FINEOS Enhances Workers’ Comp Solution

FINEOS Corp., a provider of claims management software solutions, has improved its FINEOS Claims for Workers’ Compensation solution with additional capabilities and functionality around Medicare and FROI/SROI reporting, real-time operational and financial reports, and medical bill review.

The solution was launched in the U.S. market last year to address complex, multi-state compliance and reporting requirements.

FINEOS Claims for Workers’ Compensation is designed to offer carriers, TPAs, self-insureds, state funds and other government entities complete claims lifecycle management, including intake, payments, reserves, provider management and other claims processes, says the company.

The U.S. solution, according to FINEOS, has been specifically designed to address issues such as compliance, fraud detection and medical management, and it also can integrate with databases to help organizations evaluate claims status against accepted the claims handling and recovery timelines.  

FINEOS says the announcement coincides with an expansion into the broader U.S. P&C market, with FINEOS Claims for Property & Casualty having been developed to serve all major lines of business. The solution is designed to integrate with complementary claims services to offer a solution that can help insurers achieve the benefits reported by current FINEOS customers in areas such as productivity, efficiency, customer service and claims payment accuracy.

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