BetterDoctor Merges with Quest Analytics
Health Catalyst Capital Management, LLC (“HCC”)is pleased to announce that its portfolio company BetterDoctor, Inc., a leading provider data management platform, this summer was merged into Quest Analytics, the leading provider of network access and adequacy services to health plans and insurance regulatory agencies. Together, the companies will provide the first comprehensive platform that enables health plans to optimize their member experience while complying with federal and state regulations for network adequacy and accuracy.
The combination of Quest Analytics’ network decision -support tools and BetterDoctor, a leading primary -source verified provider data management platform, will enable health plans to provide their members with convenient access to an adequate network of doctors and hospitals and an up-to-date, accurate directory of network providers.
“Quest Analytics recognizes that network adequacy and accuracy are inextricably linked,” said Ari Tulla, co -founder of BetterDoctor, who was named as Chief Executive Officer, Quest Analytics. “Together, we will help health plans address some of the biggest issues facing health plans today: accessible networks, accurate provider directories, and compliance with federal and state requirements.
Charles Boorady, founding managing director, HCC, has joined the Quest Analytics Board. He commented, “Health plans are under intense pressure. Quest Analytics can substantially improve the member experience, help eliminate surprise billing, and make member-facing mobile applications more user friendly. These improvements can have meaningful impact on advancing the quality of care in the U.S.”
HCC believes that considerable economic benefits will result from the Quest -BetterDoctor combination. Because the BetterDoctor provider data platform is verified by the providers themselves, the combined company can deliver the most accurate source of data to its 300 health plan customers to solve this problem for their members.
HCC is a thematic investor, and its investment in Quest -BetterDoctor has been its largest investment in its theme of Patient Navigation, Network and Referral Management. HCC looks forward to further developing its investment themes and unearthing more opportunities in the future.
About Quest Analytics
Quest Analytics is the first comprehensive platform that enables health plans to optimize their member experience, while complying with federal and state regulations for network adequacy and accuracy. Our provider data management and network analytics services are trusted by the nation’s leading health plans, insurance regulatory agencies and benefit consultants to provide consumers with convenient access to an adequate network of doctors and hospitals and an up-to-date, accurate directory of providers.
About Health Catalyst Capital
Health Catalyst Capital Management, LLC (“HCC”) is an independent private equity firm that advises with respect to investments primarily in venture to growth stage healthcare information technology and technology-enabled services businesses including artificial intelligence, genomic data analytics and informatics. HCC was formed by a team of experienced healthcare investors and operators seeking profitable investment opportunities, while at the same time seeking to improve the human condition and promote value-based care. Health Catalyst Capital, L.P. invested in BetterDoctor as part of its systematic review of companies developing technologies related to Patient Navigation, Network and Referral Management. HCC remains active in this investment theme and others.
HCC seeks investment opportunities primarily in the investment themes related to Genomics / Personalized Medicine, Patient Navigation, Referral Management, Value-based Care and Aging in Place.HCC’s investment process typically proceeds as follows:
- HCC identifies an investment theme, and investigates companies in or close to it
- After investigating investment opportunities within that theme, invest early with a leader
- Reserve for follow-on investment
- Pursue strategic alternatives / corporate combinations to accelerate growth.
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BetterDoctor Merges with Quest Analytics