Today Change Healthcare (Nasdaq: CHNG) introduced Market Insights, a comprehensive analytic dataset that provides approved healthcare stakeholders unparalleled visibility into crucial utilization, population health, and financial trends that drive the U.S. healthcare system.
Public policies including HIPAA, 21st Century Cures, and TEFCA prioritize the coordination of data to improve patient care. Despite this, the U.S. ranks 43rd in life expectancy; spends more on healthcare than any other country (now 18% of GDP); and wastes approximately 25% of total healthcare spending. Market Insights provides aggregated, summarized, and de-identified data, enabling fact-based analysis and decision-making that helps optimize care nationally and for local communities.
Drawn from the Change Healthcare Intelligent Healthcare Platform, Market Insights gives payers, providers, and those serving the healthcare industry a comprehensive and granular view into the U.S. healthcare system, spanning all major types of care and delivery models. It enables deep comparative analysis to “best in class” in local markets and how “best” evolves over time.
The state of healthcare varies greatly by location, specialty, and demographics. Market Insights is designed to help healthcare constituents ensure care is optimized based on unique community needs; to aid in the benchmarking of and improving efficiency of care delivery; and to effectively predict and address care gaps based on local population health and utilization trends.
The dataset aggregates the past 12 consecutive months of billable healthcare activity, is searchable by zip code and other filters, and is refreshed quarterly. It includes:
- Utilization Insights: Summarized care utilization trends, filterable by institutional and professional designations, age band, and gender
- Population Insights: Summarized disease prevalence, filtered by age band and gender
- Financial Insights: Summarized billing ranges, filterable by institutional and professional designations
“The United States spends $3.5 trillion on healthcare—more than any nation—yet our life expectancy is the lowest among developed nations,” said Tim Suther, senior vice president, Data Solutions at Change Healthcare. “We can help change that. Our unique position at the center of the healthcare ecosystem enables a view that provides a robust, fact basis to optimize care at the local level. Together with our customers and partners, we can unlock the transformative power of data analytics to accelerate improvements to our healthcare system.”
While many healthcare industry stakeholders track their own performance, cost, and market share data, it is the collective data––presenting a snapshot of regional and national trends––that will drive the development of impactful solutions.
“With more than $900 billion of annual U.S. healthcare spend attributed to inefficiency, customers will increasingly need data products to help reduce inefficiency and optimize their care delivery operations,” said Stephen Orban, general manager, AWS Data Exchange, Amazon Web Services, Inc. “We’re collaborating with Change Healthcare to make Market Insights available to AWS customers worldwide on the AWS Data Exchange. This combination makes it easy for payers, providers, and other stakeholders to improve healthcare delivery by giving them one place to securely find, subscribe to, and analyze a rich set of de-identified healthcare data in the cloud. Our customers want a frictionless, consistent way to acquire data to support their analytics and machine learning models, and Change Healthcare and AWS Data Exchange are making that a reality for them.”
To access the first Market Insights snapshot report and to obtain subscription information, visit the Market Insights resource page.
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About Change Healthcare
Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system. We are a key catalyst of a value-based healthcare system, accelerating the journey toward improved lives and healthier communities. Learn more at changehealthcare.com.