Supplier Spotlight® highlights the unique skills and services offered by organizations that are part of our CONNECTED COMMUNITY™. Recently, we spoke with LexisNexis Risk Solutions which supports the biopharma industry by offering scientific data solutions and consultancy centered around regulatory expertise. Check out the interview below and visit LexisNexis Risk Solutions.
What is your company’s mission?
As the Healthcare Business of LexisNexis® Risk Solutions, we’re rooted in the mission of empowering healthcare organizations with critical insights to transform operations and create healthier communities. We provide precise data, nuanced insights and innovative modeling to help healthcare organizations address the complexities of the healthcare system, solve challenges and unlock their greatest potential. We believe in the power of data for good. We provide comprehensive data assets, integrated technologies, sophisticated analytics and deep industry expertise to enable healthcare organizations to optimize operations and improve outcomes while upholding the highest standards for security and privacy.
What products and services do you offer?
Our business centers around core data offerings with precision matching and identity resolution. We have access to one the largest de-identified medical claims repositories in the United States, which is used to help with research, development and engagement efforts. Our expertise in blending claims – government and commercial – has been part of our legacy for more than 15 years. We offer clinically-validated, comprehensive social determinants of health (SDoH) data that goes beyond patient healthcare interactions and delivers critical context on the impact non-clinical factors can have on health outcomes. This data can also help identify at-risk populations and engage more diverse patient cohorts for clinical research. Our identity data suite helps protect against cyberthreats, allowing for near-frictionless patient authentication. These solutions prioritize patient data integrity and can integrate into portal development. Our robust provider data helps with compliance and regulations to help ensure treatment is being provided by credentialed providers and validated prescribers with our industry-leading provider intelligence. And last but not least, our next-generation referential token and curated network partners links a wide range of de-identified datasets like social determinants of health data, mortality data and medical claims data on a single token to create a more holistic and longitudinal view of a patient’s story, while minimizing patient duplication errors.
What challenges do you solve?
The life sciences industry requires a high degree of precision, accuracy and confidence in the reliability of properly matched records. Our referential data matching with a single token creates a master patient identifier that links the right patient files together, which can help when it comes to patient safety and informing research and development. It also helps reduce the chance for miscounting patients on aggregated claims data. We solve the challenge of bringing together multiple and often disparate data sets – focused on providing context for the many factors that influence a person’s healthcare journey – and identify meaningful insights. Our technology can help observe changes with individuals over time to generate even more useful, longitudinal data as their journey changes. At the same time, granular insights on individuals can generate meaningful population-level data, which can inform research approaches and create more inclusive clinical trials. This data can help generate evidence that is used to support clinical research and product development by recruiting qualified trial participants, assessing real-world efficacy and measuring long-term outcomes.
What are the most innovative tools and technologies that you offer?
With our tokenization technology, we can help clients conduct meaningful research in the life sciences market. Also, our social determinants of health data help clients create more diverse cohorts that can help us better understand health disparities, foster inclusive research and improve health equity. With so much data available today, it’s critical for our clients to be able to use that data with the kind of precision required for health economics and outcomes research. We’re developing solutions and working with clients to pave the way to a new era of truly patient-centric, real-world data. Leveraging that data will enable more impactful research and more equitable access to care, in support of what we all deserve – better health.
What are your competitive advantages?
What sets us apart is our ability to link, validate and analyze data to provide insights with precision, and we have a legacy of over four decades of doing this in other highly regulated industries. Our referential token is much more than just marketing-grade data, but it’s research-ready data which sets us apart in the market. Our clients find that the combination of clinical and non-clinical records opens the door to generating real-world evidence for more impactful and inclusive research leading to improved patient outcomes and more equitable access to care. For example, one of the biggest challenges with bringing new therapies and treatments to market is ensuring they’re safe. To do so, researchers need to conduct multiple phases of clinical studies and meet rigorous approval processes with statistically significant results. If we combine the right sets of data to follow up on the initial approval, we have an opportunity to shorten the cycle by weeks, months, maybe even years.
Who are your clients?
We work with pharmaceutical companies, medical device companies, diagnostics companies, device manufacturers, digital technology companies and clinical research organizations, along with provider organizations, payers and pharmacies. While they each have different approaches to the market, our solutions help them link data and work across challenges for various stakeholders.
What new products and services are you developing in 2023/24?
We’ve recently acquired HumanAPI, which will further enable us to offer a best-of-breed consumer consent management solution that enables more seamless delivery of data. Our clients have been interested in being able to access a patient’s record to provide richer data and more context to support efforts in research, development, patient registries and clinical trials. This new tool will make it easier to solve these challenges, and it will empower patients with better access to their healthcare data. We are constantly monitoring and enhancing our curated data network with other data assets on the market including genomics, lab, wearables, rural and community health datasets. Combining these assets with our core data adds value to our core solutions and in turn drives value for our customers.
Where are your offices located?
LexisNexis Risk Solutions is headquartered in metro Atlanta, Georgia with individuals located throughout the country and throughout the world. The organization is part of RELX, a global provider of information and analytics for professional and business customers.