FAIR Health, a healthcare data analytics and consumer education firm, is expanding its claims database.
Here are five things to know.
1. The firm's database will soon have an additional four years of national Medicare claims data, according to a news release.
2. The addition will include all Medicare Parts A, B and D claims data from 2013 through 2016.
3. CMS has already provided the firm with all Parts A and B claims data from January 2013 through September 2016, and all Part D claims data from 2013 through 2015, according to the release. FAIR Health anticipates the rest of the data will arrive next month.
4. The additional data will supplement the firm's private claims database, which includes more than 23 billion medical and dental records from the past 15 years, according to the release. FAIR Health said the supplementary claims data represents more than 55 million people who receive Medicare Parts A and B coverage.
5. FAIR Health officials said the firm is slated to receive Parts A and B data from CMS quarterly and Part D data annually through its role as one of CMS' designated "Qualified Entity" firms.
"As part of its QE responsibilities, FAIR Health will produce and publish public quality reports and data analytics — based on its database of private insurance claims, in combination with Medicare information — to support efforts to promote transparency, improve the quality of care and reduce costs," the firm said. "FAIR Health also plans to use the Medicare data for internal analyses that will contribute to the evolution of its products and analytics and enrich its offerings in support of transparency in policy making and health systems research."
More articles on healthcare finance:
How Partners HealthCare's miscalculations altered Medicare payments nationwide
Dana-Farber's Medicare funding at risk due to overreliance on Brigham and Women's
Average claim denial rate for large hospitals, by region