Milliman, the global consulting and actuarial firm, has acquired health technology startup healthIO, and launched Milliman healthIO, combining its predictive health analytics with healthIO's preventive health technology.
Milliman healthIO is intended 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 periods spent away from the healthcare system. These data are analysed using algorithms to make predictions and deliver improved outcomes for patients.
Brian Studebaker, principal at Milliman, said the acquisition is well timed. "Having already deployed healthIO together with Milliman in our home state of Wisconsin, we have seen the raw potential of this model,” he said. “We anticipate steady expansion as the word gets out about the dramatic impact preventive health can have on any organisation's bottom line."
Stephen White, Milliman’s president and chief executive, added: "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 operationalise our AI and analytics in a very meaningful and measurable way.”
The platform is an ideal complement to Milliman’s consulting services, White added.
Sanjay Mohan, chief executive and founder at healthIO, serves as managing director of the new business unit. The partnership allows healthIO to leverage the synergies between the two companies, with Milliman providing “world class data science and actuarial capabilities to better target and deploy our preventive solutions,” Mohan said.
Milliman, healthIO, Brian Studebaker, Stephen White, Sanjay Mohan