Nuance Communications | November 21, 2020
Nuance Communications, Inc. today declared the arranged offer of the Health Information Management (HIM) Transcription business and the Electronic Health Record (EHR) Go-Live Services business to another autonomous organization, DeliverHealth Solutions LLC (DeliverHealth), framed by Assured Healthcare Partners® (AHP®) in association with Aeries Technology Group (Aeries). The HIM Transcription business incorporates both Nuance Transcription Services (NTS) and the eScription innovation stage. The exchange is relied upon to be finished in mid 2021. Nuance will be a minority investor of DeliverHealth and will keep on giving its innovation to the organization.
The sale provides mutual strategic and commercial benefits for customers, Nuance, and DeliverHealth by:
Giving existing customers continued service quality, newly expanded offerings, and enhancements from DeliverHealth in close collaboration with Nuance
Enabling Nuance to focus its innovation and market resources as a pure-play conversational AI market leader while providing continuity of EHR Go-Live Services and HIM Transcription businesses to existing and new customers via DeliverHealth
Empowering DeliverHealth to leverage a leading position in healthcare professional and technology-enabled services, expand global market share, advance growth plans for the EHR Go-Live and Optimization Services, and provide enhanced HIM technology and services to a worldwide market in partnership with Nuance
Nuance's development and market authority in medical care are driven by the quickening appropriation and advancement of its center cloud-based AI arrangements, including the Nuance® Dragon® Ambient eXperience™ (Nuance DAX™) ambient clinical knowledge (ACI) arrangement, Nuance Dragon Medical One, Nuance CDE One, and its variety of demonstrative imaging arrangements, for example, PowerScribe One™ and PowerShare™.
"The dramatic acceleration in the digital transformation of healthcare continues as organizations deploy the power of conversational AI and deeply integrated cloud-based solutions at scale to address physician burnout, expand patient access, and improve system efficiencies and the revenue cycle," said Mark Benjamin, CEO of Nuance. "With this strategic transaction, we're aligning our resources to increase our market and technical leadership position in high-growth, high-impact areas that help our customers in a transformative way to improve patient care and operational performance. At the same time, we're enabling the medical transcription and EHR Go-Live Services businesses to reach their full potential as a separate, focused company benefiting from the enhanced investment and operational experience of AHP and Aeries and technology support from Nuance."
Michael Clark, current Senior Vice President and General Manager of Provider Solutions at Nuance, will become DeliverHealth's CEO when the transaction closes. "This transaction will allow the EHR Go-Live Services and HIM Transcription businesses to focus on growth and expansion of value-add solutions. The continuing strategic relationship with Nuance, the continuity of leadership, and our people's engagement will ensure that our customers will continue to receive the outstanding service, technology, and value that they have come to expect," said Michael Clark. "The combination of a deeper strategic focus, our partnership with Nuance, the commitment of our team, and the support provided by AHP and Aeries will create a winning formula for our customers and our employees."
The deal exhibits Nuance's proceeding with execution to center R&D interests in the medical services and endeavor markets – where the organization has significant upper hands and open doors for development and worth creation. In 2019, for instance, Nuance sold its record imaging business to Kofax and spun-off its car business into Cerence, Inc., an autonomous, traded on an open market organization.
About Nuance Communications
Nuance Communications is a technology pioneer with market leadership in conversational AI and ambient intelligence. A full-service partner trusted by 90 percent of U.S. hospitals and 85 percent of the Fortune 100 companies worldwide, Nuance creates intuitive solutions that amplify people's ability to help others.
FUTURE OF HEALTHCARE
Avalon Healthcare Solutions | February 19, 2022
Avalon Healthcare Solutions, LLC, DBA Avalon Healthcare Solutions, is pleased to announce a new collaboration to provide genetic testing management to Capital District Physicians' Health Plan, Inc. (CDPHP®).
Lab testing is the gateway to appropriate diagnosis and treatment plans, and there are more than 13 billion lab tests performed annually in the U.S. Those results influence 70 percent of all medical decisions. Lab testing is highly complex and constantly evolving, creating challenges for health plans to navigate.
Avalon, the world's first Lab Insights company, takes lab benefit and value management services to the next level, further removing waste and abuse from the system, while also improving clinical outcomes. Avalon helps its clients provide earlier disease detection for their members and drive treatment protocols to accelerate the Triple Aim of improving the patient experience, improving the health of populations, and reducing the per member cost of healthcare.
Avalon and CDPHP are focused on using the latest technology, evidence-based medicine, and provider education to ensure high-quality, cost-effective laboratory services to drive appropriate care for CDPHP members. Avalon's innovative management services unlock the power of lab data, expanding the view to encompass the entire patient journey, optimizing treatment, improving outcomes, and driving down costs.
"We are pleased to join together withCDPHP and bring our proven history of management, as well as our innovative approach to unlocking new possibilities. The CDPHP focus on improving the health and well-being of its members and communities is perfectly aligned with Avalon's mission to help our clients enable value-driven care in this dynamic and increasingly challenging environment."
Bill Kerr, MD, Chief Executive Officer at Avalon
"For nearly 40 years, CDPHP has been committed to lowering the total cost of care while preserving the high-quality service our members and the community at-large have come to expect," saidElizabeth Warner, MD, Senior Vice President of Member Health, CDPHP. "This new venture with Avalon Healthcare Solutions will further our mission of ensuring care is delivered at the right place, at the right time, and with the best outcome possible for each and every member we serve."
About Avalon Healthcare Solutions
Avalon Healthcare Solutions is the world's first and only Lab Insights company, bringing together our proven Lab Benefit Management solutions, lab science expertise, digitized lab values, and proprietary analytics to help healthcare insurers proactively inform appropriate care, reduce costs, and improve clinical outcomes. Working with health plans across the country, the company covers more than 36 million lives and delivers 7-12% outpatient lab benefit savings. Avalon is pioneering a new era of value-driven care with its Lab Insights Platform that captures, digitizes, and analyzes lab results in real time to provide actionable insights for earlier disease detection, ensuring appropriate treatment protocols, and driving down overall cost.
Established in 1984, CDPHP is a physician-founded, member-focused and community-based not-for-profit health plan that offers high-quality affordable health insurance plans to members in 29 counties throughoutNew York.
HealthworksAI | December 29, 2021
HealthWorksAI™, an industry-leading Healthcare analytics company, announces the launch of the 2nd generation of their state-of-the-art xAI program. It's an advanced analytical approach that collects and processes data, generating in-depth market analysis which standard models do not uncover. Allowing data scientists an efficient way to measure the impact of various plan attributes/factors, xAI provides a better understanding of the correlation between plan features and beneficiary preference. It also provides insights into the influence of multiple verticals at the market level. The models are then combined with the human-computer interface (HCI) features capable of translating models into practical explanations for end users.
"We use a combination of Rule-based algorithms, Random Forest, and Artificial Neural Networks to develop our proprietary prediction, classification, and performance metrics," says Shreya, Data Scientist of HealthWorksAI™. "Advanced analytics & xAI comes to play in the modeling and evaluation phases of data mining. To achieve this, we use LIME and DeepLIFT, as an example, to achieve far superior results."The xAI program, released in early 2021, has been a huge success for HealthWorksAI, leading as their most subscribed platform module in its first year. The 2nd generation, which will see releases begin in early Q2, includes multiple platform enhancements as well as new approaches to xAI methodologies.
"We're excited to announce the expansion of our xAI program for MA Payors. One of the defining aspects of our company is the partnership our clients provide. We appreciate their faith and confidence and look forward to delivering even more for them in 2022!"
Jereme Ayers, Chief Growth Officer of HealthWorksAI
HealthWorksAI™ is a privately held healthcare data analytics company in the US that provides healthcare payors with rapid access to very efficient and insightful Medicare Advantage market data, accurate predictions, and a reliable single source of truth for strategic decision-making.
It is the only company in the industry to accurately predict the enrollments for all the health plans down to the county level within 72 hours of the CMS' (Center for Medicare and Medicaid Services) big reveal on October 1st every year.