Wednesday, September 21, 2011

Health Insurers Pool $1 Trillion in Medical Claims Data to Spot Trends

Major health insurers are pooling more than $1 trillion in claims data and creating an institute to cull the statistics and identify the drivers of higher health spending.

More than 5 billion medical claims from Aetna Inc. (AET), Humana Inc. (HUM), Kaiser Permanente and UnitedHealth Group Inc. (UNH) will be collected and combined with government health claims data by the newly formed Health Care Cost Institute.

“You literally can’t know too much as one of my colleagues likes to say,” Gaynor said in a telephone interview. “We have not been getting a very complete picture of what has been driving our health spending and utilization, and that restricts our ability to make policy.”

The insurers are providing an undisclosed amount of initial start-up money. Read the full article... 

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