WEST HARTFORD, Conn., Jan. 27, 2016 /PRNewswire/ -- SCIO Health Analytics today announced it has acquired Clear Vision Information Systems of Westlake Village, California, creators of an analytics solution and services suite that provides risk adjustment and quality metric strategies for health plans and providers. Financial terms of the agreement, which will see Clear Vision become wholly owned by SCIO Health Analytics, were not disclosed.
"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," said Siva Namasivayam, Chief Executive Officer of SCIO Health Analytics. "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. The acquisition of Clear Vision provides SCIO Health Analytics with innovation to drive new business growth that addresses this pressing market need while extending its current analytics solution and services.
SCIO Health Analytics' stated mission is to drive positive change in healthcare by delivering actionable insights to solve complicated problems simply and efficiently. It is embodied by the statement, "Once we understand, change results." Clear Vision naturally fits into this mission by providing data transparency and actionable information to manage the risk of patient populations while optimizing reimbursement revenue. It does this by offering 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
- 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," said Tom Peterson, founder, president and chief executive officer of Clear Vision. "The two sets of technologies dovetail nicely to deliver a well-rounded picture of the changes organizations need to make to achieve their goals. We are delighted that the Clear Vision team will be able to continue to help healthcare organizations drive improvements as part of this dynamic, forward-thinking company."
Markets served by Clear Vision include government and commercial health plans/payers, providers and medical groups, and ACOs. The company was founded in 2006 by Tom Peterson and Pam Klugman and is particularly known for its expertise in understanding the unique challenges faced by Medicare Advantage plans and providers. Both Peterson and Klugman will be joining SCIO Health Analytics in executive roles.
"Clear Vision is highly respected for its innovative data analytics and ability to help both payers and providers manage risk and ensure quality more effectively," said Rose Higgins, President, North America of SCIO Health Analytics. "We are excited at the prospect of adding these capabilities to the SCIO Health Analytics portfolio. Together, the synergies between SCIO and Clear Vision are powerful, delivering comprehensive healthcare analytics and reimbursement optimization strategies to our collective clients that will help them compete more effectively and ultimately succeed in the new world of value-based care."
Effective immediately, Clear Vision solutions and services are now available through SCIO Health Analytics.
About Clear Vision Information Systems
Clear Vision Information Systems provides Medicare Advantage risk adjustment solutions and strategies to health plans and providers nationwide. Leveraging decades of experience at the forefront of Medicare policy, Clear Vision's portfolio of products and services – including risk adjustment analytics and easy-to-implement continuity-of-care strategies – help clients maximize their revenue while improving quality of care. For further information, visit www.cvinfosys.com.
About SCIO Health Analytics
Based in West Hartford, Connecticut, SCIO Health Analytics is a leading health analytics solution and services company. It serves more than 50 healthcare organizations including 15 of the top 25 insurers representing more than 87 million members, four of the top six PBMs, and clients in 30 countries for 8 of the top 15 global pharmaceutical companies. SCIO provides predictive analytic solutions and services that transform data into actionable insights, helping healthcare organizations create the understanding that drives change through care, network and reimbursement optimization as well as commercial effectiveness. www.sciohealthanalytics.com
SOURCE SCIO Health Analytics