What is a Medical Examination?
A medical examination is an evaluation conducted by a healthcare professional to assess a person's physical health. This process usually includes a review of the patient's medical history, a physical examination, and sometimes laboratory tests or imaging studies. The primary goal is to identify any potential health problems, assess overall health, and determine appropriate treatment if necessary.
In the early days of insurance, physical examinations were the primary method of considering a patient's health. Physical MER (Medical Examination Report) is the standard practice, where a doctor examines the patient with a detailed medical history and completes a physical examination. Yet, it has several drawbacks that have led to the development of alternative methods.
Why is a Medical Examination Needed?
One of the primary issues with Physical MER is the inconvenience to the patients (proposers), particularly those living in remote or underserved areas. Traveling to a medical facility for an examination can be time-consuming and expensive, making it difficult for some patients to experience this process.
Also, Physical MER can be lengthy, usually requiring multiple visits and tests, which can be stressful for patients (proposers). To address these issues, more efficient and accessible methods of medical examinations became an obvious need.
What is Video MER (Medical Examination Report)?
Video MER, or Video Medical Examination Report, is a process insurance companies use to conduct medical examinations remotely through video conferencing technology. This method allows qualified medical professionals to assess applicants or proposers without the need for in-person visits, thereby enhancing accessibility and efficiency in the insurance underwriting process.
In a Video MER, the insurance company streamlines a medical examination where a doctor interacts with the policyholders via video calls. This includes collecting health history, performing assessments, and discussing any pre-existing conditions. The examination is often complemented by physical tests, such as blood and urine samples, which are collected by a phlebotomist before the video consultation.
The results of these tests are then compiled into a Medical Examination Report (MER) that helps the insurance company evaluate the risk associated with insuring the individual.
Why is Video-based Medical Examination (VMER) Important?
Convenience and Accessibility
Video MER provides an alternative to traditional in-person medical examinations, which can be time-consuming and costly. With the Video MER test, Proposers undergo medical examinations from the comfort of their own homes, reducing the need for travel and increasing the accessibility of medical services.
Reduced Risk of Conflict of Interest
Video MER can also help to reduce the risk of conflict of interest or influence between the medical professional and the proposer. In a traditional in-person medical examination, the medical professional and proposer may have direct contact, which can create a potential conflict of interest. Video MER eliminates this risk by allowing the medical professional and proposer to interact remotely.
Data Security
Video MER recordings can be stored and retained securely, ensuring the privacy and security of policyholders and proposers. This is particularly important in the insurance industry, where sensitive medical information like copies of test results and pathology reports are being shared.
Increased Efficiency
Video MER can help streamline the medical examination process, reducing the time and cost associated with traditional in-person examinations. This can increase efficiency and productivity for medical professionals and insurance companies.
How Video MER Helps Insurance Companies
Video MER (Medical Examination Report) has revolutionized the insurance industry by providing a more efficient and cost-effective way for insurance companies to conduct medical examinations. By leveraging video conferencing technology, insurance companies can review medical exams remotely, reducing the need for in-person visits and associated costs. This approach not only saves time and resources but also enhances the overall efficiency of the underwriting process.
Video MER allows insurance companies to assess applicants' health conditions more accurately, which helps them make informed decisions about coverage and premiums. This results in better risk assessment and more reliable underwriting, ultimately benefiting both insurance providers and policyholders.
What is the difference between Videography and Video MER?
Videography encompasses the recording of medical procedures and various events for documentation and verification. On the other hand, Video MER is a distinct procedure employed by insurance companies to conduct medical examinations of proposers remotely using video conferencing technology.
The primary objective of Video MER is to accurately and efficiently evaluate the health conditions of proposers, enabling insurance companies to make well-informed decisions regarding coverage and premiums. Conversely, videography plays a crucial role in visually verifying and recording all medical procedures, thereby enhancing the integrity and precision of health data utilized in underwriting.
Key Features of Video MER
AI-enhanced MER Checks
Video MER checks are analyzed using advanced AI-driven tools, ensuring that all necessary medical information is accurately captured and assessed. This allows insurance companies to conduct more thorough and reliable health evaluations, leading to better risk assessment and more informed underwriting decisions.
Pre-Issuance Verification Call (PIVC)
Insurance companies conduct Pre-Issuance Verification calls to verify the identity of the proposer, ensuring that the person undergoing the Video MER is indeed the proposer. PIVC (Pre-Issuance Verification Call) is a verification process that assures the proposer and the insurance company are on the same page, thereby fostering trust and transparency in the insurance contract.
This step improves the accuracy of identity verification and significantly reduces the risk of impersonation fraud, maintaining the integrity of the insurance process.
MER Analysis
After completing the Video MER, the examination report is thoroughly checked through a process called "MER Check" and analyzed AI. This assures that all necessary medical information has been accurately captured and assessed, maintaining high standards for medical examination quality and consistency.
How does VideoSDK transform InsurTech via the Video MER solution?
VideoSDK has transformed the insurance sector by offering a robust and secure infrastructure for Video MER. Our solution enables insurance companies to conduct remote medical examinations efficiently, leveraging advanced AI-driven analysis and enhanced security features. Here are some key ways VideoSDK's Video MER solution has transformed InsurTech:
Streamlined Insurance Operations
VideoSDK's Video MER solution helps insurance companies perform remote medical exams efficiently, reducing the need for in-person visits and costs. This allows companies to handle a large number of exams per day, ensuring policyholders get timely and accurate assessments.
Enhanced Claims Assessment
VideoSDK's AI-driven transcription and summary features ensure accurate documentation and analysis of medical exams. This reduces the risk of misinformation or fraud, helping companies make better decisions about coverage and premiums.
Improved Customer Experience
VideoSDK's high-quality video calls provide a seamless exam experience for policyholders, even in Tier-2 and Tier-3 regions. This boosts overall customer satisfaction, building trust and loyalty with the insurance company.
Data-Driven Decision Making
VideoSDK's recording and analytics offer detailed insights into client-agent interactions, helping companies make informed decisions about coverage and premiums. This transparency enhances trust between the company and policyholders.
Compliance and Security
VideoSDK's enterprise-grade infrastructure ensures secure storage and transmission of data, following guidelines like IRDAI and GDPR. This maintains the integrity of the insurance process and protects policyholder information.
This innovative solution has enhanced the accuracy of claims assessment, improved the customer experience, and enabled data-driven decision-making, ultimately revolutionizing the insurance industry.
Conclusion
As the insurance landscape continues to evolve, Video MER is playing a pivotal role in shaping the future of medical examinations. By providing a more convenient, efficient, and transparent experience to proposers, Video MER empowers insurance companies to offer higher sums assured at lower premiums, ultimately benefiting both the industry and the consumers.
Video MER has emerged as a transformative solution in the insurance industry, revolutionizing the way medical examinations are conducted. By leveraging video conferencing technology, insurance companies can now offer a more convenient, accessible, and efficient process for proposers to undergo medical assessments.
As we mentioned, one of the key players driving this innovation is VideoSDK, a leading provider of video conferencing solutions. VideoSDK's robust and secure platform has been instrumental in enabling insurance companies to seamlessly implement Video MER. Our solution ensures high-quality video and audio, advanced AI-driven analysis, and enhanced security features, making it an ideal choice for insurers.
