In today's episode, we are joined by Bill Dimmock, Vice President of Advisory Services at Optum, to discuss emerging technologies in underwriting. Hear insights on the biggest underwriting challenges in the level funded space and how payers are addressing these challenges. Tune in to learn more about business and renewal underwriting, and hear from Bill on what he would say to a payer who is interested in improving their processes and techniques but is concerned about operational disruption and cost. This episode is sponsored by Optum.
Summary
Optum VP Shares Insights on Emerging Technologies in Underwriting
Introduction
Join Jacob Emerson as he interviews Bill Dimmock, the Vice President of Advisory Services at Optum, to discuss emerging technologies in underwriting, in today's episode of in-house podcast 'The Insider.'
Discussing Underwriting Challenges in the Level Funded Space
Bill shares insights on the biggest underwriting challenges in the level funded space and explains how payers are addressing these challenges. He mentions that payers have been turning to solutions like Milliman's Curve or Optum's Group Risk Analytics to identify better risk groups from outside their existing blocks of business.
Business and Renewal Underwriting and Scalable Techniques
Bill also shares insights on business and renewal underwriting and how it is moving away from manual labor-intensive functions and towards mass production scalable techniques. Furthermore, he discusses the considerations to keep in mind when designing software for applications like this.
Advice for Payers to Improve Their Processes
Bill shares advice for payers who are interested in improving their processes but are concerned about operational disruptions and cost. He suggests that healthcare payers should invest in upgrading their processes as there is usually a return on investment. He also points out that the process can be done in increments and not necessarily overnight. Lastly, he mentions that there are consultants available to help with the transition.
The episode is sponsored by Optum, a leading provider of healthcare technology and services.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 09/29/2022 and can be listened here.
Subscribe to Beckers Healthcare Podcast here.