Healthcare AI Company Innovaccer to Acquire Humbi AI
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Healthcare artificial intelligence company Innovaccer has announced its plans to acquire software, services, and analytics company Humbi AI for an undisclosed sum. This acquisition will be Innovaccer’s third, following previous acquisitions of Cured and Pharmacy Quality Solutions (PQS) in 2024.
Innovaccer intends to incorporate Humbi AI’s Actuarial Intelligence into its Healthcare Intelligence Cloud. The expertise of Humbi AI in Medicare and Medicaid data is particularly appealing to Innovaccer and will be integrated into its Intelligence Cloud.
According to Innovaccer, this integration will enhance its ability to assist healthcare organizations in improving health outcomes, managing risk, and enhancing overall performance.
Abhinav Shashank, co-founder, and CEO of Innovaccer, stated, “This acquisition is a significant step in Innovaccer’s mission to revolutionize healthcare by accelerating the transition to value-based care. Humbi AI’s actuarial expertise complements our existing platform, enabling us to help healthcare organizations design more intelligent value-based contracts, optimize drug commercialization, and manage performance in new and innovative ways.”
Impact of the Acquisition
By acquiring Humbi AI, Innovaccer aims to enhance its offerings across all points of care, enabling more intelligent, data-driven value-based contracts and financial performance for providers and Accountable Care Organizations. The acquisition is expected to improve contract performance, payer benchmarking, and optimize provider network management for payers. Additionally, in the life sciences sector, Actuarial Intelligence will assist companies in optimizing drug commercialization through data-driven insights, clinical effectiveness analysis, and utilization metrics.
Upon integration, customers of Humbi AI will gain access to Innovaccer’s Data activation platform, EHR connect, and clinical team, providing guidance through the end-to-end VBC platform.
Innovaccer recently announced its Series F fundraising round, signaling a strategic shift towards embracing AI technology.
Industry Trends
The move by Innovaccer to embrace AI aligns with the trend among health system executives who plan to invest in artificial intelligence, automation, and managed services to enhance revenue cycle performance, as stated in a September Guidehouse analysis.
In a separate report, the Congressional Budget Office examined the role of AI and machine learning in healthcare, noting mixed evidence on the technology’s usefulness, particularly in terms of costs. The practical application of AI and machine learning technologies is still evolving, with more empirical evidence needed to determine their overall impact on healthcare spending.
Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.
