Verikai's latest tool, shows historical medical conditions and prescription data for every group that you underwrite.
Here's our guide to getting started with Med/Rx.
Don't have Med/Rx yet? Contact sales@verikai.com to add Med/Rx to your Capture reports, which will allow you to see both past claims and future predictions in your underwriting process.
What is Med/Rx?
Med/Rx is a report generated from historical medical and prescription claims that provides insights into the health of individuals in a group. It will show critical and high-cost conditions that affect underwriting today and give details on vaccination history, cancers, chronic conditions, and more. Using these insights can help carriers better understand risk.
How does Med/Rx work?
Med/Rx delivers impactful medical and prescription claim data coupled with Verikai Capture scores. Verikai has processed, sorted, and analyzed thousands of ICD-10 codes, while Med/Rx breaks down complex claims and prescription data for easily interpreted reports.
What does the report show?
Med/Rx reports show ICD-10 codes for critical conditions found in the industry, as well as prescription data on individuals in a group. This report will show high-cost conditions that drive high claims as well as highlight groups without critical conditions and specialty drugs.
How do I read the reports?
Med/Rx reports are HIPAA compliant and can be filtered to search for certain conditions, specialty drugs, and more.
How long does it take to generate a Med/Rx report?
Your Med/Rx report will be available same day. An email will be sent to you to notify you when the report is ready to view.
What is the refresh rate of the data?
Med/Rx data will vary in its refresh rate, but for each individual, it's within the range of 1-3 months per update.
Why use Med/Rx with Capture for Health?
While Med/Rx gives you the history of a group, Capture uses behavioral data to provide future outlooks for claims and health. These actionable insights help underwriters make better, more confident decisions about underwriting groups.
Can I re-run the same groups within a certain time period for free?
No - any upload/request for a Med/Rx report will have a cost associated with it.
How do I connect to Med/Rx?
Med/Rx will be accessible via API. You will need to add a flag (yes/no) to request Med/Rx data in your current request and need to request the Med/Rx data once it’s ready. Once a Med/Rx report is ready for a group, you will receive an email notifying you that the report is ready.
How large of a census can I run through MedRx?
2,000 is the maximum number of lives we can display MedRx in the portal. Any census greater than 2,000 lives will require API access to pull the data. It is best to have API access configured early if you believe your team will run censuses of 2,000 lives or more.
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