Alternative therapies are mentioned often by participants in the workers compensation sector trying to manage injured workers' pain while shifting away from the industry's dependence on opioids — and acupuncture is the talk of the town.
Alternative therapies are mentioned often by participants in the workers compensation sector trying to manage injured workers' pain while shifting away from the industry's dependence on opioids — and acupuncture is the talk of the town.
One of the biggest challenges that the workers’ compensation industry faces today is the continuous rise in medical costs. As a result, the industry fights for improved efficiencies and cost containment, and injured workers can often get lost in the shuffle. Until now, most employers have focused on containing costs and reducing days lost, representing a more transaction-centric approach.
Vehicle complexity has exploded in the last decade, and continues to accelerate. Collision repair used to be about sheet metal, headlamp and bumper replacement; now it frequently involves sophisticated electronics. From adaptive front lighting to regenerative braking, today’s auto body repair includes increasingly complex systems and electronic components.
Recently, it’s been said by many in the IT Industry that ‘the perimeter is dead’. But what, exactly, does that mean? Think of it this way: it hasn’t been that long since all users, devices and applications were corralled into a closed network with defined entry and exit points. Essentially, the ‘wagons were circled’ and a firewall could be built to protect the perimeter.
When third party auto casualty claims are extremely complex, for example, when multiple providers are treating a claimant, the claimant has pre-existing conditions or the claim has been open for an extended period of time, insurance carriers benefit by bringing in medical professionals to perform claim reviews. An organization of trained nurses can be an invaluable tool in a third party adjusters’ toolbox.
Having access to a database with a transparent methodology for deriving provider market rates and insurance information serves as a valuable asset in the P&C industry for organizations largely involved in the healthcare market. Healthcare claims data is integral in helping identify and monitor trends in the healthcare market.
Artificial intelligence (AI) has the potential to profoundly impact the insurance industry. Although I would be challenged to explore all the potential use cases for it in a single blog post, I do want to take a look at how it is changing the way consumers interact with their insurance company and the ability of insurance companies to deliver optimal claims experiences—and ultimately, better outcomes.