HIX Analytics: 5 Steps Toward Real-Time Visibility

On its own, healthcare is creating a data deluge, and analytics are evolving fast to bring value to many domains. Different solutions are required to be successful in the upcoming commercial health insurance exchanges (HIX) in which high-quality coding of diagnosis data becomes the currency for payment. 

Analytical tools — if used properly and understood well — can bring meaning and context to “big data” by allowing users to create personalized reports and visualizations. In the context of HIX, analytical tools can identify health claims that are improperly coded. The result: Data can be improved before the final transfer payments between participating plans results in substantial financial losses.

But how can payers pry open the lid of their analytics and uncover the performance of their algorithms, associations, and business rules?

The answer is to take important steps toward real-time visualization and reporting of results to achieve the deepest insight into the behaviors, symptoms, and treatment of their population. Only with comprehensive member profiles can they achieve improved precision and lower the cost of interventions.