ATLANTA and WASHINGTON — LexisNexis® Risk Solutions was recently named a Major Player in the IDC MarketScape: U.S. Provider Data Management 2018 Vendor Assessment. 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:
“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.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com and www.relx.com.
1 IDC MarketScape: U.S. Provider Data Management 2018 Vendor Assessment (doc #US44514018, December 2018)