Milliman announces acquisition of healthIO
Milliman, Inc., a global consulting and actuarial firm, announced the acquisition of health technology startup healthio, and the launch of Milliman healthIO, an innovative combination of Milliman’s predictive health analytics and healthIO’s preventive health technology. This product offering aims to make healthcare preventive, predictive and participative. It focuses on the healthcare consumer and their health advocacy group, to acquire longitudinal data on the consumer during the many hours that they spend away from the healthcare system. Algorithmic analysis of this data pattern allows for prediction of high cost health events as well as early involvement of health advocacy groups in the care of the consumer.
Located in Brookfield, WI, healthIO provides preventive health monitoring for employers and capitated healthcare providers and has strong synergy with Milliman’s predictive analytics capabilities to target rising-risk and high-risk individuals. Milliman Principal Brian Studebaker believes the acquisition of healthIO by Milliman is well timed.
“We couldn’t be more excited about acquiring healthIO,” states Mr. Studebaker. “Having already deployed healthIO together with Milliman in our home state of Wisconsin, we have seen the raw potential of this model. We anticipate steady expansion as the word gets out about the dramatic impact preventive health can have on any organization’s bottom line.”
Milliman President, CEO Stephen White adds, “healthIO brings a preventive monitoring solution that allows Milliman to act upon our expertise in risk profiling and stratification of employees and patients – then fine-tune this stratification over time on an individual basis. With healthIO we have the ability to operationalize our AI and analytics in a very meaningful and measurable way, benefiting our clients, their employees, members, and patients. healthIO is an ideal complement to our consulting services, and we are delighted they are now a part of Milliman.”
Sanjay Mohan – healthIO’s CEO and Founder – will continue as Managing Director of the new business unit. “We are extremely excited to be a part of Milliman and to be able to leverage the synergies with their world class data science and actuarial capabilities to better target and deploy our preventive solutions,” says Mr. Mohan. “This is really a perfect match – employers and value-based providers will benefit from the combined power of our solution to lower costs and improve health outcomes.”