Trend Acquires Advent Health Partners to Expand Payments Platform

Trend Health Partners acquired Advent Health Partners to expand the capabilities of its payment accuracy and revenue integrity platform for healthcare payers and providers.

The acquisition will add Advent’s proprietary technology platform, Cavo, to Trend’s existing platform, the companies said in a Friday (Dec. 15) press release.

“Cavo will help us extend our existing platform, TrendConnect, to solve an even broader set of challenges for our payer and provider clients,” Trend CEO Sarah Armstrong said in the release.

Cavo uses artificial intelligence to streamline the review of medical records in denials management, utilization management, itemized bill reviews, diagnosis-related group reviews, and other revenue cycle and payment integrity processes, according to the release.

With the addition of these capabilities to Trend’s AI-driven platform, Trend will integrate clinical and non-clinical data and analytics into a single platform, the release said.

In addition, the combined company will serve more than 50 health plans and nearly 1,000 hospitals, per the release.

Both companies’ solutions aim to improve reimbursement accuracy, reduce administrative costs, and foster collaboration and transparency between payers and providers, the release said.

AI use cases targeting administrative burden and operational efficiency in the healthcare industry come as no surprise, given that the industry is coming off a year marked by both labor shortage issues and physician and nurse burnout, PYMNTS reported in September.

For example, the CEO of health technology company and insurance platform Oscar Health, Mark Bertolini, said during an earnings call: “We expect to drive further administrative cost savings from … overall efficiencies from our technology.”

The generative AI market for healthcare, which was valued at more than $1 billion in 2022, is projected to reach nearly $22 billion by 2032, according to “Generative AI Can Elevate Health and Revolutionize Healthcare,” a PYMNTS and AI-ID collaboration.

Meanwhile, healthcare companies — including providers, payers, pharmaceutical companies and others — recognize generative AI’s potential to transform health and medicine and are teaming up with tech giants and startups to introduce cutting-edge AI technology to all aspects of care — from research to treatment to billing.