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Benchmarking and Predictive Analytics

Nodal Medical Benchmarking

Combat rising workers’ compensation insurance costs with data-driven benchmarks and targeted early intervention.

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The challenge

Workers’ compensation claims are increasingly expensive, with limited visibility into comparable group health benchmarks

On average, WC payers spend 60 to 100% more than Group Health payers for the same conditions. Despite the critical nature of medical management, WC payers have little insight into their peers in Group Health.

The solution

Leverage Milliman’s proprietary group health benchmarks to identify excessive medical spending in WC

Nodal Medical Benchmarking helps clients compare WC outcomes to Group Health for the same conditions on a risk-adjusted basis. These benchmarks are based on Milliman’s proprietary Group Health database. These benchmarks bring transparency and allow WC payers to identify opportunities to reduce medical costs.

Business Innovation Awards 2023 logo

Milliman Nodal named 2023 Innovation Award winner

Milliman’s Nodal Medical Benchmarking for WC was carefully chosen by an independent panel of professional risk managers who truly understand excellence in the field. This award highlights the unwavering commitment to delivering cutting-edge products and services to the industry.

BENEFITS

Nodal Medical Benchmarking benefits

Reduce costs

Identify and address excessive utilization and unit costs quickly.

Strategic insight

Identify drivers of excess medical spending and collaborate with Milliman consultants to develop strategies to reduce costs.

Trust built-in expertise

Benefit from Group Health and WC data and benchmarks enriched by Milliman experts including actuaries, clinicians, and claims professionals.

Market-leading data

Exclusive access to detailed Group Health medical benchmarks, available to the WC industry only through Nodal Medical Benchmarking for Workers’ Comp.

Features

Nodal Medical Benchmarking features

Treatment benchmarks

Use benchmarks based on Milliman’s enriched group health database for conditions frequently found in WC.

Provider ratings

Evaluate provider performance and find the highest-performing provider near an injured worker.

Automated benchmarking

Compare and monitor medical costs for open and closed claims compared to group health benchmarks.

Dynamic reports

Access all data in a web-based tool and easily track KPIs and trends.

Main dashboard overview

Automated benchmarks

Automated benchmarks

Medical cost benchmarks are updated automatically as new information emerges throughout the course of treatment.

Resources

Nodal related resources

Infographic

How does inflation affect workers’ compensation?

U.S. inflation hit a 40-year high in 2022. Because of worker's compsenation claims take a long time to settle, they are particulary vulnerable.

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Article

Medical benchmarking: Comparing WC claims to group health to lower your medical costs

With medical expenses in workers’ compensation continuing to rise, data is the key to developing reliable frameworks to understand and benchmark the costs.

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BROCHURE

Milliman Nodal brochure

See how you can use AI to predict claim outcomes based on underutilized data.

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Infographic

Depression in workers’ compensation claims

A recent Milliman analysis using Nodal found that depression is likely underreported in workers’ compensation claims.

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Learn more about Nodal Medical Benchmarking

Connect with our team to schedule a demo.