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March 15, 2006
Society of Actuaries Announces New Health Claim Predictive Modeling Software Study – Vendors Invited to Participate
Expanding on its seminal 2002 study report, A Comparative Analysis of Claims-based Methods of Health Risk Assessment for Commercial Populations, the Society of Actuaries (SOA) announced today the appointment of Milliman to produce an updated version of the study. The 2002 report, which evaluated the state of the art in predictive modeling software for health care claims at that time, provided an unbiased forum for comparing the technology and methodologies then available in the market. With the passage of three years and the continuous refinement of these methodologies and software, the SOA strongly felt a fresh look at the tools would provide immediate practical benefits to the health care community.
According to Ross Winkelman, consulting actuary with the Denver office of Milliman and lead researcher for the new study, “The time is ripe for a re-evaluation of the models and software that are being used in the health care marketplace. With advances in technology and greater health information available, these tools continue to push the envelope for health claim prediction.” Milliman is in the process of acquiring currently available health predictive modeling software. The study is expected to be completed in Fall 2006.
Software vendors may contact Steven Siegel, SOA research actuary, at 847-706-3578 for further details and requirements for participation in the study. Vendors are encouraged to review the 2002 report, which can be found on the SOA Web site at:
The Society of Actuaries is an educational, research and professional organization dedicated to serving the public and its 18,000 members. The SOA’s vision is for actuaries – business professionals who analyze the financial consequence of risk – to be recognized as the leading professional in the modeling and management of financial risk and contingent events. The SOA’s mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal problems involving uncertain future events.
Posted by Tom Troceen