issue 008, 2017

Emerging technology – Advanced analytics put risk managers one step ahead

BY Jason Landrum Chief Information Officer, Sedgwick

Those responsible for mitigating workers’ compensation losses for employers know the difficulties of translating claims data into actionable information. With claims systems capturing so many points of data in connection with each on-the-job injury and the subsequent delivery of care, the resulting flood of information can be overwhelming.

This data challenge is why Sedgwick brought together an interdisciplinary team – including subject matter experts from our workers’ compensation practice, managed care and technology groups – to tackle this critical business challenge. The result of the collective efforts is the integration of best-in-class analytical capabilities into our proprietary viaOne® suite of injury and productivity management tools.

The new reporting dashboard provides access to intuitive functions that guide data analysis and display information at multiple levels, from summary trending to fine data elements. Advanced analytics allow our clients to harness the power of big data and easily identify and visualize program performance trends and outcomes. Our unique reporting tools are designed to help risk managers proactively align their loss control strategies with the performance of their individual programs. 

The ability to quickly and effectively identify key cost drivers fosters continual root cause analysis. A variety of key performance indicators (KPIs) isolate specific data trends to facilitate efficient and reliable program management. Examples of KPIs include factors such as place of loss (state, business unit, location); injured worker profile (age, tenure, co-morbidities) and accident characteristics (cause, nature, body part).

What truly sets Sedgwick’s advanced analytics solution apart is the full integration of managed care data into the claims reporting system. Even though industry professionals often talk about tactics like utilization review, complex pharmacy management and provider benchmarking as ancillary to the workers’ compensation process, they are primary drivers of cost savings for employers. Our philosophy that managed care solutions are the keys to a solid risk management strategy drove our commitment to building advanced analytics that, unlike traditional systems, have the capacity to bring all of the data elements together in one place. The ability for Sedgwick’s customers to combine their claims data with managed care metrics empowers them to be more proactive about their program decisions and puts them one step ahead of outcome trends.

Charts include generic employer data

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One area in which our new reporting tools can be especially helpful is curbing injured employees’ use of opioids to manage pain. The epidemic of opioid abuse has received a lot of attention in recent months and employers are struggling with the financial and human toll of increasing drug addictions following painful workplace injuries. With Sedgwick’s advanced analytics solutions, our customers can view their employees’ opioid use at the claim level. Trends can be evaluated in areas such as job description, work location and prescribing provider. This kind of actionable information allows us to work hand-in-hand with employers on the interventions needed to reduce disability durations and safely get employees back to healthy and productive living.

Sedgwick’s advanced analytics platform does more than a lot of number crunching; it puts the power of claims data into the hands of risk managers and other professionals uniquely positioned to have a positive impact on the lives of injured and ill employees.