Thomson Reuters has acquired healthcare benefits auditor and expense management consultants Healthcare Data Management, Inc., effective immediately. Financial terms were not disclosed.
King of Prussia, PA-based HDM will immediately become part of the Healthcare & Science business of Thomson Reuters, headquartered in Ann Arbor, MI. Thomson Reuters said in a media release that the acquisition will enhance its ability to remove healthcare waste, make cost and quality more transparent, and support compliance needs for payers. The acquisition is also expected to strengthen Thomson Reuters' audit and payment integrity capabilities, including medical, prescription drug, provider, eligibility, and plan design.
"Healthcare Data Management brings unmatched expertise in health benefits auditing and expense management reporting solutions," said Jon Newpol, executive vice president at the Healthcare & Science business of Thomson Reuters. "Together, we're poised to meet the increased demand for auditing and compliance due to the Sarbanes-Oxley Act, the healthcare reform law, and an overall focus on eliminating waste from the healthcare system."
Newpol said HDM's BenefitsAudit and BenefitsWatch business lines will allow Thomson Reuters to expand services for employer and government markets. "As a result, our new Audit & Compliance offering will support both retrospective and ongoing assessments of claims data," he said.
HDM was one of the first companies to build model employee health benefit plans and use data to monitor plan performance. The company also provides consultations for self-insured health benefit plans that are managed by plan administrators and pharmacy benefit managers.