COCKISVILLE, Maryland, October 23, 2023—(BUSINESS WIRE)–TREND Health Partners (“TREND”) announced today that it has acquired PrecisionGx, a fast-growing provider of next-generation artificial intelligence (“AI”) and machine learning (“ML”) solutions, to improve healthcare payment accuracy. The acquisition further solidifies TREND’s position as a leader in credit balance management and payment accuracy solutions for payers and healthcare providers.
PrecisionGx’s team of industry experts and leading data scientists have built a powerful AI and ML-enabled analytics engine, Astria, that automates the review of healthcare claims to identify and prevent inaccurate payments. Astria incorporates decades of experience and billions of data from live audits and AI to continuously automate and identify new opportunities. This allows PrecisionGx to deliver greater intelligence to its customers at a lower cost. PrecisionGx’s advanced analytics are proven at scale across a variety of use cases, including prepaid and postpaid applications.
“We have followed PrecisionGx closely over the past few years and have been impressed with the innovation they are bringing to the industry. We believe the enhanced intelligence and automation that PrecisionGx solutions enable will be a powerful addition to TREND’s existing analytics and workflow platform, TRENDConnect, and help us deliver even more value to our customers. We are very excited to welcome the PrecisionGx team to the TREND organization,” said Sarah Armstrong, CEO of TREND.
“We believe we are on the cusp of a watershed moment in healthcare payment accuracy. With our leading AI capabilities, TREND’s platform, and our combined talent and experience, together we are uniquely positioned to drive unprecedented value and results in this space. Ultimately, this partnership will improve efficiency for our customers and reduce costs for the millions of patients who depend on them,” added Casey Sousa, founder and CEO of PrecisionGx.
The strategic acquisition of PrecisionGx further strengthens TREND’s existing credit balance and payment accuracy offerings and adds new capabilities including membership integrity and automated intelligence supporting clinical, non-clinical and prepaid auditing. The combined scale and talent of the two organizations will also help accelerate TREND’s innovation agenda as it seeks to continue driving positive change in the healthcare ecosystem.
About TREND Health Partners – TREND Health Partners is an independent healthcare payment company. Through a suite of technology-enabled credit balance management and payment accuracy solutions, TREND facilitates collaboration between providers and payers for mutual benefit, striving to eliminate waste, reduce costs and improve access to healthcare. For more information, please visit www.trendhealthpartners.com.
About PrecisionGx – PrecisionGx delivers AI technology to health insurers and third-party claims administrators to help automate and improve payment processes and membership integrity. PrecisionGx’s AI-enabled claims audit technology creates automated claims intelligence that can find more recoveries and be deployed earlier in payment workflows, including in prepayment and prejudgment positions, to prevent overpayments before to happen.
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