Healthcare News

This AI Acquisition Is Healthcare’s Next Frontier

Data is one of healthcare’s most complex and integral components. New advanced technologies allow practitioners to access data more efficiently, enabling better decisions for healthcare providers. The challenge is finding the right way to access and analyze this data to serve patients better.

Amplify Health, a pan-Asian integrated health technology solution provider based in Singapore and a joint venture between AIA Group Limited and Discovery Group Limited, is looking to do precisely this with AI. It recently announced its acquisition of AiDA Technologies (AiDA), a provider of artificial intelligence solutions in Asia Pacific.

The acquisition of AiDA aims to expand Amplify Health’s presence in South-East Asia and establish a foundation for future growth. AiDA has built a client base across the region and a network of relationships in government, academia, research and other third-party institutions. This integration is expected to enhance its team of data scientists in transforming complex information into usable insights.

“Driven by our purpose to make the people of Asia Pacific healthier, we are building an integrated health technology solutions business that transforms health and wellness for patients and communities across the Asia Pacific. The acquisition of AiDA Technologies adds further AI and machine learning capability to our existing IP and integrated health technology solutions stack that we are deploying throughout the region,” said Dr. Axel Baur, deputy chief executive of Amplify Health.

AiDA has developed a suite of proprietary machine learning technologies to automate underwriting and claims processing and detect fraud, waste and abuse. They enable companies to use data better to accelerate processes, increase revenue, drive cost reductions and anticipate evolving risk.

These capabilities build on the existing Amplify Health integrated health technology solutions stack and associated IP comprising production-tested claims processing and administration systems, integrated digital health programs to manage chronic disease and private medical insurance (PMI) product development capabilities, all underpinned by proprietary health intelligence platforms.

“As we sought to unlock the future potential of AiDA Technologies, we looked for a partner who could provide greater domain expertise, financial resources and access to new distribution networks to enable us to scale for even greater impact. We are confident that we have found that partner in Amplify Health and its impressive team,” said Dr. Tan Geok Leng, chief executive officer of AiDA Technologies and one of its founders.

Amplify Health is. Its integrated health technology solutions seek to empower its clients to improve healthcare funding, access and delivery at every point in the value chain to improve the health and well-being of people and communities across Asia.

Image credit: iStockphoto/Kenneth Chow

Source link

Leave a Comment