We began 2018 with the mantra “Inspiration, Innovation, and Integrity”. These words are at the core of who we are as a company and as individuals within our company. It was our goal to deliver real value to our clients and to the industry, by delivering on demand future medical cost analysis and dashboard analytics, as well as data-rich studies about future medical costs for bodily injury claims. We did in fact meet and exceed our goals for 2018.
We released a White Paper entitled “Medicare Set Asides: You’re Paying Too Much”, a first of its kind data analysis of the real costs of future care involving Medicare Secondary Payer (MSP) Compliance. Our article explained the spontaneous weaning and tapering of prescription drugs, post settlement, corroborated with post settlement data and we informed that the P&C industry overpays Medicare approximately $2 billion-dollars per year in Medicare Set Asides, using current methodologies for medical forecasts. We proposed the use of artificial intelligence for medical forecasts to drive speed and accuracy for medical settlement valuations and claim settlements. Our innovation is catching fire! The ability to calculate medical costs for claim reserves, cost projections and Medicare Set Asides in minutes instead of weeks and the analytics capabilities to manage claims and risk management is compelling and demonstrates that future medical cost analysis can be better controlled.
Among our accomplishments in 2018:
Winner of the Business Insurance 2018 Innovation Award, chosen by an independent panel of risk managers, the other eight winners being multi-billion-dollar insurance companies or brokers. We could not be prouder of this honor, as an InsurTech start up, to be a part of this line up that will receive more formal recognition in March 2019 in New York City.
Named One of Six Innovators to Watch by Insurance Thought Leadership.
Among thousands of applicants, Care Bridge International was selected to participate in the ACORD Innovation Challenge in Chicago, the Global Insurance Accelerator (GIA) InsurTech Week in Des Moines, IA and the Zurich World Innovation Challenge, North American Region and top 60 innovation, Hartford InsurTech Hub.
At of the time of this summary, we await news regarding our participation in the upcoming FinTech Innovation Lab in New York City.
What we learned in 2018:
We are leading from the front, a new paradigm in medical forecasting that is disrupting the claims vertical.
Our platform contributes to solving the talent crunch in insurance, as workers demand applications and tools that support the workforce and drive results faster for customers.
Care Bridge International hosts the largest independent data set of bodily injury claims. Would- be imitators announcing technology platforms for Medical Reserve Setting or Medicare Secondary Payer are shiny objects that lack a data warehouse. Vaporware.
Insurance leaders who have embraced InsurTech Innovation are leading the charge and gaining an edge over companies who have delayed the adoption of technologies, and these companies are positioned not only for success, but to outpace their competitors.
Data is a requirement, not an option, in the digital race to survival and Care Bridge International offers a simple, easy to use low-cost platform that helps its clients with the digital adoption process, fitting perfectly with any claims digital strategy or core system.
Where we are going in 2019?
As we reflect on this past year’s accomplishments, we wish to thank all our partners, mentors, clients and friends for contributing to our success in 2018. We look forward to building upon our successes of 2018 by maintaining our continuous process-improvement model to meet the needs of our clients, partners, and the digital ecosystem. Our scalable platform has positioned us well for rapid growth and we look forward to delivering high-quality medical forecasts, more white papers offering data analysis on medical costs, including benchmarking, and our FREE The Bridge, monthly webcasts in 2019. If you haven’t made the switch already, grow with us in 2019!
For more information, visit us at www.carebridgeinc.com
Customer Experience & Marketing Manager
888-434-9326 ext. 103 (Toll-free)