Wethersfield-based Qualidigm, a 37-year-old healthcare consulting nonprofit that’s booked tens of millions of dollars worth of federal contracts over the years, announced Tuesday that it will dissolve.
Qualidigm, which has counted area industry notables such as Anthem President Jill Hummel and nursing home owner Paul Liistro as board members, said it will close on Oct. 1 because its operations are no longer financially sustainable.
PHOTO | Contributed
Qualidigm’s Wethersfield home, 936 Silas Deane Highway.
In a statement, the company, which focuses on care quality and patient safety, cited a “recent business slowdown due to COVID-19, a shift in the federal administration’s focus, [and] dramatic delays and reductions in federal funding.”
Qualidigm, which was recognized by the Hartford Business Journal’s Innovative Office Spaces awards in 2017, had 79 employees that year.
The company, which is led by CEO Timothy Elwell, reported $10.7 million in revenue for fiscal year 2018, and a $707,000 surplus of revenue over expenses.
“While I am saddened by the direction of the organization, I am proud of our history, accomplishments, and our long-standing reputation as a high-performing quality improvement organization,” Elwell said in a statement. “We are grateful and appreciative of the countless trusted relationships with many stakeholders who are also committed to transforming the quality, safety, and value of healthcare by leading, collaborating, and aligning improvement efforts.”
In 2001, Qualidigm helped develop a program for the federal Centers for Medicare and Medicaid Services (CMS) called the Medicare Patient Monitoring System, which identifies medical errors and patient harm. The company has been helping maintain the system since.
Over the past 10 years, Qualidigm says it has helped CMS avoid $400 million in costs in New England alone.
Qualidigm merged with a similar Maine organization in Jan. 2019.