Healthcare information platform firm Arcadia has acquired CareJourney, a supplier of healthcare information and AI-powered analytics to help organizations’ value-based care journeys.
The deal is designed to ship on Boston-based Arcadia’s imaginative and prescient of constructing an interoperable information platform that accelerates and sustains healthcare transformation. With the acquisition, Arcadia’s portfolio of supplier, payer, authorities, and life science prospects totals practically 200.
“The transaction marks the start of a brand new chapter of development for our enterprise, with plans to enhance healthcare outcomes by way of data-driven insights and AI-driven instruments and develop additional our supplier, payer, and authorities sectors,” mentioned Michael Meucci, president and CEO of Arcadia, in a press release. “Arcadia dedicated to utilizing $125 million in financing from Vista Credit score Companions to speed up platform innovation, firm development, and management in healthcare information analytics. We did precisely that by launching a next-generation information platform for healthcare, increasing our ecosystem of options and companions to drive innovation, and now buying CareJourney, a pacesetter in serving to healthcare organizations thrive by way of actionable analytics and insights.”
“Attaining near-universal accountable care by 2030 requires actionable insights at each important second in care supply,” mentioned Aneesh Chopra, president of CareJourney and former U.S. chief expertise officer, in a press release. “By merging CareJourney’s superior information science with Arcadia’s information engineering and operational instruments, we are going to equip suppliers and payers with the instruments to handle prices, construct high-performing networks, and excel in value-based care.”
Going ahead, CareJourney will grow to be CareJourney by Arcadia and Chopra will grow to be chief technique officer of Arcadia. Arcadia mentioned the acquisition blends its healthcare information platform, proprietary analytics, and workflow instruments with CareJourney’s price, high quality, and benchmark information. CareJourney derives analytics from Medicare, Medicaid, Medicare Benefit, and industrial claims information throughout greater than 300 million beneficiaries and over 2 million suppliers nationwide. Payers, suppliers, and employers use these insights to speed up development and enhance efficiency.
With the combination of CareJourney, Arcadia mentioned it might assist healthcare organizations reach two methods. First, delivering an expanded breadth of knowledge to gas superior analytics that assist organizations form their methods and concentrate on what issues — like navigating various cost fashions, market growth, and new partnership fashions. Second, a quick, scalable, and interoperable platform with the operational instruments required to behave and execute alternatives to enhance affected person and monetary outcomes. Arcadia described the advantages of the acquisition this fashion: For Arcadia prospects, the acquisition will present entry to further information sources for enhanced benchmarking, community efficiency modeling, and evaluating development methods. For CareJourney prospects, the combination will provide a sturdy healthcare information platform with enhanced pace, reliability, and scalability, in addition to workflow tooling to attach insights to motion. Arcadia’s prospects embody Southwestern Well being Sources, Tandigm, Castell, Rush Well being, and Beth Israel Lahey Well being.
“As our well being system matures our strategy to value-based care, I am delighted to see two of our most trusted information platform companions coming collectively,” mentioned Omar Lateef, D.O., president and CEO of Rush College System for Well being and Rush College Medical Heart, in a press release. “We are going to profit from their collaborative strategy to grasp develop responsibly and execute extra exactly.”
