Chicago-based Apervita, a healthcare cloud platform and collaboration company, has acquired Boston-based Qcentive, a company focused on value-based contract and alternative payment administration solutions for healthcare organizations.
Apervita said the combined solutions would integrate clinical and financial insights into a single, secure platform to enable healthcare organizations to create value-based contracts that drive greater efficiency and quality of care.
Apervita allows enterprises to build applications for a wide array of clinical, financial and operational use cases. In 2018, the company says, it onboarded nearly 1,000 hospitals to its platform, with over 3,000 expected by the end of 2019.
Apervita allows enterprises to build applications leveraging the most current healthcare standards, such as Clinical Quality Language (CQL), electronic Clinical Quality Measures (eCQMs), FHIR and CCDA, as well as vocabularies such as SNOMED-CT, LOINC, ICD-10, and RxNorm.
Providers, payers, vendors and others such as regulatory bodies can easily build applications on the platform, and deliver outputs from those applications directly into clinical and operational workflows at scale. Apervita allows these enterprises to share applications and data within and outside of their organizations in a safe and controlled fashion.
"Qcentive is the perfect complement to Apervita," said Paul Magelli, CEO of Apervita, in a statement about the purchase. "Apervita has focused on performance measurement and improvement for providers and plans, including the ability to engage providers directly in their workflow. Qcentive's focus on performance-based contracts between plans and providers and their associated economics is a natural extension."
Qcentive was launched in 2016 by Blue Cross Blue Shield of Massachusetts. BCBSMA has engaged Apervita and will continue to be a customer of Qcentive technologies.
"Several years ago, we realized we needed a cloud-based analytics solution to make it easier to navigate the complex demands of a new generation of value-based contracts," said Patrick Gilligan, executive vice president of sales, marketing and product for BCBSMA and CEO of its venture investment subsidiary, Zaffre Investments, in a statement. "Not finding a solution in the market, we incubated Qcentive with the intent of sharing its innovations with the broader market. The combination of Apervita and Qcentive makes this vision a reality."
The combined Apervita and Qcentive entity will operate under the Apervita brand with offices in Chicago and Boston.
