the staff, Bloodhound will continue on its fast track to produce positive results for its clients and introduce technological innovations for the industry.”
Since its founding in 1997, RTP-based Bloodhound says it has processed over $6 billion in medical claims and currently serves over 20 customers in the group health insurance industry. Through its ClaimsGuard Overpayment Protection Service, Bloodhound helps medical bill payors achieve incremental savings after complete medical bill adjudication and re-pricing, but prior to explanation of benefits and payment adjudication.
To date, Bloodhound has raised over $18 million from venture capitalists in the Southeast, including Noro-Moseley Capital, The Wakefield Group, Eno River Capital, Renaissance Ventures, A.M. Pappas & Associates, & The North Carolina Technology Development Authority. These funds were used to launch Bloodhound as an ASP, the company says, and to accelerate customer acquisition and infrastructure build out to support key strategic partnerships and contracts with large-scale customers.
Bloodhound Inc.: www.bloodhoundinc.com