HealthEdge and UST HealthProof have jointly announced the successful close of their merger, following Bain Capital’s acquisition of UST HealthProof from UST.
According to certain reports, this newly-formed entity will operate as HealthEdge, boasting significant reach into the U.S. healthcare system, as it is projected to impact over 110 million lives. The company will do so by leveraging a modern AI-enabled technology and services that lower total costs and improve operational efficiency.
On top of that, it will also be supported by Bain Capital’s forty-plus years of experience in building value for healthcare companies around the world to drive innovation and improve patient experiences and outcomes.
“HealthEdge has successfully partnered with health plans for years to drive continuous innovation in healthcare IT,” said Steve Krupa, member of HealthEdge’s Board of Directors. “We’re now positioned to unite modern technology with proprietary interoperability and proven operational expertise — enabling health plans to deliver a future of frictionless and cost-effective healthcare experiences. We’re excited to join forces with UST HealthProof to deliver even greater value to our customers and teams.”
The combination of HealthEdge and UST HealthProof further creates a single, end-to-end platform for the purpose of empowering payers to modernize their operations. The effort essentially involves uniting HealthEdge’s AI-powered payer applications with UST HealthProof’s interoperability suite to streamline administrative processes, lowers total costs, and improve the member experience.
To go along with that, UST HealthProof’s proprietary technology also reduces the risks of migrating to the cloud and give payers a safer path towards digital transformation, while simultaneously supporting better clinical outcomes for both payers and patients.
Talk about the benefits of this combined company on a slightly deeper level, we begin from the promise to drive more value for payers. This translates to how the combined company will bet on integrated software and tech-enabled services to lower total costs, and at the same time, improve clinical outcomes.
Next up, there is the prospect of unlocking new product and market expansion opportunities in a growing industry.
“By bringing these two leaders together, we are creating the clear next-generation cloud-based claims system for payers, with the scale, expertise, and technology to disrupt the sector. With healthcare at a critical inflection point and payers under unprecedented financial pressure, the combined company is well positioned to lower costs, harness AI-driven innovation, and deliver the frictionless US healthcare experience of the future,” said Paul Moskowitz, a Partner at Bain Capital.
Another detail worth a mention is rooted in the company’s focus on accelerating platform and services innovation through an AI-native operating system, well-equipped to support all aspects of the payer value-chain, from claims administration automation and payment integrity to personalized member engagement.
Rounding up highlights would be the commitment to create a stronger unified go-to-market presence to address customers’ greatest needs.
“I’m honored to take the helm at this pivotal moment for healthcare technology,” said Kevin Adams, CEO of HealthEdge. “Health plans are looking for new ways to handle rising costs and regulatory demands while meeting what their members expect. This merger brings together best-in-class payer technology with seamless integration capabilities and experienced operational teams. It streamlines the administrative complexity that health plans deal with every day. Our integrated approach gives them a solution that’s easier to implement and more effective in delivering the value they are seeking.”