We operate a universal technology platform that verifies data and information, enabling different stakeholders to trust its accuracy. Introducing trust into the decision-making process enables our customers—many of whom are in highly regulated markets—to make more informed decisions, reduce risk, and improve operational efficiencies.
We currently operate in addressable markets with significant unmet demand for higher quality at lower costs. In the United States, Canada and United Kingdom, we have established a longstanding leadership position in the vendor credentialing market.
This leadership position creates a significant “network effect” which enables scalability, promotes user loyalty, and enhances our value proposition, all while maximizing our pricing power and profitability.
We launched our vendor credentialing solution, RepTrax (now SEC³URE Passport), in 2007, and have developed add-on services to complement the community ever since. In 2018, we expanded SEC³URE to include credentialing services for medical staff, doctors, nurses, and clinical contractors—all of whom are paying subscribers.
Our service-oriented platform and innovative business model have accumulated a member community of approximately 641,000 Rep subscribers, approximately 121,000 of whom are paying subscribers.
The potential for further growth in the vendor credentialing market is significant, and by leveraging our leading position, service-oriented technology platform, and 10-year track record of introducing trusted information to Loc subscribers, we believe our success can be replicated in other vertical and geographic markets.
To address the significant need for trusted healthcare information in Asia, we have recently established a joint venture in China, which will introduce the technology platform there.