Data analytics has become vital in today’s health insurance environment. It not only offers insurers the opportunity to harness lots of data to effectively deter fraud, waste and abuse, it also helps them identify areas to improve quality and reduce cost.
Recognizing that, Boston Medical Center HealthNet Plan (BMCHP) has leveraged analytics to monitor emerging trends and track cost savings opportunities. The 350,000-member health plan has been investing in enhanced analytics tools to keep up with the demand for information to make good business decisions, Lisa Feingold, vice president of Clinical Informatics at BMCHP, told FierceHealthPayer in an exclusive interview.
“The more people who are looking at information, as opposed to data, the smarter the decision-making process will be,” Feingold said.