Healthcare IT Grows in Niche Market

by RaeAnne Marsh

clipboard-stethoscope-bar-graphPhoenix-based Topaz, a healthcare IT company that recently underwent a rebranding to support its evolution to a national provider of healthcare technology solutions, has grown since its founding in 2008 from a staff of two focused solely on the Arizona market to a staff of 43 with clients in nine states. Javier Favela, president and CEO, credits that in large part to “a shift in the healthcare industry to a more integrated approach to care.”

The company focuses on the specific needs of behavioral health and social services organizations, developing clinical content (“by clinicians for clinicians”) and custom practice management solutions in partnership with NextGen®. Says Favela, “We are one of few products on the market with content that can support their needs.” It was founded, in fact, by two large, community-based behavioral health organizations. The wide variety of behavioral health specialties ranges from outpatient mental health to the autism spectrum, and there is also a big focus on organizations such as those that serve foster children.

Favela believes the shift in payment models from fee-for-service to pay-for-performance has also helped his company, with Topaz enabling its customers to achieve better results. “We have an impact on the patients our organizations serve and on the payers our organizations contract with,” he says.

Topaz recently moved to an 11,300-square-foot Class A office space in the Xerox building, located at 2700 N. Central Ave. in Phoenix, where it projects to bring on an additional 20 employees over the next year.

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