TRICAST Announces Patent-Pending Technology for Real-Time Health Data Analysis

MILWAUKEE, Jan. 7, 2014 /PRNewswire/ -- TRICAST, Inc., the nation's leading pharmacy data analytics company, today announced the U.S. Patent and Trademark Office's acceptance of their first patent application, a revolutionary low cost, distributed, decentralized and elastically scalable alternative to "Big Data".

"We're excited about our work," explained TRICAST President Greg Rucinski. "It keeps us in step with healthcare reform and the industry's desire for timely reporting."

Response and Intervention Are Concerns
Healthcare Reform business requirements and the Centers for Medicare and Medicaid (CMS) are requiring a responsive approach to managing health care information. Because this has become a top priority, healthcare executives and clinicians are searching for ways to quickly identify and respond to emerging issues. 

Traditional Big Data analysis solutions were developed for organizations requiring a flexible, backward looking analysis of historic data. What of organizations that require immediate insight into data that is not "historic" in the traditional sense, but minutes, or even seconds, old?

The TRICAST Solution
The TRICAST approach couples real-time data streams from disparate sources to its innovative business intelligence software. The resulting real-time analytics allow for the iterative transmission of small amounts of pharmacy and healthcare data and the storage of only the remarkable results—that is, anomalies or oddities or anything the user specifies as out-of-the-ordinary.

"Better, faster, cheaper was our mantra during the development work on this; we can move from problem to solution in real time," adds Rucinski. "This quick, accurate analysis really pays off in the Medicare Part D arena. Turnaround time is critical to the effective management of fraud, waste and abuse and rejected claims monitoring programs, as well as concerns for patient safety."

About TRICAST
TRICAST, Inc. is a leading pharmacy data, analytics, and consulting firm founded in 1997. TRICAST has leveraged more than 25 years of technology and claims processing expertise, extensive client insight and a team of industry experts to offer forward-thinking, full-scope pharmacy benefit oversight solutions to its clients. TRICAST provides audit services as the core of its business, and have assessed multiple types of pharmacy programs. The company's broad experience across payers of widely differentiated size and type, combined with focused experience in pharmacy, enabling the delivery of comprehensive assessments of pharmacy programs. Learn more by going to www.tricast.com. For more information, contact Greg Rucinski at 414.302.9733 or Email.

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SOURCE TRICAST, Inc.