Centene Expands Analytics Capabilities With Apixio Purchase
Managed healthcare giant Centene Corp. (NYSE: CNC) is acquiring healthcare analytics company Apixio Inc.
Founded in 2009, San Mateo, Calif.-based Apixio provides a technology suite that mines, compiles and analyzes large volumes of disparate, unstructured patient data (such as physician notes and medical charts), and creates and refines algorithms to extract insights to support payers' and providers' administrative activities.
In 2019, Apixio said that it serves 46 percent of Blue Cross Blue Shield insurance companies offering Medicare Advantage plans. The company said its algorithm predictions are strengthened by learning from a diverse base of medical records spanning all medical specialties and geographies.
St. Louis-based Centene’s managed care segment offers coverage to individuals through Medicaid, state children's health insurance program, long-term services and support, foster care, and dual-eligible plans.
"Centene is committed to accelerating innovation, modernization and digitization across the enterprise and solidify its position as a technology company focused on healthcare. Apixio's capabilities are closely aligned with our plans to digitize the administration of healthcare and to leverage comprehensive data to help improve the lives of our members," said Michael Neidorff, chairman, president and CEO of Centene, in a statement. "Apixio's technology will complement existing data analytics products including Interpreta, creating a differentiated platform to broaden support for value-based healthcare payment and delivery with actionable intelligence."
Apixio will remain an operationally independent entity as part of Centene's Health Care Enterprises group. “With Centene, we will be able to accelerate the use of our AI technology to improve the way that healthcare is measured, administered, and delivered, and to help enable new discoveries," said Darren Schulte, M.D., CEO of Apixio, in a statement. "This partnership positions Apixio to extract insights from digital data to help millions of individuals receive higher quality care around the world."
