Verisk announced MSP Navigator is the latest Verisk product to be made available on Duck Creek's Content Exchange. MSP Navigator provides casualty insurers with an efficient solution for Section 111 reporting, and they can benefit from the advanced automated reporting and analytical capabilities of the platform, facilitating compliance and avoiding civil monetary penalties. Verisk's proprietary platform offers a simple, effective method to identify Medicare beneficiaries for timely and accurate reporting of ongoing responsibility for medical treatment, settlements, judgments, awards, or other payments to the Centers for Medicare & Medicaid Services (CMS) as required by Section 111 of the Medicaid & Medicare SCHIP Extension Act of 2007.

How MSP Navigator supports compliance and offers rich analytics Section 111 is a time-consuming and costly activity, with large penalties for late or inaccurate reporting. With MSP Navigator, insurers can focus on timely reporting with minimal errors. In fact, 99.9% of claims reported to CMS through MSP Navigator contained zero errors, based on 2022 data from nearly 4,000 Responsible Reporting Entities (RREs) and 1.4 million claims reported.

The platform offers advanced reporting and analytical capabilities, providing insurers with data-driven insights. This is especially critical with the announcement of the finalized Section 111 penalties going into effect in 2024.