Healthcare technology company WellSky is acquiring Healthify to expand its social determinants of health initiatives.
Start up Healthify connects providers with community-based social service organizations to address the social determinants of patients’ health and has one of the largest networks of community-based organizations in the country.
Terms of the deal were not disclosed.
WellSky has developed software for the post-acute care space and saw an opportunity to connect providers, payers, states and community organizations to deliver social determinants of health initiatives at scale, the executives said.
“While WellSky is a recognized leader in post-acute care, our reach and influence spans the entire continuum of care settings, including acute, post-acute, personal care and community care providers,” WellSky CEO Bill Miller told Fierce Healthcare.
“As state governments, payers, and health systems seek new ways to collaborate with social service organizations in an effort to improve health outcomes and reduce costs, it was important to us to add depth to our technology and expanding access to our networks to address SDOH in support of comprehensive care Being able to connect providers, payers, states and community organizations to deliver social determinants of health initiatives at scale is critical to achieving success with care based on values and improve the overall quality of care, “Miller said.
RELATED: Allscripts Sells Care Coordination Business to WellSky for $ 1.3B
The Overland Park, Kansas-based company is jointly owned by two of the world’s largest private equity firms, TPG Capital and Leonard Green & Partners.
With Healthify’s capabilities, WellSky will connect providers across and within communities to identify social needs, seek social services, and coordinate care with a responsible network of community partners to improve outcomes and remove social barriers to health. and wellness, executives said.
The technology will allow WellSky clients to receive referrals and work with states, payers and healthcare systems without the burden of changing workflows or software systems.
Over time, with the strong combined data and analytics capabilities of Healthify and WellSky, WellSky customers and their network partners will have the ability to track SDOH trends in their communities and measure the impact of social care interventions on health system utilization and costs, Miller said.
Launched in 2013, Healthify had raised $ 26 million, including $ 16 million in a Series B round in November 2019.
“With the addition of Healthify, WellSky adds another crucial capability to our broad portfolio and further strengthens our position as the leading technology partner connecting care across acute, post-aggression and community organizations. By leveraging Healthify’s networks of community organizations and its interoperable closed-loop referral platform, payers and providers can effectively coordinate care to close gaps, improve outcomes, and promote health equity, “Miller said in a release.
Approximately 300 area agencies on aging (AAA) and 250 continuums of care (CoC) take advantage of WellSky solutions and services every day. WellSky’s expertise in social services complements Healthify’s technology, network building and relationships with payers, according to the company.
The companies will integrate Healthify’s SDoH referral platform and community networks with WellSky’s human and social services network to drive better outcomes for people and improve their quality of life while reducing the overall cost of care, said the executives.
New companies focused on the social determinants of health are experiencing strong growth and attracting large investments.
RELATED: Unite Us banks $ 150M series C to expand networks linking health and social services
Unite Us closed $ 150 million in Series C financing in March led by Iconiq Growth. The round was supported by Optum, Emerson Collective, Transformation Capital, Define Ventures, and various healthcare partners, as well as existing investors Salesforce and Town Hall.
Other companies in the SDOH network include NowPow, which works with NYC Health + Hospitals and Northwell Health, and Aunt berta, a reference platform for social services.
Healthify joins other companies in the field of SDOH analysis, such as Socially determined, which developed a cloud-based platform that offers social risk analysis and data visualization solutions for the healthcare industry, as well as Arcadia, Signify Health, and Health Catalyst.
The combination of WellSky and Healthify offers one of the “largest social service networks in the country,” according to Manik Bhat, co-founder and CEO of Healthify, as well as a set of market-defining solutions linking health and community services. . robust ROI analysis with additional clinical data and the ability to scale social service reimbursement as the US faces a long-term recovery from the pandemic. “
Healthify customers will gain access to additional social services on their networks, access to provider systems, and the ability to implement additional technology to address community needs.
WellSky serves over 20,000 customer sites, including the largest hospital systems, blood banks, cell therapy labs, blood centers, home health and hospice franchises, acute care providers , government agencies and human service organizations.
The Healthify acquisition follows in the footsteps of WellSky’s $ 1.3 billion deal to purchase CarePort Health from Allscripts. CarePort Health, which Allscripts acquired in 2016, develops software that connects acute and post-acute providers and payers.