Quest Analytics Acquires BetterDoctor to Create First Health Plan Platform

Quest Analytics, the leading provider of network access and adequacy services to health plans and insurance regulatory agencies, today announced that it has acquired BetterDoctor, the nation’s most accurate provider data management platform. Together, the companies will provide the first comprehensive platform that enables health plans to optimize their member experience while complying with federal and state regulations for network adequacy and accuracy. Terms of the transaction were not disclosed. Today, healthcare costs in the US are spiralling. As a result, health plans are narrowing the size of their provider networks to keep premiums affordable. Federal and state insurance regulators have subsequently enacted network adequacy and provider data accuracy regulations to ensure plan members have convenient and timely access to physicians and hospitals. The combination of Quest Analytics’ network decision-support tools and BetterDoctor, the only primary-source verified provider data management platform, will enable health plans to provide their members with convenient access to an adequate network of doctors and hospitals and an up-to-date, accurate directory of network providers.

“Narrow networks compound the issue of inaccurate provider data and pose substantial challenges to health plan members seeking the right doctor, hospital and care for themselves and their families,” said Roger Holstein, Executive Chairman, Quest Analytics. “Quest Analytics offers an unprecedented solution for health plans seeking to improve their member experience.” “Recent CMS audits have found that the majority of Medicare Advantage health plan provider directories were 30 to 60 percent inaccurate,” said John Weis, co-founder and President, Quest Analytics. “Today, we can solve that problem. Because the BetterDoctor provider data management platform is 100 percent primary source verified by the providers themselves, we deliver the most accurate source of data that our 300 health plan customers can depend upon to solve this problem for plan members.” “Quest Analytics recognizes that network adequacy and accuracy are inextricably linked,” said Ari Tulla, co-founder of BetterDoctor and Chief Executive Officer, Quest Analytics. “Together, we will help health plans address two of the biggest issues facing health plans today: accessible networks and accurate provider directories for their members and compliance with federal and state requirements.”

Charles Boorady, founding managing director, Health Catalyst Capital, will also join the Quest Analytics Board. He commented, “Health plans are under intense pressure. Quest Analytics can substantially improve the member experience, help eliminate surprise billing, and make member-facing mobile applications more user friendly. These improvements can have meaningful impact on advancing the quality of care in the US.” The combined company will operate under the Quest Analytics brand. As part of this transaction, Ari Tulla, co-founder of BetterDoctor, will bring his deep background in technology and platform development to become Chief Executive Officer of Quest Analytics. John Weis, co-founder of Quest Analytics, will serve as President of the company, where he will continue to lead customer and product strategy to help health plans build innovative solutions to meet their evolving needs. Vestar Capital Partners, which acquired Quest Analytics in August 2017, and Health Catalyst Capital, which first invested in BetterDoctor in April 2017, financed the investment. – Medical Buyer Bureau