Gradient AI now provides medical, prescription and lab data. Credit: vjohns1580 from Pixabay.

Gradient AI, which provides artificial intelligence (AI) solutions to the insurance industry, has purchased the healthcare analytics business unit from Prognos Health.

Gradient AI hopes to enhance its medical underwriting offering through the acquisition, which gives its access to integrated medical records and lab data.

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The insurance technology vendor plans to integrate Prognos Health’s data with its medical underwriting solution, SAIL.

The integration is expected to enable access to medical records on 325 million de-identified US patients via the Prognos Marketplace.

Gradient AI, which already provides medical and prescription claims data, will now be able to provide lab data to insurance providers, aiding them in making more informed decisions.

Gradient AI founder and CEO Stan Smith said: “Our combined solution will provide a holistic picture of group health risk that has never before been possible. Insurers will now have a single point of access to multiple data sources, covering medical, prescription and lab data improving their abilities to project group health assessments and costs with much greater confidence.”

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As part of expansion plans, Gradient AI aims to provide information from Electronic Health Records (EHRs) and claims-based patient population data.

Prognos Health co-founder and CEO Sundeep Bhan said: “Gradient AI is a clear leader in healthcare analytics underwriting. Prognos looks forward to supporting the rapid innovation at Gradient AI by leveraging the most relevant data from the Prognos Marketplace.

“With the sale of the underwriting business unit, Prognos will continue to focus on our real-world data marketplace and democratizing data to improve health.”