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Vericred introduces network analytics suite for insurance carriers

Published 21 June 2018

Data services company Vericred has introduced new Network Analytics Suite to provide health insurance carriers with actionable metrics and deep insights into their own and competing provider networks.

Vericred introduced the product at the annual AHIP Institute & Expo gathering of US health insurance carriers in San Diego.

Vericred’s co-founder and CEO Michael W. Levin said: “Vericred’s new provider network analytics suite offers a graphical, 360 degree view of a carrier’s own networks and those of their competitors.

“Networks, broad and narrow, are a key health insurance product differentiator. Our network analytics suite, developed based on feedback from carrier partners, helps carriers identify competitive advantages and weaknesses and to curate their networks to strengthen their product offerings.”

The Network Analytics Suite provides dynamic dashboards that allow for views of markets by provider specialty and geography at the state, county and zip code level. Features include overlap analysis which allows the user to compare any two networks showing those providers in common to both networks and those providers unique to each network.

Users can identify weaknesses, and analyze lists of individual providers. Network penetration is measured by the percentage of available providers by specialty within a given geography and can be compared between networks.

The relative strength of networks can be measured and visualized by specialty. Provider density can be viewed against various population models to determine under and over saturation of provider specialties.

Network sufficiency can be benchmarked using standards from the Centers for Medicare and Medicaid Services (CMS) or the carrier, and measured against other networks. Passing and failing regions can be identified graphically.

The Network Analytics Suite supports individual-under-65 and small group networks, as well as Medicare Advantage networks.

Source: Company Press Release