Verisk Health, Inc., a global leader in healthcare data analytics, today announced the release of DxCG Risk Solutions 3.0, a suite of risk adjustment and predictive modeling products that enable organizations to analyze, predict, manage, and minimize healthcare risk and costs associated with commercial, Medicare, and Medicaid populations.
“Only when you understand risk can you effectively control costs,” said Nathan Gunn, chief medical officer of Verisk Health. “Identifying cost drivers helps control clinical costs, while understanding predicted costs leads to a better rate-setting process. Our new DxCG Risk Solutions provides the sophisticated models and analytics an organization needs to predict current and future healthcare risk and proactively implement actionable strategies for change.”
DxCG Risk Solutions 3.0 represents our best improvement to predictive power to date. These important gains in predictive power are due to a significant revision of the medical classification system and considerable enhancements to our modeling methodologies. For the user, this means our medical classification system better represents real-world clinical best practices. It provides greater specificity and granularity to yield better member stratification and intervention opportunities for customers who are using our products for medical, case, or disease management. The system also supports best practices in wellness program implementation in the workplace for better identification of employees at greatest risk.
Other enhancements to DxCG Risk Solutions 3.0 include:
- next-generation modeling methodology to produce more accurate predictions
- improved graphical interface to simplify the user experience and increases overall product flexibility
- streamlined multi-model mode that enables like models to be grouped together for easier execution and results
DxCG Risk Solutions 3.0 consists of five distinct products, including Commercial, Pharmacy, Medicaid, Medicare, and Medical Management. Each product leverages healthcare data to address vital business needs, including:
- assessing the illness burden of groups and populations for risk adjustment
- identifying and analyzing cost drivers
- enhancing the impact of care management programs
- using predicted costs to set underwriting rates
- developing risk-based provider payment systems
The product can be used by itself, integrated into existing software programs, or licensed as part of Verisk Health’s overall solution set, which includes D2Explorer, VHIP, and TierMed solutions.
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