SKOKIE, Ill.--(BUSINESS WIRE)--Sg2, the leader in health care strategic analytics and intelligence, announced today a new breed of ambulatory market data tools designed to provide a complete and comprehensive view of ambulatory health care service volumes and share in the private payer market.
The Sg2 Ambulatory Market Share and Volume online application combines Sg2’s strategic expertise and proprietary analytics with access to health care data across 40 million patients and nearly three billion ambulatory claims, with nearly one billion ambulatory claims added annually. Unique to Sg2’s approach is data denominated in covered lives rather than the traditional model of denominating in claims, providing a 100% view of all utilization of a population.
“As I travel the country, I talk to health care executives who have become frustrated with the lack of trustworthy data and visibility into ambulatory volumes,” said Steve Lefar, CEO of Sg2. “Just as Sg2 pioneered market sizing and forecasting 10 years ago with the Impact of Change model, now considered the industry’s gold standard, we are now introducing a new way of measuring strategic success across the entire continuum of care.”
The Sg2 Ambulatory application will provide actual—not estimated, extrapolated or inferred—ambulatory market volume and market share data for specific, named locations across all sites of care, service lines, diseases, procedures and service areas. Sg2 provides a transparent view of 100% of the total utilization of the covered lives in the database. The complete data set will be refreshed every 90 days, enabling consistent and timely visibility.
“Health systems now generate 50% to 70% of their revenue in the ambulatory setting,” Lefar said. “Traditional inferential referral and splitter tools are useful, but do not reflect the future success metrics leading health systems will need to pursue. You need to know your ambulatory market to determine who you partner, compete and collaborate with and to validate every investment decision,” he added.
In addition to planning across the full continuum of care, other uses for the application will include site of care strategic planning; growth planning; service line program development; mergers and acquisitions and partnerships; and physician recruitment and retention.
Sg2’s data partner, Health Intelligence Company, LLC (HIC), provides the health care industry’s largest and most comprehensive database of private payers across all sites of care.
“HIC is committed to building the largest, strongest, most robust source of health care data available in the industry today,” said Joe Bisson, HIC Vice President, Business Development. “We are pleased to partner with Sg2 to leverage health care data analytics to identify efficiencies and effective solutions across the entire health care system.”
The Sg2 Ambulatory application is scheduled to be integrated into the online Sg2 Analytics platform in Q3 2013. For more details about the application, please visit www.sg2.com/MarketData.
Sg2 is the health care industry’s premier provider of market data and information. The company’s analytics and expertise help hospitals and health systems understand market dynamics and capitalize on opportunities for growth. Over 1200 individual organizations throughout the US, Europe, and Asia, partner with Sg2. For more information, visit www.sg2.com.