From the perspective of analysis of claim data, it helps to consider STD and LTD as one process, rather than just focus on LTD only, where the big reserves are. We need to ensure that we are not missing an opportunity to get an individual back to work as soon as possible, before ‘not working’ becomes a default mindset.
The Claim Lab’s analytical models analyze each claim and direct it to the appropriate segment.
The best Claim Managers need to be focused on the claims that are likely to transition to LTD. The more accurately these claims can be identified, the more effective the process will be, and this is where more data is needed!
Collect More Data
Questionnaires have historically been used for this task (you may already have a few of them), but our work with ‘psychometric questionnaires’ can provide greater insight into a claimant’s situation.
The Claim Lab can help you build electronic versions of these forms, so the data can be fed into a database and used by the analytics function. These questionnaires are designed specifically to assess levels of depression/anxiety, motivation, job satisfaction, and more.
Personalized Claim Management
The objective is to gain greater understanding and insight of the individual behind the claim, and enable the database to drive more sophisticated models. This will take us beyond a discussion based around diagnoses and medical information, to a new ‘individualized’ approach to claim management.
Just recently there was a great feature on NPR about “Personalized Medicine”, providing an example of this approach being used in healthcare. Click here for article.
Can this be done for claim management?