Mumbai, 5th December 2022: HealthWorksAI, an industry-leading B2B SaaS healthcare analytics company today announced 100% customer renewal rate for the year and addition of over a dozen new enterprise clients in 2022. The phenomenal growth trajectory is the result of the company’s initiatives for greater agility in responding to evolving market needs in its wide range of data analytics product portfolio. HealthWorksAI™ is one of the leading healthcare data analytics companies in the US providing healthcare payers with rapid access to actionable insights for expansion in Medicare Advantage.
Research shows that product and provider network design are two of the most important factors in driving enrollments in Medicare Advantage. HealthWorksAI offers a range of analytical product solutions for strategic decision making such as xAI, NetworkIntel, ProductIntel and MarketIntel, which are among the top products that the company offers.
Design of benefits and its impact on downstream metrics like enrollments and profitability is a complex balancing act. In its range of initiatives, for its clients, the company is focusing on going beyond identifying the significant benefits for each market, the solutions can now prescribe the exact costs at which the significant benefits including the supplemental benefits should be offered. These inputs are crucial for payers to optimize its resources to deliver the highest ROI to its beneficiaries
The presence or absence of specific doctors and hospitals are known to be a significant factor in choosing a health plan. As payers design their provider networks, they often drill down to specific physician groups and NPIs. Working on NetworkIntel, the company has enhanced its offerings to include Network Scorecards, Network Compare and NPI Search tools.
The company has successfully onboarded several new-age companies, regional players, host of Blues, and a large national player to its portfolio of clients.
HealthWorksAI has constantly adapted to the growing needs of the customers and worked on enhancing these portfolios as per the changing market dynamics. The company recently released Service Area Expansion (SAE), which provides the ability to objectively decide which markets should a health plan expand into. The decision pivots on the network, plan, and market dynamics of the counties.
Arvind Nagpal, Founder & CEO, HealthWorksAI said, “The market for data analytical solutions is constantly evolving in the healthcare sector and the customer requirements are changing rapidly. As a healthcare analytics company, our job is to upgrade and improve our offerings to remain competitive and relevant in the industry. We have always believed that our best ideas will come from our customers. With our Product First strategy, we are able to quickly translate customer voice into an actionable product roadmap with quarterly release cycles. This strategy has worked in keeping our products ahead of the market and deliver increasing value to our customers. Achieving 100% customer renewal rate is a testament to the success of our Product First strategy. A big thank you to all our customers who have been true partners and source of inspiration in our journey. We have also doubled our team strength in the last 18 months and will continue to hire the best talent that aspires to build products at the intersection of business, math, and technology.”
HealthWorksAI™ is a privately held healthcare data analytics company known for delivering insights at the speed of business. It provides healthcare payors with rapid access to very efficient and insightful Medicare Advantage market insights, accurate predictions, and a reliable single source of truth for strategic decision-making. It is the only company in the industry to accurately predict the enrollments for all the health plans down to the county level within 72 hours of the CMS' (Center for Medicare and Medicaid Services) big reveal on October 1st every year.