#USA #Atlanta #Life Insurance #LexisNexis #Health Intelligence

New Medical Insights from LexisNexis Health Intelligence

LexisNexis Risk Solutions has officially launched its innovative feature, Medical Insights from LexisNexis® Health Intelligence. This groundbreaking functionality focuses on enhancing the way life insurance companies can efficiently leverage medical data from electronic health records (EHRs). The incorporation of these features aims to bolster accelerated underwriting programs and significantly improve overall customer experiences.

Enhanced Functionality

The Medical Insights feature standardizes crucial information extracted from EHRs, including vital signs, laboratory results, and significant health conditions. This advancement goes a step further than the basic EHR summary by enabling U.S. life insurance carriers to swiftly pinpoint key critical risk data. By doing so, insurers can expedite underwriting decisions and enhance risk assessments, ultimately aiming to improve mortality outcomes while streamlining rules automation with structured data.

Justin Baker, associate vice president of life underwriting solutions at LexisNexis Risk Solutions, elaborates on the necessity of this tool in transforming data interpretation. He states, "Currently, the only way for underwriters to quickly surface significant risk data in an EHR is through manual reviews. Life insurers require tools that can decipher various pieces of information, pull vital insights, and present a comprehensive perspective of disparate data sources when merged together."

Key Features of Medical Insights

1. Clinical Screener: This feature provides essential health details such as vitals, physical assessments, common lab results, and smoking status. It delivers the latest readings, stable ranges, and indicators for any out-of-range findings. As a result, underwriting teams can respond more swiftly, rendering consistent decisions while extending more applicants into accelerated programs.
2. Impairment Identifier: This tool highlights significant impairments, complete with indicators of when they were first noted, their most recent assessment, and any resolutions. Consequently, underwriters can quickly evaluate the presence of critical medical conditions without the need to sift through entire medical records, enhancing efficiency.

Benefits Realized

The Medical Insights feature offers numerous benefits that improve the insurance underwriting process:

• - More Effective Triage Acceleration: The tool boosts the retention of applicants in accelerated programs, reduces processing times, and aids in the rapid identification of challenging risks that require closer scrutiny, culminating in a superior customer experience.
• - Reduction of Misrepresentation and Mortality Slippage: By providing comprehensive insights, Medical Insights helps mitigate the potential for errors resulting from self-reported details or standalone medical evaluations, which can lead to unexpected risks and undisclosed impairments.
• - Flexible Automation: The insights can enhance processes at any point during a company's digital transformation, empowering insurance carriers to incorporate transparent and auditable data into their underwriting engines and models.
• - Advancing Segmentation: Medical Insights combined with LexisNexis® Risk Classifier can provide refined insights that allow for better mortality risk segmentation.

Justin Baker remarks, "As life insurers transition from traditional paper APS reports to real-time EHR data utilization, the next challenge is extracting actionable insights from that amassed data, culminating in a holistic view of both medical and non-medical risk elements. We are committed to evolving our offerings and ensuring insurers gain not only digital records but also actionable intelligence crucial for their operations."

For more in-depth information on Medical Insights from LexisNexis Health Intelligence, interested parties can explore the platform's offerings online.

About LexisNexis Risk Solutions

LexisNexis® Risk Solutions utilizes advanced analytics, sophisticated data networks, and technology solutions to guide businesses across various sectors in reducing risk and optimizing decision-making processes. The firm is based in metro Atlanta, Georgia, and operates globally as part of RELX (LSE REL, NYSE RELX), which is renowned for its information-centric analytics and decision tools.