Data Asset Series
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The Big Picture
Serving customers across the payer, provider, pharmacy, life sciences, and health IT markets, the Health Care business of LexisNexis Risk Solutions uses big data technology, advanced linking capabilities, patented algorithms, and data modeling to deliver industry-specific expertise and customer-focused solutions that help organizations accomplish their goals.
Our mission is to enable the healthcare system to operate efficiently and to create healthier communities. LexisNexis Risk Solutions is committed to using data for good and our healthcare solutions leverage industry-leading consumer, medical claims, and provider data to deliver meaningful insights that improve outcomes and efficiency.
The LexisNexis Risk Solutions Provider Data Intelligence Suite blends thousands of data sources with advanced analytics, technology, and data science to deliver correct, current, and comprehensive data and insights on healthcare practitioners (HCP) and healthcare organizations (HCO) which healthcare and life sciences companies can count on to optimize their provider outreach efforts and meet stringent compliance demands.
Data Capture
LexisNexis Risk Solutions acquires data from over 3,000 different sources to populate and verify the many fields in our Provider Data MasterFile. The MasterFile contains comprehensive information on over 12 million U.S. healthcare practitioners and more than 820,000 organizations. This includes physicians, facilities, business entities, pharmacists, pharmacies, wholesalers, distributors, and ancillary service providers like nurses, labs, DMEs, dental and chiropractic practices. We utilize public sources (state and federal), and private sources (license agreements and partnerships), as well as manufacture our own data (web search, phone calls, emails, faxes, and analytics) to compile “golden” records that customers can count on for accuracy and completeness. Ultimately, our goal is to manage and maintain information about any provider type that could support customer healthcare in the United States.
Correct
LexisNexis Risk Solutions delivers the highest quality healthcare provider data by blending over 3,000 data sources (having an average of 20 verification touch points per provider each month) combined with sophisticated analytics and healthcare expertise.
Current
LexisNexis Risk Solutions provides reliable, up-to-date information by continually updating its Master Provider Referential Database and the analytical science used to create it, and systematically verifying provider data by phone, fax and email, and authority sources data integration.
Comprehensive
LexisNexis Risk Solutions provides a wide array of information—demographics and key identifiers including NPI numbers and credentials—about all types of healthcare providers
Strengths
LexisNexis Risk Solutions is a market leader in data and analytics and a proven partner to 8 of the top 10 payers, thousands of health systems nationwide, and all the top 10 pharmacies based on prescription revenue. Many of our customers use our provider data service offerings due to our unmatched quality, coverage, and completeness. We offer a multichannel verification outreach strategy and a consortium of data from our expansive client base. Our proprietary machine learning linking methodology allows us to aggregate information, scale into unique, detailed provider profiles and deliver with market-leading accuracy.
For the pharmaceutical manufacturers, we provide our customers with current, comprehensive provider data and insights which enable them to make decisions with confidence. Outdated or inaccurate provider data can lead to inefficient business operations, a reduction in profits, and government sanctions. It can also negatively impact access and quality. Although the breadth and depth of our provider data is unmatched, we are vested in making continuous improvements to quality. We know inaccurate provider data can lead to gaps in care due to untimely communications between healthcare providers. We support the healthcare and pharma industries through these challenges by investing in continuous improvement of our extensive data repository. This helps our clients create compliant and operationally efficient processes and improves communication between healthcare providers to enhance care coordination, patient experience, and quality of care.
Best in class Network & Affiliations data
Provider Data MasterFile answers three critical questions about providers for life sciences organizations: Who? What? And Where? Provider Data MasterFile enables life sciences organizations to see and understand complex relationships that answer those three critical questions. These relationships include the connectivity of claims data for a market or therapy area, the connection between HCPs and facilities, and the nature of relationships and hierarchies between HCOs.
Gaps
One of the biggest challenges in big data management is the merging or linking of multiple data sources. Juggling between a variety of vendor inputs, direct updates from providers, federal and state supplied files, rental network rosters, and more can be a nightmare to operationalize and most commonly ends up driving down data quality. We have mastered these challenges through decades of experience receiving, refining, and applying cohesion to disparate data sets. Our linking technology can accurately form a very detailed comprehensive picture of all identities within our database.
It is critically important for our customers to spend some time defining the problem they’re trying to solve and identifying what data they need to solve that problem. Healthcare data is growing exponentially, and it is easy to get lost in the noise. Being diligent about pinpointing the exact data you need will save time and deliver better results. You do not want everything. You want what matters the most to the problem you are intending to solve.
How to Start Exploring
We offer potential customers a proof of value as part of our engagement process. For example, we can review a customer’s existing provider datasets and compare it to ours to identify errors or discrepancies. We’ll share a brief sample of those errors back to the customer as a free proof of concept. Depending on what product or data the customer is interested in, we can also offer a free 30-day license. We offer customized solutions that allow our clients to only buy what they need.
Where do you see healthcare data used by pharmaceutical manufacturers evolving in the next 2 – 3 years?
As pharmaceutical manufacturers continue to deeply engage with their provider clients on innovations that improve patient health, having accurate data about those healthcare providers is essential. Maintaining accurate contact and affiliation information, ensuring providers meet prescriber eligibility requirements, and supporting accurate compliance reporting are key to ensuring strong relationships can continue. By minimizing disruption due to constantly changing healthcare provider data, the provider data suite of products from LexisNexis Risk Solutions is uniquely positioned to support manufacturers grow their business, increase customer engagement, and ultimately improve health outcomes.
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If you are a data vendor and intend to be a part of our Data Asset Series, please get in touch with abhilasha.khullar@chryselys.com
If you want to find how to leverage the best data assets, please get in touch with us at https://chryselys.com/contact/
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