Athenahealth to buy Boston data analytics business
Athenahealth Inc. (Nasdaq: ATHN) announced Thursday morning it has signed an agreement to acquire Healthcare Data Services LLC (HDS), a Boston health care data analytics technology company for payers and health care providers. The acquisition takes aim at pay for performance and other innovations in health care and health insurance, according to company officials.
The deal is expected to close in October, and will add to athenahealth's cloud services portfolio, the Watertown, Mass. company said in a news release. Terms were not disclosed.
“Value-based payment models are fundamentally changing the way patient care is coordinated, delivered, and reimbursed,” athenahealth CEO and Chairman Jonathan Bush said in a statement. “With HDS, we can help health care organizations to thrive in the face of change—to drive down costs through smart, high quality care coordination and to understand the totality of services being provided. This acquisition supports our existing efforts to create an information backbone that makes health care work as it should.”
Value-based payment as Athenahealth understands it includes strategies such as pay for performance, global budgets for patient care and bundled payment strategies, a spokesman said. An approach to health insurance designed to reward providers for outcomes and other performance measures, instead of a traditional fee-for-service structure.