Milwaukee-based pharmacy data analytics firm Tricast Inc. has developed a technology that would help manage health care information in real time.
The technology is, the company said, an inexpensive, distributed, decentralized and elastically scalable alternative to “Big Data.”
It could be used to meet the need for a responsive health care information management tool required by the Centers for Medicare and Medicaid Services. The Tricast version would go a step further than some traditional Big Data solutions, which look at historical health care data, and provide up-to-the-minute real time data analysis.
With the real time data analytics Tricast’s software generates, only small amounts of pharmacy and healthcare results data would be stored—those that proved to be out of the ordinary.
“Better, faster, cheaper was our mantra during the development work on this; we can move from problem to solution in real time,” said Greg Rucinski, president of Tricast. “This quick, accurate analysis really pays off in the Medicare Part D arena. Turnaround time is critical to the effective management of fraud, waste and abuse and rejected claims monitoring programs, as well as concerns for patient safety.”
Tricast’s patent application on the product has been accepted by the U.S. Patent and Trademark Office.
“We’re excited about our work,” Rucinski said. “It keeps us in step with healthcare reform and the industry’s desire for timely reporting.”
