Full-Cycle Claim Reporting – Accuracy Is Key

Posted on

October 28th, 2014

Full cycle claim reporting refers to a comprehensive approach to claims and incident reporting. In some instances, full-cycle claim and incident reporting is also referred to as claims intake and reporting, or even within the general context of first notice of loss (FNOL). The concept is fairly simple; an individual has experienced a loss, theft or damage and needs to reports the specifics to their insurance carrier, third party administrator or self insured organization. It is important that this intake is professionally handled, promptly addressed and accurately recorded. The intake is extremely important to ensure the resulting claim is accurately reported. Full-cycle claim reporting refers to a comprehensive, one stop approach to this situation. Key components of a full-cycle solution include:

Companies can report all claims to a single claim reporting service
Claim reporting is fully integrated into the system
All the information needed for processing is completed on the first report
Workflow changes can be easily to accommodated to meet new requirements

There are accurate metrics to determine the actual cost of claim and incident reporting. With first notice of loss, it is important to close claims quickly and manage risk at all levels of the organization. FNOL intake specialists should be available 24/7,365 days a year, to ensure accurate and timely intake whenever an incident occurs and to handle after-hours incidents and overflow. It is also an opportunity for companies to demonstrate their commitment to employees, by ensuring employees receive rapid and professional response, during what is likely to be a very stressful time, namely the reporting of a loss or theft. Creating a full-cycle claim reporting system to respond, monitor and measure the FNOL process is a key component in success in this complex scenario. Many companies outsource their first notice of loss to a full cycle claims and incident reporting specialist, particularly when the consider the challenge of a 24/7, 365 day a year schedule.

Top Incident Reporting & Claims Management Blogs

Posted on

October 14th, 2014

Andrew

Incident reporting and claims management are vital components of an effective first notice of loss program. Executing these fundamental yet nuanced tasks requires a deep understanding of claim intake methodology, a high degree of organization, and a sense of urgency. To better understand why these issues are so important for your business and the ramifications of going without FNOL solutions, check out these blogs:

High Tech Claims Management and Incident Reporting

Posted on

September 15th, 2014

Andrew

In incident reporting and claims management, it’s critical to stay ahead of the game. This means leveraging all available methods of communication and organization to optimize the client experience. Data integration across all contact methods is crucial. This includes telephone, e-mail, fax, and web entry in order to ensure consolidated reporting and may be filtered by contact method. Individual notices should immediately transmit via automated e-mail or fax to any number of recipients, based on the location, type of report and other criteria.

Scheduled summary reports must also available, allowing regular electronic distribution of reports daily, weekly, monthly, or by custom period to multiple recipients based on level of management within your organization. VoIP solutions are invaluable in enhancing telephonic intake by quickly connecting intake specialists with policyholder account information. Call switch statistics must be available for management reporting by individual incoming number. With these tools, complete call statistics and all associated time tracking may be summarized and archived down to thirty-minute intervals.

To maintain quality standards, Actec trainers and supervisors monitor daily, listening to live calls and recordings in conjunction with remote observation of FNOL intake. We record all calls, which are stored as .wav files and readily accessible. Using RightFax, we are also able to log and distribute in- and out-bound faxes and e-mails for efficient and fully accountable document management. Thorough, advanced organization is key to achieving FNOL success via claims management and incident reporting.

Actec Systems: Comprehensive Incident Reporting

Posted on

September 5th, 2014

Andrew

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.

Incident Reporting and Claim Intake Best Practices

Posted on

May 28th, 2014

Andrew

Cost-effective incident reporting management is dependent upon capturing accurate information, the first time, whenever an incident occurs. When policyholders call to report a notice, they should be greeted on behalf of your organization by an Intake Specialist, trained to handle worker’s compensation, auto, property, general liability, short-term disability, and long-term disability claims. Intake Specialists capture all relevant data using a best practices workflow developed over years of first notice of loss (FNOL) experience. Alternatively, enter notices can be entered directly into your in-house claims management application via the Internet or secure connection. Providing Medical Coding, Duplicate Checking, Quality Assurance Reviews and Notice Completion in addition to streamlined and skilled services keeps Actec Intake Specialists ahead of the curve.

Catastrophic Incident Reporting

Posted on

February 26th, 2014

Andrew

Catastrophic incidents can overwhelm your in-house claim reporting center. Professional call centers can help. For example, our call center is equipped with multiple T-1 and T-3 lines and state-of-the-art VoIP switch technology to handle high volumes. We design custom scripts to capture the information you need and implement them for call center intake, email/fax entry and/or Internet self-service immediately. These attributes are critical to proper catostrphic incident reporting. To learn more, contact us.

Efficiently Manage Your Risks with Incident Reporting Services

Posted on

June 27th, 2012

Andrew

Actec Systems is a reputable name in the industry for providing efficient incident reporting services to clients. The intake specialists are experienced in handling calls and reporting all vital details at FNOL. The call center employs multiple T-1 and T-3 lines and the most advanced VoIP switch technology so not a single call gets missed. They conduct an in-depth analysis of your goals and design customized scripts to capture the details that you need and then offer your customers various reporting options such as e-mail, fax, internet and electronic file submission. They improve the quality and quantity of the data captured. The specialists at Actec Systems are experienced in designing and implementing highly intuitive workflow driven applications for your business.

The best feature of Actec Systems is that their solutions are customer driven. For effective incident reporting management, they employ the best practices for capturing complete information at the first time. The customized workflows ensure accuracy and reduction in call times. All data is accurately recorded in their proprietary system. The claims reports are then converted into actionable reports so you can start investigations, track activities and manage risks. The complete incident reports are sent to various recipients such as government agencies via EDI, mail, phone, e-mail or other format.

Incident reporting services help reduce the claims paid out, the handling expenses and administrative costs. The litigation costs as well as medical expenses also get reduced. Their clear and accurate details provide you a complete overview and you can easily identify risks and manage them. The benefits of incident reporting management include lowering call handle times and increasing the efficiency of customer services. With Actec services, you can gain a complete view of claims operations through real-time analytics. You will be in a position to conveniently resolve claims faster and gain higher customer satisfaction and loyalty. For more information about Actec Systems, please browse through www.actec.net.