New AI Platform by Prognos Transforms Member Lab Data for Payers
The only end-to-end platform able to handle all of the lab data and analytic needs for health plans
NEW YORK, NY–(Marketwired – May 10, 2017) – Prognos, an innovator in applying artificial intelligence (AI) to lab results, announces Prognos DxCloud, a HIPAA-compliant, cloud-based platform serving as a single source for lab data results on all members. Prognos’s end-to-end cloud platform solution is uniquely focused on gaining comprehensive access to lab data while transforming clinical lab results in order to more easily solve health risk and quality challenges. Prognos DxCloud drives a suite of analytic solutions that identifies risk, improves clinical outcomes, and reduces medical costs while allowing health plans to have a better understanding of member lab data.
High-quality and timely clinical data sources are integral to the success of payer risk-adjustment, clinical outcomes, and care programs. Lab test results provide superior specificity for clinical conditions in near real-time; however, to date, the payer industry has not been able to gain broad access or fully harness actionable member health insights from lab results.
“When I speak with payers of any size, they agree that they would benefit from adding lab data insights into their existing programs but they typically only get around 30%-50% member coverage with their existing lab connectivity,” said Swati Abbott, CEO, Blue Health Intelligence. “But that’s not the only challenge. The data is often inconsistent, incomplete and difficult to standardize. They also need to allocate adequate clinical resources to interpret the myriad of lab tests and results. It is no wonder payers under-utilize lab data.”
Prognos DxCloud ingests all payer lab data, including connecting and extracting from new lab sources to achieve expanded lab data coverage. The platform applies proprietary harmonization rules and interprets data by utilizing over 900 clinical algorithms. The result is actionable member health insights available to payers through robust, secure data connectivity access and web services ensuring delivery of lab data to the right person at the right time. This is the only platform in the industry capable of providing an end-to-end solution: from establishing the broad lab connectivity to delivering actionable insights. This is due, in part, from the learnings and knowledge derived from the Prognos Registry, the largest source of clinical diagnostics information in 35 disease areas, with over 9 billion medical records for 160 million patients.
“Prognos DxCloud unlocks the value of clinical lab results and provides broad access to an expanded set of transformed data,” said Frank Jackson, Executive Vice President, Payer Markets, Prognos. “Broad clinical data sources that support risk-adjustment programs enable identification of appropriate member risk and reimbursement and, consequently, allow health plans to invest properly in quality and care management efforts to benefit their members.”
Payers interested in expanding and improving their clinical data supply with “ready-to-use” lab data from Prognos DxCloud platform will enjoy the following benefits:
1) Simplify their technical and operational environment and eliminate the need to commit resources to connecting, managing and processing complex lab data.
2) Gain expanded access to clinical lab results by getting data from more labs.
3) Add clinical granularity information in near-real time to other low-latency data sources, such as claims, to significantly improve clinical quality and risk programs.
4) Leverage over 900 AI-driven algorithms to identify and predict risk across the health plan.
To learn more about how Prognos helps payers solve risk, quality and cost challenges, visit our healthcare payer solutions webpage.
About Prognos
Prognos is an innovative healthcare AI company focused on eradicating disease by driving decisions earlier in healthcare in collaboration with Payers, Life Sciences and Diagnostics companies. It is the only company specializing in applying healthcare AI to clinical diagnostics. The Prognos Registry is the largest source of clinical diagnostics and lab information in 35 disease areas, with over 9 billion medical records for 160 million patients. Prognos has 900+ extensive proprietary and learning clinical algorithms to enable earlier patient identification for enhanced treatment decision-making, risk management and quality improvement. The company is supported by a $23M investment from Safeguard Scientifics, Inc. and Merck Global Health Innovation Fund (GHIF). For more information, visit prognos.wpengine.com