Health Market Science Announces Daily Refresh to its Provider MasterFile™

KING OF PRUSSIA, Pa., May 7, 2013 /PRNewswire/ -- Health Market Science (HMS), a leading supplier of provider data and end-to-end solutions that address data management, regulatory compliance and market intelligence, today announced daily refreshes for more than six million healthcare practitioners (HCPs) in the Provider MasterFile, empowering customers to make business decisions using the most current demographics, sanctions and credentialing information.  The HCPs database is now available as a daily, weekly, monthly, or quarterly update for all records or change-only options.

(Logo: http://photos.prnewswire.com/prnh/20130507/PH09057LOGO)

"Our clients depend on our data solutions for a variety of business objectives and challenges," commented Matt Reichert, CEO, Health Market Science, "these include near real-time decisions on whether to process a Medicare Part D claim or to enroll a physician to Medicaid based on his or her credentials. Other clients are preparing to submit state and federal reports for the Physicians Payment Sunshine Act starting March 31, 2014 and getting HCP information correct is key to compliance. Yet, over the last twenty four months it's been our retail pharmacy clients that have been the most demanding on our HCP data accuracy," Reichert continues. "With the CMS cracking down on fraud, waste, and abuse, our accuracy for credentials such as DEA, state license, sanctions and NPI has never been more important." 

"HMS' Prescriber Eligibility® [solution] helped our pharmacy operations reduce audit and compliance risk by giving us the flexibility to react to potential issues either via real-time at the point-of-service or via a retrospective investigative process," commented Maxine Johnson, R.Ph. vice president, Managed Care Operations, SuperValu, Inc. Prescriber Eligibility leverages data from the Provider MasterFile and is used by retail pharmacy to cross-check prescriber identifiers and credentials for a myriad of state and federal regulations at the point of sale or as part of a historical analysis. "With the Provider MasterFile downloading daily updates to HCPs, our clients are better able to adopt proactive measures to assure compliance," continued Reichert. "In particular, we're seeing momentum with state Medicaid agencies in provider enrollment and monitoring. Ultimately, the better and more synchronized the data is across the healthcare continuum, the more effective the efforts are to reduce fraud, waste and abuse."

In life sciences, escalating regulations as well as fierce competition are driving the need for more accurate data. Understanding where a physician spends most of his or her time, life sciences organizations can improve sales and marketing strategies. "The Provider MasterFile has helped Philips Healthcare meet federal and state regulatory requirements, including those associated with the new U.S. Sunshine Act, by improving the quality, depth and breadth of our physician data," stated Dr. Eric Silfen, chief medical officer, Philips Healthcare.

The Provider MasterFile contains millions of data points on all U.S. healthcare practitioners including physicians, advanced nurse practitioners, dentists, veterinarians, and physician assistants. Attributes for each HCP include ranked demographic data as well as essential credential information. Health Market Science assigns each HCP a unique and proprietary identifier in order for clients to readily integrate Provider MasterFile data into their systems via web services, cloud-based solutions or data integration services. Each and every record in the Provider MasterFile contains more than a decade of historical information, which boosts the company's match rate with those of client records and those garnered via public and proprietary sources. Historical information is also leveraged as part of audit capabilities in compliance solutions.

About Health Market Science

Health Market Science (HMS) helps healthcare organizations solve business challenges centered on healthcare provider information. HMS uses big data technology and domain expertise to help our clients comply with evolving federal and state laws, reduce operational costs and maximize market opportunities. Health Market Science offers robust solutions based on the most comprehensive provider database, including healthcare providers (HCPs), healthcare organizations (HCOs), and their affiliations, coupled with the largest medical claims database in the U.S.  A wealth of highly experienced talent in data analysis, with deep industry expertise, including regulatory compliance, mines these assets continuously for better ways to help clients increase margins and operate more cost-effectively.

Contact:

Stacey Levas
Vice President, Corporate Marketing
484.804.2702
[email protected]

SOURCE Health Market Science