Vericred Provides Exclusive Provider-Network and Formulary Datasets to Healthcare Researchers

Tuesday, March 21, 2017 Research News
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New researcher initiative enables valuable insight into health care marketplace

NEW YORK, March 21, 2017 /PRNewswire/ -- Vericred, a healthcare data services company, announced today that it

will provide qualified non-commercial researchers across the country access to new high-value health insurance datasets, at no cost, with the goal of enabling analysis and insights into the health insurance market. This work was made possible with support from the Robert Wood Johnson Foundation (RWJF).

The newly available datasets are comprised of Vericred's proprietary provider-network and formulary data. These data will be available in addition to the previously available HIX Compare data, provided by RWJF. Vericred's provider-network data represents hundreds of millions of plan-provider relationships with details on which doctors and facilities participate in specific networks, bringing transparency to the network component. The formulary dataset provides information on which drugs are covered by which plans in addition to their tier level and restrictions.

"The network and formulary datasets add important depth to what is currently available to researchers, providing endless potential for analysis and new understanding of how the health insurance market is evolving," said Katherine Hempstead, senior adviser at the Robert Wood Johnson Foundation.

"Vericred shares the Robert Wood Johnson Foundation's goal of increased transparency across all sectors of healthcare," explains Michael Levin, Vericred's co-founder and CEO.  "These datasets will enable researchers to investigate aspects of health insurance that would otherwise be impractical if not impossible to do. We look forward to seeing research results that come from this initiative."

Many analysts have already used these data, including government agencies, academic researchers, and analysts from the private sector.  Just recently, University of Pennsylvania's Leonard Davis Institute for Health Economics performed a study using Vericred's network data to analyze the "narrowness" of regional provider-networks. The study provided invaluable insights into geographic shifts toward narrow networks, something that might not have been possible without the data. Through this initiative, however, RWJF and Vericred hope to introduce these data resources to a wider community of researchers.

Researchers with non-commercial interests can apply for access using an online form at Vericred.com

About Vericred: Vericred (www.vericred.com) is a healthcare data services company whose health insurance data platform enables innovative solutions in healthcare. Its platform, comprised of plan design and rate data, provider-network data and formulary data, offers a solution to an industry plagued by highly fragmented, rapidly changing data that currently exists in non-standard and non-structured formats. Vericred aggregates data from thousands of sources, which it then normalizes, structures and delivers through a modern API. Vericred is the only company offering access to all three datasets through a single integration point. Vericred's data solutions benefit companies looking to transform today's healthcare industry though enhanced tools and applications that provide transparency and choice. For more information visit www.vericred.com or interact with us on Twitter, Facebook and LinkedIn.

About Robert Wood Johnson Foundation For more than 40 years the Robert Wood Johnson Foundation has worked to improve health and health care. We are working with others to build a national Culture of Health enabling everyone in America to live longer, healthier lives. For more information, visit www.rwjf.org. Follow the Foundation on Twitter at www.rwjf.org/twitter or on Facebook at www.rwjf.org/facebook.

Media Contact: Gabriella Velez, North 6th Agency Vericred@n6a.com 212-334-9753 ext. 137 For high res images, biographies and fact sheets, click here. 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vericred-provides-exclusive-provider-network-and-formulary-datasets-to-healthcare-researchers-300426820.html

SOURCE Vericred



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