Acquisition rebranding will build out the business' Risk Solutions unit
LexisNexis Risk Solutions (Atlanta) is transitioning its Health Market Science unit, which it acquired earlier this year, into the LexisNexis family of brands. HMS, which has been one of the leading purveyors of prescribing and physician data based on claims-data processing (among other sources), will now have access to a range of other data sources, including public records, as well as master data-management (MDM) technology developed by LexisNexis.
The move is occurring as the MDM field become a more competitive one, spurred partly by the compliance requirements of the Physicians Sunshine Act (which requires aggregated spending data on individual physicians to be reported to CMS), and by the overarching goal, in this Big Data era, of capturing and performing analytics on a host of data sources that characterize both prescribers and their patients. “Armed with better healthcare practitioner information, [life sciences companies] can move to account-based selling—targeting and reaching the right providers, at the right time, with the right information, and in the right way. Life Sciences companies can also achieve compliance and commercial agility by leveraging the LexisNexis real-time data management and analytics solution, LexisNexis Agile Data Management,” says a company statement. The combined HMS/LexisNexis data will be marketed as the LexisNexis Provider Data Intelligence Suite.
Adds Theresa Greco, VP. Life Sciences: “It’s a good time for our brand to reflect what LexisNexis brings to life sciences companies in terms of superior provider data knowledge, market intelligence and agile data management that helps our customers answer critical business questions resulting in operational effectiveness and efficiency.”
LexisNexis itself is a unit of RELX Group PLC, a rebranding of Reed-Elsevier that occurred mid-year. The company had also acquired Enclarity, another healthcare MDM provider, in 2013.