03/16/2021 | Press release | Archived content
Claims ManagementPatient ManagementCost Containment
Continued development in artificial intelligence (AI) has given rise to innovations that help healthcare professionals diagnose disease and improve the efficiency of traditional medical management processes.
With the ability to more rapidly collect and analyze patient data, AI has transformed the traditionally manual process of managing medical information. Not only does this increase efficiency and improve accuracy in general management procedures, but it also enhances the patient experience. As an added advantage, AI helps reduce costs due to its ability to accuratelydetect risksearlier on. Some examples of this include remote diagnoses, predictive modeling, and wearable technology paired with digital health programs.
Recognizing the value of AI and machine learning, CorVel has made ongoing investments in the development of new technologies. Most notably, our claims management system,CareMCEdgeSM, utilizes AI technology to help adjusters proactively take informed action on claims, transforming the ways claims are managed and significantly improving outcomes for clients.
By aggregating and prioritizing complex claims information, including financials, drug utilization scores, and pharmacy eligibility, CareMCEdge transformsclaims datainto valuable insight. Compared to the traditional, reactive claims management process, the Edge provides a proactive, data-driven experience for adjusters. This advancement reduces the total cost of risk and, more importantly, helps injured workers get the care they need faster.
Innovations such as CorVel's CareMCEdge have been proven to make medical processes more efficient and reduce costs. With the power of analytics and AI technology, we continue to see significant improvements across the healthcare industry and reimagine what is possible.