Milliman consultants excel in interpreting healthcare data and comparing it with industry benchmarks, offering clients critical assistance in identifying problem areas in their operations. In Central and Eastern Europe, where historic data can be difficult to obtain or of poor quality, we bring particular expertise in building robust databases for experience analysis comparisons. Our actuaries skillfully apply Milliman’s proprietary global industry benchmarks to healthcare operations in developing markets, yielding practical insight on best practices for insurers, payers, and providers.
Beyond historical analysis, we use comparative data to forecast likely future healthcare costs and use. This insight allows us to suggest potential strategies for improving the mix of policies in insurers' portfolios.
We can utilise advanced actuarial techniques such as generalized linear modelling to isolate important trend factors in clients' healthcare experience. Our exclusive benchmarks allow us to identify concrete strategies for improvements in underwriting, pricing, and rating factor loadings.
Proprietary benchmarking tool provides global data
Our consultants combine their broad knowledge of healthcare best practices with information gleaned as a leading industry data tool. Milliman's Health Cost Guidelines™ distill 50 years of healthcare experience into a vital comparative tool.
Created from multiple data sources, the Guidelines' detailed descriptions of healthcare services allow us to accurately compare benchmarks with client data. Milliman actuaries developed this unique comparative method over many years, and have used it successfully with clients in countries around the globe.