IKS Well being, a care facilitation know-how platform that gives administrative, medical and operational help, introduced that it has acquired medical coding, medical documentation and income help know-how firm AQuity Options for $200 million.
IKS’s platform contains applied sciences and companies for medical help, income optimization, digital well being and value-based care. The corporate mentioned the acquisition would allow it to evolve its AI options with steering from human feedback-enhanced studying (HRL), utilizing AQuity’s datasets.
The mixed firm will function underneath the title IKS Well being. It is going to generate annual revenues of greater than $330 million and a world workforce of greater than 14,000 workers, together with 1,500 clinicians, 350 medical coders, know-how consultants, medical documentation specialists and income integrity.
“We’re excited to hitch forces with a like-minded IKS business chief,” mentioned Kashyap Joshi, CEO of AQuity, in a press release. “Our award-winning options have been acknowledged by KLAS and Black E book as market leaders, highlighting our means to drive superior outcomes for our shoppers. By combining our capabilities, we’ll speed up our dedication to offering significant, pragmatic and confirmed options throughout all the continuum of care, so sufferers have a greater expertise and practices, teams and hospitals can thrive.
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Earlier this 12 months, IKS announcement a partnership with an AI-based medical documentation startup Shorten construct and deploy AI know-how to scale back administrative burden on healthcare professionals.
The corporate additionally has announcement he was making a strategic funding in a Milwaukee-based startup specializing in healthcare funds and income cycle administration. Taking a more in-depth take a look at well being care to speed up its evolution in the direction of reactive income cycle administration.
Different corporations providing AI-based administrative help options embrace Outgoing AIan organization providing AI-powered digital brokers that carry out administrative duties, and Element5which gives software program to post-acute care services to assist them automate administrative duties.