Experian Health, the health information technology arm of global information services company Experian, has acquired Nashville-based startup MyHealthDirect, which developed an online scheduling service for patients.
Experian said the acquisition strengthens the company's capabilities to help simplify the financial and administrative aspects of healthcare—making tasks like scheduling, registration and check-in smoother, cost estimates more accurate, and insurance coverage easier to verify.
Financial terms of the deal were not disclosed.
Founded in 2006, MyHealthDirect built a platform that helps patients choose providers and enables real-time scheduling online, in call centers, and in provider offices. The company says it works with three of the nation’s top five health plans and some of the country's largest health systems and medical groups.
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MyHealthDirect said its platform can increase providers' appointment and referral rates, reduce appointment “no-shows,” and enhance the overall patient experience.
Experian has expanded its hospital revenue cycle solutions with several acquisitions, including Medical Present Value, which Experian acquired for $185 million in 2011. Experian also acquired Passport Health for $850 million in 2013.
Both Experian Health and MyHealthDirect are focused on removing the complexities that exist in healthcare, Jason Considine, senior vice president and general manager for patient access, collections and engagement for Experian Health, told FierceHealthcare.
"Experian Health and MyHealthDirect have been at the forefront of healthcare’s consumerism trend, enabling providers to give patients a more effortless and convenient pre-registration and check-in process, in addition to streamlining and simplifying collections," Considine said.
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Putting MyHealthDirect's capabilities around self-service appointment scheduling and registration together with Experian's solutions that simplify the financial and administrative aspects of healthcare will help the company execute on its strategy of creating a frictionless environment for patients and providers, Considine said.
The acquisition of MyHealthDirect will enable Experian to further evolve its offering, encompassing care coordination, revenue cycle management, identity management, and patient engagement solutions, the company said.
Experian Health's client base includes 3,400 hospitals and 7,300 other healthcare organizations representing more than 500,000 providers.
“MyHealthDirect and Experian will realize mutual benefits around market expansion, product development and enhancement, and best in class data solutions,” Tom Cox, CEO of MyHealthDirect, said in a statement.
There has been a lot of deal activity lately around healthcare companies focused on improving patients' financial experience and tackling healthcare payment challenges.
Global investment firm EQT Partners and the Canadian Pension Plan Investment Board recently acquired a majority stake in RCM technology company Waystar. The deal values the healthcare technology company at $2.7 billion.
JPMorgan Chase & Co. plans to acquire InstaMed, a U.S. healthcare payments technology firm. JPMorgan is paying more than $500 million for the business, according to CNBC.