SCIO Health Analytics has acquired Westlake Village, Calif.-based Clear Vision Information Systems, a vendor that specializes in risk adjustment and quality metric analytics for health plans and providers. The financial terms of the deal were not disclosed.
Markets served by Clear Vision include government and commercial health plans/payers, providers and medical groups, and accountable care organizations (ACOs) and will add to SCIO Health Analytics’ offerings in the growing analytics market.
"Healthcare organizations are facing a myriad of challenges with unprecedented change, much of it the result of the industry's move away from fee-for-service reimbursement and toward value-based care models," Siva Namasivayam, chief executive officer of SCIO Health Analytics, said in a statement. "By combining Clear Vision's robust risk adjustment and quality metric analytics, as well as its outreach services, with SCIO's predictive and prescriptive analytics solutions and services focused on reimbursement and care optimization, we can help our clients manage this transition more effectively while maximizing care quality, network performance and revenue."
The U.S. Department of Health and Human Services has set a goal of tying 30 percent of payments to value-based mechanisms such as Accountable Care Organizations (ACOs) by the end of 2016, and 50 percent by the end of 2018.
According to a press release from West Hartford, Conn.-based SCIO Health Analytics, the acquisition of Clear Vision provides the company with “innovation to drive new business growth that addresses this pressing market need while extending its current analytics solution and services.”
SCIO Health Analytics’ will be leveraging Clear Vision’s expertise in understanding the unique challenges faced by Medicare Advantage plans and providers. Clear Vision Information Systems offers data analytics and services in the form of Software as a Service (SaaS) around risk adjustment analytics, quality measure reporting for HEDIS and Stars for Medicare Advantage, Medicaid, Commercial and Exchange, inpatient data pursuit services for Medicare, Advantage, Medicaid and Exchange, physician office prospective care gap closure ad data correction software.
"SCIO's approach to analytics is focused on helping healthcare organizations take actions that will make a difference in their quality of care as well as their bottom lines," Tom Peterson, founder, president and chief executive officer of Clear Vision, said. "The two sets of technologies dovetail nicely to deliver a well-rounded picture of the changes organizations need to make to achieve their goals."