Insights
Learn About The Auto Casualty Medical Price Index in 2017
2 MIN READ
The National CPI for All Services, as reported by the Bureau of Labor Statistics in August 2017 is 120.9, which reflects a 1.7 percent decrease since Q1 2017.
Managing Medical Records is Key to Improving Third Party Claim Settlements
Documents that adjusters receive from attorneys or claimants related to third party claims are typically unorganized, inaccurately coded and seemingly stacked a mile high. It can feel like an insurmountable challenge to organize, digitize and understand every detail of the medical records, but processing a claim without first organizing, capturing the data and properly coding documents can make it difficult for an adjuster to efficiently reach the most accurate settlement.
When, Why, and How to Use Nurse Review on Third Party Medical Claims
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.
The Compliance Corner: Telemedicine: New Innovations in the Old Program
Telemedicine is the method of delivering health care electronically through applications like smart phones, email, and skype. Telemedicine started over 40 years ago with the intention of enabling health care providers, mainly hospitals, to provide services to patients in remote areas.
Mitchell Collision Repair Industry Data: Q2 2017
The initial average appraisal value, calculated by combining data from all first and third-party repairable vehicle appraisals uploaded through Mitchell systems in Q2 2017, was $3,046. Continued development suggests a final Q2 2017 average appraisal value of $3,143, which represents an increase of $122 compared to the same quarter last year.
Mitchell Total Loss Data Q2 2017
The chart below illustrates the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
Consumer Self-Service Expectations are the New Normal
In 2016, smartphone ownership for individuals 13 years of age and older surpassed 81% in the United States, effectively reaching full market saturation. The remaining 19% represent either “technology laggards,” unlikely ever to use smartphones, or those who are still in grade school and simply without a smartphone yet.