QuadraMed Corp. / QD

About QuadraMed Corp.

12110 Sunset Hills Rd., Suite 600, Reston, Va. 20190
www.quadramed.com | 703-709-2300 | Founded: 1993

Industry: Information Technology | Category: Top 100 Companies

The past year was one of rebuilding and transition for QuadraMed, which has gone through a harrowing series of problems over the past few years. Tighter federal rules forced the company to rework some of its accounting. That prompted an investigation by the Securities and Exchange Commission and financial problems that threatened the company with bankruptcy. The company has largely resolved those problems and settled the SEC investigation with no findings of serious wrongdoing. But company executives acknowledge the problems were a huge distraction — and competitors weren't above pointing them out to QuadraMed's potential customers.
Now the company has a new chief executive, Keith Hagen, who took over last fall after Lawrence P. English, the former chief, restructured the company and cleaned up its balance sheet. The company is focused on a strategy for growth, he said.
QuadraMed confronts some competitors 10 times its size as it seeks to persuade hospitals to buy its software and services. But the market for health-care automation is growing, with huge pressure coming from the federal government to improve medical care and clean up errors by using computers to keep better track of patients and their treatments. QuadraMed has been losing money but generates positive cash flow — to reach sustained profitability, the company will need to grab a bigger share of that expanding market for health-care software.
"I'm confident that QuadraMed's best days are ahead," Hagen told investors in a recent conference call. Later, in an interview, he said that he had put a new management team in place and that the group was working to lay out a strategic vision for the company and get employees on board.
"We know this industry," Hagen said. "We know the products. We know the customers. Now our job is to grow the business and get us really focused on the operations."

2007 Financial Data

Total employees: 625 | Local employees: 275