Change Healthcare acquires industry standard for episode of care definitions used for value-based care plans
NASHVILLE, Tenn.--(BUSINESS WIRE)--Aug. 26, 2020--
Change Healthcare (Nasdaq: CHNG) today announced it has acquired PROMETHEUS Analytics® from Altarum. PROMETHEUS Analytics is a leading reimbursement approach based on medical episodes of care, used by payer-provider collaborations nationwide, uniquely providing a fair and realistic blueprint for value-based payments. It includes more than 90 episode of care definitions outlining the entire range of treatment that include all covered services across providers that would typically treat a patient for a single procedure, illness or condition.
This transaction supports Change Healthcare’s commitment to focus on and invest in core aspects of the business to fuel long-term growth, advance innovation and accelerate the industry’s transition to value-based care.
Change Healthcare has a successful history of working with PROMETHEUS Analytics and was one of the first certified partners of the PROMETHEUS Analytics model supporting some of the nation’s largest health plans with their value-based payment programs.
Healthcare organizations use PROMETHEUS Analytics to optimize their provider networks under value-based care reimbursement models. They create unique analytic insights that help improve provider performance and provide consumers more value from their health care experience. PROMETHEUS Analytics is integrated into Change Healthcare’s HealthQX® value-based care platform that enables health plans to optimize payment models, evaluate provider performance, identify care variations, and improve network efficiency.
“By owning and continuing to develop the industry standard, PROMETHEUS Analytics, Change Healthcare will support all PROMETHEUS users across the industry as they explore innovative ways to reduce cost, increase quality and improve outcomes,” said Robert Capobianco, vice president and general manager, Value-Based Payments at Change Healthcare. “We’re excited about expanding the collaboration around PROMETHEUS Analytics industry-wide to accelerate value-based care in commercial, Medicare and Medicaid markets.”
About Change Healthcare
Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company, focused on insights, innovation, and accelerating the transformation of the U.S. healthcare system through the power of the Change Healthcare Platform. We provide data and analytics-driven solutions to improve clinical, financial, administrative, and patient engagement outcomes in the U.S. healthcare system.