ATLANTA, Oct. 24, 2017 /PRNewswire/ -- LexisNexis® Risk Solutions and Milliman today
Socioeconomic data analyzed by LexisNexis Risk Solutions uncovers a wide range of information needed to understand social determinants of health, including information on relatives and associates, assets, trends over time, education, neighborhood and household characteristics and more. It can be utilized to improve care management and risk stratification activities.
"Socioeconomic data can enhance traditional risk prediction models that use only medical and pharmacy records, allowing for a more comprehensive picture of an individual," said Josh Schoeller, vice president, Healthcare Markets, LexisNexis Risk Solutions. "Our LexisNexis Socioeconomic Health Attributes are clinically validated and help take predictive modeling to a new level by uncovering hidden costs and risks that cannot be identified through traditional data sources."
"As the leading provider of healthcare intelligence, we wanted to complement our existing analytics by gaining access to this unique data that are correlated to health outcomes," said Milliman Principal Todd Fessler. "By giving our clients the option to integrate this data, we can open up new analytic possibilities."
More than 10,000 public and proprietary data sources, providing comprehensive, longitudinal and current socioeconomic information on individuals, continuously feed into LexisNexis Risk Solutions. This data is linked to a unique LexID® to create identity profiles for each individual. Then, proprietary linking technology matches patient and member lists sent by healthcare organizations to approximately 280 million identities and returns individual-level socioeconomic attributes and scores.
This vast amount of data provides healthcare organizations with a powerful view of the social determinants of an individual's health risk.
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, LexisNexis Risk Solutions serves customers in more than 100 countries and is part of RELX Group plc, a world-leading provider of information and analytics for professional and business customers across industries. For more information, please visit www.lexisnexis.com/risk.
Our health care 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.
The LexisNexis Health Care Alliance Program is a strategic partnership program that enables businesses ranging from data suppliers and consulting groups to Healthcare Information Technology (HIT) solutions to provide greater value to their customers by enhancing current solution portfolios with LexisNexis sophisticated data, technology and analytics.
About MillimanMilliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit Milliman.com.
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SOURCE LexisNexis Risk Solutions
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