Innovaccer embraces AI with Humbi AI acquisition

Photo: Laurence Dutton/Getty Images

Healthcare artificial intelligence company Innovaccer has signaled its intent to acquire software, services and analytics company Humbi AI for an undisclosed amount.

This marks Innovaccer’s third acquisition, following Cured and Pharmacy Quality Solutions (PQS) in 2024.

According to Innovaccer, Humbi AI’s Actuarial Intelligence will be a component of the former’s Healthcare Intelligence Cloud. Especially attractive to Innovaccer was Humbi AI’s expertise in Medicare and Medicaid data, which will be rolled into Innovaccer’s Intelligence Cloud. 

This integration, said Innovaccer, will enhance its ability to help health organizations improve health and better manage risk and performance.

“This acquisition is a pivotal moment in Innovaccer’s ongoing mission to transform healthcare by accelerating its shift to value-based care,” said Abhinav Shashank, co-founder and CEO of Innovaccer. “Humbi AI’s actuarial expertise complements our existing platform, giving us the unique ability to help healthcare organizations design smarter value-based contracts, optimize drug commercialization, and manage performance in unprecedented ways.”

WHAT’S THE IMPACT

What Humble AI will do, said Innovaccer, is to help it touch all points of care, heralding more intelligent, data-driven value-based contracts and financial performance for providers and Accountable Care Organizations. 

For payers, Innovaccer expects the move will improve contract performance, payer benchmarking, and optimize provider network management. In the life sciences sector, the Actuarial Intelligence is expected to help companies optimize drug commercialization through data-driven insights, clinical effectiveness analysis and utilization metrics.

Upon integration, Humbi AI’s customers will have access to Innovaccer’s Data activation platform, EHR connect and clinical team to guide them through the end-to-end VBC platform.

Innovaccer recently announced its Series F fundraise, indicating a shift toward embracing AI technology.

THE LARGER TREND

Innovaccer’s embrace of AI mirrors that of health system executives, who plan to invest in artificial intelligence, automation and managed services to improve revenue cycle performance over the next year, according to a September Guidehouse analysis.

In March, the Congressional Budget Office addressed AI and machine learning in healthcare, determining that the evidence on the usefulness of the technology is mixed, particularly when it comes to costs. 

The practical application of these technologies is still inconsistent at this nascent phase, CBO determined. It said it will need to see more empirical evidence before determining the overall effect on things like healthcare spending.

Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.