How can Milliman LARA help long-term care carriers reduce claim costs?

The Milliman Long-term care Advanced Risk Analytics (Milliman LARA) preclaim risk model was developed using predictive analytics and can be used to assist long-term care (LTC) carriers in stratifying their population to proactively manage the health and claim activity of members. LARA risk scores are a key component LTC insurer’s efforts to reduce claim cost through preventative approaches. This brochure gives examples on how customers use their LARA risk score, and answers questions such as:

• How often should I run LARA scores?
• What’s the lag in the data?
• What’s the match rate for your third-party data?