Collaboration Overview
Texas-based MedeAnalytics has announced a strategic partnership with Socially Determined and Mathematica, two prominent healthcare data analytics firms. This collaboration aims to improve the understanding and measurement of social determinants of health (SDOH) through a new initiative called “Social Risk Insights, Measures and Outcomes.”
Key Features of the Partnership
- The program is built on the MedeAnalytics Health Fabric platform, which was launched earlier this month.
- Health Fabric operates on the Snowflake AI Data Cloud, enabling organizations to unify various data sources and optimize their existing infrastructure.
- The partnership seeks to modernize the measurement and financial impact of SDOH interventions.
Combined Strengths
This collaboration leverages the strengths of all three companies:
- Socially Determined’s SocialScape platform provides insights into how social risks affect individuals.
- MedeAnalytics Health Fabric integrates various data sources for comprehensive analysis.
- Mathematica’s Managed Action focuses on delivering financial and health outcomes to organizations.
Importance of SDOH Data
MedeAnalytics specializes in healthcare data analytics for providers, payers, and employers, focusing on:
- Value-based care
- Revenue cycle management
- Payer operations
- Employer benefits
Socially Determined offers analytics that highlight social risk factors, such as access to food, housing, and transportation, which significantly influence health outcomes.
Statements from Leadership
Steve Grieco, CEO of MedeAnalytics, emphasized the importance of leveraging SDOH insights in today’s healthcare landscape, stating:
“By integrating social determinants of health into a new social risk insights solution, we’re continuing our managed action mission of not just analyzing data. We’re transforming the data into actionable, actuarially verified intervention opportunities that produce hard dollar ROI.”
Trenor Williams, CEO of Socially Determined, noted that social causes drive 80% of health outcomes, highlighting the need for healthcare organizations to measure and manage the ROI of social interventions effectively.
Future Trends
In 2024, Socially Determined and Uber Health will collaborate to enhance access to food and prescription delivery services by utilizing SDOH analytics. This partnership aims to expedite transportation and improve access to essential items for beneficiaries of Medicaid and Medicare Advantage.
Additionally, Socially Determined has partnered with Datavant to provide life sciences companies with data on social risk drivers, further promoting health equity and improving patient outcomes.
Funding and Growth
In 2022, Socially Determined secured a $26 million Series B funding round, led by Questa Capital, with participation from existing investors such as LRVHealth and OSF Healthcare. The company previously completed an $11.1 million Series A funding round in early 2020.
Conclusion
This partnership between MedeAnalytics, Socially Determined, and Mathematica represents a significant step towards integrating social determinants of health into healthcare analytics, ultimately aiming to improve community health outcomes and advance health equity.