PointRight Inc. announces its new loss evaluation service, ClaimAnalytics, which applies predictive data analytics to measure, assess and proactively defend litigation risk for long-term care providers and their insurance carriers. ClaimAnalytics is a defined loss evaluation service that documents the history of care for any claim and provides insight to strike the right balance between defending a claim or settling it.
ClaimAnalytics is a proactive approach to claims handling that provides analytics to support an early investigation of all claims and reportable events beginning with triage and following through defense strategy, and helping facilities realize a lower total cost of risk (TCOR). Providers can be prepared by setting accurate reserves against a claim early.
"PointRight's goal is to provide analytics for mediation negotiation so that claims can be settled well below the reserve and clients recognize a significant ROI, and ClaimAnalytics delivers," said Mary Chmielowiec, Executive Vice President, Insurance, PointRight. "Claims administrators can now distinguish themselves with speed and accuracy, and attorneys and carriers can differentiate themselves with our unmatched analytics, all at a reduced claims expense."
ClaimAnalytics' defense models, together with public data benchmarks and resident MDS data, contribute to an analytics-driven process that puts claims into context and filters out cases based on emotion rather than fact. ClaimAnalytics also offers additional analytics support for negotiations of defense strategy and expert witness testimony to deliver a comprehensive approach to claims handling.