Insurance companies administering workers’ compensation and automobile no-fault claims must keep an eye on their bottom line. It is imperative to ensure claimants are indemnified, yet it is also a top priority to hold down costs as much as possible. One important method of holding down costs pertains to provider networks.
As a proven, highly qualified DMEPOS, pharmacy and ancillary service provider with over 30 years of experience, Northwood has put together an extensive provider network. The network spans the entire United States. This is a significant benefit for your claimants since quality DMEPOS and pharmacy providers are located in each state. Claimants will find it convenient to locate a provider within Northwood’s network, which boosts your insurance company’s claimant satisfaction scores.
Further adding to the convenience factor is the elimination of out-of-pocket expenses. When a claimant obtains their physician prescribed service through one of Northwood’s providers within the network, the claimant does not pay anything for the service.
This benefit also means that every physician prescribed service is pre-authorized by Northwood. Beyond adding convenience for your claimants, pre-authorization ensures that every physician prescribed service is injury-related and appropriate for your claimants. Ultimately, having pre-authorization in place translates to your insurance company significantly reducing unnecessary costs because you can be assured that each physician prescribed service is injury related.
Furthermore, each provider in Northwood’s network agrees to provide discounted rates on DMEPOS, pharmacy, and ancillary services. These discounted rates impact your company by lowering the cost of claims, which over time will translate to an improved bottom line.
Even though these providers offer discounted rates with no out-of-pocket costs for your claimants, they are still providing high quality care. Northwood ensures this by having each provider undergo a thorough credentialing process before being approved as a network provider. After contracting, providers undergo a recredentialing process to ensure they continue to meet or exceed Northwood’s high standards for quality care.
Discounted rates, pre-authorization, and elimination of your claimants’ out-of-pocket claim expenses all add up to a significant impact on insurance companies. Your claimants will be more satisfied with your company, driving up your claimant satisfaction scores as well as your retention rates. Discounted rates will directly hold down your claim costs and contribute to an improved bottom line as time goes on.
An experienced durable medical equipment, prosthetics, orthotics and medical supplies (DMEPOS), pharmacy and ancillary service provider such as Northwood can offer access to its provider network and discounted rates. To understand how this can have such an impact on your insurance company and your claimants, please call Rosanne Brugnoni at 586-755-3830 ext. 3771.
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