iHealth Solutions LLC is moving its headquarters and main operations from Virginia to downtown Louisville, solidifying the city’s global reputation as a powerhouse for companies involved in health and business services. The company, which provides technology and other services for medical records, as well as medical billing and claims processing services, plans to create 70 new jobs and invest $1.7 million.
“iHealth is the perfect example of why we focus our business development efforts around our business clusters, as it fits into two of our areas of strength, lifelong wellness and aging care and business services,” Mayor Greg Fischer said. “In fact, more companies engaged in lifelong wellness and aging care are based in Louisville than anywhere else in the world. We know iHealth brings a needed service to our health industry and we look forward to working with them.”
“iHealth will make an outstanding addition to the healthcare landscape in Louisville, which continues to grow,” said Gov. Steve Beshear. “We’re thrilled to see 70 new jobs and are always excited to have innovative leaders join the community as a result of a new corporate headquarters.”
iHealth will move its corporate headquarters into Meidinger Tower on South Fourth Street this summer. The company expects the move will help grow its business and generate new clients nationwide.
“Louisville may be situated 738 miles from Wall Street, but it is at the heart of an active hub for healthcare,” said Venkat Sharma, CEO of iHealth. “We are excited about setting up our headquarters in Louisville and growing the company nationally – offering technology-enabled services to physician practices as well as hospitals across the United States.”
iHealth is a leading healthcare services and technology company focusing on revenue cycle support for physician offices and hospitals. Services include electronic health records, medical billing and collection, medical coding and medical information technology support. In addition to its U.S. operations, the company also has more than 50 employees in India.
The healthcare industry is one of the largest in Louisville with more than 31,000 people currently employed in healthcare-related and occupations, while more than 13,000 are employed in healthcare support jobs.
To encourage investment and job growth in Jefferson County, the Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives of up to $350,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.