Unknown Claim Management Void Affects Insurance Industry Profitability
Tampa, Florida – November 27 – A report released today by a leading consulting company outlines how an unknown void in claim management is severely impacting the insurance industry’s profitability. Rehab 1 Corporation, the Clearwater, Florida-based firm responsible for the report, details how carriers with exposure to certain types of medical claims are lacking the systems to adequately address health care provider accountability.
“We’ve identified a problem that’s costing the insurance industry hundreds of millions of dollars annually. What’s truly amazing is the carriers affected by the dilemma don’t even realize it. Our focus now is to expose the problem and help the industry eliminate it,” said Bruce Pitcher, founder and president of Rehab 1.
According to the document, a variety of health care providers rendering physical rehabilitation are unable to comply with jurisdictional guidelines in their service delivery and corresponding reimbursement request. This non-compliant scenario, and the carriers’ lack of systems to identify it, has the insurance companies paying for claims that should not be reimbursed. The problem is nationwide and affects carriers that are responsible for claims arising from automobile, workers’ compensation and health coverage.
The report goes on to point out a key issue for a solution to the industry’s problem lies in a carrier’s ability to augment standard subjectively-based claim management systems with objective systems that center solely on the problem. Pitcher indicates, “Once carriers implement ‘objective’ accountability challenges, providers will have to become compliant or they simply won’t get paid.” The complete article can be viewed at http://www.rehab1corp.com/PDF/Claim_Management_Void_11_07-1.pdf
Rehab 1 Corporation specializes in supporting the insurance industry for health care compliance issues relating to musculoskeletal rehabilitation. The company can be reached via telephone at 727-448-0000 or by email at firstname.lastname@example.org. Its Web site is www.rehab1corp.com.
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- Rehab 1 Corporation
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