Improving Your Bottom Line with Northwood
Insurance companies in the automobile no-fault industry must balance a number of tasks within each claim they administer. Adjusters must also balance many priorities within the claims assigned to them, which can be challenging at times. Working with a durable medical equipment, prosthetics, orthotics and medical supplies (DMEPOS), pharmacy and ancillary service provider brings a multitude of benefits to insurance companies and their adjusters, all of which can add up to an improved bottom line for your company.
Improve the bottom line
Northwood is a proven, highly qualified DMEPOS, pharmacy and ancillary service provider with over 30 years of experience within the insurance industry. Over more than three decades, Northwood has developed processes and procedures designed to care for claimants while also improving the bottom line for your company.
As a DMEPOS, pharmacy and ancillary service provider, Northwood partners with insurance companies to administer their auto no-fault claims. This partnership reduces administrative burdens placed on adjusters, which frees up their time to more efficiently adjudicate claims and provide a personal touch for your claimants via proactive communication. This can boost your claimant satisfaction scores and increase retention rates over time, which both contribute to an improved bottom line.
In addition, Northwood embraces technology to benefit the insurance companies it partners with. One example of this is its ability to integrate with any claims system. Northwood’s integration capabilities allow it to easily send and retrieve data about your claimants, which results in a smoother, more streamlined claims experience for your adjusters as well as your claimants.
Northwood also offers pre-authorization services for insurance companies, which is a unique feature not found often among its competitors. Many providers use a formulary instead of pre-authorization, which can drive up claim costs by approving non-injury-related physician prescribed services for claimants.
Pre-authorization on the other hand means Northwood reviews every physician prescribed service to ensure it is appropriate for the claimant and directly related to his or her injuries. Only when those criteria are met will Northwood approve the prescription, guaranteeing injury relatedness on all auto no-fault claims.
Pre-authorization clearly eliminates unnecessary costs by eliminating payments to medical providers for non-injury-related prescriptions. Yet it also allows claimants to fill their prescriptions without having to pay anything out of their own pocket. This is a major convenience for claimants, so it drives up claimant satisfaction scores. It also eliminates the need for reimbursement paperwork, which saves your adjusters additional time.
Eliminate unnecessary prescription costs
Northwood’s extensive experience administering auto no-fault claims translates to multiple benefits for insurance companies as well as their adjusters and their claimants. Please call Rosanne Brugnoni at 586-755-3830 ext. 3771 to review additional ways that Northwood can help improve your company’s bottom line.