Data management firm Abacus Insights sealed the deal with cloud provider Snowflake to scale up data analytics and make health plans quicker.
Abacus offers healthcare data integration plans for large insurers, making use of customers data to run analytics for better understanding on members. Most insurers lack the synchronized system, and members’ data just sit in disparate storage.
What Abacus Insights want to do is capitalize on data management and curate better healthcare data storage and analytics. With this, it can move out of restrictive silos and secure data in the cloud for its customers.
The platform enable better healthcare planning so it’s easier to integrate and share data to doctors, hospitals, healthcare clinics, pharmacies, and laboratories. Digital health applications can also benefit from this standardized platform for easier client data management.
Since its founding, Abacus Insights has already managed more than 10 million members and 15 million consumers. By partnering with Snowflake, it hopes to generate more data insights and speed up the process altogether.
“We chose Snowflake because of the comprehensive nature of their capabilities that were highly complementary to ours. The scalability and flexibility that Snowflake brings is not something our platform could provide for another 12 to 18 months,” said Abacus Insights founder Minal Patel, M.D.
The partnership will allow Abacus Insights to access Snowflake’s central hub for the entire data ecosystem, giving healthcare plan customers access to all information in a single platform. This means customers have the ability to access, analyze, and visualize data in one place.
Through Snowflake’s analytics capabilities, healthcare plan customers can ingest and curate plans easily, unlocking the value of data. The partnership will improve the process and actual time in making sense of information in the platform.
“This changes the conversation to being one about data value and less about a complex change management process. The partnership with Snowflake enables us to meet our clients wherever they are in their analytics journey,” said Chief product officer Sumant Rao.
For years, there’s been a significant increase in how healthcare organizations organize and manage data. With the use of analytics, improving care quality is enhanced for patient information is available for doctors and organizations.
To put it simply, hospitals and clinics can access information and accelerate the process from one action to another. Additionally, the advanced system protects customer information, as compared to traditional record-keeping.