ATLANTA and NASHVILLE, Tenn., Feb. 24, 2020 /PRNewswire/ -- Sharecare, the digital health company that helps people manage all their health in one place, today announced its acquisition of Visualize Health, a company that supports value-based healthcare and enables payers and providers to close gaps in patient care. By integrating streamlined, insights-based actions into the clinician's workflow to eliminate care gaps in individual patient journeys, Visualize Health's cloud-based technology complements Sharecare's comprehensive health and well-being platform, and ideally positions the digital health company to help payer and provider partners succeed in value-based environments.
"As reimbursement models shift to value-based care, provider groups are facing new and growing pressures to deliver the best possible quality while also adapting to various performance measures, and reporting and documentation standards – all of which greatly increase provider workload, particularly when they lack the technology to gain visibility into each patient's full care plan," said Jeff Arnold, founder, chairman and CEO of Sharecare. "By acquiring Visualize Health, we are poised to help our partners effect meaningful change across their populations by improving care coordination, quality measurement, and the relationship between clinicians and their patients."
Visualize Health integrates with all major electronic medical records and practice management systems to quickly identify incomplete quality measures, gaps in care and deficiencies in documentation. With that, Visualize Health also serves providers recommended actions for each patient, including prescribed care measures across a broad array of conditions such as asthma/COPD, depression, diabetes and general preventative care and screening.
"We are driven by our commitment to the quadruple aim and thus have spent the last five years at Visualize Health focused on not only improving the health of populations, reducing unsustainable healthcare spending and enhancing each individual's healthcare experience, but also empowering providers with the tools they need to provide quality care," said Dr. Kenneth Persaud, CEO of Visualize Health. "By joining Sharecare – from its scale to the breadth and depth of its end-to-end platform – we are poised to provide even more value to providers across the country, while exponentially expanding our reach and ability to innovate."
Through previous acquisitions, Sharecare has integrated a range of capabilities and introduced new services to support providers' workflows – including medical record management; quality, performance and risk-adjustment tools; and billing contract compliance – and demonstrated its ability to grow those revenue streams organically. With Visualize Health, Sharecare is focused on bringing new products to its growing customer base and innovation to its medical records management business.
As an established leader in consumer and patient engagement, Sharecare also will partner with physician practices using Visualize Health to offer the Sharecare app to patients so they can be empowered to better manage their own health day-to-day between office visits, in particular for those who may benefit from treatment plans or disease management programs. In parallel, Sharecare will use insights from Visualize Health to foster richer patient communication and deeper engagement within the Sharecare app.
Arnold added, "Just as the market is looking for innovative and nimble patient-centric care models that match resources to individual needs, being physician-accepted is a key factor in Sharecare's continued growth and success. By combining forces with Visualize Health, our vision of health systems becoming Sharecare-enabled – and, ultimately, physicians 'prescribing' Sharecare to their patients – is within closer reach than ever before."
Visualize Health will operate out of the Sharecare campus in Franklin, Tenn., which the company acquired with its purchase of Healthways in 2016. In addition to the Visualize Health business, Sharecare's Franklin office also serves as a regional hub for its Health Data Services and Population Health divisions. Financial terms of the deal were not disclosed.
Sharecare is the digital health company that helps people manage all their health in one place. The Sharecare platform provides each person – no matter where they are in their health journey – with a comprehensive and personalized health profile where they can dynamically and easily connect to the information, evidence-based programs and health professionals they need to live their healthiest, happiest and most productive lives. In addition to providing individual consumers with direct access to award-winning and innovative frictionless technologies, scientifically validated clinical protocols and best-in-class coaching tools, Sharecare also helps providers, employers and health plans effectively scale outcomes-based health and wellness solutions across their entire populations. To learn more, visit www.sharecare.com.