Pittsburghs UPMC has made a "significant" investment in Health Fidelity, a San Mateo, Calif.-based developer of a risk adjustment platform that leverages natural language processing technology to mine unstructured data.
Health Fidelity executives said the organizations partnered in 2014 to complete development of this technology, which "significantly enhances operational efficiency and compliance management." The companies say they are now collaborating to innovate on additional use cases. The amount of the investment was not revealed.
"With UPMC's strategic investment in the company, Health Fidelity is accelerating the introduction of risk adjustment and other value-based care solutions to the market," company executives said in a statement.
Health Fidelity's NLP and analytics capabilities allow users to make use of 70 to 80 percent of available clinical data, much of it in unstructured formats, according to the company. Typically, analytics platforms unable to mine unstructured data can use only 20 to 30 percent of the available clinical data.
"By collaborating with the clinical and technology experts at UPMC, Health Fidelity is able to offer the most comprehensive, scalable solution on the market for perfecting the risk adjustment cycle," said Mary Beth Jenkins, chief operating officer of UPMC Health Plan and UPMC WorkPartners. "It's an innovative technology that has delivered measurable results to UPMC Health Plan, seamlessly integrating with existing risk adjustment processes to deliver results while improving compliance and process efficiencies."
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