Transforming Medical Record Review with Verisk’s Discovery Navigator
This blog post is a collaboration between Sneha Godbole, Kate Riordan, and Verisk. Verisk (Nasdaq: VRSK) is a leading data analytics and technology partner for the global insurance industry, empowering its customers with cutting-edge solutions to enhance operational efficiency and drive informed decisions.
Verisk’s Discovery Navigator product is revolutionizing the review process for medical records, catering to property and casualty claims professionals across industries. By leveraging generative AI, Verisk is streamlining the document review process, saving time and improving decision-making – all crucial factors in achieving better outcomes.
With Verisk’s AI-powered solutions, the arduous task of reviewing hundreds of pages of medical records is condensed into minutes. This revolutionary approach ensures that important medical information is extracted, organized, and summarized effectively, empowering users to make quick, well-informed decisions.
Automated Summary Feature
Verisk’s Discovery Navigator recently introduced an automated generative AI record summarization feature, utilizing Amazon Bedrock from AWS. This capability provides users with instant access to vital medical information, enabling them to assess injury severity and treatment plans with a single click. This automation significantly speeds up the review process, ultimately reducing settlement times and enhancing operational efficiency.
AI Pipeline Architecture
The AI pipeline of Discovery Navigator converts scanned medical records into searchable documents using Amazon Textract. The AI models extract key medical data, which is then highlighted in the original document and presented in an indexed report. This organized approach allows users to focus on critical data points, saving time and enabling faster decision-making.
Generative AI Summary
Verisk’s evaluation of the generative AI summary feature showcased exceptional quality, with over 90% of summaries rated as good or acceptable. By framing prompts and utilizing clinical expertise, Verisk ensured that the extracted medical information was accurate and relevant, reflecting a commitment to quality and efficiency.
Business Impact
The integration of generative AI into Discovery Navigator has the potential to drive significant business impact for insurers. By automating data extraction and summarization, Verisk is enabling claims handlers to expedite the review process, reduce settlement times, and optimize resource allocation. This acceleration in claim resolution helps minimize claims leakage and improves overall efficiency, providing insurers with a competitive edge in the market.
Conclusion
Verisk’s commitment to leveraging advanced technologies like generative AI in Discovery Navigator underscores its dedication to innovation and excellence in the insurance industry. By prioritizing responsible AI adoption and continuous improvement, Verisk is shaping the future of insurance analytics and driving resilience in the face of evolving challenges.
About the Authors
Sneha Godbole and Kate Riordan are key figures at Verisk, spearheading the development of Discovery Navigator. Ryan Doty and Tarik Makota from AWS provide technical expertise and guidance, while Dom Bavaro focuses on enabling Generative AI solutions in financial services.