Like law firms, there are a number of ways insurance companies can benefit from outsourcing their medical records requests to a company who are trained in record and document retrieval. Although most law firms have been outsourcing this type of work for a number of years, insurance companies are only just starting to realize that they can benefit from using one of these companies. These retrieval companies obtain the information and medical records you require,so that you can quickly make payment decisions on claims.
Although most insurance companies already have staff members or in-house teams who handle this process, there are a number of advantages to outsourcing this work. The retrieval companies are trained in accessing the records you need cost-effectively and quickly. Here are some of the main reasons why you should consider outsourcing your medical record retrieval services:
1. It’s Cost Effective
A medical document retrieval company like americanretrieval.com can help you cut down on the cost of claim payments by supplying you with a claimant’s full medical history. This will not only reduce costs during the claims process, but it also reduces the chances of litigation by giving you an in-depth look into a claimant’s complete medical history. Many claimants choose to withhold information about previous medical treatment or injuries, so being able to access copies of their full medical history is important. Medical document retrieval companies will help you find out all the information you need for the claim you’re dealing with.
Whether you’re thinking about agreeing to a policy for health, disability, long-term care or life insurance, you can also save money by gaining full medical records when underwriting and approving policies.
2. Claims Can Be Processed Faster
Insurance companies who partner with a document retrieval company can automate the retrieval process. These companies review your record requests and quickly provide you with the medical records you need. They know and understand all of the rules, regulations, and subpoena requirements, which means you and your team don’t have to.
3. Claims Can Be Analyzed Faster
Most document retrieval services don’t just deliver the documents you’ve requested, instead, they provide their clients with records that are easy to read, review, search and analyze. Reviewing traditional medical records can be difficult and time-consuming. Many retrieval services try and help with this by making the information easier to understand. This means you can quickly use the information you’ve been given to find what you need.
4. You Can Focus on Other Things
Insurance providers who outsource their record retrieval to a professional company will be able to spend more time on other high priority tasks. Instead of dealing with constant status updates and follow-ups with record keepers, your employees can spend time on other crucial areas of the business.
There are a number of benefits to outsourcing your medical records requests to a professional retrieval service. It can save your business money, it can be faster, it can be analyzed, and it allows you and your employees to focus on other important areas of the business. What’s not to like?