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Combat rising workers’ compensation insurance costs with data-driven benchmarks and targeted early intervention.
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.
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.
Identify and address excessive utilization and unit cost quickly.
Maximize the value of your staff by quickly identifying cases with excessive utilization and payment levels.
Benefit from Group Health and WC data and benchmarks enriched by Milliman experts including actuaries, clinicians, and claims professionals.
Exclusive access to detailed Group Health medical benchmarks, available to the WC industry only through Nodal Medical Benchmarking for Workers' Comp.
Quickly identify medical services higher than Group Health benchmarks based on structured and unstructured medical data.
Use benchmarks based on Milliman’s enriched Group Health database, which contains the cost of analogous treatment and episodes to WC.
Access macro-trend analysis in a web-based tool and track KPIs with ease.
With U.S. inflation hitting a 40-year high, workers' compensation claims could…
With medical expenses in workers’ compensation continuing to rise, data is…
See how you can use AI to predict claim outcomes based on underutilized data.
See how Nodal helps IRMA reduce costs and improve claim management.
Milliman, Inc., a premier global consulting and actuarial firm, is pleased to…
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