IRVING, Texas – HMS Holdings Corp. (the “Company” or “HMS”) (NASDAQ: HMSY), a leading provider of coordination of benefits, payment integrity and member health management solutions for payers, has completed the previously announced acquisition of Eliza Corporation (“Eliza”).
Eliza is a cloud-based platform which provides comprehensive and personalized outreach and health engagement solutions to improve quality of care and clinical outcomes. It utilizes sophisticated communication techniques and proprietary predictive analytics, behavioral science and data-driven design methodologies to achieve targeted outcomes for customers and their members.
Eliza has 70+ customers, including eight of the top ten health plans in the U.S. Their health engagement analytics and services successfully integrate proprietary data assets, a deep understanding of the healthcare consumer, and multi-channel outreach and technology to deliver desired results for health plans, PBMs, home health agencies and disease management companies. The Eliza solution suite helps target gaps in care and provides tools to pursue appropriate condition management; raise quality scores; improve cost savings; and increase wellness, preventative care, medication adherence, member satisfaction and retention. For additional information, see: http://www.elizacorp.com.
“We view member outreach and engagement as a natural extension of the work we have done historically, and an opportunity to leverage both the Essette care management platform we acquired last fall and the data assets and analytics we have built over the years in the cost-containment arena,” said Bill Lucia, HMS Chairman and CEO. “We also know our customers want to deal with fewer service providers for a variety of reasons, including to reduce the risk of data breaches and the abrasion associated with hiring multiple vendors for member interactions. With our existing HiTrust certification, we expect there will be heightened interest in the combined solutions we can now offer for coordination of benefits (COB), payment integrity (PI), health management and patient engagement – all services impacting both costs and revenue for risk-bearing entities.”
“We enthusiastically welcome the Eliza team into the HMS family and look forward to taking advantage of our newly acquired capabilities, which enhance our capacity to bend the healthcare cost curve on behalf of customers,” added Lucia.
“Effective member outreach and engagement are tools applicable across the entire HMS customer base – from commercial at-risk and ASO populations to those in Medicare and Medicaid. Eliza has built best-in-class solutions designed to deliver a consistent consumer experience – utilizing digital design to personalize content, motivate members, drive ideal behaviors and reduce costs. We have consistently found that mastering the intricacies of engaging consumers is key to improving health outcomes and reducing expenditures, particularly for the 5% of the population that account for roughly 50% of healthcare spending,” said John Shagoury, Eliza President and CEO.
“This acquisition represents a significant broadening of the total addressable market for HMS services, as we add to our capacity to assist customers with solutions they can utilize to better manage the health of their members. We believe this broader suite of services, to be sold as part of a third business vertical established with the acquisition of Essette, is a natural complement to our core COB and PI product offerings and will increase opportunities to cross-sell into our expansive customer base. We are also expanding that base, as a meaningful portion of Eliza revenue is generated from PBMs. Our initial sales focus will be commercial health plans and provider owned plans, but we expect there will be interest in the Essette and Eliza product suite from our state customers as well,” said Jeff Sherman, HMS CFO.
HMS Holdings Corp., through its subsidiaries, provides coordination of benefits, payment integrity, and health management and engagement solutions for payers. HMS serves state Medicaid programs; commercial health plans, including Medicaid managed care, Medicare Advantage and group and individual health lines of business; federal government health agencies, including the Centers for Medicare & Medicaid Services and the Veterans Health Administration; government and private employers; child support agencies; and other healthcare payers and sponsors. As a result of HMS’s services, customers recover billions of dollars annually and save billions more through the prevention of improper payments.
Eliza is a healthcare engagement management solution capable of delivering a truly personalized conversation with the modern healthcare consumer at an enterprise scale. It is why eight of the top ten health plans in the United States are Eliza’s clients—their unified approach gets members to act, and their Health Engagement Management solutions deliver effective results. Eliza integrates a scalable, multi-channel technology platform, along with proprietary data sources, industry-leading analytics, and experience-driven program design services to deliver outcomes that matter. Eliza builds upon each interaction to help clients drive outcomes such as improved HEDIS and Star ratings, increased medication adherence, reduced membership ‘churn’ and greater member satisfaction. For more information, visit www.elizacorp.com.