Abacus promises 'game-changing' new healthcare data products for payers
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Abacus Insights recently announced the rollout of a suite of products that will "revolutionize" how healthcare payers can leverage healthcare data for faster and more effective decision-making.
>Data infrastructure products are built on the company's Data Transformation Platform, the only platform of its kind designed specifically for payers. The platform aims to solve many data problems faced by payers, including the collection, integration, validation and standardization of data from disparate internal and external systems, sources and formats.
>“Our platform is focused on delivering high-quality data with optimal latency to accelerate business value for both analytical and operational use,” said Minal Patel, CEO and Founder of the company, to VentureBeat. “Our data management products are a leap forward in data usability as we continuously triage, aggregate and update validated and transformed data to meet the needs of specific business functions and payer strategic initiatives.”
Healthcare data solutions for payersAbacus Insights currently offers three data products on the market:
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register here The CMS interoperability solution helps meet Centers for Medicare and Medicaid Services interoperability requirements for patient access. The risk adjustment solution improves the accuracy of risk adjustment while simplifying the complex process of government-sponsored and commercial ACA plans. The clinical data solution integrates clinical data with core administrative and health equity data in longitudinal member and patient records to provide a holistic view of the care journey.Over the next several months, Patel said the company will be rolling out data integration products to support:
Self-funded employers Management of pharmacy/specialty services Behavioral health Cost of care management Telehealth Payer Priorities Drive Features in New Product DevelopmentAbacus Insights products are critical building blocks that address major payer priorities, including improving the member experience, controlling costs, and improving health outcomes, explains patel. They do this by taking volumes of data and making it eminently and immediately usable by identifying and aggregating timely, complete and accurate data to enable business units to manage and optimize their operations.
“Adjust to risk. To ensure appropriate resources for seniors, children, and other members with high needs in Medicare, Medicaid, and the Affordable Care Trade Act, health plans must conduct accurate assessments of each member's health status and forecasting projected member costs through the risk adjustment process,” notes Patel. “This requires accurate, timely, and comprehensive data that is continuously updated Reimbursement from risk-adjusted plans represents up to one-third of a payer's annual earnings.”
Yet this critical function is becoming increasingly complex and challenging due to underlying health data challenges, says Patel. These challenges include:
Integrate disparate payer sources, including claims, eligibility, case files, and notes at scale, which are presented in various legacy formats, systems, and platforms. Incorporating external electrical data...
Couldn't attend Transform 2022? Check out all the summit sessions in our on-demand library now! Look here.
Abacus Insights recently announced the rollout of a suite of products that will "revolutionize" how healthcare payers can leverage healthcare data for faster and more effective decision-making.
>Data infrastructure products are built on the company's Data Transformation Platform, the only platform of its kind designed specifically for payers. The platform aims to solve many data problems faced by payers, including the collection, integration, validation and standardization of data from disparate internal and external systems, sources and formats.
>“Our platform is focused on delivering high-quality data with optimal latency to accelerate business value for both analytical and operational use,” said Minal Patel, CEO and Founder of the company, to VentureBeat. “Our data management products are a leap forward in data usability as we continuously triage, aggregate and update validated and transformed data to meet the needs of specific business functions and payer strategic initiatives.”
Healthcare data solutions for payersAbacus Insights currently offers three data products on the market:
EventMetaBeat 2022
MetaBeat will bring together thought leaders to advise on how metaverse technology will transform the way all industries communicate and do business on October 4 in San Francisco, CA.
register here The CMS interoperability solution helps meet Centers for Medicare and Medicaid Services interoperability requirements for patient access. The risk adjustment solution improves the accuracy of risk adjustment while simplifying the complex process of government-sponsored and commercial ACA plans. The clinical data solution integrates clinical data with core administrative and health equity data in longitudinal member and patient records to provide a holistic view of the care journey.Over the next several months, Patel said the company will be rolling out data integration products to support:
Self-funded employers Management of pharmacy/specialty services Behavioral health Cost of care management Telehealth Payer Priorities Drive Features in New Product DevelopmentAbacus Insights products are critical building blocks that address major payer priorities, including improving the member experience, controlling costs, and improving health outcomes, explains patel. They do this by taking volumes of data and making it eminently and immediately usable by identifying and aggregating timely, complete and accurate data to enable business units to manage and optimize their operations.
“Adjust to risk. To ensure appropriate resources for seniors, children, and other members with high needs in Medicare, Medicaid, and the Affordable Care Trade Act, health plans must conduct accurate assessments of each member's health status and forecasting projected member costs through the risk adjustment process,” notes Patel. “This requires accurate, timely, and comprehensive data that is continuously updated Reimbursement from risk-adjusted plans represents up to one-third of a payer's annual earnings.”
Yet this critical function is becoming increasingly complex and challenging due to underlying health data challenges, says Patel. These challenges include:
Integrate disparate payer sources, including claims, eligibility, case files, and notes at scale, which are presented in various legacy formats, systems, and platforms. Incorporating external electrical data...What's Your Reaction?
