First notice of loss plays a critical role in many organizations. The manner in which data is reported, transmitted, managed, stored, organized, and used will dramatically impact the efficacy of an FNOL operation and everything it touches. Whether in use by an insurance carrier, an airline, or other FNOL-dependent organizations, success has been redefined by the widespread implementation of technological advancement. What kinds of technology play such an important role?
Electronic Data Interchange – FROI, SROI and medical bills can be carefully reviewed before submission to avoid delays. This can improve customer service while decreasing costs and reducing error.
Adaptable, Cloud-Accessible Database Functionality – Keep data in the form most conducive to its users with unique, cloud-accessible implementations of data intake, organization, and management.
Multifold Communication – Leveraging modern communication tools like social media and texting to communicate reduces lag time in reporting and management while increasing customer and employee satisfaction.
High Fidelity VoIP – Increase bandwidth, record communications for further analysis, and decrease costs with internet-based telecommunications.
To learn more about first notice of loss and technology-based implementations, read our blog posts or contact us.
Category: EDI Filing
Electronic Data Interchange (EDI) is Now a Cost-Cutting Tool
An electronic filing system allows you to transmit data electronically to other parties while minimizing mistakes and saving time. FROI, SROI and medical bills can be carefully reviewed before submission to avoid delays. Additionally, these are some other benefits of e-Filing:
Improved Customer Service: Timely, resourceful and cost-effective services that help streamline communication with customers.
Quick turnaround time: Mailing, handling and other paper documentation are eliminated as well as processed and reclaimed faster.
Minimizes cost: Compared to manual processing, EDI allows for cost reductions that give staff resources that can be redistributed to other areas.
Other probable savings: Costs associated with procurement, printing, postage, storage, replacement, stocktaking and distributing printed forms are minimized (and sometimes eliminated) with the use of electronic state filing.
Different states have various requirements for EDI filing, so always consult with a professional.
At Actec, we’re committed to helping you with your EDI filing requirements. To find out more about our services, contact us today.
Actec Systems: Comprehensive Incident Reporting
Actec Systems has been providing claim reporting and other data intake services for many years. The experienced specialists are dedicated to providing solutions to commercial and personal insurance carriers, third-party administrators, FMLA services and more. They follow a complete incident reporting process to ensure that the reports are filed on time and accurately, thus avoiding re-submission and hefty fines. Full-cycle reporting starts with a comprehensive analysis of your needs, goals and the current process of your custom workflow. They ensure accuracy, minimization in call times and reduction of follow-up calls.
With Actec, policyholders can call the moment an incident occurs because Actec Intake Specialists are available 24/7, 365 days a year. They collect and disseminate critical
information such as commercial and personal lines claims, short-term disability and long-term disability claims as well non-claim reports and inquiries. VoIP solutions are utilized for connecting policyholder account information with intake specialists. They complete call statistics and then the associated time tracking is summarized. The trainers and supervisors of this incident reporting company monitor daily calls, listen to live calls along with remote observation of FNOL intake. All calls are stored as .wav files and can be easily accessed.
The incident reporting process does not end at the recording of vital details. These claim reports are required to be converted to actionable information so you can manage risks effectively. Complete incident reports are communicated to key recipients and the urgent reports are immediately flagged as high priority according to your business rules. Actec maintains first reports of injury (FROI) for worker’s compensation and does all state filing
processes of FROI as well as subsequent reports of injury (SROI). This incident reporting company provides you with all the data needed to monitor your performance such as the efficiency of in-house solutions, follow-up calls, filings and distributions and many other vital details.
The incident reporting process is aimed at reducing claims paid out, decreasing administrative costs and reducing overall expenses. The actionable data provides you with a complete overview of your organization for managing risks and
increasing profits. For more information, contact us.
Outsourced EDI Filing
Mandatory EDI (electronic data interchange) filing may be the biggest of all headaches in Workers Compensation Claim administration. Requirements vary from state to state. Missing or invalid data leads to time consuming resubmission, filing delays, excess staff time, and even fines.
Our Electronic State Filing Program carefully reviews all submissions for both FROI and SROI as well as annual filing requirements. We follow up for any missing or incomplete information making sure submissions received are accepted. Though these tasks can be accomplished in-house, for most organizations it is more efficient and effective to outsource it to experts in the field.
The state of California recently released statistics to all companies filing Workers Compensation (FROI). Actec had a success rate of 99.1% of all reports submitted that were accepted by the state on the first submission. The industry average for the one-year period was 77.4% acceptance on first submission. Actec works diligently to make sure your reports are filed timely and accurately, thus avoiding re-filing and potential fines. To learn more about how an ESF program can improve operations at your organization, contact us.
The state of California recently released statistics to all companies filing Workers Compensation (FROI). Actec had a success rate of 99.1% of all reports submitted that were accepted by the state on the first submission. The industry average for the one-year period was 77.4% acceptance on first submission. Actec works diligently to make sure your reports are filed timely and accurately, thus avoiding re-filing and potential fines. To learn more about how an ESF program can improve operations at your organization, contact us.
EDI Filing – A Vital Component of Claim Management
Actec Systems is a leading provider of incident reporting and claim management services in the insurance industry. Having been in this field for many years, they have special expertise in handling workers’ compensation claim administration, short-term and long-term disability claims. The specialists pay special consideration to quick and accurate
capturing of complete information. It is vital that when an incident occurs, complete and critical details are collected. First Notice of Loss is the first report of a claim and forms an important part of your risk management program.
Whether it is commercial and personal lines claims, non-claim reports and inquiries or catastrophic events, Actec Systems is the best source for all of your risk management needs. The intake specialists are available 24/7, 365 days a year so that all vital details can be recorded in First Notice of Loss. The incident notices are then distributed to other
specialists for a quick turn-around. With Actec Systems, you need not worry about the security of the information as their internet self-entry is completely secure. It is integrated with a back-end intake system to ensure there is no loss of functionality. EDI filing is also a part of their services. Claims are submitted via electronic data interchange for the purpose of submission, dissemination and data consolidation.
EDI filing is required to be done by every company and most of them find it difficult to complete the complications involved. With the increasing role of e-commerce, no business can afford to ignore the relevance of the internet in the success of their enterprise. The requirements of EDI filing are different for different states and without the help of professionals; it can be a time-consuming task. Also, missing or invalid data or delays in filing can cause you more fines and troubles. The specialists at Actec Systems
are committed to helping you with all of your EDI filing needs. They carefully review FROI, SROI and medical bill filings before submission to filing to avoid delays and time-consuming submissions. The best practices followed by Actec reduce the need for follow-up. For more details, please browse through www.actec.net.
Electronic State Filing
Mandatory EDI filing may be the biggest headache in Workers’ Comp claim administration. Requirements vary from state to state. Missing or invalid data lead to time-consuming resubmission, filing delays, customer frustration, and even fines. If EDI filing gives you pain, Actec spells relief. Our experts carefully review FROI, SROI and medical bill filings prior to transmission to make sure your filings are done once, Done Right!.
Contact Paul Neleman to learn how Actec can improve your Electronic State Filings