We are all familiar with the terms “data is king”, “big data”, “dashboards”, and “what gets measured, gets done”. In recent years, data and metrics have entered every aspect of our lives – we measure our steps, our screen time, rate and review our purchases, and track our various loyalty points.

It is no different in third-party administration (TPA) claims and risk management programs. We collect data at claim intake and at every step throughout the life of a claim. We develop analytics that help us measure safety programs, improve outcomes for injured workers and their organizations, and conduct data stewardships to understand performance of individual programs and our book of business. Our industry has come a long way in its ability to utilize data to drive claims decisions, impact claims duration and resolution, and even anticipate claims severity through complex predictive models.