Availity to Acquire Utilization Management Solution and Business Unit from Olive

Availity, one of the nation’s largest real-time health information networks, announced a definitive agreement to acquire the utilization management solution and business unit from healthcare automation company Olive AI, Inc. This transaction also includes assuming the commercial contract with Olive’s current utilization management customers and hiring key associates dedicated to the utilization management business. The acquisition strengthens Availity’s existing strategy to deliver an automated solution for end-to-end authorization transactions, which today remains driven largely by expensive, resource-intensive manual processes. “We saw a clear opportunity to acquire an automated, digital solution to one of the costliest and most manually driven workflows in healthcare—authorizations,” said Russ Thomas, CEO at Availity. “This technology perfectly aligns with Availity’s vision of delivering omni-channel, multi-payer solutions to a fragmented healthcare data ecosystem. This game-changing solution will help our provider and health plan customers overcome the common barriers to ensuring timely care delivery, resource allocation, and patient satisfaction.” Authorizations were created to optimize care paths and manage costs. However, Availity’s market research indicates that payers and providers collectively spend up to $13 billion every year managing an administrative process widely blamed for care delays, patient dissatisfaction, staff burnout, and friction b...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT AI AI Auth Artificial Intelligence Authorization Availity Availity’s AI Auth Solution Health IT Acquisitions Healthcare M&A HIMSS23 Natural Language Processing NLP Olive Olive AI Inc. Russ Th Source Type: blogs