In part 2 of this series on cutting cost without overloading claim handlers I given an example of hiring a part-time employee to review legal bills. As noted, sometimes specific types of work, such as legal bill review, subrogation and anti-fraud, can best be handled by dedicated resources. Hiring a part-time employee that can focus on an area of claims is sometimes the best way to get results. Overworking claims handlers with additional tasks not part of their core job function – to evaluate and settle claims – can result in some aspect of their job suffering. Key cost cutting initiatives, such as Anti-Fraud and subrogation recovery, get put aside by the handler and never get the fullest attention needed to be successful. Take a look at the latest example of solutions that work.
2 Cost-Cutting Solutions To Get Work Done Without Overloading Claims Handlers
Too Many Tasks, And Hiring New Staff Is Not An Option? (Part One of Two) Not … 2 Cost-Cutting Solutions To Get Work Done Without Overloading Claims HandlersRead more
Medicare Secondary Payer Enhancement Act Being Introduced in Congress Could Address Many Concerns of Section 111 Reporting
Dealing with MSP Can Feel Like Walking Into a Maze The Medicare Secondary Payer Enhancement Act … Medicare Secondary Payer Enhancement Act Being Introduced in Congress Could Address Many Concerns of Section 111 ReportingRead more
The 5 Essential Components of Defense Attorney Reports That Can Improve Claims Costs and Outcomes
Why are Attorney Evaluation Reports sometimes so light? I was recently conducting an audit of claim files and had the opportunity to review a significant number of Attorney Evaluation reports from a variety of law firms. Like many other things in life, some were better than others. What seemed to be most glaringly consistent was the inability of counsel to truly provide an assessment of exposure and what the case is worth. Every counsel evaluation report should contain 5 basic components that I outline and attorneys should be required to provide their actual valuable opinion. [More…]
Considering Forming a Captive? Maximize Your Claims Benefits In 3 Steps
The Benefits Of Forming A Captive Are Great – IF – You Set It Up And … Considering Forming a Captive? Maximize Your Claims Benefits In 3 StepsRead more
Saying “I’m Sorry” Can Reduce Exposure to New Claims
It may seem counter intuitive, but with the right technique a heartfelt apology can help lower claims costs and exposures There is a wave of civility sweeping through the world of risk management as a way to lower exposure and reduce costs: Apologize. Maybe mom was right when she stood there and said “now say you’re sorry.” In fact, there are some very impressive statistics in the area of medical malpractice around the simple use of an apology. Regardless, there is a proper way to apologize while protecting rights and some policy considerations to consider.
7 Considerations When Drafting Claims Guidelines
Claims departments employ professionals that want to do a good job for policy holders as well as the company, and claims guidelines should help foster those goals. Before drafting guidelines there are a few things that should be considered and we, along with our fellow blogger Phil Loree, suggest 7 things a company should consider when drafting claims guidelines.
Thinking Outside The Box: Litigation management program initiatives can substantially lower costs
Managing litigation is an easy way to save extra expense costs on claims files. A strong litigation management program designed to help foster improved communication, and streamline defense of insureds, benefits all parties involved. As I wrote about the cost savings benefits of out-of-the-box claims handling, using new and forward thinking strategies for litigation management is an excellent way to save money. Using specialized vendors, claim handlers can further control legal costs as well as enhance their defense.
3 Essential Report Types That Insurance Executives Should Use To Analyze Their Claims
Today’s modern claims systems have a wealth of knowledge about every aspect of claims operations. With the right reports it should be easy to get a basic snapshot of how effective your claims are being managed, and how well your business is doing. With all that information where is one to start? What are the key metrics that should be reviewed by claims and business executives to better understand their operations? We give three specific report types that claims executives should review on a regular basis to get a valuable snapshot of their organization.
Important Update: Medicare Secondary Payer changes production date to January 1, 2011
The Centers for Medicare/Medicaid Services (CMS) have announced the following: CMS advises all NGHP RREs that … Important Update: Medicare Secondary Payer changes production date to January 1, 2011Read more