Within the automobile no-fault and workers’ compensation industries, there is no shortage of data to be collected. Data is a critical component to making informed decisions about potential changes within your company. In fact, data can be highly informative when it comes to claimant care and your claimants’ overall experience with your company.
Measuring how satisfied your claimants are with their claims experience can be particularly helpful. Claimant satisfaction scores tend to be an accurate indicator of how likely a claimant is to renew their policy with you. If your claimant satisfaction scores tend to be lower overall, your retention rates may also reflect this. When claimants do not have an excellent experience within their claim, they may choose not to renew their policy.
Having claimant satisfaction data on hand will help you pinpoint which areas of your claims adjudication process could use improvement. For example, if claimants tend to be dissatisfied with the care they receive from medical providers in your network, you will want to examine this further for improvement opportunities. You may find that claimants are dissatisfied with specific providers in general, which may mean your company needs to review care standards. If certain providers are not providing excellent care for your claimants, it may be time to part ways with those providers.
On the other hand, if your claimant satisfaction scores tend to be high in certain areas, you will want to continue those processes. For instance, if you receive consistently high satisfaction scores when it comes to communications with your claims team members, you may not need to make many changes to this area. If the data show claimants are not satisfied with communication during their claim, you will want to consider various ways to improve upon this area. This could mean starting a customer care line if you do not already have one in place, or it may mean adding additional hours to the care line so claimants have more access to it.
Analyzing data to implement changes that improve claimant care is a smart move for insurance companies. However, it can be a time-consuming task, especially if you do not yet have processes in place for collecting data, such as claimant satisfaction scores, to guide you.
Northwood is an experienced durable medical equipment, prosthetics, orthotics and medical supplies (DMEPOS), pharmacy and ancillary service provider with over thirty years of experience in the insurance industry. During that time, Northwood has become adept at collecting the appropriate data and analyzing it in order to bring about improvements for claimants as well as insurance companies. Please call Rosanne Brugnoni at 586-755-3830 ext. 3771 for a customized look at how your company’s data can lead to improved care for claimants.
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