In case you missed the news, record profits again were maintained by United for the year and the 4th quarter. The Ingenix division is the group that runs all the business intelligence analysis programs and creates software, in other words they write the algorithms.
UnitedHealth Group Reports Record Profits for 2010 of $1.80 Billion-Algorithm Revenues Up with Subsidiary Groups Too
In addition Ingenix is creating a Life Sciences operation, with more analytical business intelligence analysis systems to include the company purchased in China in 2010. The divisions being sold represent around $400 Million a year in revenue.
“InVentiv Health brings clarity to the intricate issues facing the healthcare industry and provides the tools and talent that you need to succeed. An unmatched depth and breadth of expertise in clinical development, launch, and commercialization gives us a big picture perspective. Using this insight, we develop and deploy innovative, multidisciplinary solutions to help brands make their mark.”
Earlier this year Ingenix bought another analytics company who’s goal is to identify future risks. It looks as though they are swapping out one set of business intelligence for another and of course going in the direction of the money. Here’s a few more past links from 2010. Back in August of 2010 was when the consulting group was originally announced.
Ingenix (Subsidiary of United Health Care) Buys QualityMetric – More Algorithmic Formulas To Choose From To Identify Future Risk and Cost
Every so often more software is released too for medical records, analytics , etc. and the links below talks about some of those areas, again from last year. Many times too when companies are sold in the software business, the company doing the selling becomes either a client or supplier so in many instances it may be business as usual for the end user along with new software upgrades that may appear with combining data system, but that’s not true the time as it depends on what data is there to work with and furthermore how much additional profit can be generated by doing so.
Ingenix Consulting Adds New Consulting Gig–Strategic Technology Solutions–Focus on Health IT Executives On How to Invest and Implement Algorithmic Performance Strategies
With reorganization and so many subsidiaries and then their subsidiaries, it makes it a bit of a challenge to find the parent company sometimes and thus so the SEC and other regulation agencies of the government may find it like chasing a run away train at times. Gordon Brown, former prime minister of the UK made a statement that made me just about fall out of my chair in the fact that he said “he had no idea that the banks we so connected with technology” and I use this a prime example as we have tons of those “IT illiterates” here in the US too.
Ingenix (UnitedHealthCare Subsidiary) Creates Desktop Software for Employers to Analyze Employee Benefit Use To Help Cut Costs – More Analytics and Algorithms To Save That Buck
Back on course here,I am certainly guessing that their analytics and behavior related analysis business intelligence was responsible for guiding some of the mergers and acquisitions as well as I’m sure they eat some of their own “internal dog food” too. Both bankers and insurance companies have some of the most extensive uses of business intelligence software around and they invest heavily all the way around as data is their money and profits. You can read more a the link below on how some of these same financial methodologies are working their way into healthcare. BD
High Frequency Trading on Wall Street Creates and Complicates “High Frequency Healthcare”–Those Algorithms
Ingenix is moving out of the Phase II–III trials support arena through the sale of its i3 businesses to InVentiv Health, another provider of outsourced clinical development services. Ingenix’ decision to sell off its clinical development operations coincides with the firm’s announcement that it is setting up a new division, Ingenix Life Sciences, which will focus on offering nonclinical and consultancy services.
InVentiv’s acquisition will include the Ingenix businesses i3Research, i3 Statprobe, and i3 Pharma Resourcing, which together generate about $400 million in annual gross revenues. The firm said the i3 brand name will be retained, and aligned with InVentiv’s existing clinical development offerings.
Ingenix’ new life sciences operation, meanwhile, will focus on providing global services and consultancy for product commercialization, safety, regulatory, and late-phase activities. The new division will incorporate a number of Ingenix’ current business units, including Innovus, Quality Metric, Pharma Informatics, Drug Safety/Epidemiology, along with the canReg and ChinaGate Regulatory Consulting businesses.