BLOG

Payer Analytics: A Crucial Component in Precision Care

Jun 8, 2017

Payer analytics has emerged as one of the most effective tools for arriving at data-driven decisions in the life sciences industry. Traditionally, payers of medical services have had limited access to clinical data which lead to their minimal involvement in cost reduction plans. But with the digitization of health care industry and the emergence of strict medical regulations like ACA, a payer of healthcare services can now have a say in the entire healthcare process.


Are you ready to empower your business with analytics? Request a FREE proposal to learn how Quantzig’s analytics solutions can help you transform your business.


Precision Care – Way Beyond Personalized Care

Though often mistaken as personalized care, precision care is an approach which works towards disease management and prevention. It considers various aspects of the genes, the physical environment, and the lifestyle of the patient to predict prevention strategies and understand appropriate treatment process. Although quite similar to personalized care, precision care makes it a point to involve a greater amount of individual data to arrive at highly tailored health solutions. The very premise of precision care is therefore in contrast to the traditional healthcare approach of “one-size-fits-all” where individual patients are hardly differentiated.

Payer Analytics – Bringing Clinical and Financial Data Together

One of the primary steps towards providing precision care is the integration of clinical and financial data. Through data mining and processing, payer analytics provides in-depth insights on every patient. The result is not just business intelligence, but enhanced inputs on how healthcare services can be improved in a focused manner.

Most healthcare regulatory bodies are now focusing on improved patient outcomes which can be easily measured using information technology. Payer analytics merges AI and predictive analytics to get an in-depth analysis of EHRs, CDSS, and revenue cycles, to provide useful insights on areas which need attention. The data gained through payer analytics makes it easier for healthcare providers and policy makers to drive the needed change in the area of precision medicine.

To know more about payer analytics, speak to our experts.

Industry players like IBM Watson Health, Health Catalyst, and ZeOmega, understand the advantages of payer analytics in delivering better healthcare services. Due to this reason, they are aggressively investing in identifying, assessing, and benchmarking healthcare solutions which will provide precision care without being a financial burden on the patient community.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Emerging Applications of Artificial Intelligence in Medicine

Emerging Applications of Artificial Intelligence in Medicine

The main aim of artificial intelligence in medicine is to mimic human cognitive actions which is directly or indirectly bringing pioneer changes in the field of healthcare. Artificial intelligence in healthcare simplifies the processes of healthcare organizations as...

read more
HR Technology Trends Redefining the Modern-Day Workforce

HR Technology Trends Redefining the Modern-Day Workforce

In 2020, we witnessed rapid changes in workplace structures and business processes amid the pandemic outbreak. Advanced HR analytics solutions proved their potential amid the uncertainties by playing a crucial role in helping businesses understand and engage with a...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.