Value-based care enablement company Aledade announced the acquisition of Iris Healthcare, a provider of Advance Care Planning (ACP) solutions for the seriously ill.
- Aledade uses data analytics and guided workflows to help primary care practices with the shift to value-based care. The company’s platform helps practices identify and better manage their highest risk patients.
- Iris Healthcare provides ACP services aimed at reducing unnecessary care while ensuring that critically ill patients receive care consistent with their values and preferences by formally documenting those wishes in an advance directive.
- The tuck-in acquisition will see Iris’ ACP offerings folded into Aledade’s new health services unit called Aledade Care Solutions, which is designed to give the company’s partners more ways to address their current inefficiencies.
- Combining Iris’ services with Aledade’s predictive algorithm and data will help better identify patients who could benefit from ACP, which demonstrated better outcomes and higher patient satisfaction following a successful pilot program last year.
Change the Model, Change the Results
Aledade’s software-led model for assisting providers is highly scalable, allowing it to be more capital efficient than competitors that are building value-based primary care clinics from scratch. The company’s contracts collectively cover more than 1.7M patients (up 20% from last year), and it’s operations rank it among the coveted healthcare startups that are turning a profit.
Aledade was profitable for the second straight year in 2021 with gross revenue of $300M, a figure that it expects to double by 2023.