EviCore Healthcare, a provider of medical benefits management solutions based in Bluffton, South Carolina, acquired Boston-based QPID Health. Financial terms were not disclosed. QPID, which spun out of Partners HealthCare in late 2012, develops analytical software for medical providers. QPID has raised money from New Leaf Venture Partners, Cardinal Partners and others, according to an earlier news release.
eviCore healthcare, a company committed to enabling better outcomes for patients, payers and providers through advanced medical benefits management, today announced that it has acquired Boston-based QPID Health.
QPID Health, a Partners HealthCare spin-out in late 2012, has a history of innovative partnerships with leading health systems, helping providers achieve their care quality and cost reduction goals with sophisticated analytical software that generates actionable information and clinical insights from patient records.
“We have dedicated our company to making a lasting, positive impact on all healthcare stakeholders through more informed decision-making and improved outcomes,” explained John J. Arlotta, Chairman and Chief Executive Officer of eviCore healthcare. “Healthcare is being radically transformed and the traditional barriers between payers and care delivery systems are coming down. By integrating the QPID Health team and technology, we accelerate our ability to support the provision of healthcare in a value-based world.”
QPID Health’s technology is a powerful combination of natural language processing (NLP), clinical logic, and machine learning that generates patient facts from information found anywhere and in any format in longitudinal health records — including structured data fields and unstructured narrative notes. This overcomes a significant challenge to understanding a patient’s history and status, since up to 80% of information might be found outside of discrete data fields.
Michael J. Doyle, QPID Health President and CEO, stated: “Our shared vision, culture and goals made eviCore an excellent fit for QPID Health’s next phase of growth. The combined entity leverages eviCore’s decades of experience in developing clinical care pathways based on the best available evidence, with our deep roots supporting hospitals, clinicians and administrators focused on quality improvement. With the new eviCore, best practices can be used to ensure that medical care is properly utilized, avoiding harm and ensuring the best patient outcomes. The combined entity is committed to partnering with all risk-bearing entities to allow them to flourish in an increasing quality and value based environment.
QPID Health will continue to maintain its offices in Boston, MA and Carlsbad, CA and will retain its name. Terms of the deal were not announced.
eviCore healthcare (eviCore) offers proven, diversified medical benefit management solutions that help clients reduce costs while increasing quality of care for their members. The company provides these solutions to managed care organizations and risk-bearing provider organizations serving commercial, Medicare, and Medicaid populations. Powered by a team of specialized medical professional resources, extensive evidence-based guidelines, and advanced technologies, eviCore supports clients by ensuring the right evidence-based care is delivered at the right time to the right patient at the right site of care. Flexible medical benefit management solutions are offered in: Radiology; Cardiology; Musculoskeletal; Medical Oncology; Radiation Therapy; Specialty Drug Management; Sleep; Lab Management; and Post-Acute Care (including participating in the CMS Bundled Payments for Care Improvement initiative). eviCore is proud to help 100 million Americans receive higher quality, lower cost healthcare.
For more information about eviCore health, please visit evicore.com.
About QPID Health:
QPID Health’s clinical reasoning platform and quality solutions have been adopted by leading integrated health systems including Partners HealthCare, Providence Health & Services, Sutter Health, and Sharp HealthCare. Developed over 10 years in demanding clinical settings, QPID solutions are clinically proven and scalable.
For more information about QPID Health, please visit www.qpidhealth.com