BETA Healthcare Group teams with Milliman Datalytics-Defense to develop data-driven defense strategies
SEATTLE, Feb. 21, 2017 /PRNewswire/ -- Milliman, Inc., the premier global consulting and actuarial firm, today announced that BETA Healthcare Group has chosen Milliman Datalytics-Defense® as its platform for processing its defense cost invoices. Datalytics employs powerful 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 Officer 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."
To learn more about Milliman Datalytics-Defense, go to http://us.milliman.com/Solutions/Products/Milliman-Datalytics-Defense/.
About BETA Healthcare GroupBETA Healthcare Group is the largest professional liability insurer of hospitals in California, providing coverage to more than 200 hospitals and healthcare facilities as well as nearly 6,000 physicians and more than 50 medical groups. In addition, BETA provides workers' compensation coverage for over 40,000 healthcare workers. BETA has earned a reputation for financial strength, rate stability, quality service and breadth of coverage that is unparalleled in the industry. For further information, visit betahg.com
About MillimanMilliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit milliman.com.
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SOURCE Milliman, Inc.