WESTBOROUGH, Mass. /Massachusetts Newswire/ — Advalent Corporation, a claims administration and medical management platform for complex value-based care products and Medvensys, a leading cloud-based analytics technology in clinical and financial outcomes for healthcare organizations announced today that they have entered a definitive agreement whereby Advalent has agreed to acquire Medvensys.
Together the complementary companies will provide an end-to-end system that will enhance actionable insights into provider performance and give Payers, Payviders, ACOs and risk-bearing entities the best possible outcomes and prices in clinical quality, value-based contracting and risk adjustment as they make the transition from Fee-For-Service to Fee-For-Value.
“We are thrilled to add Medvensys to the Advalent family, which has become an important player in helping us succeed in a risk-based environment,” said CEO of Advalent, Brian Lichtlin. “It is important for risk-bearing entities to have differentiated care platforms that align with big-data analytics to monitor quality metrics and highlight care gaps to help providers with bundled payment arrangements. Success with value-based care requires providers to eliminate gaps in care as early as possible and together our platform is able to adapt in a quick changing marketplace.”
Dr. Kallakuri, Founder of Medvensys said, “We expect today’s transaction to bring unique data-driven capabilities that will identify gap risks and actionable gaps with Advalent’s platform. What Advalent is doing in the marketplace with its care-management and administrative platforms combined with our analytics solutions, creates extreme high value for the healthcare market place in terms of value-based care solutions and value-based contracting. With this acquisition, we will create an organization that offers end-to-end solutions to drive differentiated care platforms and sustainable clinical and financial efficiencies year-over-year to healthcare organizations throughout the nation.”
“Medvensys is a strategic fit with our investment strategy at Advalent as we continue to strengthen our platform to provide value-based products to payers,” said Lichtlin.
Medvensys Network 360 platform has a proven record of driving clinical and financial improvements for care organizations. Medvensys has expert understanding with the integration of artificial intelligence, natural language processing and its ability to dig deeper in risk adjustment, care, quality and performance gaps. These solutions bring major advancements as the transition to value-based care grows.
Advalent was founded in 2013 with the mission to advance core-administration technology used by Payers, Payviders and ACOs to compete in value-based care. They have created flexible, easy-to-use solutions that enable payers with the automation needed to increase operational efficiencies across multiple lines of business including Commercial, Medicaid, Medicare Advantage and Commercial Risk. Advalent has created a platform-as-a-service for the most complex value-based products to respond in real-time as the industry continues its push towards value-based care. More information: https://www.advalent.com/
Medvensys was founded in 2015 and is a leading healthcare technology and outcomes company that combines cloud-based analytics and analytics-drive interventions to improve financial and clinical outcomes for healthcare organizations-including payer and providers. Medvensys’s proprietary suite of analytics include several platforms to identify Risk Adjustment, Care, Quality and other performance gaps; all of which are designed and developed by leading mathematicians, clinicians and data experts. Through its people, processes and platforms, Medvensys bring sustainable clinical and financial improvements to the healthcare industry. More information: http://www.medvensys.com/.
News Source: Advalent Corporation