Providence Spins Out Analytics Firm Advata
Washington-based health system Providence has spun out an analytics software company called Advata that brings together the strengths of six companies to provide clinical decision support and back-office management to optimize care and operations.
The Advata brand integrates KenSci, Colburn Hill Group, Alphalytics, Lumedic, Quiviq, and MultiScale by Providence, one of the nation’s largest health systems, with 52 hospitals across seven Western states.
Advata’s solutions include pre-built cloud-native products on Microsoft Azure. Colburn Hill Group, Alphalytics, and Lumedic’s products have combined to offer a broad portfolio of revenue cycle management (RCM) solutions for healthcare providers.
“At our core, Advata is aware that every data point has a human life behind it,” said Julie Rezek, Advata CEO, in a statement. “Our solutions deliver insights for health providers and payers to help make informed care decisions to improve patient outcomes. We are setting a new standard for advanced data analytics utilizing AI insights to enable smarter healthcare operations, reduce costs, and recover revenue.”
The company said its insights create intelligent workflows in the most expensive and complex areas of healthcare, like the emergency department and operating room. It said it leverages data to improve revenue cycle logic and optimize cash flow.
“Providence has been on a journey to transform healthcare through innovation, and Advata is a culmination of this important work,” said Rod Hochman, M.D., president and CEO of Providence, in a statement. “It represents our belief that when you pair data science with responsible artificial intelligence, machine learning, automation, and other technological advancements, you can better support clinicians at the bedside and in clinics, improve patient outcomes, and decrease overall healthcare costs.”
