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Proactive Property-Loss Prevention

Saint-Gobain makes the grade with help from Ventiv risk management software.

 

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Healthcare

30+ healthcare organizations manage and mitigate risk with Ventiv

Identify claim drivers, prevent unnecessary litigation, and establish a compassionate risk management culture that aligns with your primary mission.

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We are excited about our claims management solution because it's easy to use, and we have the support from an RN at Ventiv with extensive experience in risk management. With this solution, we have all of our claims and incident data in one system, and we can better understand claim trends and drivers with advanced analytics and reporting.

Ric Henry, Managing Partner, BRP Pendulum

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healthcare risk and claims management software with analytics

Make better, faster decisions that minimize risk and maximize value with advanced analytics

Gain a deeper understanding of risks, predict outcomes, and take preventive action to optimize your organization's performance.

Gain actionable insight from your claims data

Optimize your financial performance, streamline processes, and transform raw claims data into actionable intelligence.

Disclose and respond to incidents quickly with open communication

Establish a transparent process that ultimately leads to fewer filed claims.

Manage policy finances with ease

Create, record, track, manage, and administer every insurance policy. 

Eliminate bias and identify trends with AI-powered analytics

Make data-driven decisions to mitigate risk and improve safety outcomes.

Understand and predict claim trends

Whether you self-administer claims or use a third-party claims administrator, gain control over critical priorities: incident intake, claims consolidation and administration, supervision, and litigation management.

Consolidating claims data from multiple sources provides standardized data for better insight and understanding of the risk your organization faces.

Track all claim details, including description and causes of the loss, through to the financials. Define your claim types as well as payment buckets, transactional values, and claim payment detail. In addition to commonly used claims management fields, client-specific custom data fields are available.

With more accurate, complete, and reliable data, you can:

  • Monitor claim trends and identify key loss drivers
  • Establish optimal reserves and avoid under-reserving
  • Promote successful coverage outcomes, including prompt claim payments
  • Provide accurate loss history and loss triangles to your actuary for optimal risk placement

Take action before incidents become claims

With an efficient incident intake process, you can be notified of potential incidents and claims quickly, which is a key factor in reducing the closed lag time and overall claim costs. Quick reporting also allows for more accurate analysis of trends and root causes. Capture the information you need with dynamic question sets to ensure maximum accuracy of the submission.

Since incidents are immediately available for investigation, administration, reporting, and analytics, you can make corrective actions faster to prevent similar incidents and reduce costs.

Policy

Maintain a detailed financial summary of your policies

Every healthcare organization purchases and structures its insurance programs in a unique way.

  • Monitor policy erosions and premium, brokerage, and risk management costs
  • Provide a complete view of fees and costs relating to coverage
  • Track and validate that adequate insurance cover (whether self-insured or through market carriers) is in place
  • Generate custom reports for your financial department, TPA, and other recipients as needed
Policy Dashboard

Identify the appropriate actions to take before an adverse event occurs

Healthcare systems have a special need to be able to perform analysis on all data points related to risk management, claims, and patient safety. Use advanced analytics tools to improve loss-control initiatives like identifying risks, enforcing compliance, and embedding best practices across the organization.

  • Automated predictive analytics: Find correlations that provide actionable insights, such as what factors are likely to influence the cost of a claim. Drill down into data to find relationships that you might otherwise have missed.
  • Prescriptive analytics: Identify how to mitigate risks and potentially prevent claims, injuries, or incidents from occurring.

With AI and predictive analytics, hospitals can eliminate data silos, identify claim drivers, and improve care.

Healthcare organizations can use AI-powered analytics to:

Quickly sift through large volumes of data and gain meaningful insights

Easily create interactive global metrics dashboards to tell your organization’s story

Remove bias when analyzing data, identify hidden trends, and detect patterns that were previously unknown

Healthcare and Analytics

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You have questions... we have answers!

Let’s talk about how we can move your organization forward.

 

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Video

Why should Risk and Claims Managers use AI-powered analytics?

This short video covers 7 reasons just focused on claims.

 

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