Healthcare payments and pricing company Zelis is set to acquire reimbursement and claims platform Payer Compass in a move designed to streamline the claims management process, according to a Monday (Aug. 1) press release.
Zelis and Payer Compass will “leverage advanced technology and best-of-breed approaches to create reference-based pricing solutions to manage rising healthcare claims cost for clients and their members,” the release stated.
The transaction is expected to close in the third quarter, according to the release. Terms of the deal were not disclosed.
Zelis CEO Amanda Eisel said in the release that the acquisition will help the company in its mission to make healthcare more affordable and transparent.
“Through our combined assets, we’ll have the people, technology and shared energy to generate more savings for our clients and continue to positively impact healthcare’s rising costs and complexity,” she said, per the release.
Last September, Zelis announced an agreement to acquire Sapphire Digital, a platform for provider selection, patient access, price transparency and digital consumer navigation for healthcare. The goal was to help customers more readily “harmonize the complete healthcare payment process by pricing, paying and explaining healthcare,” Eisel said at the time.
Read more: Healthcare Payments Firm Zelis Buys Sapphire Digital
The acquisition was expected help Zelis streamline operations by “integrating Zelis’ payments and communications capabilities with Sapphire’s market-leading consumer navigation tools,” Eisel said at the time.
In 2019, Zelis merged its payment systems with those of RedCard Systems to create a healthcare optimization platform.
See more: RedCard, Zelis Merge to Optimize Healthcare Payments
The platform planned to use the companies’ technology to price, pay and explain claims. The companies together worked with 700 payer clients, which included the top five national health plans along with around 600,000 providers.
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