HSG Advisors Expands Claims Data Analytics Services
LOUISVILLE, Ky., December 15, 2023 (Newswire.com) - HSG Advisors, a leading healthcare analytics and advisory firm, announced further expansion of its Claims Data Analytics services (CDA), with publication of data elements through a new online interface, HSG Dashboard, which will be available to all customers in 2024. The news follows a January 2023 announcement that outlined enhancements to its proprietary CDA capabilities and new hires in its CDA practice. The company is once again beginning a new year with new service offerings based on growing demand for data-driven insights in a rapidly shifting healthcare landscape. The most recent updates include expanded geographic coverage for all-payer claims data, additional service line definitions, and enhanced sub-service line details.
“Healthcare leaders are increasingly recognizing the importance of arming their teams with actionable data, and we’re excited to see the industry response each time we roll out new data insights and advisory services to support their health systems,” says D.J. Sullivan, Chief Strategy Officer and Managing Director, Claims Data Analytics at HSG Advisors.
HSG’s CDA services are based on proprietary all-payer healthcare claims data. The company estimates a 15-20% increase in all-payer commercial claims coverage nationwide in early 2024, offering new opportunities to utilize data for strategic decision making in healthcare and related industries. In addition to providing organization-specific, market-specific, and service-specific data for its clients, HSG partners with healthcare leaders to help them interpret and operationalize the information through its consulting services.
The company also makes updates to its data to keep ahead of industry changes. HSG made significant service line edits and revisions based on new codes released from the American Medical Association and the Centers for Medicare & Medicaid Services, a crucial update for service-based data. Additional service line expansions include:
- Incremental outpatient service and sub-service line definitions, including new imaging, labs, and outpatient evaluation and management (E/M) sub-service line categories, with additional edits to E/M codes
- Break-outs of specific services, including a spine/back breakout from neurosciences, orthopedic sub-service line definition build outs, and a revamp of cardiovascular sub-services
- Surgical and rehabilitation service line code updates and sub-service line groupings including surgical fracture care and chiropractic, occupational therapy, physical therapy, and acupuncture rehab services
Service line edits are dated back to 2019 so clients can understand historic performance vs. the current state, including impacts related to the pandemic.
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Photo caption: HSG Advisors expands Claims Data Analytics services with publication of data elements through new online interface, HSG Dashboard.
About HSG Advisors
HSG Advisors is a leading healthcare analytics and advisory firm that partners with health systems to transform their approach to markets, services, and providers for improved growth and operational and financial sustainability. The practice empowers leaders to build differentiated health system strategies and high-performing employed physician networks by pairing data intelligence with experienced advice. The firm's comprehensive approach to leveraging market data and analytics to inform healthcare strategies allows leaders to understand opportunities and deliver the right care to their communities. For more information about HSG, visit www.HSGAdvisors.com, LinkedIn, email info@hsgadvisors.com, or call (502) 814-1180.
Media Contact: Karolyn Raphael
Winger Marketing
(312) 494-0422
Source: HSG Advisors
