What Patel and his team of around 90 full-time employees aim to do is break down those silos and free up data to be used by different stakeholders in the industry. While claims data is housed in one area, for example, membership and enrollment are in another, and procedure- authorizations in yet another. The problem is that this information is often locked in dispersed legacy technology systems and is hard to share. These insurers have been bundling tons of data over decades, every time their members visit a doctor or hospital, undergo a test, or file a claim. The company initially focuses on payers, such as health plans, Medicare and Medicaid, that set service rates, collect payments, process claims and pay provider claims. Patel is the founder and chief executive officer of Abacus Insights Inc., a startup with an intelligent data platform that harnesses the healthcare data explosion to allow patients, insurers and healthcare providers to make better decisions. Almost three decades later Patel is doing exactly that, but in a very different way than he ever imagined. When Minal Patel first entered medical school, his aspiration was to solve health problems and make an impact in patients’ lives. This feature is part of theCUBE’s ongoing CEO Startup Spotlight series. We recently spoke with the chief executives of companies that participated in the recent AWS Startup Showcase: The Next Big Things in AI, Security & Life Sciences to find out what drives them and learn about their visions for the future.
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