ATLANTA — LexisNexis® Risk Solutions has been selected by Healthcare Informatics as an Innovator Award winner for its Socioeconomic Attributes & Risk Score in the Patient Engagement section of the vendor division of its annual competition. According to Healthcare Informatics, the Innovator Awards Program recognizes healthcare leadership teams who have effectively employed information technology to make a difference in their organizations and in the industry at large.
The LexisNexis® Socioeconomic Health Attributes product is a package of socioeconomic attributes derived from several thousand public and proprietary LexisNexis data sources. The attributes are scientifically tested for correlation to healthcare targets and outcomes. The 442 clinically-validated and patient-specific socioeconomic risk modeling attributes relate to social determinants of health (SDOH) including things such as neighborhood and built environment, social and community context, education and economic stability as well as fraud risk.
“Our strategy was to create a set of attributes that are clinically-validated to predict multiple health outcomes that can be used by analytics groups within healthcare organizations and to create scores for those that want a quick, easy way to assess risk without the burden of establishing an analytics shop to handle the data,” said Theresa Wu, director, product management, LexisNexis Risk Solutions. “Socioeconomic data takes predictive modeling to a new level, allowing more meaningful analysis of hospitalizations, emergency visits, pharmacy costs, medication adherence and other aspects of a member’s interaction with the health care system.”
The analysis also includes careful examination of conditions and behaviors that depend on a person’s socioeconomic environment, such as nutritional disorders, depression, anxiety, substance abuse and unnecessary admissions.
With providers today looking to improve patient engagement and minimize unnecessary utilization of the healthcare system, socioeconomic data added to existing patient medical histories can power engagement tools that improve patients’ health while driving stronger health system performance.
The LexisNexis Socioeconomic Health Attributes score is unique, because presently, there is no known SDOH model in the healthcare market that is clinically-validated and focused on exposing specific socioeconomic factors that contribute to an individual’s health risk.
“Our judges were impressed with the ability of leaders at LexisNexis Health Care to provide
socioeconomic attributes that have been clinically validated against health outcomes,” said Mark Hagland, editor-in-chief, Healthcare Informatics. “Their diagnostic scores have been shown to improve accuracy in predicting risk over traditional age/gender models.”
Innovator Awards recipients are selected annually by judges that include members of the Healthcare Informatics editorial advisory board and other national healthcare IT industry leaders.
Our healthcare solutions combine proprietary analytics, science and technology with the industry’s leading sources of provider, member, claims and public records information to improve cost savings, health outcomes, data quality, compliance and exposure to fraud, waste and abuse.
About LexisNexis Risk Solutions
At LexisNexis Risk Solutions, we believe in the power of data and advanced analytics for better risk management. With over 40 years of expertise, we are the trusted data analytics provider for organizations seeking actionable insights to manage risks and improve results while upholding the highest standards for security and privacy. Headquartered in metro Atlanta USA, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com.
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