Boston, September 20, 2023—
Abacus Insight, the leader in data usability for U.S. healthcare payers, offers a breakthrough with bi-directional data sharing for more than 25 use cases including risk adjustment, CMS interoperability, clinical data exchange, cost-of-care management, HEDIS and STAR reporting, pharmacy/specialty benefit management, ASO carve-out and others. As Abacus Insights steadily adds use cases through its expanding array of data solutions natively available on Snowflake, payers including Cambia Health Solutions and Blue Cross Blue Shield of Massachusetts are accelerating and amplifying the business value of usable data from Abacus Insights made accessible via Snowflake’s Data Cloud.
“Operating on Snowflake has enabled Abacus Insights to give our payer clients unprecedented advantages in data usability, enabling seamless interoperable exchange with vendors, providers and other partners. Our collaboration is a game changer for technology teams who can now supply validated, on-demand data across their organizations to better engage members, lower employee healthcare spend, reduce operational costs and increase revenue,” said Minal Patel, MD, Founder and CEO of Abacus Insights.
Abacus Insights consolidates structured, semi-structured, and unstructured data from internal and external sources, then standardizes and validates it through a four-stage data transformation platform. The result is data that represents a new standard in usability defined by six criteria: accurate, complete, timely, relevant, versatile and use case and application agnostic. Abacus can update its usable data every 15 minutes versus the industry average of 24 hours and make it available in any required formats, tools and apps, not just for IT and data experts, but for business users, members, providers, vendors and other parties with specific use cases in mind.
For payers already using or interested in adding Snowflake, Abacus Insights ensures the interoperable usable data is accessible, on demand through Snowflake Data Cloud, providing payers with opportunities to scale analytics, operations, and gain advanced capabilities, even unlocking the power of artificial intelligence and machine learning. Payers can populate the usable data directly into business intelligence tools via Snowflake’s Data Cloud.
“Abacus Insights makes it easier for payers to unlock the value of the Snowflake Data Cloud by enabling more rapid onboarding through its industry-leading connector library so plans can focus on sequencing use cases to kickstart business value,” said Jesse Cugliotta, Global Industry Lead – Healthcare and Life Sciences at Snowflake.
With the only HITRUST r2-certified and SOC2-certified data transformation platform and solutions developed specifically for payers, Abacus begins delivering value within 4 to 6 months with 60% lower TCO than internal builds. Managing data for more than 21 million health plan members, Abacus integrates with and leverages legacy tech stacks while keeping pace with tech currency.
About Abacus Insights
Abacus Insights is a healthcare technology leader with the only data transformation platform and solutions built specifically for health plans. Focused on data quality and usefulness, Abacus Insights gives payers a new level of control and flexibility with their data by developing accurate, timely, and robust ecosystems that can support any analytics or other applications. Managing data for 21 million members, Abacus Insights partners with payers to deliver scalable solutions that drive strategic initiatives, control costs, and improve member lives and experiences.
Media Contact:
Lois Padovani