Market Data Analytics Buyer’s Guide

 

Are you considering a healthcare claims data solution for healthcare business planning and strategy?
Here’s how to make sense of the options. 

The LexisNexis® Risk Solutions Market Data Analytics Buyers Guide equips healthcare executives with a clear framework for procuring and using healthcare claims data analytics to drive strategic decisions. It speaks to the how, what, and why of the data analytics procurement process and helps buyers purchase the right high-quality data product(s) that align with organizational goals. Featuring specific and practical descriptions and real-world use cases, the guide empowers readers to make informed purchases and maximize the value of healthcare analytics. 

 Market Data Analytics Buyer's Guide Highlights 

 Adapting to the Shifting Healthcare Landscape 

The healthcare industry is undergoing rapid transformation, forcing healthcare organizations to rethink pricing strategies, resource allocation, and patient access models. As executives adapt to these market shifts, healthcare claims data analytics have emerged as essential tools for informing business planning and commercial strategies. 

Using Healthcare Claims Data Analytics for Strategic Planning 

External market data can fill gaps left by internal data, offering insights into patient behaviors, provider activities, and care settings. Market insights from claims data supports informed decision-making, enabling healthcare leaders to align strategies with long-term goals and market dynamics. 

Healthcare claims data analytics can shed light on commercial considerations for organizations launching new therapies or entering new markets. For healthcare organizations, healthcare claims data analytics can help identify trends for proactive planning to align with the evolving needs of patients, providers, and payers. 

Procuring Healthcare Claims Data: Informing Your Purchase Decision 

Selecting the right healthcare claims data is critical to developing effective strategies, whether for a healthcare provider organization or commercial enterprise. However, with numerous vendors offering similar products, the procurement process can be complex and fraught with challenges. To make informed choices, a thoughtful approach is required.  

This guide highlights critical questions for evaluating claims data vendors, starting with a clear understanding of an organization’s objectives. Key considerations include: 

• Types of claims—open/submitted, open/remitted and closed
• Scope of coverage—representation of multiple payers and diverse care settings 
• Data quality—data linking and deduplication 
• Interface delivery—user-friendliness, integration with existing systems, vendor support

To help you navigate these issues, this guide concludes with a purchase decision checklist, 10 Questions to Ask When Choosing the Right Claims Data Solution  

Download the Market Data Analytics Buyer’s Guide and take an informed approach to choosing your next claims data solution.