SEATTLE, June 23, 2014 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today announced that it has expanded its Milliman Advanced Risk Adjusters (MARA) software to include greater flexibility for calculating risk scores in and outside of health exchanges. The latest release includes the federal risk adjustment model developed by the U.S. Department of Health and Human Services (HHS) for use in the individual and small group marketplaces starting in 2014. The complex HHS-HCC model set, which employs the hierarchical condition category (HCC) grouping logic, requires specific diagnosis and demographic handling to calculate risk scores.
"Our latest product release is a testament to our commitment to provide healthcare organizations with on-demand risk scoring solutions in support of their reform initiatives," said Diane Laurent, MARA's managing director.
The HHS-HCC risk adjustment model is provided in a platform-independent software package that is easy to install in any environment. Clients who wish to tightly integrate the processing engine receive automated processing interface support. Milliman's MARA product is proven technology with analytical support available from Milliman's consulting actuaries and other industry experts.
"The MARA tools give the industry on-demand processing of metal-level and cost-sharing reduction (CSR) risk scores, with completely transparent scoring. Adding the HHS-HCC risk adjustment model means plans and others have another powerful tool for understanding and managing risk in their own technical environment," added Hans Leida, Milliman principal and consulting actuary.
In addition to the HHS-HCC risk adjustment model, MARA includes a library of more comprehensive, higher-performing risk adjustment tools that are widely deployed in solutions offered by leading healthcare technology providers, including business intelligence, care workflow solutions, and EMR vendors. MARA adds insight for population health activities in ACOs, primary care medical home programs, and other health-based budgeting, pricing, and risk-based performance measurement programs.
For more information, go to www.millimanriskadjustment.com.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com
SOURCE Milliman, Inc.