Health information network Availity has agreed to buy Diameter Health, a clinical data quality and interoperability company, for an undisclosed sum.
The companies say their offerings are complementary and that the integration of Diameter Health’s technology into Availity’s existing clinical data gateway capabilities allows Availity to provide one of the most integrated clinical data and claims networks robust and interoperable platforms in healthcare.
Launched in Jacksonville, Florida in 2001 as a joint venture between Florida Blue and Humana, Availity’s original mission was to reduce administrative abrasion between payers and providers in Florida by digitizing manual, inefficient and time-consuming processes. . Today, Availity’s investor base includes the original founders, HCSC, Anthem and Novo Holdings Inc.
Payers and providers use Availity’s solution to exchange information without picking up the phone. Availity facilitates billions of clinical, administrative and financial transactions each year. Earlier this year, Availity formed a strategic alliance with PriorAuthNow to form what the companies are calling the healthcare industry’s largest integrated prior authorization network.
Founded in 2013, Diameter Health, based in Farmington, Connecticut, said it supports stakeholders in the healthcare ecosystem whose success depends on timely and accurate clinical data at the patient and population level. Customers include health insurance organizations, health information exchanges (HIEs) and data aggregators, life insurance and insuretech providers, government agencies and technology solution providers. health information and systems integrators.
Availity said the combination of their solutions will fuel innovations in value-based care arrangements, provide seamless information exchange between providers, health plans and technology partners, and standardize structured and unstructured clinical data. structured for digital use cases.
“This acquisition underscores Availity’s strategy to enable providers and health plans to benefit from actionable, real-time, and accurate data insights to reduce administrative inefficiencies, maximize revenue potential, and improve the quality of care for patients on a scalable platform,” Russ said. Thomas, CEO of Availity, in a statement. “Powered by Diameter technology, Availity will create the nation’s preeminent data acquisition and interoperability platform. We are excited to leverage the talents and energy of the Diameter Health team to deliver an integrated clinical data and claims platform that delivers real-time, intelligent, two-way workflows and insights.
Diameter Health said its Fusion API technology automates the process of “recycling” clinical data in real time, transforming inconsistent, multi-source and multi-format data into a robust longitudinal data asset.
“Clinical data is extremely valuable, but the ability to structurally and semantically normalize multi-source, multi-format clinical data, and further enrich and deploy that data to drive action is still an emerging capability in the field. of health. Diameter Health is a leader in harnessing the full potential of clinical data,” said Mary Lantin, president and chief operating officer of Diameter Health, in a statement. “Harnessing the power of clinical data is a critical opportunity for Availity. By combining our complementary capabilities and standing at the intersection of providers, health plans and data partners, we have the opportunity to truly disrupt the healthcare industry and innovate in the advancement of intelligence. Datas.
The companies said the combination of Diameter’s API technology and Fusion engine with Availity’s clinical gateway capabilities will enable health plans, providers and partners to:
- Acquire and streamline clinical data acquisition through an extensive network of vendors, vendors and partners
- Recycle clinical data into a clean, clear, and accurate asset by normalizing data to industry-standard terminologies, intelligently reorganizing and deduplicating disparate data sources, and leveraging clinical informatics best practices
- Create a summary, complete and longitudinal health record
- Deliver fit-for-purpose data and enable two-way, intelligent workflows that support care gap reduction, quality measurement, risk adjustment, automated pre-authorization, care management and other data-driven use cases
The transaction is expected to close during the third quarter of 2022. Additional details regarding the transaction were not disclosed.