Cloudmed, a provider of revenue intelligence, has acquired Par8o, a healthcare technology company specializing in 340B and patient referral management technology.
The deal will enhance Cloudmed’s 340B discovery services and CloudmedAI platform with Par8o’s machine learning technology. This follows Cloudmed’s series of investments in scalable, advanced technology services for healthcare providers in order to help recover revenue and reimbursement across the revenue cycle.
“Cloudmed can now immediately find value for healthcare providers searching for savings in their 340B program by looking at all prescriptions, including referrals among community-based providers,” said Steve Albert, chief product officer for Cloudmed. “Investments like this in machine learning and automation for our CloudmedAI platform give us greater opportunities to apply our expertise at scale for all of our customers.”
“Through seamless integrations with clients and across multiple EMRs, pharmacies and specialists, par8o uses proprietary machine learning technology to automate processes that find connections between patients and referrals,” said Dr. Daniel Palestrant, CEO of par8o. “That enables us to efficiently drive meaningful cost savings on their behalf with digitally verifiable compliance trails. We’re excited to find more value across more clients as part of the Cloudmed team.”