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Tuesday, September 21, 2021

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HomeACQUISITIONS and MERGERSIodine Software Acquires Artifact Health

Iodine Software Acquires Artifact Health

Iodine Software, a leading healthcare AI company, today announced it has acquired physician engagement platform company Artifact Health.

The acquisition brings together two industry leaders and expands Iodine’s clinical predictions and insights platform beyond clinical documentation improvement (CDI) teams to directly engage physicians through Artifact’s HIPAA-compliant mobile platform.

Iodine Software experienced rapid growth over the last decade by applying its CognitiveML Engine to solve mid-revenue cycle leakage — a problem that costs healthcare systems billions in lost revenue due to resource-intensive, highly manual clinical documentation workflows. More than 500 hospitals and health systems using Iodine report significant improvements to quality scores and increase earned-revenue capture. Today’s acquisition announcement signals Iodine’s commitment to expand its machine-learning technology to broader healthcare workflows.

Artifact Health is a pioneer of physician-centric CDI and coding workflow solutions. In 2016, Artifact collaborated with Johns Hopkins Medicine to help develop a cloud-based mobile platform that makes it faster and easier for healthcare providers to respond securely and compliantly to questions about patient documentation. Artifact seamlessly integrates with core healthcare systems, including all major electronic health record systems, to ease administrative burdens on healthcare providers and give them back valuable time for patient care. Artifact’s mobile platform is currently deployed to more than 80,000 healthcare providers at more than 200 hospitals.

“Artifact allows us to immediately improve the documentation experience for physicians,” said William Chan, CEO and co-founder of Iodine Software. “The acquisition also allows us to realize our vision of delivering a broader set of our machine-learning predictions directly to physicians.”

Iodine selected Artifact for its flexible technology, mobile delivery and seamless EHR workflow integration, which produce demonstrably better physician satisfaction and engagement. By adding Artifact’s mobile-based platform to Iodine, healthcare organizations can now automate physician queries and other administrative tasks that require more complex clinical judgment while delivering them directly to physicians’ mobile devices. Together, Iodine and Artifact deliver a powerful mid-revenue cycle solution that improves documentation integrity and ensures proper reimbursement so healthcare systems maintain long-term financial resiliency.

“Over the past seven years, Artifact Health has built a solid reputation for streamlining and standardizing the physician query process with efficient, convenient and easy-to-use technology that physicians find enjoyable to use,” said Marisa MacClary, CEO and co-founder of Artifact Health. “Iodine and Artifact share the same mission to design innovative healthcare technologies that improve patient care by reducing administrative burden. We are thrilled to join an outstanding company with superior technology and an amazing team.”

The full Artifact team will join Iodine Software immediately. Moving forward, the combined Iodine-Artifact team will continue delivering innovative machine-learning predictions that engage caregivers at their convenience. Ultimately, the combined companies will help healthcare organizations achieve their desired financial, operational, and quality outcomes.

Artifact CEO Marisa MacClary will join Iodine as Executive Vice President, Artifact, and will lead the Artifact platform.

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Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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