IKS Health, a technology-backed care allow platform that provides administrative, scientific and operational help, introduced it acquired tech-enabled medical coding, scientific documentation and income help firm AQuity Solutions for $200 million. 

IKS’ platform consists of expertise and companies for scientific help, income optimization, digital well being and value-based care. 

The firm mentioned the acquisition will permit it to scale its AI options with steering from Reinforced Learning Through Human Feedback (RLHF) due to AQuity’s datasets.  

The mixed firm will function underneath the title IKS Health. It may have an annual income of greater than $330 million and a world workforce of greater than 14,000 staff, together with 1,500 clinicians and 350 medical coders, expertise consultants, scientific documentation specialists and income integrity specialists. 

“We’re excited to join forces with a like-minded industry leader in IKS,” Kashyap Joshi, CEO of AQuity, mentioned in an announcement. “Our award-winning solutions have been recognized by KLAS and Black Book as market leading, highlighting our ability to drive superior outcomes for our clients. By combining our capabilities, we will accelerate our commitment to delivering meaningful, pragmatic, and proven solutions for the entire continuum of care, so that patients have a better experience and practices, groups, and hospitals can thrive.”

THE LARGER TREND

Earlier this 12 months, IKS announced a partnership with AI-enabled medical documentation startup Abridge to construct and deploy AI expertise to scale back administrative burden amongst healthcare professionals. 

The firm additionally announced it was making a strategic funding in Milwaukee-based healthcare funds and income cycle administration startup Sift Healthcare to hurry up its transfer into reactive income cycle administration. 

Other firms providing AI-enabled administrative help options embody Seattle-based Outbound AI, an organization providing AI-powered digital brokers that carry out administrative duties, and Element5, which supplies software program for post-acute care services to assist automate administrative duties.