![]() “Then, we link, define and master all the context behind that data, enriching that data,” Patel explained. The Abacus Insights platform ingests data from disparate data sources and brings that data into one environment. What Patel and his team of around 90 full-time employees aim to do is break down those silos and free up data to be used by different stakeholders in the industry. While claims data is housed in one area, for example, membership and enrollment are in another, and procedure- authorizations in yet another. The problem is that this information is often locked in dispersed legacy technology systems and is hard to share. These insurers have been bundling tons of data over decades, every time their members visit a doctor or hospital, undergo a test, or file a claim. The company initially focuses on payers, such as health plans, Medicare and Medicaid, that set service rates, collect payments, process claims and pay provider claims. Patel is the founder and chief executive officer of Abacus Insights Inc., a startup with an intelligent data platform that harnesses the healthcare data explosion to allow patients, insurers and healthcare providers to make better decisions. Almost three decades later Patel is doing exactly that, but in a very different way than he ever imagined. When Minal Patel first entered medical school, his aspiration was to solve health problems and make an impact in patients’ lives. This feature is part of theCUBE’s ongoing CEO Startup Spotlight series. "HITRUST Risk-based, 2-year (r2) Certification demonstrates Abacus Insights is taking the most proactive approach to cybersecurity, data protection, and risk management.We recently spoke with the chief executives of companies that participated in the recent AWS Startup Showcase: The Next Big Things in AI, Security & Life Sciences to find out what drives them and learn about their visions for the future. "The HITRUST Assurance Program is rigorous and reliable because of the comprehensiveness of control requirements, depth of review, and consistency of oversight," said Bimal Sheth, Executive Vice President, Standards Development & Assurance Operations, HITRUST. Abacus Insights manages data for more than 21 million members. ![]() ![]() The unmatched control and flexibility of interoperable usable data enables payers to more effectively run and improve operations and analytics and to innovate. With the only data transformation platform and data solutions developed specifically for health plans, Abacus Insights makes healthcare data usable by ensuring it meets six dimensions-accurate, complete, timely, relevant, versatile and use case and application agnostic. ![]() "By regularly upgrading our approach and pursuing the most rigorous certifications, we commit to using the most advanced standards, protocols and processes." "Protecting the personal information and data security of our payer clients is essential, and it is why we build stringent safeguards into every aspect of our platform, data solutions and overall business," said Bill Brown, Chief Information Officer and Chief Information Security Officer for Abacus Insights. This achievement places Abacus Insights in an elite group of organizations worldwide that have earned the HITRUST r2 certification. ![]() The HITRUST risk-based, two-year (r2) assessment demonstrates expanded practices inclusive of unique risk factors, compliance factors, and a more comprehensive approach to evaluation including policies, processes, and implementation. For the recertification, Abacus Insights demonstrated that it met the gold standard for regulatory compliance, industry requirements and risk management. Meets the highest standards for cybersecurity, data protection, and risk mitigation for health plan clientsīOSTON, March 23, 2023-( BUSINESS WIRE)- Abacus Insights, the leader in data usability for healthcare payers, has earned the HITRUST r2 certification for its Data Transformation Platform hosted at Amazon Web Services (AWS) and Active Directory hosted at Microsoft Azure. ![]()
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