Today, carriers must overcome several obstacles to extract organized, actionable insights from medical records and bills. 25% of medical text is handwritten, often leading to difficulties in understanding illegible handwriting. Additionally, the fact that 75% of claims information exists as unstructured data can make finding the relevant information within a claim a struggle. Time constraints lead to approximately one-third of medical records going unread, and 8-12% of settlement payments are inaccurate. All this is compounded by rising expenses, which are expected to increase by 3-5% annually.
MedConnection solution highlights
Client testimonial: Profiting from MedConnection
We had a challenging and complex claim and using EXL’s MedConnection was highly beneficial to us. We had a claim for a woman with hurt knee and ankle who underwent 3 surgeries. The bills were sent to an adjuster over several months and were a disaster to follow. The claimant had said that the medications were over $100,000. After submitting to EXL, they found that only $42,118 was incurred with $22,562 written off. The net amount of specials was $16,250. We had limits of $500,000 and EXL’s MedConnection helped us settle for $65,000.
District Claims Manager | Auto, Home & Life Insurance Company
Brad leads EXL’s Insurance Platform Services business unit with overall responsibility for delivering solutions and services to meet our insurance clients’ needs. With over 30 years of experience in technology, strategy, and operations, Brad’s focus is on combining technology and services to deliver distinctive capabilities. Brad has over 15 years of Insurance industry experience combined with a rich technology and operations background. Brad joined EXL in 2011 as a part if the acquisition of The Hartford Insurance Group subsidiary, Trumbull Services, of which he was the President.
Sandeep Juneja is Vice President with P&C Insurance Platform Services at EXL. He has spent over 22 years in the field of Insurance & Financial services outsourcing, Transformation, Operations Management and M&A. Sandeep has led large projects combining Technology, Operations and Analytics to deliver value for clients across North America and APAC. He has complete his bachelors in Accounting and Masters in Financial Management and International Finance.
Arun leads EXL’s Digital Intake and Content Extraction Services with overall responsibility for delivering solutions and services to meet our clients’ needs. With 20 years of experience in Operations, Technology and Strategy, Arun’s focus is on combining Domain, Digital and Technology to deliver distinctive capabilities. Arun joined EXL in 2007 and since then has worked with multiple global insurance carriers across multiple geographies spearheading Operations Management, Transformation and Process Excellence.
Note: * – Patent Pending