This week, well being information platform Arcadia made an acquisition that CEO Michael Meucci thinks will give the Boston-based firm the info it wants to supply a extra complete suite of value-based care know-how for its clients.
It purchased Arlington, Virginia-based CareJourney, a well being analytics agency designed to facilitate participation in value-based care contracts.
The acquisition comes six months after Arcadia bought its value-based care service division to Guidehealth. By way of the 2 offers, Arcadia is sharpening its concentrate on offering the appropriate information and know-how to allow value-based care, as an alternative of working in each the know-how and companies sides of value-based care enablement, Meucci declared.
The brand new merger combines Arcadia’s information platform, analytics and workflow instruments with CareJourney’s trove of information on price, high quality and benchmarks. CareJourney’s dataset is derived from claims information throughout Medicare, Medicaid, Medicare Benefit and business plans, representing greater than 300 million beneficiaries and over 2 million suppliers nationwide.
“To oversimplify, [Arcadia] has a fantastic information platform and plenty of good information engineers. When clients purchase Arcadia, they’re shopping for us to take their information and put it into our platform. CareJourney has a bunch of actually good information scientists — they don’t do a lot with customer-specific information, however they’ve entry to CMS’ innovation information house, the place they create actually attention-grabbing insights, about issues like particular person geographies and markets or particular person supplier efficiency,” Meucci defined.
By mixing these two corporations, Arcadia will be capable to provide a greater suite of merchandise round “the unified imaginative and prescient of utilizing information to remodel the way in which we ship care,” he added.
He additionally stated that the merger will assist Arcadia differentiate itself from rivals like Datavant, Innovaccer and Well being Catalyst.
“Analytics is often the place [Arcadia] is the strongest. Our analytics fashions are among the finest available in the market, and CareJourney additional enhances that. So we’re trying to construct them increasingly more to strengthen that differentiation for purchasers,” Meucci remarked.
Because of the acquisition, Arcadia now owns all of CareJourney’s merchandise and clients, and the merchandise have been renamed “CareJourney by Arcadia,” he defined. Sooner or later, he stated it’s seemingly the 2 entities will mix their merchandise, integrating collectively below one model.
At present, the 2 entities share a few dozen overlapping clients, together with Windfall and Rush College System for Well being, Meucci added.
The deal additionally resulted in some management modifications, with probably the most notable being that Aneesh Chopra — president and co-founder of CareJourney, who additionally served federal authorities’s first-ever chief know-how officer — is now Arcadia’s chief technique officer.
Picture: Natee Meepian, Getty Photos
