COLUMBUS, Ga., Sept. 12, 2023 /PRNewswire/ -- Aspirion, a leading technology-enabled healthcare revenue cycle management ("RCM") provider for complex claims and revenue integrity, announced today the acquisition of Infinia ML, Inc. ("Infinia ML"), a leading Artificial Intelligence (AI) and machine learning company. The acquisition of Infinia ML accelerates Aspirion's investment in cutting-edge intelligent automation to advance operational effectiveness, recovery yield, and pace of collections for its healthcare provider clients. Infinia ML will operate as Aspirion's research and development engine focusing on leap-ahead AI capabilities to drive improved financial performance for healthcare providers across the nation.
"Our focus on innovation is key to Aspirion's ability to maximize collections and accelerate revenue recovery for our healthcare system and hospital partners' most challenging receivables. Innovation is core to our organizational structure and culture, from our highly skilled team to our best-in-class workflows powered by our proprietary Compass platform," said Amy Amick, CEO of Aspirion. "Infinia ML brings the preeminent team of data scientists, strategists, and technologists with extensive AI capabilities and a scalable technology platform with a proven track record of success. Combining Infinia ML's expertise with Aspirion's deep RCM experience and market reach, we are uniquely positioned to further elevate revenue cycle performance for our client partners. Our investments to date in AI, machine learning, and robotic process automation have yielded strong value for our clients. The acquisition of Infinia ML builds upon this foundation."
"We are thrilled to join forces with Aspirion. Infinia ML's ability to accelerate its rate of impact through the tailored use of data and focused use cases that come from this partnership will be transformative," said Ya Xue, PhD, Vice President of Data Science and co-founder of Infinia ML. "Prior to the acquisition, Aspirion and Infinia ML engaged in a working partnership that has already garnered positive impacts. The acquisition simply accelerates our ability to create value for Aspirion and its clients."
"AI technology is rapidly evolving and is a critical driver to unlocking new levels of efficiency, innovation, and insight across the healthcare revenue cycle industry," said Spencer Allee, Chief AI Officer, Aspirion. "The expertise, insight, and platform that the Infinia ML team brings will empower Aspirion to harness the full potential of state-of-the-art technology to tackle the most complex revenue cycle challenges."
Nick Giannasi PhD, a world-renowned healthcare data and AI veteran, former Chief AI Officer of Change Healthcare (now Optum) and former Chief Product Officer of Ciox/Datavant, will become the Executive Chairman of Aspirion's AI group and continue as an Aspirion board member. "Some of the most challenging obstacles to getting our healthcare system and hospital clients correctly paid for the life changing work they do for all of us, are due to the difficulty in understanding information buried deeply in complex unstructured documents and systems. The combination of data, position in the workflow, scale, and human expertise that Aspirion brings, paired with the deep experience Infinia ML has in applying AI to understand documents, uniquely positions us to make step function improvements to their revenue cycle."
Aspirion continues to bring significant value to the healthcare market as illustrated by its strong client retention and expansion record, advanced technology acumen, and highly skilled resources. This acquisition marks Aspirion's eighth successful transaction in the past five years and the first acquisition of a technology and innovation-based asset.
Aspirion, headquartered in Columbus, Ga., helps hospitals and physicians recover otherwise lost claims revenue via overturning denials and underpayments, resolving aged AR, and effectively collecting complex claims including motor vehicle accident, workers' compensation, Veterans Affairs and TRICARE, and out-of-state Medicaid. Aspirion's experienced team of healthcare, legal, and technical professionals combined with industry-leading technology platforms help ensure providers receive their Complex RCM revenue so that they can focus on patient care. The Company serves clients across the United States, including half of the ten largest health systems in the country. To learn more, visit www.aspirion.com.
About Infinia ML
Infinia ML helps businesses redefine the possibilities of human potential with advanced machine learning – applying machine learning to knowledge work. Infinia ML's technology generates data liquidity that enables the automation of manual tasks and empowers the discovery of transformative business insights in processed documents. Our algorithms unlock the hidden potential of our clients' data, helping them automate complex processes, enhance employee efficiency, and pioneer transformational breakthroughs. The company's intelligent document processing platform reads, extracts, and comprehends key information from legal records, medical protocols, insurance claims, and more. The platform doesn't just find words on a page – it understands them in the context of visual structure and layout.