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Case Studies > Royal Philips Electronics fuels regulatory compliance and customer data accuracy with the Provider MasterFile™

Royal Philips Electronics fuels regulatory compliance and customer data accuracy with the Provider MasterFile™

Technology Category
  • Application Infrastructure & Middleware - Data Exchange & Integration
  • Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
  • Healthcare & Hospitals
  • Professional Service
Applicable Functions
  • Business Operation
  • Sales & Marketing
Use Cases
  • Regulatory Compliance Monitoring
Services
  • Data Science Services
  • System Integration
The Challenge
The compliance professionals at the Philips Healthcare division were vetting solutions to comply with the U.S. Physician Payment Sunshine Act, as well as state-level reporting. Their existing manual process to address the requirements of Vermont and Massachusetts state transparency laws was inefficient and cumbersome. Whatever solution the team decided upon, they understood that the quality of their customer data would impact compliance. Given the complexity and expense of managing customer data in-house, they approached LexisNexis® and several other vendors. The priorities were the following: Compliance - Improve the quality, depth and breadth of their customer master, which served as the foundation for regulatory reporting. Customer Satisfaction - Mitigate the risk of damaged customer relationships as a result of inaccurate reporting. After a rigorous evaluation process, which included an initial data quality assessment to understand the scope of data available, Philips identified the customer attributes that were most important to them: State license, Sanctions, NPI, Teaching hospital flag, Mass ID-covered recipient.
About The Customer
Royal Philips Electronics (Philips) is a global, diversified health and well-being company and leader in health care, consumer lifestyle, and lighting. Philips operates in over 100 countries and employs approximately 80,000 people worldwide. The company is committed to improving people's lives through meaningful innovation in the areas of healthcare, consumer lifestyle, and lighting. Philips Healthcare, a division of Royal Philips Electronics, focuses on delivering advanced healthcare solutions that improve patient outcomes and enhance the quality of care. The division offers a wide range of products and services, including diagnostic imaging systems, patient monitoring systems, and healthcare IT solutions. Philips Healthcare is dedicated to addressing the challenges faced by healthcare providers and ensuring compliance with regulatory requirements to maintain high standards of patient care and safety.
The Solution
After careful consideration, Philips chose LexisNexis® for their Provider MasterFile. LexisNexis® was able to demonstrate the ability to audit and rapidly validate a highly dynamic provider universe that experiences the following monthly changes: 45,000 state license status changes, 30,000 address changes, 23,000 new NPIs, 40 additional OIG prescriber sanctions. Philips opted for full access to the Provider MasterFile, including: Health care professionals (HCPs), Health care organizations (HCOs), HCP and HCO affiliations, Quarterly data updates. With the Provider MasterFile, Philips was able to streamline their data management processes and ensure the accuracy and completeness of their customer data. This allowed them to focus on improving system interoperability by integrating travel and expense, purchase orders, and a proprietary system used to capture all other spending. The result was a more seamless process and a better handle on regulatory reporting.
Operational Impact
  • Significant reduction in data management costs.
  • High quality customer data in reporting systems and sales operations.
  • The ability to identify and track complete and accurate U.S. spend on 10,000 unique HCPs and HCOs for the first time.
Quantitative Benefit
  • 45,000 state license status changes managed monthly.
  • 30,000 address changes managed monthly.
  • 23,000 new NPIs managed monthly.

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