Benchmarking and Predictive Analytics
Nodal Medical Benchmarking
Combat rising workers’ compensation insurance costs with data-driven benchmarks and targeted early intervention.
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.
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.
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.
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.