Insights
Using an Advanced Medical Bill Review Platform to Improve Third Party Outcomes
5 MIN READ
Some auto casualty insurance carriers’ workflows are missing a key part of an end-to-end third party solution – an advanced medical bill review platform. Though bill review is traditionally thought of as a specifically first party or workers’ compensation solution, it can also make an impact on third party claims.
Using Data Analytics to Optimize Insurance Claims Management
For insurance carriers, finding ways to capitalize on the growing volume and velocity of information being generated and collected in their claims systems and operational databases is a critical challenge. Today’s overabundance of data can be an asset. However, without the professional expertise to turn this disparate data into actionable optimization and measurable intelligence, the data is powerless.
Mitchell Canadian Collision Summary: Q1 2017
This data is the product of upload activity from body shops, independent appraisers, and insurance personnel, more accurately depicting insurance-paid loss activity, rather than consumer direct or retail market pricing.
Mitchell Canadian Collision Summary: Q2 2017
This data is the product of upload activity from body shops, independent appraisers, and insurance personnel, more accurately depicting insurance-paid loss activity, rather than consumer direct or retail market pricing.
Mitchell Collision Repair Industry Data: Q1 2017
The initial average appraisal value, calculated by combining data from all first and third-party repairable vehicle appraisals uploaded through Mitchell systems in Q1 2017, was $3,018, $4 less than this same period last year. However, continued development suggests a final Q1 2017 average appraisal value of $3,047, which represents an increase of the same quarter last year.
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: Q1 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.
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