Acuity is committed to protecting their customers and simplifying insurance through innovation and providing world-class customer service. Founded in 1925, Acuity provides property and casualty insurance products for consumers and businesses across the country. Acuity protects over 190,000 personal customers and more than 100,000 businesses nationwide.
Since partnering with CorVel in 1998, Acuity’s program has evolved with the development of new processes and systems to further increase the efficiencies of their workflow. Throughout the 22-year partnership, service innovations and advancements in technology have been at the forefront of their program. Since implementing a fully-integrated electronic data interface (EDI) into Acuity’s claim system, CorVel has streamlined their bill review processing and delivered consistent results.
With CorVel’s clinical expertise, proprietary technology, and robust networks, Acuity has experienced significant year-over-year savings. In the last 5 years, our network solutions have saved Acuity over $400 million.
CorVel’s proprietary bill review software has a robust rules engine that not only allows for client’s unique business needs, but also identifies complex bills requiring either an advanced clinical or technical review. These advanced features continue to identify and correct incorrect charges and billing patterns, resulting in an average 56% annual savings.
CorVel’s unique network solution provides access to national PPO networks for retrospective discounts, but also includes specialty networks and a PBM solution which manages cost, utilization, and prompt access to care, contributing to a reduction in both medical and ancillary services spend.
To address the growing opioid epidemic, CorVel and Acuity developed a program in July 2018 to promote opioid safety and combat excessive opioid usage. With this new program in place, a CorVel case manager is assigned to reach out to the prescribing physician after the 3rd fill to evaluate the appropriateness of continued opioid usage.
The program began with first referrals received in August 2018 and has since led to $20,000 in direct impact savings in the first year. Besides controlling costs, this program proactively reduces average opioid day supply and ensures patient safety related to opioid use.
As Acuity continues to expand into more states nationwide and increase their presence in the workers’ compensation space, we will continue to develop proactive solutions to assist Acuity with innovative solutions, word-class customer service, and a reduction in the total cost of loss.