IKS Well being, a technology-backed care allow platform that provides administrative, medical and operational assist, introduced it acquired tech-enabled medical coding, medical documentation and income assist firm AQuity Options for $200 million.
IKS’ platform consists of expertise and companies for medical assist, income optimization, digital well being and value-based care.
The corporate stated the acquisition will enable it to scale its AI options with steering from Strengthened Studying By way of Human Suggestions (RLHF) due to AQuity’s datasets.
The mixed firm will function beneath the title IKS Well being. It can have an annual income of greater than $330 million and a world workforce of greater than 14,000 staff, together with 1,500 clinicians and 350 medical coders, expertise specialists, medical documentation specialists and income integrity specialists.
“We’re excited to affix forces with a like-minded business chief in IKS,” Kashyap Joshi, CEO of AQuity, stated in a press release. “Our award-winning options have been acknowledged by KLAS and Black E book as market main, highlighting our skill to drive superior outcomes for our shoppers. By combining our capabilities, we’ll speed up our dedication to delivering significant, pragmatic, and confirmed options for your entire continuum of care, in order that sufferers have a greater expertise and practices, teams, and hospitals can thrive.”
THE LARGER TREND
Earlier this yr, IKS announced a partnership with AI-enabled medical documentation startup Abridge to construct and deploy AI expertise to cut back administrative burden amongst healthcare professionals.
The corporate additionally announced it was making a strategic funding in Milwaukee-based healthcare funds and income cycle administration startup Sift Healthcare to hurry up its transfer into reactive income cycle administration.
Different firms providing AI-enabled administrative help options embody Seattle-based Outbound AI, an organization providing AI-powered digital brokers that carry out administrative duties, and Element5, which gives software program for post-acute care amenities to assist automate administrative duties.
