FINEOS Enhances Workers’ Comp Claims Solution

FINEOS Corporation, a provider of claims management software solutions, announced that it has enhanced its FINEOS Claims for Workers' Compensation solution.  The new version offers additional capabilities and functionality around Medicare and FROI/SROI reporting; real-time operational and financial reports and medical bill review. 

FINEOS is a global provider of workers' compensation claims systems. Last year it launched its solution for the U.S. market to address multi-state compliance and reporting requirements.

The solution offers insurance carriers, TPA's, self-insureds, state funds and other government entities complete claims lifecycle management including intake, payments, reserves, provider management, and other claims processes. The U.S. solution has been designed to address issues such as compliance, fraud detection, and medical management.  It can also integrate with databases to help organizations evaluate claims status against accepted the claims handling and recovery timelines. 

This announcement coincides with FINEOS' expansion into the broader U.S. property/casualty market.  FINEOS Claims for Property & Casualty has been developed to serve all major lines of business and leverages FINEOS' industry experience internationally to create a solution that is uniquely geared toward addressing claims issues faced by US P&C insurers. The solution integrates with complementary claims services to offer a comprehensive 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.

 “We are pleased to launch this new version of our workers' compensation solution,” says Michael Kelly, CEO of FINEOS Corp. “Using FINEOS Claims will enable carriers and state funds' to offer a consistent and transparent claims service, which in turn creates mutually beneficial outcomes for employers, providers, workers' compensation writers, and injured workers.”