On August 8th, Availity revealed its intention to purchase Diameter Health, a company that creates technologies for the interoperability and quality of clinical data.
The aim of Availity, the national health information network, is to provide an interoperability platform for clinical and claims data by integrating Diameter Health’s Upcycling Analytics tools into its own clinical data gateway.
The transaction is anticipated to close in the third quarter of 2022; further details of the agreement were kept under wraps. The objective, according to Availity executives, is to assist its customers in managing value-based care arrangements by facilitating information sharing between providers, health insurance, and others, and standardising clinical data for a variety of digitally enabled use cases.
Health plans, providers, and partners will be able to collect and expedite clinical data acquisition through a wide network of providers, vendors, and partners by integrating Diameter’s API technology and Fusion engine with Availity’s Clinical Gateway capabilities.
Additionally, it would assist healthcare customers in rearranging and deduplicating various data sources while normalising data to industry-standard terminology. This will make it possible to create longitudinal health records and support bidirectional, intelligent workflows for use cases including automated prior authorization, care management, quality assessment, risk adjustment, and care gap closure. Availity’s vice president of product management, Mark Martin, described how the company employs machine learning and artificial intelligence to assist payers and providers in streamlining approvals, referrals, and claims administration at HIMSS22 in Orlando this past March.
Russ Thomas, CEO of Availity, said in a statement that the acquisition underscores Availity’s strategic plan to enable healthcare providers and proposals to profit from implementable, real-time, and precise data insights to reduce administrative inefficiencies, maximise potential revenue, and drive quality of care improvements for patients on one scalable platform.
He continued that Availity will develop the nation’s premier data collection and interoperability platform, powered by Diameter’s technology. The Diameter Health team’s skills and enthusiasm will be used to produce a clinical and claims data platform that offers real-time, cognitive, two-way data workflows and insights.
Although clinical data is incredibly valuable, Mary Lantin, president and COO of Diameter Health, continued that the ability to structurally and semantically normalise multisource, multiformat clinical data and then further enhance and implement it to drive action is still an emerging functionality in healthcare. They have the opportunity to fundamentally disrupt the healthcare business and create new ground in developing data intelligence by combining their complementary strengths and sitting at the junction among providers, health plans, and data partners.