LexisNexis Risk Solutions Brings Enhanced Data Analytics and Identity Management to Health Care Industry to Fight Fraud
New York, NY – LexisNexis® Risk Solutions today announced its entrance into the health care market with identity management and data analytics solutions to help health care payors (such as commercial health plan providers and government agencies) ensure appropriate access to personal health information and eliminate fraud. The solutions provide identity verification and authentication, and on-going monitoring of a patient’s and provider’s identity via a knowledge-based authentication system. This will help health care providers, patients and payors to prevent fraud at the beginning of the health care cycle, before care is given.
"LexisNexis Risk Solutions is working with all parts of the health care ecosystem, including payors and providers, to deliver actionable insight and analytics that enhances their ability to meet the challenges of health care reform," said Harry Jordan, vice president of health care for LexisNexis Risk Solutions. "This represents a transformational shift in the way the health care industry can leverage data to improve patient outcomes, combat fraud and enhance operational profitability."
Reform legislation promises to transform the health care industry with implications for every health care participant. Electronic medical record (EMR) adoption, the rise of health information exchanges (HIEs), changing coverage models and increased state and federal scrutiny of payors and providers represent new and significant challenges for health care organizations to comply with provisions of the Health Insurance Portability and Accountability Act, Identity Theft Red Flags Rules, Patient Protection and Affordable Care Act, and other regulations. In addition, medical identity theft and health care fraud continue to be a significant burden, with industry reports showing that the annual cost of fraud in the United States is estimated to be between $60 and $200 billion.
Recognizing these challenges, LexisNexis Risk Solutions is applying its information solutions expertise in the areas of linking, predictive analytics and identity management to enhance the ability of payors, providers, HIE, and others to conduct comprehensive identity management; effectively combat fraud, waste and abuse; and improve consumer engagement in wellness programs.
To support this effort LexisNexis Risk Solutions is building a team of dedicated experts with more than 100 years of health care experience. The initiative leverages core LexisNexis assets and capabilities including one of the world’s largest collections of public and proprietary records, linking technology, and advanced analytics made possible by the combination of these resources.
LexisNexis has been a leading provider of information solutions for more than 35 years. The LexisNexis Risk Solutions group provides industry-leading data, technology, analytics and workflow solutions to address risk problems in government, insurance, financial services and other industries. LexisNexis solutions are relied on by of Fortune 500 companies, federal agencies and state governments.
LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting, and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 15,000 employees worldwide.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions is the leader in providing essential information that helps advance industry and society. Building on the legacy of proven LexisNexis® services from the past 35 years, our cutting-edge technology, unique data and advanced scoring analytics provide total solutions that address evolving client needs in the risk sector while upholding high standards of security and privacy. LexisNexis Risk Solutions serves commercial organizations and government agencies and is comprised of several affiliated corporations, each offering premier customer-focused solutions. For more information, visit www.lexisnexis.com/risk
LexisNexis Risk Solutions