Getting more from EDI reporting

The Electronic Data Interchange (EDI) workers’ compensation reporting process entails the transmission of a vast amount of information, including detailed first reports of injury (FROI) and subsequent reports of injury (SROI) claims and medical billing data. Verisk has a solution that can help states and insurers get more from their compliance efforts.

wcanalyzer thumbnail.jpg

Insights that elevate workers’ comp compliance for states and insurers

With all the workers’ compensation data that states collect and insurers report, how do you sift through the morass to measure the effectiveness of your compliance? Regulators and carriers need metrics about industry standards to discover where problems lie.

The solution offers these tools for insurers:

  • Compliance Cube — Evaluates EDI data reporting and compliance performance state-by-state, identifies concerns, and helps avoid noncompliance fines
  • Claims Data Cube — Helps you understand claim trends across classes of business and over time to manage your book
  • Medical Data Cube — Provides insights on medical costs and claim leakage by uncovering diagnosis, procedure, and prescription trends across multiple medical-related data sets

wcAnalyzer offers states:

  • Compliance Cube — Evaluates the EDI data reporting and compliance performance of all insurers writing business in their jurisdiction to identify areas of concern
  • Claims Data Cube for claims data analytics — Produces state annual reports to help uncover business trends and adjust state workers’ compensation programs based on qualitative research and analysis
  • Medical Data Cube — Measures medical benefit payments by state and identifies specific procedure, drug, and provider cost drivers to guide legislative change

actionable insights.jpg

Insightful analytics for states’ and insurers’ EDI reporting data with wcAnalyzer™

wcAnalyzer™ is a workers’ compensation analytics system that provides states and insurers with the means to turn untapped data into actionable insights. This EDI analytic tool is available for both wcCapture™ and wcPrism® users.

For more Verisk workers’ compensation solutions, check out:

wcPrism®

A comprehensive suite of tools to simplify workers’ compensation data reporting


wcCapture™

A workers’ compensation data collection system for states


wcNavigator®

Detect and manage high-severity workers’ compensation claims through predictive analytics


Medicare Future Allocations

Medicare Set-Asides and cost mitigation


ISO Claims Partners

Helps insurers take control of claims, compliance, and costs


Workers’ Compensation Claims Management

Manage complex claims and reporting requirements