SANTA CLARA and ATLANTA — Based on its recent analysis of the US healthcare data analytics market, Frost & Sullivan recognizes LexisNexis® Risk Solutions with the 2019 US Innovation Excellence Frost Radar Award. The company leverages an advanced analytics architecture that leverages unique data assets including social determinants of health, claims, and provider data to facilitate decision making that impacts operational efficiency, compliance, growth strategies and patient engagement. This innovation has enabled the company to establish a strong footprint across the healthcare ecosystem.
"A part of RELX, LexisNexis Risk Solutions is a leading data analytics and technology company offering services to multiple industry sectors, including healthcare. It has established a competitive advantage with its demonstrated abilities to reduce financial risk, enable regulatory compliance, increase patient engagement, and optimize outcomes for a diverse set of US clients," said Koustav Chatterjee, Industry Analyst, Frost & Sullivan. "Its healthcare clientele covers the entire healthcare ecosystem, including payers, providers, pharmacies, and pharmaceutical companies."
The LexisNexis Risk Solutions Health Care business has pioneered social determinants of health analytics with its Socioeconomic Health Score solution, which helps healthcare organizations understand health barriers and risk more holistically with the goal of improving care management and patient engagement outcomes. It also pioneered the Enterprise Master Patient Index approach with its LexID® solution, which matches patient records and provides a persistent key that follows a patient identity throughout its evolution and journey.
Furthermore, the company supports large healthcare enterprises with its VerifyHCP® product, which manages provider information accuracy and attestations feeding provider directories. “Following the success of these technologies, the LexisNexis Risk Solutions Health Care business is well-positioned to introduce consumer-centric analytics tools that automate payer and provider decisions impacting operations, compliance and most importantly the overall patient experience,” noted Chatterjee.
The Innovation Excellence best practice is bestowed upon companies that are industry leaders reinventing themselves through R&D investments and innovation. These may be companies that are entering a new market and contend for leadership through heavy investment in R&D and innovation.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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.