Speeding up the claims process saves both time and money… so how do you do it?
Claims Management is a serious business. Whether your business is car insurance or managing medical malpractice suits – you could save hours of your workday by streamlining that claims management process of yours. But how do you do that? You turn to the one place you can get help with each and every one of your queries… the internet.
Never fear. We have the answers you have been looking for.
- What is the Claims Management Process?
Before we go any further down the rabbit hole, let’s define exactly what it is that we are talking about. Many firms have a claims management process, either because they are insurers themselves, or because they operate in a public facing role which carries some risk. You might even have to manage employees claims if you fail in your duty of care.
The claims management process, then, is how these complaints are escalated and handled within your firm. Are they going to the correct department? Do the claimants feel your response was swift and beneficial? Are you losing clients because of a slow claims process? Each of these factors comes into play when trying to define what the process actually is.
Claims Management should go something like this:
- The consumer raises issues with your firm via letter, form, email, or phone call.
- The claim is received and passed to the relevant department.
- The issue is then treated with the utmost urgency, from start-to-finish.
- The department investigates the queries, letting the claimant know they are doing so.
- A decision is made and support is offered.
- The claimant leaves happy and not distressed by the exchange.
If your claims process doesn’t flow this smoothly, changes need to be made somewhere.
- How to optimize your claims management process
Now that we know what it is, you can try the following things to streamline and optimize your claims management processes. If you are still struggling after following our tips, don’t forget that Talisman Casualty a claims management service provider in Las Vegas, NY.
- Keep Data Accessible
Freeing up where you house your data allows you to find files quickly, thereby tracing down the steps the claimant went through. Something as simple as making it easier to find the claimant’s records can speed up the entire process for all involved. Step one, therefore, is to ensure that your data is readily available to employees, while still following full data compliance laws.
- Train Excessively
Staff cannot be trained well enough in the successful handling of client affairs. Inquiries from customers should be treated with the urgency and care they deserve, and staff need to be effectively trained in how to do this.
- Review and Monitor the process
If you don’t take time to consistently review the cases that go wrong, you won’t make progress on the streamlining front. It’s common business sense that we don’t send our processes and projects out into the world without analytical feedback. Are you acting upon yours?
If you have followed these three steps, then you are already making progress towards swifter Claims Processes.