HealthVerity introduces taXonomy, the nation’s most comprehensive closed claims dataset for pharmaceutical research

PHILADELPHIA, June 24, 2024 /PRNewswire/ — HealthVerity, the leader in synchronizing transformational technologies and real-world data (RWD) to advance the science, today announced the launch of HealthVerity taXonomy – the nation’s most comprehensive, highly-curated and research-ready closed claims dataset for pharmaceutical safety, real-world evidence, and health economics and outcomes research organizations. This next-generation data solution meets the needs of an industry facing headwinds with evolving and unstable access to HIPAA-compliant patient data that is critical to justifying the cost, effectiveness and safety of increasingly complex treatments. HealthVerity taXonomy overcomes these challenges while providing unparalleled insights into patient journeys, treatment outcomes and total cost of care.

Breaking from legacy solutions that rely on a narrow mix of payers and payer types, HealthVerity taXonomy is an easy-to-use dataset specifically designed for research that encompasses over 245 million patient journeys from more than 225 payers, including commercial, Medicare and Medicaid, as well as race and mortality markers. The expansive dataset has up to eight years of continuous coverage, inclusive of all age groups, races and geographies. These attributes ensure a superior volume of rare and orphan diseases compared to legacy solutions, allowing for more impactful research outcomes. Through HealthVerity’s curation process, researchers benefit from organized, well-structured, de-duplicated patient encounters, reducing data management time and complexity.

Addressing a disruptive trend in data access, HealthVerity taXonomy is built for the long-term with a matrix approach to data providers that maximizes data breadth and stability while minimizing data disruption. HealthVerity has lasting relationships with all of the data providers in the nation’s largest healthcare and consumer data ecosystem that leads to a seamless data experience for its clients. Moreover, the open HealthVerity data ecosystem continually supports new payers and fully interoperable data types, such as electronic medical records and lab results, ensuring that HealthVerity taXonomy can solve for the most challenging of research questions in the most consistent, well characterized and highly relevant manner.

HealthVerity taXonomy also includes improved standardized costs mapped to procedures for any geography or payer type, including relevant market averages. This level of cost standardization enables pharmaceutical companies to better understand the pricing and value of medical treatments and total cost of care, ultimately leading to improved results.

HealthVerity taXonomy offers a newly streamlined and industry-leading data model with all data attributes being fully synchronized, de-duped and HIPAA-certified. This makes HealthVerity taXonomy research-ready from day one. The HIPAA certification also covers any future payer and data type additions from HealthVerity, ensuring continued compliance with privacy regulations while avoiding lengthy privacy delays in gaining access to new patient insights. 

“With the changing pharmaceutical and healthcare data landscape, researchers can no longer afford to rely on legacy closed claims datasets derived from limited data sources and lacking key attributes from commercial, Medicare and Medicaid patients,” said Andrew Kress, CEO of HealthVerity. “We are excited to be able to offer HealthVerity taXonomy as the industry’s most comprehensive, highly-curated and research-ready closed claims dataset premier for the study of efficacy, safety and economic outcomes.”

With taXonomy, HealthVerity is taking a bold step towards improving the landscape for healthcare data and delivering transformative results for the industry. To learn more, register for our webinar on Wednesday, July 10 at 12:00 p.m. ET, where we will reveal key details about HealthVerity taXonomy.

About HealthVerity

HealthVerity synchronizes transformational technologies with the nation’s largest healthcare and consumer data ecosystem to power previously unattainable outcomes and fundamentally advance the science. We offer a comprehensive, yet flexible approach, based on the foundational elements of Identity, Privacy, Governance and Exchange (IPGE), that synchronizes unparalleled Identity management with built-in Privacy compliance and Governance, providing the ability to discover and Exchange a near limitless combination of data at a record pace. Together with our partners in life sciences, government and insurance, we are Synchronizing the Science. To learn more about HealthVerity, visit healthverity.com.

HealthVerity Contact:
Colleen Stoker
614-738-0592
cstoker@healthverity.com

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SOURCE HealthVerity