PointRight's Updated Professional Liability Snapshot Leverages Big Data To Predict Claim Risk In Long-Term Care Industry
Launch of updated PL Snapshot reports enables 'executive snapshot' to key exposure to liability risks
LEXINGTON, Mass., Nov. 7, 2013 /PRNewswire/ -- PointRight Inc., the recognized leader in data-driven analytics for health care and insurance, announces the release of an upgraded version of its Professional Liability (PL) Snapshot, a tool that accurately predicts the risk of liability claims for long-term care (LTC) facilities.
PL Snapshot analyzes LTC facilities' professional liability risks using proprietary predictive models built on a unique database of claims experience from over half of the industry facilities. These analytics support accurate risk analysis and targeting of risk management and enable claims to be evaluated more accurately and defended more effectively.
The PL Snapshot tool provides on-demand decision support services for anyone who is a stakeholder in the LTC market, and is already used by insurance underwriters, real estate investment trusts (REITs) and merger and acquisition (M&A) organizations to assess an LTC operator's risk before providing insurance coverage to them or investing in them.
In Version 2, PL Snapshot now contains these enhanced features:
- A simple, color-coded report provides visibility on over 100 categories including staffing, care process levels, quality measures, and complaint history.
- A newly refined PL Risk score value evaluates a facility's underlying risk of having a claim of over $250,000 compared to all other facilities across the nation, factoring in facility size and location, validated against PointRight's extensive loss history database.
- A proprietary staffing-to-acuity analysis offers measured insights as to whether a facility is maintaining the specific staffing necessary to support its current level of acuity.
- Graphical trend analyses visualize how a facility's quality and risk measures are tracking over time.
- Reports are available on-demand via self-serve access from PointRight's web-hosted Reports Portal.
"Skilled nursing operators are continually searching for ways to lower risk and have the data they need to address problems before they occur," said Mary Chmielowiec, Executive Vice President of Insurance Services at PointRight. "The next iteration of PL Snapshot makes it even easier for facilities to do so, including the ability to now benchmark against their own survey district for more competitive intelligence. It's a powerful tool that can save money and prevent potential long-term damage to their brand should a claim arise that they can't effectively defend."
With the largest reporting base in the long-term care industry, PL Snapshot leverages big data and analytics to support underwriting, investment and partnership decisions, claim defense, and continuous process improvement across the spectrum of skilled nursing and care facilities. To obtain more information, download sample reports or attend a webinar-based demonstration, visit www.pointright.com.
About PointRight Inc.
PointRight is the industry leader in providing data-driven analytics and Web-based tools that measure risk, quality of care, rehospitalization, compliance and reimbursement accuracy in the healthcare and insurance industries. Using some of the largest and best databases in the industry, our nationally recognized clinical staff, researchers, and technologists expertly translate disparate data into usable information and insight. For more information, visit www.pointright.com.
SOURCE PointRight Inc.
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