The acquisition will secure Trend as a key AI-driven payment accuracy and revenue integrity platform for both healthcare providers and payers, according to a Dec. 15 Trend press release.
Advent’s team of software developers, clinical experts, and data scientists have worked to create a proprietary technology platform called Cavo.
The platform streamlines the review of medical records in revenue cycle through the use of artificial intelligence. It also uses AI to streamline payment integrity processes like denials management, utilization management, DRG reviews, and itemized bill reviews.
Trend’s acquisition of Advent will serve more than 50 health plans and around 1,000 hospitals, the release said.
“We are incredibly proud of what the Advent team has accomplished over the past decade, and of the significant value that we have delivered to our clients. We couldn’t be more excited to partner with the team at Trend and continue building on that legacy,” Mark Thienel, CEO of Advent, said in the release.
Los Angeles-based Lone View Capital, a private equity firm that has backed Trend since 2022, is supporting the acquisition with a follow-on investment.
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