Milliman Corp., a Seattle-based actuarial firm, has reached an agreement to sell care its Care Guidelines subsidiary to Hearst Corp. in New York, adding to Hearst’s healthcare portfolio that includes Zynx Health and First Databank. Care Guidelines is focused on both the provider and payer markets, including solutions for care coordination, quality guidelines, RAC audits, workflow planning, and authorization of treatment requests.
The sale is being handled by the investment bank Harris Williams. Sam Handler, a director of the bank TMT Group that leads the bank’s HCIT practice, says the vendor is well positions for the transition from fee-for-service to fee-for-value taking place in healthcare, offering payers evidence-based guidance on reimbursements and, for providers, tools to align best practices and guidance of what is behind reimbursement decisions. The deal is expected to close by the end of the fourth quarter.
Grand Prairie, Texas-based Rainbow Children's Clinic was the victim of a ransomware attack on its IT systems in August, affecting more than 33,000 patients, according to multiple news media reports this week.