About 10% of members switch medical insurance plans each year on average according to the Kaiser Family Foundation. If we assume that the revenue per member is around $800 per month, a 10% churn rate in a plan of 100,000 members, results in $96 million in lost reimbursements. Alternatively, an ability to reduce churn by, say 1%, would increase revenue by $9.6 million dollars per year in the same plan.
In this solution brief we describe how healthcare companies can use graph analytics to improve the satisfaction of their members. Graph analytics can be used, for example, to monitor the wellness journeys of members while also recommending specific actions that can positively influence their care paths.
TigerGraph is the only scalable graph database for the enterprise. Based on the industry’s first Native and Parallel Graph technology, TigerGraph unleashes the power of interconnected data, offering organizations deeper insights and better outcomes. TigerGraph fulfills the true promise and benefits of the graph platform by tackling the toughest data challenges in real time, no matter how large or complex the dataset. TigerGraph’s proven technology supports applications such as fraud detection, customer 360, MDM, IoT, AI and machine learning to make sense of ever-changing big data, and is used by customers including Amgen, China Mobile, Intuit, Wish and Zillow, along with some of the world’s largest healthcare, entertainment and financial institutions.
TigerGraph is the only system today that can help us make real-time care-path recommendations using knowledge of 50 million patients. Your products will have worldwide impact on making everyone’s lives better in more ways than you can imagine.