Edifecs Inc, which is backed by TA Associates and Francisco Partners, has acquired Talix, an information tech company. No financial terms were disclosed.
BELLEVUE, Wash. – SEPT. 13, 2021 – Edifecs, Inc., a health information technology solutions company, announced today that it has acquired Talix, an information technology company that provides risk and quality solutions to healthcare payers and providers.
The integration of Edifecs’ and Talix’s technologies will create an expanded risk adjustment solution with critical workflows and insights that improve efficiencies and directly support payer and provider collaboration.
“The more we learned about Talix, the more impressed we were with the company, their leadership team, and their patent-awarded technology,” said Venkat Kavarthapu, CEO of Edifecs. “Talix has deep NLP capabilities in the industry with a custom-built taxonomy of over a million health concepts. Our customers will be able to apply Talix’s deep semantic understanding of health concepts into their workflows to enable faster and more accurate documentation, ultimately raising quality and lowering costs further.”
Talix provides health plans with a natural language processing (NLP)-enabled risk adjustment coding, retrieval, and analytics platform to improve coding accuracy, efficiency, and overall revenue integrity of their programs. Talix also helps providers identify, document, and code risk-adjusted conditions accurately at the Point-of-Care (POC), leading to prospective gap closure, improved reimbursement accuracy, and better care management.
“The merger of these companies enables Edifecs to offer a more complete risk adjustment solution from insight, to intervention, to submission,” said Sunny Singh, Edifecs founder and Chairman of the Board. “This, in turn, will advance industry-critical value-based care initiatives by directly supporting providers with their increased acceptance of financial risk.”
By integrating Talix’s technology with Edifecs’ signature Encounter Management solution, Edifecs will provide the opportunity for customers to operate risk adjustment processes more efficiently for Medicare Advantage, Managed Medicaid, and Affordable Care Act (ACA) products. Customers will now have access to up-to-date claim and member information via Fast Healthcare Interoperability Resources (FHIR) application programming interfaces (APIs), highly scalable workflows, and mass actions that reduce the operational staff required to manage exceptions.
“We’re very excited about joining forces with Edifecs. Our combined capabilities will provide a more powerful and complete solution for health plans and providers to reduce manual, labor-intensive chart retrieval through an advanced, EHR-integrated coding platform,” said Dean Stephens, CEO of Talix. “We can provide new answers to prospective and retrospective problems via clear insight gained earlier in processes, leading to faster gap closure, better revenue integrity, and predictability, and ultimately increased ROI for our customers.”
Edifecs is a premier technology company in the US Healthcare market with solutions focused on interoperability, workflows, value-based care payments, and analytics. With innovative technology and solutions, Edifecs helps its customers by optimizing the secure exchange and processing of administrative and clinical data, reducing the cost of meeting various regulations, and automating workflows involved in multiple core processes within the healthcare ecosystem. Edifecs is a frontrunner in bringing new technology for B2B data exchange in healthcare streamlining business processes from “card to care,” and reducing the industry burden associated with data provisioning at the points of enrollment, care, payment, and reporting. With the advent of FHIR and new regulatory guidance from HHS, Edifecs has emerged as a leader in easing the effort associated with achieving compliance with new federal rules and in making the healthcare consumer the primary stakeholder. The company is headquartered in Bellevue, Washington, with additional offices in Atlanta, Georgia, and Mohali, India, an engineering center in Moldova, and has more than 750 employees globally. For more information about Edifecs, please visit www.edifecs.com.
Talix helps healthcare payers and providers succeed in value-based care with Risk Adjustment workflow and analytics solutions that provide a better understanding of the true risk acuity of their patients to ensure that these risk-adjusted conditions are accurately detected, documented, and captured. Talix offers a comprehensive, AI-powered SaaS platform to make the transformation to value-based reimbursement more seamless and effective. Using a combination of Talix’s comprehensive Taxonomy, state-of-the-art NLP, and a highly configurable Clinical Rules Engine, Talix enables payers and providers to unlock insights from their structured and unstructured patient data for better visibility and predictability of Risk Adjustment operations, revenue, and performance. Talix’s award-winning, patented NLP and machine learning (ML) techniques to power workflow applications, making processing patient data more accurate and efficient. For more information or to schedule a demo, please visit www.talix.com or email firstname.lastname@example.org.