As an industry veteran, with over 25 years of experience building healthcare businesses, Steve Palma knows what it takes to successfully scale a business. As President and General Manager of Penstock, Steve is committed to delivering comprehensive payment accuracy solutions that address systemic errors in healthcare claim payments.
Steve has dedicated his professional career to developing and leading innovative industry solutions. He spent the first ten years of his career learning and taking on increasing levels of responsibility at Oxford Health Plans—specializing in claims adjudication and accuracy and later tackling payment integrity in emerging high-cost trend areas, including specialty pharmacy. After learning the ins and outs of complex payment integrity within the payer space, Steve co-founded WayMark Associates, an innovative claim overpayment identification and recovery firm that worked on behalf of health plans. Steve has also held operational, strategic client services and sales executive management roles within Goodroot, Emblem Health, Cotiviti, and Clarity Software Solutions.
Steve’s leadership at Penstock is driven by a deep understanding of the healthcare ecosystem and a passion for creating meaningful change. He believes that true payment accuracy isn’t just about identifying errors—it’s about building proactive, sustainable solutions that prevent overpayments from happening. With a track record of developing successful payment integrity strategies and fostering collaborative client partnerships, Steve continues to push the industry forward, ensuring that health plans, providers, and patients all benefit from greater transparency and accuracy.
