Intelimedix, a business intelligence company focused on multi-relational data mining and advanced analytics for faster, more accurate decision-making, launched Tru:Beacon, a technology-based solution that precisely identifies opportunities to save medical costs without lowering quality of care.
Built on the collective knowledge of people at the forefront of controlling healthcare costs, Tru:Beacon spans the breadth of cost challenges facing health plans today. It leverages proprietary deterministic algorithms to uncover inappropriate payments, known fraud schemes and treatment variations, as well as other cost-increasing occurrences. Its predictive modeling capability employs profiling and pattern recognition to detect such problems as provider fraud, member misuse and identity theft.
Utilizing a collaborative development and multiparty validation model, including Intelimedix’s broad Blue Cross and Blue Shield customer base, makes the Tru:Beacon solution more precise and more accurate than any other of its kind on the market. This highly collaborative approach puts the company at the forefront of gathering real-time intelligence on waste and fraud, and putting it into action.
“Healthcare reform and the economic downturn have intensified the need for health plans to control costs, and placed a focus on expenses associated with fraud, waste, and other issues that do not contribute to care,” said Intelimedix president and CEO Joel Portice. “Tru:Beacon offers health plan executives a precise means of identifying opportunities to save medical costs without sacrificing quality of care for their members.”
The new offering provides additional value to Intelimedix’s customer base, including the ability to leverage efforts across a broad customer network to achieve best-in-class capabilities at reduced development expense.
Tru:Beacon is one offering in Intelimedix’s recently rebranded Tru:Solutions suite, which is characterized by scalability and a customer-facing orientation. The offerings are designed for ease of integration with health care carriers’ strategies, branding, marketing messages and local market metrics. Other offerings in the Tru:Solutions suite include Tru:Analytics (Outsourced Analytics), Tru:Insights (Employee Group Reporting), Tru:View (Data Aggregation) and Tru:Rx (Pharmacy Cost Management) applications.
Intelimedix’s Tru:Solutions suite is powered by the company’s robust Relational Online Analytical Processing (ROLAP) technology, advanced algorithms and its proprietary business intelligence and analytics platform. The platform integrates employer, clinical, administrative and financial information to generate detailed insight into data trends and practices and provide unlimited drill-everywhere functionality.
