Benchmarking and Predictive Analytics

Nodal Medical Benchmarking

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

The challenge

Workers’ compensation (WC) insurance claims are increasingly expensive and prone to unexpected costs

On average, WC payers spend 20% more than Group Health payers for the same medical services. WC medical costs continue to trend at rates higher than inflation. Despite the critical nature of medical care management, WC payers have little insight into comparable market rates in Group Health.

The solution

Leverage Milliman’s enriched Group Health data and claims AI to reduce WC medical costs

Nodal® Medical Benchmarking for Workers' Comp helps clients proactively manage their WC medical spend by leveraging Milliman’s proprietary Group Health database. Nodal Medical Benchmarking for Workers' Comp compares the cost of WC medical services to Group Health, allowing clients to identify opportunities to better manage medical costs.

BENEFITS

Nodal Medical Benchmarking benefits

Reduce costs

Identify and address excessive utilization and unit cost quickly.

Identify outliers faster

Maximize the value of your staff by quickly identifying cases with excessive utilization and payment levels.

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 insights

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

Automated benchmarking

Quickly identify medical services higher than Group Health benchmarks based on structured and unstructured medical data.

Industry-leading data

Use benchmarks based on Milliman’s enriched Group Health database, which contains the cost of analogous treatment and episodes to WC.

Dynamic reports

Access macro-trend analysis in a web-based tool and track KPIs with ease.

We’re here to help

Ask the tough questions. We’re ready for them.