Olive | December 04, 2020
Prior approvals were the most expensive and tedious exchanges for suppliers in 2019 and are among the top reasons understanding consideration is deferred. As desperate clinics and wellbeing frameworks endeavor to meet patient, payer and supplier needs, the interest for AI innovations to build productivity and improve the patient experience has gotten basic. To help improve persistent admittance to mind and cure the $31 billion prior approval challenge, Olive reported the obtaining of Verata Health to tackle prior approvals for suppliers and payers through artificial intelligence as a joined arrangement under the Olive name.
Verata is a main healthcare AI organization, empowering Frictionless Prior Authorization® for suppliers and payers. Flawlessly associated with the country's top electronic wellbeing record (EHR) frameworks, Verata's AI innovation naturally starts prior approvals, recovers payer rules, and recognizes and submit clinical documentation from the EHR. At the point when payers influence its AI stage, Verata empowers purpose of-care approvals for suppliers and patients, drastically quickening admittance to mind.
Olive and Verata's joined prior approval arrangement smoothes out the cycle for suppliers, patients and payers by diminishing benefits by throughout 40% and cutting turnaround time for prior approvals by up to 80%.
By coordinating Verata's answer, Olive can furnish clients with a genuine start to finish prior approval arrangement. The arrangement begins with deciding whether an approval is required, incorporates touchless accommodation of the prior approval demand, closes with robotizing denied guarantee requests and awards medical clinics a 360 degree perspective on their approval execution. This implies patients get the consideration they need quicker, yet in addition takes out befuddling charges patients get post-administration expressing their case has been denied by their protection.
"Caring for patients at Mayo Clinic was life-changing," said Dr. Jeremy Friese, CEO of Verata and former Mayo physician executive. "We started Verata to have an impact on patients and providers across the country. Combining our AI solution with Olive's creates the leading platform to solve prior authorization on 'both ends of the fax machine' at providers and payers to drive impact for millions of patients."
More than 60 Verata employees will join the Olive team following the acquisition, bringing Olive's total employee count to approximately 500. Olive's senior executive team will continue to grow as well:
Lori Jones, Chief Revenue Officer, will retain her title and will also take on the role of President, Provider Market
Dr. Jeremy Friese, Chief Executive Officer at Verata, will join Olive as President, Payer Market
Dr. YiDing Yu, Chief Medical Officer at Verata, will become Olive's Chief Medical Officer
"A broken healthcare system is one of the biggest challenges humanity faces today and prior authorization issues in particular are costing our nation billions of dollars. After partnering with Verata earlier this year, we saw incredible potential for Verata's technology to reduce the amount of time and money spent on prior authorizations, and to eliminate delays in patient care," said Sean Lane, CEO of Olive. "This acquisition allows Olive to accelerate innovation in areas where we can drive the biggest impact, and further expands our solutions to providers and payers seeking to transform healthcare."
The procurement follows Olive's ongoing $225.5 million financing round to reinforce the organization's R&D stash and drive the development of Olive's AI labor force for suppliers and payers. As of late, Olive additionally reported Olive Helps: another AI stage that conveys focused on data to healthcare laborers to empower better, quicker outcomes while lessening the time spent on managerial errands. With Olive's ongoing energy, Verata's set-up of AI devices will extend Olive's effect as it mechanizes the $31 billion issue of prior approvals in healthcare.
Olive's AI workforce is built to fix our broken healthcare system by addressing healthcare's most burdensome issues -- delivering hospitals and health systems and payers increased revenue, reduced costs, and increased capacity. People feel lost in the system today and healthcare employees are essentially working in the dark due to outdated technology that creates a lack of shared knowledge and siloed data. Olive is designed to drive connections, shining a new light on the broken healthcare processes that stand between providers delivering patient care and payers. She uses AI to reveal life-changing insights that make healthcare more efficient, affordable and effective. Olive's vision is to unleash a trillion dollars of hidden potential within healthcare by connecting its disconnected systems. Olive is improving healthcare operations today, so everyone can benefit from a healthier industry tomorrow.
About Verata Health
Verata Health empowers hospitals, health systems and payers to take control of one of the biggest and most challenging problems in healthcare — prior authorization. A physician-led company trusted by customers across the country, Verata's artificial intelligence platform is obsoleting the fax machine with Frictionless Prior Authorization®. Supporting both simple and clinically complex prior authorizations, Verata Health helps both providers and payers increase revenue, reduce administrative burden and accelerate patient access. Verata Health's investors include BlueCross BlueShield Venture Partners, LRVHealth, CapitalFour, 3M and Bessemer Venture Partners. TripleTree, LLC served as the exclusive financial advisor to Verata Health for this transaction.
Firstsource | March 16, 2021
Firstsource Solutions Limited and IntelliH today announced that IntelliH is the partner of Firstsource. Firstsource has selected IntelliH as the technology partner for delivering turn-key remote patient monitoring solutions to provider organizations in the U.S health plans. Areas of critical needs such as post-acute care and diabetic patients and proactively managing Congestive Heart Failure (CHF) will focus more on the combined offering initially.
Firstsource has helped various healthcare organizations to reduce costs and in delivering an unmatched patient experience. The IntelliH is one of the most innovative remote healthcare care solutions for providing excellent care to patients when it is needed. The combined offerings of Firstsource and IntelliH are aimed at bridging the technology gap between patients and providers. It will support seamless workflow and enhance the care provided to the patients.
U.S.based healthcare operations, Firstsource Solutions provides technology and services to the entire healthcare ecosystem such as health systems, health plans, and provider groups. The company's services include technical support and workflow automation for data management, claims administration, premium billing, quality assurance, digital mailroom, and credentialing. For provider groups and health systems, the company's solutions include a range of payment collections, integrity, and eligibility services.
The IntelliH platform enables secure access for patients, care teams, and caregivers. The company's patient tools are designed to take care of various diseases such as CHF and diabetes. The solution is also helpful for a wide range of other conditions, monitoring relevant device sensors and protocols.
Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology and other industries. The Company’s ‘Digital First, Digital Now’ approach helps organizations reinvent operations and reimagine business models, enabling them to deliver moments that matter and build competitive advantage. With an established presence in the US, the UK, India and the Philippines, Firstsource acts as a trusted growth partner for over 100 leading global brands, including several Fortune 500 and FTSE 100 companies.
IntelliH is an Enterprise level multi-disease, patient engagement and digital health monitoring platform for chronic disease patients. The IntelliH platform allows providers to monitor high risk patients utilizing leading edge software solutions for office visits and post discharge. IntelliH platform reduces the cost of care associated with hospital stays, ER visits or clinician visits. IntelliH solution works across the care continuum, empowering care teams while enriching the patient experience.
i2i Population Health | February 17, 2022
i2i Population Health has made a great stride in providing on-going, unparalleled support for its customers by entering into a partnership agreement with HealthTalk A.I., a leading patient engagement company.
i2i's powerful population health solution in collaboration with HealthTalk A.I.'s best-in-class patient engagement solution will support FQHC's efforts to serve under-served populations and drive quality care. This alliance will equip care teams with the best tools on the market to find and engage the patients who might otherwise slip through the cracks. FQHCs will be able to use i2i and HealthTalk A.I.'s toolsto identify high-risk patients, efficiently connect with them, and in turn, close care gaps and improve care quality.
This partnership equips FQHCs likePennsylvania-based Neighborhood Health Centers of theLehigh Valley(NHCLV) with the ability to send targeted campaigns directly from the i2i platform.
"With HealthTalk A.I. and i2i now working together, our care teams will be set up to achieve much greater efficiency," saidMelissa Miranda, RN, CEO at NHCLV. "Not only does this support our population health initiatives, but itgives our care teams more options for engaging with all patients while at the same time delivering quality clinical care and building trust with the at-risk patients we serve."
"We are excited about this partnership with HealthTalk A.I., a company whose values and solutions align seamlessly with our mission to serve others for healthier communities."
i2i Population Health CEO,Justin Neece
About HealthTalk A.I.
HealthTalk A.I. helps healthcare providers improve access to care and intervene like never before possible. Their fully-automated, text-based platform delivers user-friendly communication with specificmessages and rules dictated by each healthcare organization. This gives providers the ability to engage 100% of theirpopulation and close the loop with customer recovery actions and clinical encounters.
About i2i Population Health
i2i is the nation's largest population health technology company serving the underserved, safety net market with 20 years of experience spanning 37 states and 30 million lives. The i2i platform powers an advanced data integration and aggregation engine that publishes normalized clinical and administrative data through unique quality management and care coordination applications. Driving improved outcomes in quality program performance is a core competency of i2i.