13 Apr, 2015, 09:24 ET
PLANO, Texas and LEXINGTON, Ky., April 13, 2015 /PRNewswire/ -- RemitDATA Inc., a pioneer of comparative data analytics technology that brings 360-degree data transparency to the healthcare industry, today announced it has entered into an agreement to acquire IF Technologies, a company that offers episode of care pricing analytics and transparency to insurers and cost containment companies with its software as a service (SaaS) solutions. RemitDATA's acquisition of the Lexington, KY-based company is a major milestone in its quest to empower payers, providers and other healthcare entities to gain transparency, enhance communications, drive collaboration and improve business operations.
"IF Technologies has made significant contributions to the healthcare market through the use of comparative data analytics," said Dave Ellett, CEO of RemitDATA. "IF Technologies and RemitDATA share a strong mission to enhance the transparency of data between healthcare entities, making it easier to operate and conduct business."
"Our goal is to continually enhance our value proposition of 360-degree transparency," said Michael Sanderson, president and co-founder of RemitDATA. "Acquiring IF Technologies is a huge testament to that goal."
Along with RemitDATA's recent 15-year anniversary and its hiring of Brad Hill as vice president, Payer Solutions, the acquisition of IF Technologies is another step as RemitDATA focuses on expanding its capabilities to better serve the needs of the payer market. RemitDATA's pioneering technology is now relied upon across the entire healthcare industry – payers, providers, healthcare systems and RCM services.
"Payers are faced with incredible disparities in pricing and need the technological tools to control costs," said Patrick Kennedy, Partner, PJ Consulting, Inc. "Data transparency is essential in this industry for everyone, including the patient. With the focused services of companies like RemitDATA, we can help to impact the healthcare deficit and improve outcomes."
Now added to the RemitDATA portfolio will be IF Technologies' full breadth of services and solutions, including HealtheReports, a comparative data solution that delivers pricing, by provider, to empower insurers and their members to find the best healthcare value; and Episode of Care Analytics, a solution that provides insight to drive significant savings and empowers insurers to lower their costs as well as costs for employers and their members.
Jim Freedman, CEO and co-founder of IF Technologies, stressed that the "cost of care within the healthcare industry is unsustainable and episode of care pricing analytics is key to reducing costs. We have always looked at RemitDATA as a strong innovator of comparative data technology for healthcare businesses."
Freedman added, "We are proud to join such an esteemed industry leader in offering many different comparative data analytics solutions. Our technology perfectly complements their existing portfolio, and together we will deliver the best possible options to healthcare entities."
Freedman will join the RemitDATA leadership team as senior vice president, Payer Solutions where he will guide strategy and business development. Additionally, Mike Issac, president of IF Technologies will also join the RemitDATA leadership team as senior vice president, Payer Operations where he will guide product strategy and development.
"This transition should be fairly seamless for customers, other than the obvious changes of packaging and marketing communications," said Ellett. "We're looking forward to delivering even more game changing solutions to the healthcare industry."
RemitDATA will be showcasing its comparative analytics suite at HIMSS15, Booth #4009.
For a full list of the RemitDATA solutions portfolio, visit www.RemitDATA.com.
For a full list of the IF Technologies solutions portfolio, visit www.ThinkIFT.com.
RemitDATA is a healthcare technology company that delivers healthcare's most comprehensive comparative data and analytics platform. Founded in 2000, the Memphis, Tennessee and Plano, Texas-based business strives to bring collaboration and 360-degree data transparency to all entities within the healthcare industry by delivering a range of system agnostic, comparative analytics solutions. Through the use of Application Program Interfaces (APIs), benchmarking and peer comparison tools, payers, providers and other healthcare companies will gain actionable insights to better understand their business and improve operations so they can focus on what really matters, to them. For more information, visit www.RemitDATA.com.
About IF Technologies
IF Technologies provides healthcare pricing transparency information based on next generation analytics through their software as a service (SaaS) solutions available to insurers, preferred provider organizations, self-insured employer plans, and their members. The company, based in Lexington, KY, offers solutions, which empower all parties who pay for healthcare to engage in the process of reducing healthcare costs. For a demo, or to learn more, go to www.ThinkIFT.com.
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SOURCE RemitDATA Inc.; IF Technologies
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