With the move, Olive plans to concentrate on improving the financial health of healthcare organizations through its prior authorization, patient access, financial clearance and claims management products.
Olive has more than 200 health system and provider clients. The company said they will not be affected by the sale, as utilization management operated as its own business unit with its own staff.
“The utilization management product we created at Olive is a powerful demonstration of the power of artificial intelligence to transform healthcare,” Olive CEO Sean Lane said in an April 10 news release. “As Olive continues its strategic realignment toward automated revenue cycle solutions for health systems, we will continue delivering game-changing solutions through our AI-powered automation and intelligence products.”
The company has been downsizing since last summer.
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