The world has been dealing with COVID-19 for more than two years. In that time, major changes and disruptions have occurred within industries across the board. The insurance industry is no exception, especially when it comes to insurance companies administering workers’ compensation and automobile no-fault insurance claims. The novel coronavirus continues to impact the industry, which is why it’s critical to work with an experienced durable medical equipment, prosthetics, orthotics and medical supplies (DMEPOS), pharmacy and ancillary service provider such as Northwood.
The long-term impact of COVID-19 has likely yet to be fully realized or understood. However, that doesn’t mean insurance companies should wait to find out what impacts they may see going forward. The better option is to proactively ensure your company’s claims processes are streamlined so you can hold down the cost of your claims, ensure your claimants are satisfied, increase claimant satisfaction, and improve your retention rates.
Northwood is a proven, highly qualified DMEPOS, pharmacy and ancillary service provider with over 30 years of experience in the industry. Northwood’s partners in the insurance industry benefit from proven processes that can assist in improving these areas within your insurance company.
For instance, Northwood helps hold down the cost of claims by putting pre-authorization in place for every work comp and auto no-fault claim. Because of this, all physician prescribed services are first reviewed by Northwood before being filled, ensuring the services are appropriate for the claimant.
Pre-authorization is also combined with access to Northwood’s extensive network of providers. Over the years, Northwood has added quality medical providers with discounted rates into its networking, benefiting both your company and your claimants. Once a physician prescribed service is approved by Northwood, your claimant is able to obtain the service easily and with no out of pocket cost.
This process is more convenient because it eliminates the need for claimants to save receipts and request reimbursement. In turn, this saves your examiners and adjusters time which can be put to better use within the claims adjudication process. Claimants are more satisfied with their claim because of this added convenience, which ultimately reflects in improved satisfaction scores as well as higher retention rates.
Implementing processes designed to streamline the administration of work comp and auto no-fault claims is a smart move. It’s especially wise as the industry waits to see what the full impact of COVID-19 will be now and in the future.
To learn more about working with Northwood on streamlining your claims processes in order to proactively hold down costs, take good care of your claimants, and improve your retention rates, please schedule a meeting with Rosanne Brugnoni. She can be reached by calling 586-755-3830 ext. 3771.
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