What You Should Know:
– Datavant, a data collaboration platform for healthcare, has successfully completed its acquisition of Ontellus, a provider of health records retrieval and claims intelligence. Financial details of the acquisition were not disclosed.
– The acquisition is set to transform how clinical and billing data is exchanged between healthcare providers and other professional sectors.
New Vertical for Legal & Insurance
With the acquisition, Datavant will establish a new business vertical named Legal & Insurance. This division will be dedicated to simplifying the secure and compliant exchange of health data for legal and insurance professionals. Vince Cole, the former CEO of Ontellus, will lead this new business unit. He will report directly to Datavant’s CEO, Kyle Armbrester.
From Manual Burden to Digital Efficiency
The primary goal of the acquisition is to digitize and streamline what has traditionally been a manual and time-consuming process. Both companies have been working to move health data from where it sits to where it is needed by authorized users. Ontellus has focused on this for record requestors, while Datavant has built a broad platform for data collaboration across the healthcare ecosystem.
“Every hour we can save from the task of exchanging health records is an hour that can be used for patient care,” said Kyle Armbrester. “By bringing together Datavant and Ontellus, we will transform what has been a largely manual, time-consuming process for both making and fulfilling health record requests to a more efficient, digital process that allows providers and requesters to spend more time on higher-value activities.”
