Truven Health Analytics: Revolutionizing the Healthcare Sector with Big Data Analytics
Mike Boswood, President and CEO
We have a very considerable analytic power based on a deep understanding of healthcare data
In the thick of things are Truven Health’s vast data assets, including MarketScan, which has data on nearly 200 million de-identified lives. This database is a research resource that also enables clients to compare themselves to benchmarks. Mike Boswood, the company’s President and CEO, states, “In one way or another, we are involved in decision making that affects health delivery or benefits of one in three Americans.”
Truven Health offers a proven array of products to its provider, employer, health plan, government and research customers. Their products include, Micromedex—the comprehensive drug reference source; Advantage Suite—for analysis and management of covered populations from risk and care management perspectives; Consumer Advantage—for price transparency and other tools that assist consumers to make informed decisions; ActionOI—which extracts hospital data to create benchmarks and analyze performance; and Payment Integrity Enterprise which brings together claims, social, criminal, and other data resources with advanced data methodologies and predictive analytics to identify probable cases of fraud and abuse.
A newer offering, the Truven Health Unify population health solution, provides interoperability and focused analytics that bring data and decision resources to the patient bedside, consumer portal, and executive suite. They also run the 100 Top Hospitals program, which annually identifies the best performing hospitals in the U.S. based on public data-derived performance criteria.
Truven Health Analytics’ institutional capability of managing healthcare data as it increases in volume and becomes more diversified, is certain to remain as a fundamental quality and a differentiator for the company. “We have a very considerable analytic power based on a deep understanding of healthcare data,” says Boswood. Their extensive data warehousing capabilities and global healthcare perspective, in addition to their ability to understand and manage data in a secure manner are critical as Big Data gets deeper into the healthcare. Truven’s flexible customer-centric delivery model enables them to offer an excellent level of customer service.
In an attempt to improve the wellbeing of its employees, MGM Resorts–the gaming and hospitality company–worked with Truven Health and their Advantage Suite to help MGM create a Direct Care Health Plan to manage and control the way healthcare is delivered to their insured population. Truven’s tools helped with physician profiling, plan design modeling, physician reimbursement modeling and population segmentation analysis. The benefits for MGM Resorts included, doubled voluntary enrollment, an 88 percent patient satisfaction rate, 21 percent fewer ER visits and 12 percent fewer specialist visits per thousand, and more. Overall, it enhanced MGM Resorts’ quality of care and resulted in better health maintenance.
Moving forward, Truven Health Analytics is expanding the range, scope, and depth of their offerings, while delivering real-time predictive analytics solutions to their clients. They also intend to build on their excellent partnerships and work closely with their clients’ c-suites to provide advisory analytics and consulting services that enable them to realize tangible results.
Truven Health Analytics’ institutional capability of managing healthcare data as it increases in volume and becomes more diversified, is certain to remain as a fundamental quality and a differentiator for the company. “We have a very considerable analytic power based on a deep understanding of healthcare data,” says Boswood. Their extensive data warehousing capabilities and global healthcare perspective, in addition to their ability to understand and manage data in a secure manner are critical as Big Data gets deeper into the healthcare. Truven’s flexible customer-centric delivery model enables them to offer an excellent level of customer service.
In an attempt to improve the wellbeing of its employees, MGM Resorts–the gaming and hospitality company–worked with Truven Health and their Advantage Suite to help MGM create a Direct Care Health Plan to manage and control the way healthcare is delivered to their insured population. Truven’s tools helped with physician profiling, plan design modeling, physician reimbursement modeling and population segmentation analysis. The benefits for MGM Resorts included, doubled voluntary enrollment, an 88 percent patient satisfaction rate, 21 percent fewer ER visits and 12 percent fewer specialist visits per thousand, and more. Overall, it enhanced MGM Resorts’ quality of care and resulted in better health maintenance.
Moving forward, Truven Health Analytics is expanding the range, scope, and depth of their offerings, while delivering real-time predictive analytics solutions to their clients. They also intend to build on their excellent partnerships and work closely with their clients’ c-suites to provide advisory analytics and consulting services that enable them to realize tangible results.
Company
Truven Health Analytics
Headquarters
Ann Arbor, MI
Management
Mike Boswood, President and CEO
Description
A provider of analytic tools, benchmarks, insights and services to the healthcare industry.
