AI value-based care platform buys division of data analytics company Arcadia
21 Dec 2023
Acquisition
Preview
Source: mobihealthnews
Photo: Jamie Grill/Getty Images
GuideHealth, an AI-enabled value-based care provider for health systems, announced it acquired healthcare data analytics company Arcadia's value-based care services division and managed services organization.
The company also announced it signed an agreement with Arcadia to leverage its data analytics platform to power the acquired offerings, which will work in conjunction with its predictive and generative AI.
GuideHealth's value-based care platform offers providers AI insights into which patients need specific care before a preventable health event, virtual health guides for patient/provider and community connection and engagement, and tools for workflow.
Arcadia's managed services organization gives providers tools for network administration, overseeing preauthorization, managing payments, and improving processes regarding visit access and referrals.
"Our acquisition of the MSO significantly accelerates our plans to take the teams' expertise with referral management, prior authorizations, and utilization management and supercharge it with data, technology and AI. This addresses many of the challenges currently faced by health systems and their network providers and complements the value-based care outcomes we create for our customers," Dr. Sanjay Doddamani, founder and CEO of GuideHealth, told MobiHealthNews in an email.
"We believe this unique combination will stabilize health systems finances and create a strong foundation for improved patient outcomes and access."
THE LARGER TREND
Earlier this year, Arcadia raised a whopping $125 million in funding. In 2020, the company garnered $29.5 million in growth equity investment.
In September, Arcadia launched a generative AI assistant to generate insights from data at the point of care. It utilizes large language models (LLMs) powered by OpenAI and analyzes patient records to give providers insights into healthcare utilization patterns, develop care plans and more.
Earlier this month, Hippocratic AI, a generative AI company developing safety-focused LLMs for healthcare, announced the launch of its Early Access Partnership Program to support the development of its technology. GuideHealth was one of the Early Access Partners. The company said the partnership allows it to get wellness and clinical updates from patients directly from patients.
Tags: Arcadia, GuideHealth, managed services organization, data analytics platform
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