USA – Lumiata, a healthcare-specific artificial intelligence platform, has sold strategic assets to Somatus, a value-based kidney care company.
Somatus stated that it would use Lumiata’s ability to accurately predict high-cost claimants and the likelihood of disease progression to advance its ability to reduce costs for providers and health plans.
Somatus stated that by leveraging Lumiata’s artificial intelligence and predictive capabilities, it will be able to identify opportunities to reduce costs and enable better care by providing reliable predictions for patient outcomes while also assisting in the identification and elimination of healthcare disparities.
Lumiata can make predictions down to the individual member level while protecting members’ privacy, which was an important factor in Somatus’ acquisition decision.
“We built our RenalIQ technology platform to help providers, health plans, and our community-based care teams reach patients most in need of personalized, whole-person care,” said Satish Cheema, chief product and strategy officer at Somatus, in a statement.
“With the addition of Lumiata’s predictive analytics tools, and the talent behind it, we can deliver enhanced care and improved outcomes for patients sooner.”
The RenalIQ platform helps health plans as well as Somatus’ leadership see how the network is doing, and which providers are performing better than others in terms of quality metrics, hospitalization metrics, utilization and other cost metrics.
According to Venture Beat, Lumiata raised US$14 million in 2021. According to its website, the company uses artificial intelligence to forecast the onset and progression of more than 130 acute and chronic illnesses over the next year.
“These predictions enable providers to intervene sooner and achieve better outcomes for their patients,” according to the company.
Somatus raised more than US$325 million in a series E funding round led by Wellington Management Company back in February, valuing the value-based kidney care company at more than US$2.5 billion.
The new funds more than double Somatus’ lifetime raise to nearly US$500 million and will be used to expand the reach of its care model, which currently serves members in 34 states, the company stated at that time.
Somatus has entered into a long-term, multi-year partnership with Anthem Inc. to change how members of Anthem’s affiliated Medicare Advantage plans experience and receive kidney care.
The Anthem acquisition broadens the company’s geographic footprint to 34 states and brings the number of kidney care lives under management to more than 150,000.