EXL MY SOCRATES™
EXL MY SOCRATES™
EXL MY SOCRATES™
Streamline subrogation workflows and case management for improved recovery and lower member abrasion with EXL’s highly scalable data-driven platform
Get more out of your subrogation process
Subrogation is about making sure the correct party is ultimately responsible for paying the claims associated with an accident or injury. Yet many health plans fail to recover the correct funds associated with a loss. Investigations go incomplete. The responsible parties are not identified. Or, without an effective identification and case management platform, details get overlooked, errors occur, and time runs out.
Unrecovered payments don’t have to be a cost of doing business anymore. Instead, they can be turned into an exception to the rule while using the same level of staffing or less, given the right technology.
EXL MY SOCRATES™ is a proven, SaaS-based case management system that can help automate the subrogation process for greater efficiency, improved scalability, better insights, and increased recoveries by up to 25%. And best of all, the solution is customizable and available as a standalone, co-sourced or hybrid model to meet specific business needs with minimal disruption.
Discover MY SOCRATES™ from EXL
Designed in-house leveraging the deep domain expertise and human ingenuity of EXL Health, MY SOCRATES™ is a HITRUST-certified, HIPAA-compliant subrogation workflow platform that is powered by advanced, analytics-driven models resulting in productivity gains, reduced cycle times, and increased case recoveries.
No other case management platform is more flexible, battle-tested, or feature-rich. And no other platform is backed by EXL Health, a global leader in healthcare data analytics and digital solutions.
Five steps for maximum recoveries with MY SOCRATES™
Leverage advanced analytics, data-driven insights, and technology-enabled services across the five steps of the subrogation processing.
- Identification: Uncover claims promising the highest probability of recovery.
- Investigation: Ascertain the responsible party or carrier without member outreach whenever possible.
- Case management: Efficiently handle a claim throughout its lifecycle to recovery.
- Recovery: Gain transparency into payments with a complete audit trail in the case summary report.
- Credit and reporting: Stay informed throughout the claim lifecycle via digital tools, dashboards, and customized communications.
Operate beyond the status quo. Do more with less and yield greater results.
How MY SOCRATES™ improves subrogation outcomes
MY SOCRATES™ is a self-contained end-to-end healthcare subrogation platform that includes case identification, investigation, case management, financial reconciliation, and reporting capabilities, all backed by EXL Health. The platform delivers a custom-fit, purpose-built solution addressing the complete subrogation lifecycle – from importing of claims data to submitting recovered amounts.
EXL Health’s white box SaaS offering leverages predictive analytics for case identification to find more true positives and intuitive, customizable dashboards to simplify subrogation activities for users of all levels.
All manual and spreadsheet-based processes can be automated onto a single, stand-alone, Windows-based desktop application, bringing scale to subrogation programs in support of long-term business strategies.
Smart Lien Case Handler
automatically inputs injury details, capturing and generating related claims data to maximize recoveries with up to 99% accuracy when creating liens.
MY SOCRATES™ enhances productivity and efficiency using user-friendly tools providing insight and transparency into the process, including customized dashboards to track inventory, recoveries and activities, and a diary system that allows multiple users to access, manage, and share case work using up-to-date notes and auditable details from a central data store.
Simplify financial reconciliation
All financial records are contained on MY SOCRATES™ for easy, transparent payment tracking and reporting. Our digitally enabled solution can process multiple payments from multiple payers and can tag specific claims in order to allocate recovery dollars according to the source.
Every detail of a case, from initial identification through final reporting, can be documented, tracked and managed on MY SOCRATES™. The system includes a variety of standard and customizable reports, with full analytics on activities, timelines, and recoveries for data-driven decisions.
Attorney and carrier profiles
capture tendencies and behavioral characteristics which are attached to all cases involving that particular attorney or carrier.
Make sense of data and drive your business forward with MY SOCRATES™
Are you ready to identify better subrogation opportunities, reduce false-positives, and maximize recoveries? Meet your goals and unlock growth with MY SOCRATES™ from EXL Health.
- Become less vendor reliant
- Eliminate administrative waste and inefficiencies while optimizing resource allocation
- Streamline stakeholder communications
- Reduce member abrasion
- Get better insights through advanced analytics
- Improve productivity through automated case assignment
- Scale to grow with modular, custom configuration
For a solution demonstration or to learn more, please visit EXLservice.com.