ConsumerMedical Announces New Health Analytics Partnership to Improve Member Engagement, Care Quality, and Affordability
PEMBROKE, MA, October 26, 2016 — ConsumerMedical, a leading health care decision support and concierge company, announced today strategic partnerships with both Verscend Technologies and Santa Barbara Actuaries Inc. These partnerships will markedly build upon and expand the company’s data analytics capabilities, enhancing its ability to engage members to improve the quality and affordability of their health care. The result will be better health outcomes for members and lower health care spending for employers, plans, ACOs, and other customers of ConsumerMedical.
Verscend (formerly Verisk Health) is a leader in data-driven health care solutions that helps health care organizations like ConsumerMedical perform the clinical, financial, and operational reporting and analysis needed for effective quality and cost management. Santa Barbara Actuaries Inc. is an actuarial and health care consulting firm specializing in cutting-edge predictive modeling and analytics.
The new partnerships will give ConsumerMedical enhanced capabilities including: predictive analytics; cohort analysis allowing for targeted member outreach and engagement; integration of disparate data sources, including medical, pharmacy, financial, disability, network, and expanded clinical, into a single system; and financial ROI reporting capabilities across a broad spectrum of health concierge services.
“Our clients are facing increasing pressure to manage the trajectory of their health care spend while offering competitive benefits and value-added programs,” says David Hines, CEO and founder of ConsumerMedical. “This is a groundbreaking collaboration. Reaching the members who need to make a significant medical decision means we can empower them, improve their health, and also reduce costs for our customers.”
Based on numerous predictive models being developed in collaboration with Santa Barbara Actuaries Inc., ConsumerMedical will enhance its early identification and engagement of members who are in need of medical decision support—those with provider quality gaps and high savings opportunities. This is an opportunity to dramatically raise ROI for ConsumerMedical’s customers.
“At the end of the day, this means we can make sure members get the right clinical care from the best providers that is also consistent with their values and preferences,” says Ian Duncan, President of Santa Barbara Actuaries and Adjunct Professor of Actuarial Statistics at the University of California Santa Barbara.
Verscend’s industry leading data warehousing, online clinical and financial analytics, and comprehensive reporting platform will help Santa Barbara Actuaries Inc. and ConsumerMedical utilize multiple sets of data to improve engagement, support employee decisions, and perform ROI reporting for customers, among other improvements.
ConsumerMedical is a leading health care decision support and concierge company serving approximately 2 million individuals through some of the nation’s largest employers, health plans and private exchanges. As a Medical Ally, ConsumerMedical guides participants throughout their health care journey with compassionate, high-touch support and deep clinical expertise. ConsumerMedical offers a fully integrated suite of solutions including Medical Decision Support, Expert Medical Opinions, Claims Advocacy and more, helping individuals and families navigate the health care system while reducing unnecessary elective surgeries and driving patients to the highest quality providers.
About Santa Barbara Actuaries
Santa Barbara Actuaries is a health care consulting firm that assists its clients in identifying high risk individuals, assessing the impact of medical intervention programs, and optimizing the use of data analytics to drive improved outcomes.
About Verscend Technologies, Inc.
Verscend Technologies (formerly Verisk Health) drives better healthcare outcomes through data analytics. Our payment accuracy, revenue integrity, risk assessment and stratification, and quality improvement solutions help organizations utilize their data so they can efficiently and cost-effectively succeed in the new era of healthcare. Learn more at www.verscend.com.