Florida-based MEDai, a provider of advanced solutions for healthcare, is aiding underwriting with its Risk Navigator Financial.
Risk Navigator Financial can enhance the workflow of underwriters and actuaries in healthcare by providing risk predictions which result in the right groups receiving increases or decreases in their rates. The module improves the renewal process for mid-size groups, enhances new group underwriting, assists with stop loss pooling, and supports account management reporting. Using these four key points of functionality, organizations will retain groups by providing the rates that are appropriate for the risk level of the population and by providing the group with useful information regarding their healthcare spending.
However, payers can manage their groups during the benefit year using statistics which report changes in risk and cost since renewal. Intervention on groups with rising cost and risk will have a positive impact on the loss ratio for not only the block of business, but also the individual employer group.
Steve Epstein, CEO of MEDai, said: MEDai offers state-of-the-art business intelligence solutions. Risk Navigator Financial addresses the challenges being faced by actuaries and underwriters in healthcare. Our solution is a vehicle that can be used to match revenue to expenses, improve loss ratio, and increase staff productivity. The key is offering cost-effective solutions that allow clients to unlock the power of their healthcare data; and we provide that.