Cloudmed Acquires Par8o, Advances 340B Discovery Capabilities For Healthcare Providers

This acquisition extends Cloudmed’s 340B Discovery solution and elevates the CloudmedAI technology platform to deliver more value across the revenue cycle.

Revenue Intelligence™ leader Cloudmed has acquired par8o, an innovative healthcare technology company specializing in 340B and patient referral management technology for healthcare providers.

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This acquisition advances the capabilities of Cloudmed’s 340B Discovery Services and elevates its CloudmedAI platform with par8o’s sophisticated machine learning technology. This is the latest in a series of Cloudmed investments in scalable, advanced technology solutions that help healthcare providers recover more revenue and reimbursement across the entire revenue cycle.

“Cloudmed can now immediately find value for healthcare providers searching for savings in their 340B program by looking at all prescriptions, including referrals among community-based providers,” said Steve Albert, Chief Product Officer for Cloudmed. “Investments like this in machine learning and automation for our CloudmedAI platform give us greater opportunities to apply our expertise at scale for all of our customers.”

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“Through seamless integrations with clients and across multiple EMRs, pharmacies and specialists, par8o uses proprietary machine learning technology to automate processes that find connections between patients and referrals,” said Dr. Daniel Palestrant, Chief Executive Officer of par8o. “That enables us to efficiently drive meaningful cost savings on their behalf with digitally verifiable compliance trails. We’re excited to find more value across more clients as part of the Cloudmed team.”

Cloudmed partners with over 3,100 healthcare providers in the United States and recovers over $1.5 billion of underpaid or unidentified revenue for its clients annually. We are unique in our ability to utilize industry-leading expertise and the powerful CloudmedAI™ Platform to help providers boost productivity and increase revenue.

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