The myth surrounding workers’ compensation predictive analytics is that the analytics solve all problems. Sure analytics present the red flags, but they do not provide solutions until you do something with them. This session at the 2017 National Workers’ Compensation & Disability Conference illustrated how to effectively use predictive analytics once they have been collected.
- J.J. Schmidt, Senior Vice President of CareWorks Managed Care Services
- Suzy Braden, Workers’ Compensation Claims Manager at HealthSouth Corporation
If used correctly, predictive analytics can improve decision making, predict or anticipate changes, reduce claim costs and durations, and improve operational efficiency and effectiveness. But how do you get these results? Panelists suggest applying the three “A’s” to operationalize predictive analytics.
It is important to set up notification mechanisms to alert the team if something has happened, something is happening or if something could happen.
There are a few items to determine:
- Who gets the alert?
- What does it tell them?
- What is the benefit?
This is the foundation of your program.
Now what? Once you have been alerted, you must establish a specific process to direct what you will do with the information. Determine the following:
- How do I review the information?
- What do I need to know?
- What is my timeframe?
- Who do I involve?
Action is key. Nothing will change if you solely produce a report without these follow-up steps. You have to do something with this data.
Everyone in the team must be accountable to maintain consistency and quality. Garbage entered into a system produces garbage out, therefore the entire team must be held accountable for data management. To maintain accountability, create rules around the following:
- What is expected?
- What if I do not follow guidelines?
- Who monitors what I do versus what I do not do?
Without a consistent process, you will never receive consistent results.
It is important to remember that data is an asset, but the data provides no benefits if we collect it and do not use it. Put your data to work for you to learn from the past, monitor the present and act for the future.