I am just posing a question here as this is what seems to be happening all around us today and some is good and some is just flat out marketing and we don’t know until we are presented with a software solution. We can stay tuned and see how the combining of data available affects this acquisition. It could be very well that operations stay as they are but in today’s world that’s doubtful as the entire idea today is to get the data, write some algos and sell it. I’m just trying to talk real life with what is happening around us and it goes on behind closed ‘servers” so you don’t know.
How much is that algorithm in the window?
Not too long ago Harvard said they were going to start a study about how mergers and acquisitions are affecting healthcare and I said what took so long to start the project. I have been reporting on those items for at least 3 years here as they take place and again focus on how the merged or acquired companies are going to combine and use data and so far it’s right on target with what I have been alluding to. Last week we had another credit agency called FICO that said they could use “their” algorithms to predict if patients were going to be medication compliance and there’s a ton of marketing to sell software or in other words, collect data and sell those algos!
We all know credit agencies sell credit information so this has a somewhat a ring to it with acquiring medical billing and sure the Experian data on file can be helpful to link to patients if they want as along as it does not end up denying service as we so many digital illiterates that use guidelines for that purpose only. Data should be analyzed and used in the proper context and we should have individuals using the information in constructive ways even if that means losing a buck now and then when it comes to healthcare, patient should come first. Most of the current board members are from venture capital firms with one member who also sits on the board of Express Scripts (they sell data). BD
* Experian's second acquisition in U.S. medical payments (Adds detail, background)
LONDON, June 28 (Reuters) - British credit information firm Experian is buying medical payments specialist Medical Present Value for $185 million in cash to tap growing demand for payment administration systems in the U.S. medical sector.
Experian, best known for running consumer credit checks for banks and retailers, said it would fund the deal from its own cash resources.
The takeover, Experian's second in the U.S. medical payments industry after its 2008 acquisition of software firm Search America, will help the group exploit growing demand among U.S. doctors for billing administration systems as increasingly complex regulations prompt frequent changes to patients' healthcare plans.