Sharecare, a digital patient engagement company, announced on Monday that it is purchasing WhiteHatAI, which focuses on using artificial intelligence to address healthcare payments, for an undisclosed amount.
Sharecare is focused on reviewing claims data in order to detect any false claims, waste, abuse or fraud in the system. This comes as Sharecare has boosted its medical records and medical data part of its business.
“By acquiring WhiteHatAI and integrating their suite of AI-driven capabilities across our portfolio, we are bringing industry leading innovation to our payer and provider client partners that will help them not simply detect FWA but do so before it occurs, thus increasing efficiency and accuracy throughout healthcare organizations,” Jeff Arnold, founder, chairman and CEO of Sharecare, said in a statement.
WHY IT MATTERS
As part of the deal, WhiteHatAI’s tech will be integrated into Sharecare. This means that its payer and provider partners will have access to the tech designed to identify fraud, waste and abuse.
Providers will also be able to use the new tech in order to extract unstructured clinical data from medical charters, according to Sharecare. On the patient side, after a visit users can use the app to verify certain procedures as well as answer questions about their satisfaction and experience.
THE LARGER TREND
Over the years Sharecare has acquired a number of companies. This is the company's third acquisition in 2020 alone.
In June it scooped up tech-enabled behavioral health platform MindSciences for an undisclosed sum. As part of that acquisition, MindSciences programs were made available to Sharecare’s enterprise partners and consumers. The offerings included three programs: Craving to Quit, a smoking cessation-based program; Eat Right Now, a program focused on binge eating and weight loss; and Unwinding Anxiety, developed to help stress and anxiety.
In February it acquired 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.