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Manage the risks of your in-force and on-claim population with the right intelligence
Growing LTC costs create strain for payers trying to manage these risks. LTCI carriers invest substantial resources to pursue needed rate increases and to reduce claims fraud, waste, and abuse. These efforts alone may not suffice in the long run.
LTCI carriers know very little about their in-force population, years after policies were issued. This knowledge gap makes it difficult to proactively manage the health and claims of the most at-risk policyholders that is needed to improve ROI.
Milliman LARA™ leverages the industry-renowned expertise of Milliman consultants to uncover powerful insights about your LTCI population. It uses predictive analytics, LTCI claims data, and proprietary data sets to identify your high-risk policyholders before they reach severe stages of LTC needs. Early intervention empowers you to drive better health outcomes - improving a policyholder’s quality of life by helping them age in place. Using a targeted solution to these interventions drives ROI.
Milliman LTCI consultants develop predictive models using actual historical LTCI claims, appended with powerful third-party and other proprietary data. This approach provides a new layer of intelligence and insight for insurers to understand the current health, risks, and needs of their in-force policyholders.
Milliman LTCI consultants from around the US have spent a combined 100+ years leading the LTCI industry in creating solutions and managing risks. We are proud to be on the forefront of the next revolution in managing LTCI risks, collaborating with our clients to protect the health and well-being of policyholders.
We train predictive models using actual LTCI claims data to quantify future claim risks.
We reference prescription drug history and medical, social, and economic data to get the fullest picture of the current condition of each policyholder.
Through decades of partnership, Milliman has built trusted relationships with LTCI insurers that we’ve built with decades of partnerships. We are happy to bring a new solution to fortify this market.
Milliman works with insurers and legal teams to provide data insights in compliance with state and federal laws and regulations, including HIPAA.
With the ability to target interventions to your most at-risk members, you can help enhance quality of life, delay the need for LTC, and build better relationships with regulators and the public.
Receive risk analysis on your entire in-force block of policies with advanced risk scores so you can make informed, strategic decisions.
We created the Milliman Long Term Care Guidelines, the industry’s trusted source based on more than $50 billion worth of claims, enriched with advanced subject-matter expertise. You benefit from this rich source of insights with Milliman LARA.
Milliman is working closely with insurers and care providers to expand the Milliman LARA dataset and bring together organizations who can benefit from one another’s expertise. Get in touch to learn more about how you can become part of our network.
One strong step in making long-term care (LTC) an acceptable, insurable risk for insurance companies is to better understand the latent morbidity risk in advance of an LTC need.
Robert Eaton and Missy Gordon discuss their emerging research into LTC population management techniques, wellness programs and interventions, and modernizing how LTC insurers approach the claims process.
Milliman, Inc., one of the premier global consulting and actuarial firms,
today announced that its Long-Term Care Advanced Risk Analytics (LARA) group has formed a strategic
alliance with The Helper Bees, a care concierge…
Manage Medicare, Medicaid, and commercial risk adjustment with our award-winning suite of tools and data.
Predictive analytics, IoT, health data, and support networks come together to create personal and population-level insights, enabling early detection and intervention of adverse health events and chronic conditions.
Ask the tough questions. We’re ready for them.