LANSING, Mich., June 11, 2013 /PRNewswire/ -- Accident Fund Holdings, Inc. was recently named as one of three finalists for the 2013 Technology Innovation Award by the Insurance Accounting and Systems Association (IASA) and Ward Group. The other two finalists are CNA Insurance and Scottsdale Insurance. The purpose of the award is to recognize a successful implementation of an initiative where technology played a major part and "made a significant difference" to the business environment in terms of strategic direction, improved operational efficiency, increased revenue and/or other business initiatives.
Accident Fund Holdings developed a software application that monitors incoming medical bills and alerts medical staff to abnormal or aberrant medical treatment or prescribing patterns. This software solution, called Care Analytics® - Early Detection, helps protect injured workers from becoming addicted to prescription narcotics and improves the adjuster's ability to manage workers' compensation claims. In 2012, the research behind the impetus of the narcotics program was published in the Journal of Occupational and Environmental Medicine in collaboration with Johns Hopkins University School of Medicine. The application, now in production for over two years, facilitates early detection and intervention of unsafe medical treatments and prescribing patterns in near real-time by leveraging medical research and data across all four of Accident Fund Holdings' brands.
"It's a huge honor to be chosen as a finalist for this award," said Jeffrey Austin White, director of Medical Management Practices and Strategy for Accident Fund Holdings. "We are extremely proud of the team's accomplishments and grateful for the IASA and Ward Group's recognition as an innovator within the insurance industry. It is rewarding to work for a company like Accident Fund Holdings that understanding the importance of this technology and continues to invest in new research to help injured workers make a safe, healthy and productive return to work."
The finalists' submissions were judged by an industry panel to determine those that are the most innovative and which best demonstrated "delivering measureable business impact in the insurance industry." The panel of industry experts who participated in the judging of the award submissions included individuals from Catholic Mutual Group, Insurance Networking News, Insurance & Technology, QBE North America, the Nolan Company, Tech Decisions, and Ward Group.
"The judging committee was impressed by the number of quality submissions received this year," Jeffrey Rieder, partner for Ward Group, said when the award finalists were announced on June 4, 2013 during the 2013 IASA Annual Educational Conference & Business Show. "We look forward to seeing each finalist's case study presentation at the IASA Executive EDGE Conference, having the opportunity to select a winner from this distinguished group, and being able to share such important innovations with the rest of the industry."
This year, IASA and the Ward Group introduced a new format for the Technology Innovation Award selection. The award now features a new peer judging component and increased industry recognition. The three finalists will present project details to an audience of their peers at the IASA Executive EDGE Conference on September 29 and 30, in Hartford, Connecticut, during which EDGE Conference attendees will vote to select the winner of the award.
For more information about Accident Fund Holdings Inc., visit www.accidentfundholdings.com.
Accident Fund Holdings, Inc.
Accident Fund Holdings, Inc. is a workers' compensation insurance holding company conducting business through four operating units: Accident Fund Companies, located in Lansing, Michigan; United Heartland, located in New Berlin, Wisconsin; CompWest, located in San Francisco, California; and Third Coast Underwriters, located in Chicago, Illinois. Its insurance company subsidiaries are rated "A-" (Excellent) by A.M. Best. Accident Fund Holdings is a wholly-owned subsidiary of Blue Cross Blue Shield of Michigan. For more information, visit Accident Fund Holdings' website at www.accidentfundholdings.com.
SOURCE Accident Fund Holdings, Inc.