MCLEAN, Va. & ORLANDO, Fla.--(BUSINESS WIRE)--Verato, the identity experts for healthcare, today announced the award of a patent by the U.S. Patent and Trademark Office for its innovative third-generation Referential Matching™ technology.
The Verato exclusive Referential Matching approach has been third-party verified to deliver unparalleled person matching accuracy for the healthcare industry. Whereas other solutions directly compare demographic data from two person records to see if they match, the Verato patented approach matches demographic data from each record to a highly curated, comprehensive, and continuously updated reference database of identities. That database contains identities spanning the entire adult U.S. population—including a complete profile of demographic data spanning a 30-year history, as well as the identities of 9 million healthcare practitioners. Verato’s patented approach combines both the comprehensive reference database of identities and a proprietary matching algorithm that is designed to be aware of and act on the different nuances of a customer’s own identity records and the curated reference identities. With this approach, Verato Referential Matching technology can successfully make matches that other algorithms cannot, even if patient and provider demographic data is outdated, incomplete, or inaccurate.
Customers, such as VITL, the Vermont Health Information Exchange, have also measured the power of Verato’s exclusive Referential Matching approach. VITL reports that “many Vermonters see more than one clinician, most of whom submit patient data to the Vermont Health Information Exchange. Since installing Verato, VITL has demonstrated a cohort match rate increase from about 65% to greater than 95%.” VITL 2021 Annual Report.
Accurate linking of medical records from various sources plays a critical role in patient experience, care delivery, and patient outcomes, yet failure to do so remains a widespread problem across the United States. The rate at which patients are accurately matched to their medical records can be as low as 80% in a single care setting, and as low as 50% when electronic health information is exchanged between organizations. The Verato patented approach to Referential Matching is the next generation of patient matching technology that can help organizations close this gap. A study from the Regenstrief Institute found that referential matching demonstrates greater sensitivity and accuracy than more traditional, probabilistic approaches.
“As consumer expectations for data transparency and portability continue to expand and regulations are quickly adding financial stakes to the challenge of building complete and trusted person records, the accuracy of data management systems is critical,” says Clay Ritchey, CEO of Verato. “Verato Referential Matching empowers care teams with the knowledge of who is who, so they can make informed patient-centered decisions leading to better outcomes while improving the patient experience.”
For more information on the Verato patented approach to Referential Matching technology, visit https://verato.com/blog/what-is-referential-matching-a-primer/
About Verato
Verato enables digital engagement, clinical interoperability, cloud transformation and provider data integrity by solving the problem that drives everything else—Knowing Who Is Who™. The Verato hMDM™ platform, the industry’s first purpose-built healthcare master data management solution, enables a complete and trusted 360-degree view of patients, consumers, members, providers, and communities. Over 80 of the most respected brands in healthcare rely on Verato to connect, identify, enrich, manage and activate person and provider data across the complex digital health ecosystem with unprecedented accuracy, ease, and time-to-value. With a secure enterprise wide single source of truth for identity, Verato ensures that you get identity right from the start. For more information, visit verato.com.
