Subrogation is a very old model that still depends on very old methods - spray and pray advertising and bulk marketing, and the result is a process that's around 1% efficient1. After a mass tort settlement event, a fund is created for affected individuals and their payers, and the search for eligible individuals begins. This is typically accomplished via advertising. You've probably seen or heard the commercials: "...if you or a loved one has been impacted by mesothelioma, please contact...". These ads can appear in print, radio, television, flyers - pretty much anywhere. What they have in common is this: the national average for finding individuals who qualify for a settlement based on a mass tort ruling is around 1 in 7. Even with a 1-in-7 ratio, subrogation is still a multi-billion dollar industry, and growing yearly.
1. 'TRENDS AND PRACTICES IN HEALTHCARE SUBROGATION' - Deloitte, Final Report 2013 - [Download]
No one is driving this process with data. Until now.
HaGiMo has created an enterprise data platform based on relationships with data networks, transaction networks, practice management data processing entities and other similar partners. This has allowed HaGiMo to create a very large aggregated database of longitudinal healthcare data:
1. International patient data spans 10+ countries. Please contact HaGiMo for more information.
2. NPI - National Provider Identifier. For more information, visit: https://npiregistry.cms.hhs.gov.
Using this data, HaGiMo has developed proprietary methods to target individuals based on eligibility for one or more mass tort settlements, and then sort payers and providers for outreach. HaGiMo also has the relationships with the largest payers and networks - the result is a new, streamlined method of subrogation that increases recovery rates significantly while reducing time and costs dramatically. HaGiMo is able to identify patients in real time, pre-qualify them based on their health histories
, calculate total spend and losses by payer, and then engage payers directly, working with them to engage their clients, get them into the settlement process, and begin recovering losses far faster than traditional methods.
No advertising. No waiting. Initial numbers and projections on eligible patient populations can be generated in less than a day, and initial outreach to payers can begin in less than a week. Stop spending millions and then waiting months for the phones to ring. Contact HaGiMo now for more information, or to get your projects started.