Undertaking data analysis helps organizations identify new opportunities, improve operations, and mitigate business and financial risks. Government regulators view the use of data analysis as a powerful tool in combatting fraud, waste, and abuse facing various industries, such as healthcare. More labor intensive fraud detection tools, such as auditing and investigations, can prove costly to an organization with modest profit margins. As a consequence, the scarcity of valuable resources makes data analysis a key fraud fighting tool, if used efficiently, to identify patterns, trends, and anomalies.
Organizations have volumes of data at their disposal yet no clear plan to analyze or mine it due to the resource committments needed to meet the daily workload demands. Analyzing data available from multiple sources makes it challenging to make connections among such data if one lacks the subject matter expertise to design and execute a plan expected to produce outputs, outcomes, as well as actionable information. Clients and stakeholders expect industries to analyze and mine data to improve operations, products, and services.
Aridell can help any organization implement an effective data analysis program or provide these services directly to clients. Our firm possesses experienced subject matter experts in conducting quantitative and qualitative data analysis of big data, such as healthcare and pharmacy claims, which has yielded successful outcomes. Past experience extends to designing data analysis plans and strategies for clients needing to mitigate business and financial risks or identifying opportunities for overpayment collections.
A single, data analysis method, such as predictive modeling, is not a standalone problem-solving tool to address all operational issues. Aridell understands this critical point and, as a consequence, creates and utilizes data analysis strategies and methods tailored to efficiently and effectively meet a client’s needs and desired expectations and outcomes. Following this approach, subject matter experts have yielded their past clients individual financial recoveries exceeding more than $80 million.
Aridell’s capabilities include:
Designing Data Analysis Plans and Strategies
Conducting Quantitative and Qualitative Data Analysis
Designing and Monitoring Edits
Establishing and Implementing Data Analysis Protocols
Risk Assessment and Mitigation Strategies
Data Source Identification
Aridell Associates, LLC