Soda Health vs athenahealth
Side-by-side comparison of AI visibility scores, market position, and capabilities
Soda Health is a healthcare technology platform managing supplemental benefits (OTC, food, fitness, flex cards) for Medicare Advantage and Medicaid members; bridges health plan payments with retail and service providers to reduce health inequity;
About
Soda Health is a healthcare technology company founded in 2020 and headquartered in Atlanta, Georgia, that operates a supplemental benefits administration platform for health insurers — primarily Medicare Advantage and Medicaid plans. As health plans increasingly offer non-medical supplemental benefits (such as over-the-counter health product allowances, food and produce benefits, fitness memberships, and flexible spending cards) to address social determinants of health, Soda Health's platform manages the administration, member experience, and retail fulfillment of these benefits. The platform bridges the gap between health plan benefit design and the retail and service network where members actually use their benefits — simplifying what has historically been a fragmented, confusing experience for vulnerable populations.
$1.7B annual revenue; 160K+ providers, 117M patients; 18.15% EHR market share; 6,713+ companies using 2025; acquired by Bain Capital & Hellman & Friedman Nov 2021 at $17B; AI interoperability 2025
About
athenahealth is a cloud-based electronic health records (EHR), medical billing, and practice management company founded in 1997 and headquartered in Watertown, Massachusetts. The company was built on the principle that healthcare administration should be managed as a service — with athenahealth absorbing the complexity of payer rule updates, regulatory compliance, and billing workflows so that physicians and clinical staff can focus entirely on patient care. Its cloud-native architecture, deployed before most EHR competitors moved to the cloud, remains a core technical differentiator.\n\nathenahealth's platform — athenaOne — integrates EHR, revenue cycle management, patient engagement, and care coordination in a single system used by over 160,000 providers across 117 million patient records. The company serves ambulatory practices ranging from solo physicians to large health systems and medical groups. Its continuously updated rules engine processes millions of payer transactions daily, enabling higher clean claim rates and faster reimbursement compared to on-premise EHR alternatives. athenahealth holds an 18.15% share of the US ambulatory EHR market.\n\nathenahealth is currently owned by a private equity consortium of Bain Capital and Hellman & Friedman, which acquired the company in 2019 for $5.7 billion. Annual revenue stands at approximately $1.7 billion. The company competes with Epic, eClinicalWorks, and Oracle Health in the ambulatory EHR market. Its managed-service model, shared payer network data, and cloud-native infrastructure continue to make it a compelling choice for ambulatory providers who prioritize revenue cycle performance and reduced administrative burden.
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