Compile, a novel provider of life sciences data products, today announced the launch of Multi-Payer Complete Claims ReadyData, a dataset which will allows life sciences and biotech companies to conduct more granular analyses, leading to more optimized drug commercialization and reimbursement strategies.
Multi-Payer Complete Claims ReadyData contains over 6.4 billion de-identified medical and prescription records and data from more than 80 payers, with a mix of commercial, individual, Medicare, and Medicaid plans. It covers 30 million patient lives, more than $720 billion in billings over five years of history, and two million unique providers, making it a highly robust source of information.
"It's become increasingly clear in recent years that access to data that tells the full story of a patient's journey through the healthcare system is critical to understanding the nuances of the market, especially for rare diseases," said Isaac Fehrenbach, CEO of Compile. "Multi-Payer Complete Claims ReadyData provides life sciences companies with this visibility, empowering them to do better, more granular analyses, and take steps to improve patients' financial access to drugs."
Complete or "closed" claims data provides full capture of all claims for members covered under certain plans, for a more complete view of a patient's healthcare activities during a specific period. This comprehensive picture of all interactions with the healthcare system makes it superior to open claims databases for various common analyses, including patient journeys, persistence and compliance analyses, forecasting, and reimbursement analytics. It also provides critical validation in projections often used for analyses.
Unlike other closed claims datasets in the market, Multi-Payer Complete Claims ReadyData contains both National Provider Identifier (NPI) and robust cost information, allowing users to identify economics and payer reimbursement at the clinician level, conduct sophisticated payer analytics, and get insights into market access questions.
It is also the only closed claims dataset available that assigns a proprietary and unique chronic condition identifier for each member, making it easy to identify and categorize members into clinically similar groups, which simplifies analyses such as comorbidity identification and patient journeys. In addition, it offers detailed billing data for insight into costs by payer and plan type, providing a complete view of patient economic burden as well as plan costs.
Compile's products now include payer complete data from all payer types including Commercial, Individual, Medicare, and Medicaid. Compile's data is readily available through a choice of data delivery vehicles with short turnaround times of as little as 24 hours, with flexible licensing models that allow customers to license only the data they need. Multi-Payer Complete Claims ReadyData is the fourth in Compile's suite of data products, which include Open Claims ReadyData, All Medicare Complete Claims ReadyData, and Provider 360 ReadyData.
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