If Data is the new oil, then you are dealing with Crude. Precision has the refinery to generate the enriched, high-octane gasoline you need to power your commercial decision engines.

With the explosion of data availability directly from sources such as clearing houses, switches, COBs, EHRs, labs, payers and others, the RWE landscape has been altered in the last couple of years. Access and acquisition of data has been greatly enhanced.

However, the journey for sustainable insights is only just starting with the availability of these data assets. Very quickly, users of the data are realizing the significant work required to make the data pliable for analytic use cases. This has so far limited the rich trove of new/alternate data to be used primarily for RWE related use cases, and has not yet made it to mainstream commercial applications.

At Precision, we have taken a good, hard look at what prevents these sources from recognizing their full potential, and they can largely be categorized into the following 3 categories:

1. It’s raw—really raw
2. Healthcare stakeholders have not been unmasked
3. It’s not ready for integration with pharma commercial operations

The raw nature of the data is primarily due to the fact that they are not actually capturing claims, but are capturing system events or transactions between various system that have been aggregated. This results in significant overstatement of claims captured, and duplicated information in the repository; thus the first step is to identify the true claims from the repository of events and transactions. Once identified, categorize them appropriately to determine the final claim, primary payer, final remit status, and other relevant tags.

The second aspect is solved by leveraging Precision’s Payer and IDN Masters. The Payer Master allows for the translation of the BIN/PCN/GROUP identifiers in the pharmacy claims to the corresponding Payer entity and their relationship to health plans and PBMs. It also unlocks the Medical payer by resolving the Plan Name and Plan ID in the medical claims to the Medical Payer in the Master. The IDN Master’s application allows for HCP-HCO-IDN relationship to be defined and also quantified based on HCP activity at the site. This makes the data that much richer for deriving actionable insights at the provider level.

The final transformation is achieved by the turnkey connectors that the Precision Masters provide to other syndicated sources for custom and syndicated data sources, such as prescriptions, claims, formulary lives and coverage, policies, pathways, CRM, channel, shipment and patient services. This stage allows for the creation of an integrated data model that finally unlocks the commercial applicability of these data sources and allows pharmaceutical commercial teams to power their operations and decision engines.

Precision has built a source-agnostic data refinery that enriches the raw event-level data to commercial grade data. Please come explore these solutions as they enable expensive data assets to reach their full potential.