What You Should Know:
– Centene Corporation acquires AI healthcare analytics platform Apixio to additional data and AI capability to technology portfolio.
– Apixio will remain an operationally independent entity as part of Centene’s Health Care Enterprises group to continue bringing value to its clients and the industry.
Centene Corporation, today announced it has signed a definitive agreement to acquire Apixio Inc., an AI healthcare analytics company offering Artificial Intelligence (AI) technology solutions. The transaction is subject to regulatory approvals and is expected to close by the end of 2020.
Better Data. Better Healthcare
More than 1.2 billion clinical documents are generated each year in the U.S., but there is very little analysis of that unstructured information. Founded in 2009. Apixio helps organizations use their data for knowledge about patient health. This ultimately translates into more effective care delivery, lower costs and streamlined processes. Apixio’s machine learning and deep learning algorithms analyze unstructured data embedded in electronic health records, scanned notes, facsimiles, and handwritten notes to produce high-quality predictions for measurement, care, and discovery.
The Apixio Platform
The Apixio Platform can mine textual data and combine its generated insights with available structured data to craft computable individual health profiles or phenotypes. We analyze our assembled phenotypes in real-time using a flexible rules engine. This automates the execution of clinical guidelines, quality and risk measures, payment or reimbursement policies, and other operational and administrative rules, to support critical healthcare activities.
Acquisition Complements Centene’s Existing Data Analytics Products
“Centene is committed to accelerating innovation, modernization and digitization across the enterprise and solidify its position as a technology company focused on healthcare. Apixio’s capabilities are closely aligned with our plans to digitize the administration of healthcare and to leverage comprehensive data to help improve the lives of our members,” said Michael F. Neidorff, Chairman, President and Chief Executive Officer for Centene. “Apixio’s technology will complement existing data analytics products including Interpreta, creating a differentiated platform to broaden support for value-based healthcare payment and delivery with actionable intelligence.”
As part of the acquisition, Apixio will remain an operationally independent entity as part of Centene’s Health Care Enterprises group to continue bringing value to its clients and the industry, while also realizing the benefits of enhanced scale with Centene. Financial details of the acquisition were not disclosed.
