Picwell Launches Data Analytics Platform for Health Care Industry
The platform combines big data, predictive analytics, behavioral economics and machine learning with consumer-friendly user interfaces.Picwell, a recommendation engine to use predictive analytics to rate consumer health plan options according to individual needs, announced its official launch. The platform combines big data, predictive analytics, behavioral economics and machine learning with consumer-friendly user interfaces and engagement tools that integrate into health care exchanges and benefits platforms. The end result enables exchanges to quickly and seamlessly organize and analyze more than 900,000 variables that affect plan selection and present the highest recommended plans to participants based on their individual needs. "Health is an extremely complex business with a lot of white noise and fuzziness. It's easy to compare a unit cost to a unit cost. What's not easy is when you bring in lifestyles, personalized medicine and quality—which are all relatively vague," Jay Silverstein, CEO of Picwell, told eWEEK. "Picwell is trying to build models with all the power of big data so that a consumer avoids having to be an expert in every nuance of health plan selection. If a tool doesn't make things easier, better, simpler, faster for the consumer in a way that consumers can understand, then it really isn't achieving its full value."
Before leading Picwell, Silverstein formerly held executive roles at UnitedHealthcare, Oxford Health Plans, HealthNet, Revolution Health and most recently, Medco Health Solutions.