Analysis of Claims : Report

Added on - 06 Jun 2020

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Analysis of Claims
Table of ContentsINTRODUCTION...........................................................................................................................11...................................................................................................................................................12...................................................................................................................................................13.a...............................................................................................................................................23.b................................................................................................................................................23.c...............................................................................................................................................43. d..............................................................................................................................................53.e................................................................................................................................................64.a...............................................................................................................................................74.b................................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONMalpractices in medical has been increased as per the study published in US news andWorld Report. The medical malpractice in United States accounts for $55.6 billion a year (Sachs,2018). In accordance with this context, the report aid in examining the data collated by TheUnitedHealth Group of America, a health insurance provider. The aim is to develop a betterunderstanding of claim paid out for medical malpractice lawsuit. Preliminary analysis of thecollected data will be made in order to produce an effective report showing which hypothesis aresupported and which are rejected.1The total Claim payment amount was $14.7 million. The overall summary of the data is providedbelow in the table:Table1: Overall summary of claimsAmountMean73457.49Standard Error2275.36Median72571.3Mode5400Standard Deviation32178.49Sample Variance1035455635.00Kurtosis5.99Skewness1.15Range227177.8Minimum1547Maximum228724.8Sum14691498.71Count200Confidence Level(95.0%)4486.91The mean amount of the claim was $73457.49. Standard Deviation was 32178.49. The maximumamount of claim taken by the claimants was $228724 and minimum was $1547. The data wascollected from 200 claimants who have taken claims in order to get medical support. Skewness isa measure of the symmetry in a distribution. The Skewness was 1.15 and Kurtosis value was5.99.2a) The average age of claimants1
Out of 200 claimants the average age of claimant identified was 44.5 years.b) The proportion of claimants with “No Insurance”.Table2: The proportion of claimants with “No Insurance”.InsuranceMedicare/Medicaid20No Insurance18Private95Unknown60Workers Compensation7Total Result200From the above table it can be understood that out of total claimants 18 claims were NoInsurance. Thus, overall proportion of the No Insurance was 9%.3.aAn industry report suggest that the average amount of paid claims has dropped below $77500.The evidence to support this argument is provided below:Table3: One sample TestOne-Sample TestTest Value = 77500tdfSig. (2-tailed)Mean Difference95% ConfidenceInterval of theDifferenceLowerUpperAmount-1.777199.077-4042.506-8529.42444.41From the above table it was identified that significant value is 0.077 i.e. (p> 0.05). Thus, thisimplied that industry report statement is true as majority of claims were under $77500. The meanamount of the claim was $73457.49. Standard Deviation was 32178.49. The maximum amountof claim taken by the claimants was $228724 and minimum was $1547.3.bTable4: Number of Claims on the basis of severitySeverityNumber of ClaimsMild262
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