ICEX Releases ClaimCatcher
Cross-claims data exchange designed with NAIC model regulations and stringent state insurance laws on privacy, claims and data.
Virtual Water Cooler, November 13, 2012
ICEX, an insurance information-services company, has developed ClaimCatcher, a cross-claims data exchange designed to reduce overpayments for medical and injury claims. With ClaimCatcher, health insurers will be able to learn when their members have filed injury claims with P&C insurers, and the health insurer can then subrogate against the member.
ICEX says ClaimCatcher complies with HIPAA, NAIC model regulations, and the most stringent state insurance laws on privacy, claims and data. The technology will be used by P&C insurers, health insurers, Medicaid, self-insured employers and workers’ compensation carriers.
Only 0.5 percent to 1 percent of all paid medical claims result in subrogation recoveries, according to CIGNA. Because ClaimCatcher doesn’t rely on claimants to personally validate their involvement in a claim, widespread adoption of the technology eventually could boost recoveries to nearly $9 billion, says ICEX. Using a HIPAA-compliant process, P&C insurers can request and match up prior medical claims related to the claimant’s current injuries, better identifying preexisting conditions.
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