Health software company based in Bellevue, Washington Edifice Won Telix, A San Francisco-based startup that mines language in health data to optimize the billing, analysis, and management of patient data, with a focus on value-based care.Edifice Announce transaction on Monday. The terms were not disclosed.
Value-based care is an increasingly popular medical care model that no longer emphasizes pay-for-service, but focuses more on prevention and primary care methods. This is also an area of increasing concern for Edifecs, which sells enterprise software to more than 350 healthcare companies, including BlueCross BlueShield, Cigna, Humana, GroupHealth, etc.
Talix uses natural language processing (a calculation method for checking the language of data) to mine healthcare data. This startup was founded in 2015 to provide a platform for health plans to support the identification of medical codes for billing, data analysis, and patient care management.
Talix’s platform can also assess the patient’s risk in various situations. This process is called risk adjustment, which facilitates the billing of a value-based case system.
“The merger of these companies enables Edifecs to provide a more complete risk adjustment solution from insight and intervention to submission,” said Sonny Singer, The founder and chairman of the board of Edifecs, in A statement“In turn, this will advance care plans based on industry key values by directly supporting providers to increase their acceptance of financial risks.”
Singh originally founded Edifecs in a garage as a start-up company that provides technical solutions to integration problems. In 2001, Edifecs entered the healthcare industry because as the healthcare industry transitioned from paper data to software, it saw an opportunity to help customers with transactions and information processing. Singh remained the CEO of Edifecs until July, when he handed over the management of the company with more than 750 employees Venkat Kavatapu.
Edifecs’ services can achieve cross-system data interoperability, unify clinical and financial information, etc.The company in the early stage of the epidemic Launched aa COVID-19 dashboard Help payers analyze COVID-19 test claim data. Last year, it received a cash injection of private equity in a $1.4 billion transaction.
Talix was founded in 2015 by CEO Dean Stephens to apply natural language processing and machine learning to applications related to value-based care.
“Our comprehensive capabilities will provide health plans and providers with stronger and more complete solutions to reduce manual and labor-intensive chart retrieval through an advanced EHR integrated coding platform,” Stephens said in a statement, referring to Is an electronic medical record.