Workers’ Comp Claim Scoring and More
Predictive Scoring of Workers’ Compensation Claims
Want to know which injured worker is most likely to be one of the top 10% that counts for 90% of your total incurred costs? Lodestar can tell you as early as when the claim has been submitted. Need more advanced insights? Lodestar can also score your claims throughout their life against other risk models tailored to predicting the outcomes most important to you.
Data Visualization
You’ve implemented predictive claim scoring. Congratulations! You just created several dozen more data points to study alongside all of your other claim data. Lodestar can help you to untangle your data, predictive or otherwise, to get out of the pivot table purgatory that you’re currently stuck in and achieve business intelligence bliss.
How Does Claim Scoring Work?
Lodestar Insights provides an on-demand claim scoring system capable of predicting workers' compensation claim risks with data from first reports of injury.
With as few as 11 data points, you'll find the 10% of your claims that generate 90% of your total incurred cost.
Lodestar can extract directly from your data warehouse and provide scoring results directly to your claims or risk management systems.
Imagine what you could do with the worst 10% of your claims if you could identify them as soon as they were reported...
Need more predictive power? No Problem.
Looking for more advanced predictions? Reserve Guidance? Medical Severity of claims based on ICD 10 data and other comorbidities? Text sentiment analysis on notes, emails and diaries? Lodestar can deploy models for these predictions as well.
