MedAssets-Precyse has acquired clinical healthcare analytics and consulting firm Equation, and their new brand will be unveiled at the upcoming Healthcare Financial Management Association conference in Las Vegas later this month.
Its new platform will "remove guesswork" for providers, the company said. Its cloud-based business intelligence platform, DataRiver, gleans insights from healthcare data, integrating and organizing clinical and financial information from disparate systems into a single, broad-scope stream. It also uses Equation's algorithms to help guide the value-based initiatives of healthcare organizations.
The offering merges MedAssets-Precyse's revenue cycle and health information management -- and now, Equation's data analytics capabilities -- into a single patient-to-payment tool. The goal is to provide healthcare organizations with the advanced analytics necessary to achieve better patient outcomes at reduced cost.
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Pamplona Capital Management and MedAssets officially merged in January in a $2.7 billion deal. Pamplona bought Precyse in July 2015; prior to the deal, MedAssets had 2,700 hospital clients for its revenue cycle products, managing more than $450 billion in patient revenue annually. Before the deal was finalized, the combined entity named J. Joel Hackney as its CEO, who previously served as the president and CEO of AVINTIV, which he joined in 2013. Hackney has also held executive leadership positions with General Electric, Nortel Networks Corporation and Avaya.
Trevor Kobe, Equation President and CEO, said in a statement that its acquisition by MedAssets-Precyse makes the company "ideally positioned to expand our clinical and financial analytics-based solutions to further advance clinical quality, service, and affordability for healthcare organizations big and small."