With new leadership installed since October, including a new CEO and board member, Alivia Analytics is fighting payments fraud in the healthcare sector.
Alivia Analytics is building out expansion plans for its business battling payments fraud in the healthcare sector after obtaining new capital and leadership in recent months.
In conjunction with receiving an investment from two private equity firms last October, the Woburn, Massachusetts-based payment-integrity vendor appointed Michael Taylor as its CEO at that time, and this month tapped Bill Lucia, the former CEO of healthcare analytics technology company HMS Holdings, to serve on its board of directors.
Lucia’s appointment fits for Alivia because HMS is a healthcare analytics and technology company that does what Alivia does, recover fraudulent payments for state and federal health care programs and health insurers. Alivia also appointed Steve Goldberg as chief medical officer in April, adding his experience as the former chief health officer of employee and population health at clinical lab company Quest Diagnostics.
In an interview this month, Taylor noted payment fraud and waste in the U.S. healthcare system at potentially more than $900 billion annually, citing research published in 2019 in the Journal of the American Medical Association.
For its customers, Alivia’s 20 employees use data analytics, machine learning and artificial intelligence to identify fraud and waste.
Early in his career, Taylor was a family physician, and later he worked in venture capital for Health Enterprise Partners, and as a medical director for health insurers Aetna and Optum, a division of UnitedHealth Group. In addition to his executive role at Alivia, Taylor also is the executive chairman of Kermit, a company in Hunt Valley, Maryland, that provides data to physicians and hospitals on implantable medical devices.
In October, Alivia named Taylor its CEO in conjunction with announcing that it had received a capital investment from two private equity firms with which Taylor worked to identify a target for the investment. The private equity firms were New York-based Health Enterprise Partners and Nashville-based Council Capital. A spokesperson for Alivia declined to disclose the amount invested.