California-based healthcare data and analytics company Reveleer has acquired Novillus, which offers a workflow platform for health plans.
Reveleer, formerly Health Data Vision, provides an AI-enabled platform for payers aimed at advancing value-based care. The company offers workflow, data and analytics tools for risk adjustment, quality improvement and member management. It also provides medical record retrieval and review services.
Novillus is a workflow engine for payers that focuses on care gap management and workflow processing. The company also offers a provider directory data platform.
Reveleer will use Novillus’ technology to expand its clinical intelligence tools in value-based care and allow for collaboration between health plans and providers.
“By acquiring Novillus, we’re accelerating our strategy of aligning payers and providers to improve health outcomes through faster care gap closure,” Jay Ackerman, CEO of Reveleer, said in a statement.
“This acquisition strengthens our platform’s ability to deliver unmatched AI-powered quality and clinical intelligence solutions, while helping our customers not only meet, but exceed their goals for Star Rating performance, risk adjustment accuracy, and care gap closure. All are key areas that drive improved patient outcomes, reduce cost of care, and improve financial success.”
THE LARGER TREND
Last year, Reveleer secured more than $65 million in a funding round led by Hercules Capital.
In 2021, the company raised $65 million in a round led by Oak HC/FT with participation from previous investors Boston Millennia Partners and Upfront Ventures.
In 2023, Reveleer acquired MDPortals, a risk adjustment platform that compiles patient data from diverse sources across the care continuum into a unified longitudinal health record. The acquisition allowed Reveleer to integrate this capability into its existing platform.
A year before, Reveleer acquired Dynamic Healthcare Systems, which provided an integrated workflow platform focused on member management, revenue optimization and risk management. Dynamic supported health plans involved in Medicare standalone plans, Medicare Advantage, and Medicaid and Exchange programs.
