Data’s day has arrived: How the data we own can improve the handling of medical malpractice claims

A healthcare entity teamed with the correct insurance risk consultant and the proper carrier can collectively utilize its own data to improve claims outcomes and insurability. Gallagher’s latest whitepaper looks at the depth of data surrounding healthcare professional liability claims and the valuable insight it provides. It also outlines a step-by-step strategy for transitioning to a data-informed claims approach.

Historically, the ability to effectively leverage claims department data has been restricted to information technology experts. But claims managers now have the ability to mine their own systems in real-time and transitioning to a data-informed claims approach requires little operational change.

The challenge is not gathering more data, but accessing, organizing and aggregating data that already exists. Meeting the challenge requires clean data, a tool to mine the data, and the open-mindedness to embrace a novel approach.

In addition to improving claims operations, the benefits of a data-informed claims department include healthier, more consistent valuation of claims, earlier recognition of trends and the ability to take preventative steps to mitigate risks.

Backed by more than 90 years of insurance, risk management and consulting experience, Gallagher’s Healthcare practice can help ensure a smooth transition to a datainformed claims approach while providing the knowledge and resources you need to keep up with emerging insurance trends.

The challenge is not gathering more data, but accessing, organizing and aggregating the data that already exists.”

DOWNLOAD THE WHITE PAPER modernhealthcare.com/perspectives_Gallagher