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Abacus Insights recently announced that it is rolling out a suite of products that will “revolutionize” how payers in the healthcare space can leverage healthcare data for faster and better decision-making.
The data infrastructure products draw on the firm’s data transformation platform, the only such platform built specifically for payers. The platform aims to solve many data headaches facing payers, including collecting, integrating, validating, and standardizing data from disparate internal and external systems, sources and formats.
“Our platform is focused on making high-quality data available at optimal latency to accelerate business value for both analytical and operational use,” company CEO and founder Minal Patel told VentureBeat. “Our data management products are a leap forward in data usability, because we sort, bundle and continually update validated, transformed data to serve the needs of specific payer business functions and strategic initiatives.”
Healthcare data solutions for payers
Abacus Insights currently has three data products in market:
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CMS Interoperability Solution enables compliance with the Centers for Medicare and Medicaid Services’ requirements for interoperability for patient access. Risk Adjustment Solution improves risk adjustment accuracy while simplifying the complex process for government-sponsored and commercial ACA plans.Clinical Data Solution integrates clinical data with core administrative and health equity data into longitudinal member and patient records to provide a holistic view of the care journey.Over the next few months, Patel said the company will roll out data integration products to support:
Self-funded employersPharmacy/specialty benefit managementBehavioral healthCost-of-care managementTelehealthPayer priorities drive features in new product development
Abacus Insights’ products are essential building blocks that ladder up to top payer priorities, including enhancing member experience, controlling costs and improving health outcomes, Patel explains. They do so by taking volumes of data and making it eminently and immediately useab …