Getting the most out of your data can help you provide better, more timely care for members and patients while reducing costs. Predictive analytics provides a variety of actionable insights based on your data, but if you’re going to invest in such a program, you want to make sure you get a return on your investment.
Lumiata enables clients to spend less time cleaning data and more time gaining insights from it, achieve interoperability, and easily make predictions.
This makes their data more useful, allows them to identify and manage risks, and saves money.
Here’s a closer look at how Lumiata customers are achieving ROI.
Data scientists spend less time cleaning data and more time learning from it
Most healthcare data scientists spend 80% of their time cleaning data and only 20% of their time creating predictive insights. Is this really the best use of their time? This statistic highlights the need to address a number of issues around data quality, standards, and access in healthcare.
With help from Lumiata’s data and machine learning platform, our clients are able to focus on their most critical work. Our platform integrates seamlessly into your existing workflow to ingest, clean, and enrich healthcare data in all forms and provide actionable insights – insights that give you the power to put the necessary resources towards your biggest priorities, risks, and challenges.
Our Lightning AI Model Builder gives your data scientists the toolset to build high-performing data models using auto-generated machine learning features built specifically for healthcare. By allowing multiple data scientists to work on the same data on the same platform, Lumiata improves speed and ingenuity.
Our healthcare Data Management solution enables your team to pull and query data and build high-quality data models in a fraction of the time you currently spend doing so; Lumiata reduces time spent building models by 65-85% and allows you to get started in days rather than weeks or months. This gives your data science team more time to work on data science tasks and scales the talents of your data scientists, engineers and analysts.
By spending time and resources on what matters most, our customers gain valuable insights from their data, are able to better manage risks, save time, and save money.
Achieve data interoperability
You have a great amount of data, but that data’s only valuable if you’re able to use it. Interoperability – the ability for multiple people and programs to share and use a set of data – is crucial for making the most of your data. To achieve interoperability, you want to have a single source of truth, patient and provider data matching, multiple quality checks, and consistent data standards.
Our Data Management as a service helps you unlock your data’s potential so your entire organization can quickly access and query data. This service includes Person360, a longitudinal patient record for every member who’s in your system.
Each record is enriched with our proprietary disease codes, making it easy to predict disease onset, disease progression, and other risks. Users can view historic profiles through SQL queries and other methods, as well as build, deploy and monitor machine learning models. Person360 records also enable your team to quickly and easily access, query and analyze data. Records are prepped and ready for machine learning, allowing you to access the data when you need it and gain actionable insight for each member.
To achieve interoperability readiness, Lumiata uses an application programming interface-based ecosystem to reduce friction surrounding healthcare data and is designed to meet ONC and CMS rules.
With Lumiata, our clients have access to a single source of truth, allowing them to quickly access and analyze data, take action in a timely manner to reduce risks and provide quality care, and save time and money.
Easily predict costs, high-cost members, disease onset, progression and more
Artificial intelligence allows you to draw a variety of predictions from your healthcare data – predictions you can use to improve care management, reduce risks, and minimize costs. In order to do this, however, your data needs to be cleaned, enriched, normalized, and accessible to your entire organization. Lumiata features proprietary, pre-trained machine learning models that make it easy to predict high-cost members, disease onset and progression, and more.
OOP costs predictions: Lumiata uses clinical experiences to predict costs on a rolling 12-month basis.
New member predictions: Our Person360 records can be used to predict critical health issues.
Disease onset predictions: We can predict the onset of hundreds of diseases within your population over the next 12 months, allowing you to plan proactive care management.
Disease progression predictions: Lumiata uses your data to predict disease progression in the next 12 months, empowering you to act quickly, better create and implement care management plans, and intervene when necessary.
High-cost members predictions: We proactively identify high-cost members and their risk factors so you can provide more effective care management and treatment. Our solution is proven to be 65-80% more accurate than leading actuary cost prediction models.
Group cost predictions: Actuaries, underwriters, and account executives are able to accurately predict healthcare costs for insured groups and set more accurate premiums. Our solution is proven to be up to 80%% more accurate than leading actuary cost prediction models.
Hospital admissions predictions: By analyzing pre-existing conditions, Lumiata provides predictive insights into patients who are at risk of being admitted to the hospital, allowing clients to plan treatment and reduce re-admittance rates.
Lumiata can stand alone, supplement or augment your existing capabilities. With Lumiata, your data science team can quickly build, deploy and monitor custom models, compare multiple models at a time, and work on your most critical use cases. You’re also able to share a predictive dashboard with your executive team and stakeholders, keeping everyone in the loop.
Lumiata enables clients to predict risks sooner, take action earlier, and save money.
See how you can achieve ROI with Lumiata
ROI is crucial to any investment. Lumiata ensures our clients achieve a return on investment by helping them spend less time cleaning data, making their data more usable, and making predictions – all of which allow customers to take intentional actions and reduce costs.
How can Lumiata help your company? Click here to find out and request a demo.