Summary of Key Indicators Report
This report summarizes several key metrics so that a benefit manager can quickly identify a potential issue with his or her block of claims. The one page snapshot of STD and LTD information (new and closed claims, durations and STD claim decision times) provides a 14 month history so users can measure negative or positive trends for the current month over a period of time.
Data details — what's in? What's out?
This section provides information which is specific to the summary of key indicators report. Please refer to the information in the Understanding the Data Details section for general information on the details for all reports, including Marked up in Error (MUERR) claims and data processing delays.
- Analytical report — table of information includes new claims, closed claims, average duration and STD decision time.
- Non-compensable claims are included in new claims, closed claims, and decision times.
- Data is updated daily, but there is a 2 day data processing delay.
- Fully and self-insured STD and LTD information is included in the report.
- The report does not allow the user to select the review period. Based on the date that the user runs the report, the report reflects 14 rolling months of information, plus a total for Year to Date and an average for the last 12 months.
- Based on the different measures, the claim counts included in each month are grouped according to claim received date (new claims) original decision date (decision times) or current status date (duration).
How can I use this information?
This one page snapshot is a valuable report to help keep on top of the key drivers of disability costs. Users saving and scheduling this report can start the week with a quick and easy review of their disability program. The report can help answer questions like:
- Over the last 6 months, are there more or less new claims being submitted?
- What is the total number of new STD claims experienced Year to Date?
This report is valuable when used in concert with other CR&A reports. However, a word of caution: when comparing the durations in one report to the durations in another report, you may notice differences. Understand the differences in how duration is measured in the various reports.
For more ideas on how to use this information, refer to the section titled Interpreting the Reports.