Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, has announced that it has acquired Prognos Health’s analytics business underwriting unit to leverage data from the company’s large collection of integrated medical records and lab data via its real-world data marketplace.
The acquisition will enable Gradient AI to expand its medical database capabilities by integrating Prognos Health’s data with SAIL™, Gradient AI’s leading medical underwriting solution. Medical records on 325 million de-identified U.S. patients can be accessed through the Prognos Marketplace.
In addition to retrieving medical and prescription claims data (capabilities Gradient AI already offers), customers will now have access to lab data, which has been a missing factor for many insurers when predicting group risk. According to the Centers for Disease Control and Prevention (CDC), 70% of today’s medical decisions depend on laboratory test results because they are among the best indicators of disease severity and progression.
“We are excited to join forces with Gradient AI to create a next-generation industry leading solution for group health insurance,” said Sundeep Bhan, co-founder and CEO, Prognos Health. “Gradient AI is a clear leader in healthcare analytics underwriting. Prognos looks forward to supporting the rapid innovation at Gradient AI by leveraging the most relevant data from the Prognos Marketplace. With the sale of the underwriting business unit, Prognos will continue to focus on our real-word data marketplace and democratizing data to improve health.”
Interested parties that want to learn more about Gradient AI can contact the company here.
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