This week, well being knowledge 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 prospects.
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 the 2 offers, Arcadia is sharpening its concentrate on offering the best knowledge and know-how to allow value-based care, as an alternative of working in each the know-how and providers sides of value-based care enablement, Meucci declared.
The brand new merger combines Arcadia’s knowledge platform, analytics and workflow instruments with CareJourney’s trove of knowledge on price, high quality and benchmarks. CareJourney’s dataset is derived from claims knowledge throughout Medicare, Medicaid, Medicare Benefit and industrial plans, representing greater than 300 million beneficiaries and over 2 million suppliers nationwide.
“To oversimplify, [Arcadia] has a fantastic knowledge platform and numerous good knowledge engineers. When prospects purchase Arcadia, they’re shopping for us to take their knowledge and put it into our platform. CareJourney has a bunch of actually good knowledge scientists — they don’t do a lot with customer-specific knowledge, however they’ve entry to CMS’ innovation knowledge 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 have the ability to supply a greater suite of merchandise round “the unified imaginative and prescient of utilizing knowledge to remodel the best way we ship care,” he added.
He additionally stated that the merger will assist Arcadia differentiate itself from opponents like Datavant, Innovaccer and Well being Catalyst.
“Analytics is usually the place [Arcadia] is the strongest. Our analytics fashions are a number of the finest out there, and CareJourney additional enhances that. So we’re seeking to construct them an increasing number of to strengthen that differentiation for patrons,” Meucci remarked.
On account of the acquisition, Arcadia now owns all of CareJourney’s merchandise and prospects, and the merchandise have been renamed “CareJourney by Arcadia,” he defined. Sooner or later, he stated it’s probably the 2 entities will mix their merchandise, integrating collectively underneath one model.
At the moment, the 2 entities share a few dozen overlapping prospects, 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.
Photograph: Natee Meepian, Getty Photographs