Ann Arbor, MI — Altarum is pleased to announce that Change Healthcare has acquired PROMETHEUS Analytics®, an Altarum software application that supports episode analytics, health care payment, and value-based initiatives for public and private insurers and health systems.
Altarum has leveraged PROMETHEUS Analytics to help Colorado, Maryland, Michigan, Minnesota, and New York advance value-based payment by supporting the transition from Medicaid fee-for-service payments to value-based payments, identifying potentially avoidable complications, and producing episode-based spending estimates.
PROMETHEUS Analytics was originally developed by the Health Care Incentives Improvement Institute (HCI3) with funding from the Robert Wood Johnson Foundation. In 2017, Altarum integrated HCI3 into its operations and launched a subsidiary—Payformance Solutions. Over the past three years, the Payformance team built TrustHub, an alternative payment model contracting platform that is powered by PROMETHEUS Analytics. TrustHub also moves to Change Healthcare as part of the transaction.
“Altarum has played an important role in maturing value-based payment models, and Change Healthcare is well positioned to expand this work at scale, enabling Altarum to focus on our mission of advancing health of at-risk and disenfranchised populations through clinical quality improvement and public health interventions,” said Altarum President and CEO Lincoln Smith.
Altarum will continue advancing health care value through a variety of initiatives that empower people and the providers that serve them so that they may lead healthier, happier lives.