by JESSICA DAMASSA
“There’s $4-$4.5 trillion {dollars} of annual spend within the healthcare system. A trillion of that’s administrative. And, some huge chunk — some BIG quantity that you just measure within the 100’s of billions of {dollars} – is waste. So, the TAM for what Availity and Diameter Well being are going to do collectively is big.” Russ Thomas, Availity’s CEO, is clearly enthusiastic about his firm’s current acquisition of Diameter Well being and we ask him – and Diameter’s President & COO Mary Lantin – why that is such an enormous deal.
In the long run, what this comes all the way down to is making extra sense of all the info that flows between suppliers and payers to automate the place potential, discover insights to enhance enterprise processes and workflows, and, finally, lower out that infamous “admin expense” that provides to healthcare price with out creating any worth.
For twenty years, Availity’s been within the enterprise of “translating” information from suppliers right into a language well being plans can perceive, so payors may refine their very own enterprise processes and automate pre-auths, pay claims, and many others. Diameter, then again, offers on the planet of medical information and “upcycles” it into ideas and “digestible bites” {that a} well being plan can use to automate an administrative workflow course of with a supplier and – get this – construct a longitudinal well being document that now Availity’s sturdy provide of claims and well being plan information can totally flesh out.
How excited are Russ and Mary concerning the thought of this complete, longitudinal, fully-integrated clinical-plus-claims affected person document? Far more excited than even I anticipated! Tune in for all the main points on the merger and this BIG imaginative and prescient for scaling up the combat in opposition to healthcare’s huge spend on administrative waste.
