ClaimTECH Blog - MVA Claims Resolution & Beyond

The Value of Automation in Third Party MVA Claims Management

Posted by ClaimTECH on Jan 12, 2017 5:28:13 PM

Claims automation sounds fast. It sounds worthy of 2017. But it sounds like a fantasy when you think of the current third party MVA claims resolution process.

Today, most third party MVA claims are settled manually. They begin with a motor vehicle accident patient’s information being either typed into a computer or scribbled onto a sheet somewhere. Then Risk Managers in the healthcare industry begin the exhausting process of trying to track down the responsible party, file liens and negotiate reimbursements for their hospital’s medical services.

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Topics: MVA Claims, Relationships, Communications, Automation

How to Settle Higher Reimbursements: The Missing Link Is to Leverage Relationships

Posted by ClaimTECH on Dec 22, 2016 9:54:55 AM

In our experience, the claims industry lacks a crucial aspect of business: Relationships. Healthcare providers rarely speak directly with insurance carriers, and when they do, a sense of cooperation seems to be missing. There is simply too much ‘distance’ in between healthcare providers and insurance carriers.

To imagine providers and carriers building a relationship together is a bit farfetched. At the core of the exchange is a negotiation. Both sides try to settle the claim to the benefit of their respective employers, so from the beginning there is a barrier. Plus, due to size of the industry, rarely does the same adjuster work with the same claims representative on more than one claims resolution.
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Topics: MVA Claims, Relationships

Steps To Reinvent Your Hospital Cash Flow Management

Posted by ClaimTECH on Dec 15, 2016 5:07:42 PM

 

Hospital Administrators, it’s time to roll up your sleeves and address the elephant in the room: How do I improve hospital cash flow management? Where is there money to be saved? And where do I even start?

First, you start with a revenue stream that often gets riddled with inaccuracies, inefficiencies and opportunities: third party MVA claims. It may not the biggest chunk of revenue for your hospital, but optimizing the third party MVA claims process can free up cash immediately, not to mention increase your reimbursement rate going forward.

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Topics: MVA Claims, Relationships