iVantage Health Analytics® Acquires Professional Data Services iVantage to Offer ACO and Bundled Payment Analytics Supporting Hospital Sustainability
PORTLAND, Maine and LOS ANGELES, Oct. 14, 2013 /PRNewswire/ -- iVantage Health Analytics, Inc., a leading provider of health analytic solutions under the new healthcare, today announced the acquisition of Professional Data Services ("PDS"), a solution offering managed care analytics and internal and external payment benchmarking to support payor negotiations and strategic planning. The terms and conditions of the purchases were not disclosed.
The addition of PDS represents the continued expansion of the iVantage Health Analytics solution suite and enables the company's hospital clients to make more informed business decisions, as they face an increasingly regulated healthcare marketplace.
PDS provides a Software-as-a-Service (SaaS) based analytic tool developed for hospitals at the Hospital Association of Southern California (HASC). The PDS product provides hospital revenue optimization and benchmarking using proprietary paid claims data, avoiding anti-trust conflicts. PDS's hospital clients benefit from market analytics that empower contract negotiation and optimized revenue management.
"The key to constant improvement is reliable and timely measurement against benchmarks," said Jim Barber, CEO of HASC. "Health plan contract performance, properly benchmarked with relevant peer groupings, provides PDS clients with invaluable financial information they can't get elsewhere. This transaction with iVantage expands our existing business intelligence programs for our membership. As one of the largest hospital associations in the US, our membership demands top-notch solutions, and iVantage is our partner for PDS and our LodeStone offerings. We are so impressed with the organization's capabilities that, as part of this transaction, we are now a shareholder of iVantage."
PDS is currently offered to hospitals in Arkansas, Oklahoma, Washington and Oregon through partnerships similar to iVantage's relationship with HASC, and is also available to iVantage's more than 1,000 customers and partners.
About iVantage Health Analytics
iVantage is a leading provider of health care informatics and business analytics solutions that transform complex data into actionable business intelligence. This platform is used by hospital management teams to drive empirical and evidence based decision making. These tools are positioned at the center of a large market opportunity due to increased demand for meaningful data, driven by new compliance based requirements and operational challenges of the Patient Protection and Affordable Care Act ("PPACA"). iVantage has been growing at approximately 50% per year.
About Hospital Association of Southern California (HASC)
HASC is a not-for-profit regional trade association comprised of hospitals and health systems, related professional associations and associate members with a common interest in improving the operating environment for hospitals and improving the health status of the communities they serve. HASC represents 160 hospitals which operate a total of 41,000 beds in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara and Ventura counties. Its mission is to serve the political, economic, informational and educational needs of associated hospitals, improve the quality and accessibility of health care services and thereby improve the health status of communities.
For additional information about iVantage Health Analytics, please call Amy Weickert at 207-245-6769 or email Amy at aweickert@iVantageHealth.com.
For additional information about HASC, please call Jennifer Bayer at 213-538-0730 or email Jennifer at firstname.lastname@example.org.
SOURCE iVantage Health Analytics, Inc.