Compile Expands Access to Real World Data for Life Sciences Companies with Novel Closed Claims Dataset
New data product containing full capture of 30 million patient lives enables sophisticated analyses and empowers better treatment and reimbursement outcomes
07 - 19 - 2023
MENLO PARK, CA — JULY 19, 2023 — Compile, a novel provider of life sciences data products,
today announced the launch of Multi-Payer Closed Claims ReadyData, a dataset which will
allow life sciences and biotech companies to conduct more granular analyses, leading to
more optimized drug commercialization and reimbursement strategies.
Multi-Payer Closed Claims ReadyData contains over 6.4 billion de-identified medical
and prescription records and data from more than 80 payers, with a mix of Commercial,
Individual, Medicare, and Medicaid plans. It covers 30 million patient lives, more than
$720 billion in billings over five years of history, and two million unique providers,
making it a highly robust source of information.
“It’s become increasingly clear in recent years that access to data that tells the full
story of a patient’s journey through the healthcare system is critical to understanding
the nuances of the market, especially for rare diseases,” said Isaac Fehrenbach, CEO of
Compile. “Multi-Payer Closed Claims ReadyData provides life sciences companies with
this visibility, empowering them to do better, more granular analyses, and take steps
to improve patients' financial access to drugs.”
“Closed” claims data provides full capture of all claims for members
covered under certain plans, for a more complete view of a patient’s healthcare
activities during a specific period. This comprehensive picture of all interactions
with the healthcare system makes it superior to open claims databases for various
common analyses, including patient journeys, persistence and compliance analyses,
forecasting, and reimbursement analytics. It also provides critical validation in
projections often used for analyses.
Unlike other closed claims datasets in the market, Multi-Payer Closed Claims
ReadyData contains both National Provider Identifier (NPI) and robust cost
information, allowing users to identify economics and payer reimbursement at the
clinician level, conduct sophisticated payer analytics, and get insights into market
access questions.
It is also the only closed claims dataset available that assigns a proprietary and
unique chronic condition identifier for each member, making it easy to identify and
categorize members into clinically similar groups, which simplifies analyses such as
comorbidity identification and patient journeys. In addition, it offers detailed
billing data for insight into costs by payer and plan type, providing a complete view
of patient economic burden as well as plan costs.
Compile’s products now include payer complete data from all payer types including
Commercial, Individual, Medicare, and Medicaid. Compile’s data is readily available
through a choice of data delivery vehicles with short turnaround times of as little
as 24 hours, with flexible licensing models that allow customers to license only
the data they need. Multi-Payer Closed Claims ReadyData is the fourth in Compile’s
suite of data products, which include Open Claims ReadyData, All Medicare Closed
Claims ReadyData, and Provider 360 ReadyData.
To learn more about Multi-Payer Closed Claims ReadyData visit compile.com.
About Compile
Compile helps life sciences companies develop and distribute lifesaving innovations
by providing healthcare intelligence with high-capture, high-fidelity data across
providers and patients. Compile captures and organizes data on 5.9M+ healthcare
professionals, 2.9M+ facilities and 300M+ patient lives. Compile’s provider dataset
contains best-in-class affiliations with unique, precise scoring and flexible
hierarchies. By transforming messy and disparate datasets into clean, analytics-ready
tables with unparalleled accuracy and recency, Compile enables commercial teams to
move faster, while making our customers' lives easier with premium customer service
and a flexible business model. Customers include leading pharmaceutical manufacturers,
biotechnology firms, and other healthcare innovators.
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