Let’s set the scene: In May 2024, Grant Thornton Australia made a bold move. After a … From Copilot to Claims: What a 9-Day Schedule Tells Us About AI’s Real Value in Claims OpsRead more
Cost Savings
Why Engaging an Independent Claims Expert is so Critical to Successful Technology Implementation
Yes, I am biased. I am an independent consultant, but I have also worked at a … Why Engaging an Independent Claims Expert is so Critical to Successful Technology ImplementationRead more
Part 2 on Leadership: Developing a Strategic Transformation Team
Breaking from the linear approach to management is the key to leading Strategic Transformation. A standard organization will have a head of claims and then a variety of department heads to manage each line of business. Depending on the company there may be additional senior managers to handle various operational aspects of the group, which may include support staff, call center, technology and data analytics. Under this method, projects get initiated and managed within the same linear organizational framework. The result of this approach is a development process built in a silo that limits input and understanding of possible interdependencies that may exist outside the framework. In this post we will explore further how a strategic transformation team is formed and can be effective.
Leadership: The Change Process In Claims Requires A Different Approach
Successful organizations are always changing and adopting to improve their operations, lower costs and increase efficiencies. Claims departments are no different and have been under pressure to transform their operations and live by the mantra of doing more with less. Good claims organizations continuously evolve and adapt to ensure they add value to the overall business. Regardless, changing to meet the challenges of the marketplace is often fraught with problems and difficulties. Many initiatives fail to get off the ground or fail in the implementation process. Change can be very successful and if managed and led correctly. To change effectively there must be a strategic approach and a change in how these initiatives are led.
Insanity: Claim’s Departments Can’t Expect Different Results Without Changing Their Organizations
Maybe I care too much about our industry or am just frustrated by the lack of attention to quality claims handling, but this is annoying. Why should claims make up half of the most frequent market conduct issues for the Property & Casualty industry as listed by Wolters Kluwer for the 5th straight year? As part of their review they track and analyze the results from state market conduct examinations. As with their prior studies, claims issues continue to dominate the list of state concerns. In my latest post I analyze the last 5 years of the Wolters study and find an upsetting trend – nothing is changing. This is a challenge to claims organizations to improve! Check it out.
2 Approaches To Early Resolution And Cost Savings For Litigation Guidelines
We welcome Nancy Hudgins as a contributing author to the Claims SPOT. Nancy is is a national mediator based in San Francisco and will be writing on resolving claims. In her first post, she points to two methods to early resolution and ways they can cut litigation cost.
Getting Creative And Reducing Claim Costs Without Sacrificing Quality – Part II
Last month, Suzanne Ganier discussed the building blocks needed to reduce claim and litigation costs, while still maintaining a strong focus on quality. Those building blocks included:
* collecting current data about your claims and litigation
* evaluating the claim and litigation work itself
* settling on a carrier claim and litigation handling philosophy
In her follow up, Suzanne discusses how these building blocks create a foundation on which to build new processes and procedures that will reduce your claim and litigation costs, and maybe even decrease you volume as well. I refer this building process as looking at What I Have, What I Want, and What I See.
6 Steps To Reduce Expenses For Medical Experts As Suggested By The Expert
The traditional method for preparing an expert is to send them the entire record and let them review for possible issues. Dr. Philip Lanzkowsky, a medical expert providing opinions and testimony on cases for both plaintiff’s and the defense, raises some practical questions and provides a series of suggestions as to how those expert costs can be reduced.
Read more in this interesting post of expense reduction of medical expert costs as suggested by the expert.
Cutting Costs Without Overloading The Claims Handler – Part 2 Of The Series
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