How to get Much more from your Claims Vendor Management

As an insurance claims department, it’s much more than likely that you invest up to 80% of your operational budget on vendors and key suppliers. Without the establishment of clear guidelines and accountability, it does significantly increase the risk of substandard vendor performance that will result in a slowed disposition, increased payout, and could ultimately mean lost clients. So the main question arises here is, How to get Much more from your Insurance Claims Vendor Management I’ve found that the easiest way to make sure that there’s not a percentage point of that 80% going to waste is to use a system called “FileIns”. The tag line is “send it, track it, analyze it” and nowhere have I seen a system anywhere near as efficient as this one. Not only is it customizable by the insurer but FileIns allows you to electronically transfer files, to track authorizations, and to identify and react to early trends and outliers. It allows the insurer to reward the high performers as well as weed out those that aren’t very meeting expectations. Here’s how it works: Drag and drop the files from the insurer’s existing system and then electronically refer these files to the vendors. Of course, this is all done in safe PIPEDA compliant 1024-bit encryption that guarantees a secure connection. Then FileIns will track these documents, any activities or interactions with vendors, and it’ll allow you access to a searchable database for contact, contracts, reports, etc. From there, FileIns will analyze and review the performance against established insurer criteria as well as point out any trends. There are similar programs out there that make the attempt to do what FileIns does on an individual speciality basis, but none provide a multi-vendor platform and they don’t remotely compare when you take into account FileIns multiple offerings. Nowhere else have I found a program that combines all of the attributes that this software does, not to mention the degree of frees customization that is accessible here. FileIns works entirely off what the insurer puts in as performance indicators. To put it bluntly, FileIns is a Should for any insurer.It’s a useful tool that promises to get much more done, much more efficiently, at a lower cost, and in less time. And this is how you can get Much more from your Claims Workflow

So using FileIns is highly Recommended!