The pairing comes on the heels of a $30 million fundraising round for the population health analytics firm.
Meditech, which owns more than 15% of the electronic health records (EHR) market in the United States, announced a partnership today with growing population health management company Arcadia Healthcare Solutions. The collaboration comes less than a week after Arcadia completed a major investment round.
The arrangement with Arcadia is meant to strengthen the Meditech’s ability to provide risk scores and close care gaps for client health systems.
According to an official release, Arcadia’s “extensive experience aggregating data” and “sophisticated approach to driving quality” will make it easier for Meditech clients to enter into risk-based contracts and advance their value-based care initiatives. The tech company’s data elements will be integrated in the EHR system and provide analytic insights on care costs, resource utilization, and outcomes.
"As healthcare systems take on risk-based contracts, they need visibility into care provided across complex networks," said Arcadia CEO Sean Carroll said in the statement. “By selecting Arcadia, MEDITECH will be able to provide its customers the ability to push actionable data in the EHR at the point of care, accelerating performance under risk."
The 2 companies say that the framework for the solution is still being built, and expect to announce more details in coming months.
For Arcadia Healthcare Solutions, this is its second big announcement in as many weeks. Last week, the 17-year-old company stated that it had closed a venture financing round worth $30 million, and featuring some big-name backers. GE Ventures and Merck Global Health Innovation Fund joined a growing list of companies that have invested in the firm. The 2 global giants joined existing investors Zaffre Investments, Morgan Stanley Alternative Investment Partners, and Peloton Equity (yes, that Peloton).
The $30 million will go towards helping the company continue to grow into what GE Ventures Managing Director Noah Lewis called “an industry leader to help payers and providers apply advanced analytics to their business models.”
“Our transformation from a proven consulting firm to a recognized, technology-led population health analytics company is complete…We see a bright future for our customers, investors, and team members,” Carroll said.
Meditech itself has tried to innovate lately: In November 2017, it a new, simplified cloud-based version of its platform. Meditech as a Service (MaaS) is being targeted at rural critical access hospitals in hopes of bridging the EHR adoption gap. The vendor’s CEO, Howard Messing, called the project “disruptive” and “an important step in driving EHR access.”
Another recent victory for Meditech may have been its ability to avoid the frenzy of litigation that plagued so many of its competitors in the previous year. The company remained relatively quite on the legal front while eClinicalWorks, Cerner, and Epic all found themselves in court multiple times.