Apervita has acquired Boston-based Qcentive, a value-based contract and alternative payment administration solutions provider for health care organizations. The combined Apervita-Qcentive solutions are expected to integrate clinical and financial insights into a single, secure platform to enable health care organizations to create value-based contracts that drive greater efficiency and quality of care.
Financial terms of the deal were not disclosed.
“Qcentive is the perfect complement to Apervita,” Apervita CEO Paul Magelli said in a statement. “Apervita has focused on performance measurement and improvement for providers and plans, including the ability to engage providers directly in their workflow. Qcentive’s focus on performance-based contracts between plans and providers and their associated economics is a natural extension.”
Qcentive Co-Founder and CEO Christopher Pilkington added: “Value-based relationships are critical building blocks to changing the way we buy and sell healthcare. Linking plans and providers through a trusted secure platform that aligns incentives across quality, efficiency and consumer satisfaction is absolutely essential. The Apervita-Qcentive combination is the first healthcare industry platform with the ingredients to make that happen at scale.”
Qcentive was launched in 2016 by Blue Cross Blue Shield of Massachusetts, which has engaged Apervita and will continue to be a customer of Qcentive technologies.
Qcentive was designed to allow other health care organizations to create their own value-based models. It provides detailed insights into the quality of clinical care and financial results to both payers and providers on a continuous, year-round basis. The combined Apervita and Qcentive entity will operate under the Apervita brand with offices in Chicago and Boston.
Apervita is the first platform-as-a-service for the health care industry that enables providers, payers and their stakeholders to more easily connect, build and share critical applications that lower costs, improve consumer and clinician experience and improve health care outcomes. Its solutions are used by approximately 1,000 U.S. hospitals.
Apervita has raised $21 million in funding through four rounds, according to Crunchbase.
