Actuarial consulting: Healthcare

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Milliman's UK healthcare experts excel at data analysis and the construction of powerful forecasting models. We are experienced in assisting commissioners and other National Health Service (NHS) stakeholders in assessing the health needs and determining the services their population will require most in the future.

We assemble population and demographic data as well as analyse historical data to help determine likely trends. We have broad experience using advanced actuarial techniques to build sophisticated predictive models, providing vital information for budgeting and planning.

Advanced tools for healthcare needs

In their actuarial forecasting and risk modelling work, our experts use our proprietary tool, MedInsight™, for healthcare data warehousing, management, analysis and performance reporting. Utilising the most comprehensive system available today, our consultants assist both payers and providers in accurately assessing their current performance and planning for increased future success.

Predictive modelling enables better planning

Case study: Milliman was approached by several Clinical Commissioning Groups (CCGs), which sought to know more about the prevalence of specific patient subgroups within their population and the costs associated with these population groups. Our UK consulting team used our inpatient benchmarking tools and our Chronic Condition Hierarchical Groups (CCHGs) analytics to analyse the CCGs’ data and isolate the desired information on these subgroups. We then used this historical analysis to perform predictive modelling to assist in assessing future healthcare needs. With a combination of actuarial techniques and our consultants' analytical skills in interpreting the data, the CCG managers were able to identify gaps in best practice, more effectively analyse trends in healthcare utilisation and more confidently predict upcoming patient needs.

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