Google Cloud Prudentials Introduce Medlm Initiative

Google Cloud and Prudential plc Prudential announced that Prudential is using MedLM, Googles family of foundation models fine-tuned for healthcare industry use cases, to improve the accuracy and efficiency of medical insurance claim decisions.

Prudential is one of the first insurance providers globally to use MedLM, which is typically used by healthcare organizations to build solutions for doctors, hospitals, and other medical providers to deliver better experiences for healthcare workers and patients.

Prudential has taken a truly innovative approach by adapting MedLMs advanced healthcare and medical-specific capabilities to one of its core business processes, said Karan Bajwa, Vice President, Google Cloud in Asia Pacific. This collaboration exemplifies how our strategic partnership with Prudential can empower its workforce to drive confident decision-making, improve the overall experience for policyholders, and create meaningful innovation in healthcare and finance.

MedLM will be used to analyze documents such as diagnostic reports, medications, and invoices submitted with health insurance claims, starting in Singapore and Malaysia over 3-4 months. It will facilitate human decision-making by extracting essential information and precisely coding it for claims, reducing the possibility of errors caused by manual data entry and allowing claims to be processed more quickly and accurately.

The AI will compare its analysis with actual decisions using current approval processes. This will help identify areas where MedLM can improve productivity and provide useful advice to claims assessors.