Medical records are not only a crucial piece of the underwriting process but also one of the costliest in terms of time spent – positioned for transformation through data science and machine learning.
attending physicians statements (APS)
Jennifer Thoreson, R.N., AALU, Executive Director, Underwriting Services, U.S. Mortality Markets, RGA, provides a comprehensive overview of the current state of EHRs, how EHRs now compare with attending physician statements, and the benefits and challenges both bring to risk assessment in ReFlections.
I recently attended the AHOU 2018 17th Annual Conference and had the opportunity to talk to tons of underwriters who all had strikingly-common challenges. In many of my conversations, I asked how long their average APS is and how long it takes them to underwrite a policy, and I was often met with responses like oh jeez – too long? Or Gosh, hundreds of pages and anywhere from 45 to 90 minutes.
Talk to any life insurance company and they will tell you that attending physician statements (APS) (also referred to as digital or electronic medical records) are the biggest delay in underwriting new applications.
Your underwriting team may be missing key data on APSs affecting your mortality analysis and your bottom line. Watch this recap of the exclusive educational webinar conducted by Hank George to ensure nothing is missed. Hank covers three specific areas where data is often missed: physical findings, symptoms and test results.