As the year ends, we at URAC have much for which we can be proud. 2018 was another year of strong financial performance. We will finish the year with a strong operating margin, achieving the highest revenue in our history. While we continue to be challenged by a significant lag in new business sales, our management of the organization resulted in our achievement of other financial goals.
We also had strong performance against other benchmarks, including interrater reliability and customer satisfaction, both internal and external. We developed a new Medicare Advantage program and received word on December 28th that CMS has publicly reported our deemed status for Medicare Advantage.
In a landmark case, our right to deny accreditation to an applicant was challenged in Federal District Court. Several of our URAC colleagues worked tirelessly for weeks, hoping to achieve a positive outcome. Our attention to detail, our commitment to quality and due process, strong arguments and hard work paid off. In a landmark decision, the judge ruled in URAC’s favor. The court ruling provides protection for other accreditors that provide a rigorous process, not just URAC.
We have said goodbye to colleagues, wishing them well in their educational pursuits and personal milestones, and we have recruited some incredible new talent to strengthen our ranks. We are looking forward to welcoming a new CEO in the first quarter of 2019.
Our accomplishments are too numerous to mention. I take great pride in knowing I have been able to repeat that phrase each year since my arrival 5 years ago as URAC’s CEO. As you know, my last day at URAC will be February 1st, 2019. I have grown rich in spirit from the wealth of the talent and the accomplishments of this organization and will carry it with me wherever I go. Thank you for all you have done, for URAC, and for me.
