Change Healthcare has acquired PROMETHEUS Analytics, a reimbursement platform from Altarum designed to optimize provider networks under value-based care models.
Used by payer-provider collaborations across the U.S., PROMETHEUS Analytics is a leading reimbursement approach based on medical episodes of care, providing a blueprint for value-based payments. It includes more than 90 episodes of care definitions, outlining the entire range of treatment that includes all covered services across providers that would typically treat a patient for a single procedure, illness or condition.
“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, in a statement. “We’re excited about expanding the collaboration around PROMETHEUS Analytics industry-wide to accelerate value-based care in commercial, Medicare and Medicaid markets.”
The announcement comes about a week after Change Healthcare announced its acquisition of Nucleus.io
, a developer of advanced, cloud-native imaging and workflow technology. The addition of Nucleus.io gives the company access to a medical image exchange that is expected to speed up Change Healthcare’s timeline for implementing a complete cloud-based, end-to-end Enterprise Imaging solution.
Change Healthcare 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. The solution 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.
The transaction aligns with Change Healthcare’s commitment to core aspects of the business, for fueling long-term growth, advancing innovation and accelerating the industry’s transition to value-based care.