IDC MarketScape Names LexisNexis Risk Solutions as Major Player in Provider Data Management 2018 Vendor Assessment
Market Intelligence Firm Highlights LexisNexis Risk Solutions for Its High-Quality Provider Data, Inclusion of Personal Provider Data for Accurate Demographic Profiles
LexisNexis Risk Solutions was recently named a Major Player in the IDC MarketScape: U.S. Provider Data Management 2018 Vendor Assessment1. The report evaluated the capabilities, strategies and buyer perceptions of the most prominent vendors found in payers that use the software to establish a “core provider system of record or truth” for the payer enterprise.
LexisNexis Risk Solutions, which serves entities across healthcare and government, is highlighted in the following payer segments:
- Provider Network Information/Relationship Management;
- Risk Identification/Adjustment;
- Workflow/Robotic Process Automation (RPA);
- Provider and Member Identification Management; and
- Data Facilitators.
“LexisNexis Risk Solutions’ commitment to cleansed, quality provider data is outstanding and evident,” said Jeff Rivkin, research director of Payer IT Strategies for IDC Health Insights. “Its presence in dozens of payers, including the vast majority of the top ten, shows its scalability and range. Buyers may consider LexisNexis Risk Solutions when very, very serious about provider data quality.”
The evolving market
According to the IDC MarketScape report, payers are looking for data management solutions in an effort to reengineer and automate their “provider back office.” Provider data, once a reference point, has shifted to a core administrative asset for claims validation, as well as a consumer differentiator. For payers and buyers, clean, high-quality data is vital to the success of data management software solutions and the industry as a whole.
“Quality provider data is essential to keeping our $3 trillion healthcare industry functioning,” said Josh Schoeller, SVP and general manager of the LexisNexis Risk Solutions, Health Care business. “Inefficient, fragmented and uncoordinated processes to managing this information contribute to waste, degraded ability to make decisions and possibly even patient safety concerns. As the industry moves to value-based care, provider data integrity, governance, access, and sharing must be viewed as one strategy. LexisNexis Risk Solutions is at the forefront of this, helping customers build and sustain effective provider data management initiatives.”
The Provider Data Intelligence Suite from LexisNexis Risk Solutions includes products for validation, data cleansing, claims analytics, and personal/provider characteristics leveraging the industry’s most robust referential data, machine learning, and advanced analytics. For more information about its capabilities, visit our website. Access a copy of the report, IDC MarketScape: U.S. Provider Data Management 2018, Vendor Assessment, here.