Digital health engagement platform Sharecare announced this morning that it is acquiring Visualize Health, a population health and quality measurement platform that helps providers catch any gaps in patient care.
Visualize Health’s program is focused on the value-based care model. Its platform helps to identify any quality measure gaps and deficiencies in documentation. When the program catches one of these gaps it will give the provider the action needed to address this. Currently the program can integrate with “all major” EHRs, according to the company.
WHY IT MATTERS
Sharecare said that the acquisition will allow it to roll out new tools including medical record management and billing contract compliance, in turn growing its revenue streams.
“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 increases provider workload, particularly when they lack the technology to gain visibility in each patient’s full care plan,” Jeff Arnold, co-founder, chairman and CEO of Sharecare, said in a statement. “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.”
THE LARGER TREND
Cofounded by TV personality Dr. Mehmet Oz in 2010, Sharecare has a long history of buying fellow startups. In fact, the Visualize Health acquisition marks its fourteenth such deal. Its other purchases include virtual reality company BioLucid and Healthway’s population health business.
Over the last decade the company has been actively seeking deals as well. In 2019 the state of Georgia tapped Sharecare and Walmart in a new initiative to improve the health of the employees on its State Health Benefit Plan (SHBP).
Just last month Sharecare’s platform was opened to every person in Arizona regardless of their insurance carrier or status, thanks to a partnership between the company and Blue Cross Blue Shield of Arizona. State residents can download the platform to access a handful of personal health tracking tools, while those who are BCBSAZ members will be able to access additional services.