Best Doctors, Inc. Acquires Rise Health to Accelerate Expansion of its Digital Health Solutions Focused on Helping People Get the Right Diagnosis and Treatment
December 15, 2014
BOSTON, MA – Best Doctors, Inc., the global health company that brings together the best minds in medicine to help people get the right diagnosis and treatment plan, today announced that it has acquired Rise Health, a leading population health management company. The acquisition provides Best Doctors® with data integration and advanced analytics capabilities to add to its care management platform and expansion into new markets.
“For over 25 years, Best Doctors has been innovating to help employers and health plans ensure that their members combat medical uncertainty with access to the best medical minds,” said David Seligman, Chairman and CEO of Best Doctors. “With the acquisition of Rise Health and its robust software platform and application development team, we can take that medical excellence and turn actionable insight into personalized engagement to deliver the right care, leveraging Best Doctors’ global delivery model.”
Chicago-based Rise Health has built a comprehensive population health platform that develops intelligent, actionable data at a population level, and supports care delivery teams in taking action at the member level. The Company provides tools to help payers and providers manage the transition from fee for service to value based care. Designed specifically for today’s risk-sharing environments, Rise Health’s sophisticated technology is intended for results. Through a vertically integrated product suite that includes Ascend Enterprise Platform, Stratus Population Health Analytics application and Cirrus Patient Relationship Manager, Rise Health offers a complete solution that enables clinical surveillance and improves operational processes. Together with Rise Health, Best Doctors has the ability to reach across all market segments with a combined solution offering analytic insights and medical expertise in an intimate consumer-centric experience.
Benefits of the transaction include:
- Enhanced Revenue Streams from Complementary Products
Rise Health adds significant and stable recurring revenue streams from its innovative suite of products. These include Ascend, a robust and highly scalable cloud platform that integrates payer, EMR, and other clinical data streams, as well as Stratus, a data visualization and analytics platform, and Cirrus, a healthcare focused CRM tool for providers to manage their patient populations. SAAS based revenue from these products enhance recurring revenue from existing products and services for Best Doctors.
- Talented and Accomplished Employees with Extensive Health Care Research and Development Experience
Rise Health brings a dedicated, talented team of professionals whose healthcare knowledge and expertise has established Rise Health as a premier provider of software based population health solutions. Part of this employee base includes research and development staff whose experience includes developing applications for emergency rooms at IBEX, Picis, and Optum. The result is an experienced research and development, support and services organization focused on delivering reliable and efficient data and analytics solutions to the healthcare industry.
- Rapid Development Capabilities of Technical Intellectual Property
The Rise Health platform provides a highly-secure cloud platform that scales to meet the requirements of the largest enterprises and integrates with major health plans and providers. The Rise Health Ascend platform brings together data from the entire health care ecosystem, including clinical, claims, and consumer, and combines it with internal data generated from use of Rise Health and Best Doctors applications. That database already includes highly acute and complex cases where Best Doctors has demonstrated a meaningful improvement on outcomes for the 3% of the population driving 40% of all health care spending in the United States.
“Population health has so far been defined by data integration and analytics, but these alone don’t improve quality and outcomes or lower cost,” said Dr. Mark Crockett, CEO for Rise Health. “The combination of our companies really creates an exciting, new kind of healthcare enterprise – one that transforms insight into action.”
Since its founding in 1989, Best Doctors has been changing the paradigm of how members experience health care. The company, internationally recognized as the industry-leader, has the most recognized and trusted database representing the best five percent of physicians in over 450 specialties and subspecialties of medicine, as determined by impartial peer review and audited and certified by Gallup®. This collection of the brightest minds in medicine is integral to Best Doctors’ ability to carefully analyze each member’s entire medical history, ask all the right questions, and consult its specialist experts who work with patients’ treating physicians to reach the most accurate diagnosis and treatment recommendations. These steps alone have helped Best Doctors overcome many of the shortcomings in overburdened health care systems around the world.
The Company continues to expand its impressive portfolio of Fortune 500 clients and leading health plans, which represent some of the leading organizations in the nation when it comes to providing the right health solutions for their valued employees and members. These employers offer access to health services provided by Best Doctors as a valued employee benefit that Best Doctors seamlessly integrates with their other health-related benefits.
“Today’s health system is fractured and time-strapped, leaving too many people confused about the right medical decisions as they navigate a giant health care maze,” added Seligman. “Best Doctors and Rise Health have already had a massive impact upon the industry through an emphasis on innovation and a focus on improving health quality and outcomes. Together, we will be able to help employers, workers compensation clients, payers, and providers transform the quality of healthcare they provide while reducing costs.”
Terms of the deal were not disclosed. Financial advisor for Best Doctors was Childs Advisory and legal advisor was Wilson Sonsini Goodrich and Rosati.
About Best Doctors, Inc.:
Best Doctors works with the best five percent of doctors, ranked by impartial peer review, to help people get the right diagnosis and right treatment. Gallup has certified Best Doctors as using the highest industry standards survey methodology and processes in polling physicians to discover the doctors they would choose for their own care. Founded in 1989 by Harvard Medical School physicians, the global health solutions company, which has grown to over 30 million members worldwide, uses state-of-the-art technology capabilities to deliver improved health outcomes while reducing costs. Best Doctors seamlessly integrates its trusted health services with Fortune 1000 employers, insurers and other groups in every major region of the world. For further information, visit Best Doctors at www.bestdoctors.com,
To schedule an interview with Best Doctors’ Executive Team, contact Justin Joseph at Ph: 617.963.1156 or firstname.lastname@example.org.
About Rise Health:
Rise Health provides payers, provider organizations and healthcare information technology partners with the tools necessary to achieve the “Triple Aim” of healthcare: Improve quality, Improve patient outcomes and Lower healthcare costs. Through a vertically integrated product suite that includes Ascend Enterprise Platform, Stratus Population Health Analytics application and Cirrus Patient Relationship Manager, Rise Health offers a complete solution that closes gaps and improves operational processes at the practice. To learn more, visit www.risehealth.com.
BEST DOCTORS, the STAR-IN-CROSS logo, THE REINVENTION OF RIGHT and CRITICAL CARE INTERCONSULTATION are marks or registered marks of Best Doctors, Inc. Used with permission.