![]() “And that was happening again, again and again,” Patel recalled. Despite the massive amount of information insurers have, running the simplest of analyses across different systems, such as how many members with a certain disease live in a region, can take months to process. But it was the business side of the healthcare system, working as an insurance executive, that he quickly learned the difficulties of having timely access to the proper data. ![]() As a physician and researcher for almost 10 years, as well as being a faculty member at Harvard Medical School, he learned how data is crucial to a precise diagnosis and better care. Patel’s diverse experience in healthcare ultimately served as inspiration for the creation of Abacus Insights. Examples include optimizing treatment plans, flagging unfilled prescriptions or stopping a duplicate test or scan. The whole idea, according to Patel, is that when patients, insurers and providers all have better access to data, they can make choices that ultimately lead to better outcomes and lower costs. While Abacus is not an analytics company, it applies artificial intelligence and machine learning in its data pipelines, so the processes of gathering data, making connections and gleaning actionable insights get smarter, faster and overall more efficient. “Then, we link, define and master all the context behind that data, enriching that data,” Patel explained. The Abacus Insights platform ingests data from disparate data sources and brings that data into one environment. What Patel and his team of around 90 full-time employees aim to do is break down those silos and free up data to be used by different stakeholders in the industry. While claims data is housed in one area, for example, membership and enrollment are in another, and procedure- authorizations in yet another. The problem is that this information is often locked in dispersed legacy technology systems and is hard to share. These insurers have been bundling tons of data over decades, every time their members visit a doctor or hospital, undergo a test, or file a claim. The company initially focuses on payers, such as health plans, Medicare and Medicaid, that set service rates, collect payments, process claims and pay provider claims. Patel is the founder and chief executive officer of Abacus Insights Inc., a startup with an intelligent data platform that harnesses the healthcare data explosion to allow patients, insurers and healthcare providers to make better decisions. Almost three decades later Patel is doing exactly that, but in a very different way than he ever imagined. When Minal Patel first entered medical school, his aspiration was to solve health problems and make an impact in patients’ lives. This feature is part of theCUBE’s ongoing CEO Startup Spotlight series. ![]() We recently spoke with the chief executives of companies that participated in the recent AWS Startup Showcase: The Next Big Things in AI, Security & Life Sciences to find out what drives them and learn about their visions for the future. ![]()
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