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BETA Healthcare Group has selected Milliman Datalytics-Defense, owned by Milliman, as its platform for processing its defense cost invoices.
Datalytics employs data mining algorithms to help insurers detect patterns in attorney billing practices, delivering better understanding of both costs and defense strategies.
"It's BETA's goal to find innovative strategies to mitigate risk and reduce costs when it comes to managing our business," says Tom Wander, chief executive at BETA Healthcare Group. "Partnering with Milliman Datalytics-Defense helps us make more well-informed, data-driven decisions in our defense strategies, something we believe is essential to remain a leader in the industry."
Milliman Datalytics-Defense provides real-time, actionable intelligence through responsive reporting dashboards that are built upon a robust data warehouse. The web-based tool is available on a subscription basis and can perform peer comparisons, allowing insurers to credibly benchmark their defense costs. The tool's predictive analytic engine helps insurers develop best practices of claims defense.
"BETA has a reputation as a forward-thinking organization that knows success in the industry today must include cutting-edge tools such as Datalytics to manage claims effectively and efficiently," says Chad C. Karls, Milliman principal and consulting actuary. "We look forward to working with BETA to identify claims handling strategies that will benefit not only BETA, but ultimately their members/insureds."
BETA Healthcare Group, Milliman Datalytics-Defense, Data analytics, US