Automobile accidents in 2016 in the state of Michigan numbered over 301,000 separate incidents, according to the Detroit Free Press. Last year also represented a significant increase in traffic-related deaths, with a total of 1,021 people killed. This higher occurrence of crashes combined with the largest number of traffic-related deaths within the past decade also correlates with an increase in automobile no-fault claims. With increasing occurrences of these claims, adjusters face significant challenges regarding time spent on administrative tasks while insurance carriers must confront and mitigate increasing no-fault claims costs.
Injured claimants may require myriad medical services ranging from the use of durable medical equipment, prosthetics, orthotics and medical supplies (DMEPOS) to home modifications and transportation needs. Insurance carriers strive to provide high-quality care for claimants but also must address the rising costs of medical equipment. Working with a third-party administrator (TPA) on automobile no-fault claims will allow insurance carriers to reduce many of the costs associated with these types of claims.
Northwood has over 25 years of experience with auto no-fault claims and provides significant cost savings for insurance carriers. For instance, Northwood’s network of medical providers agrees to provide discounted rates on medical services and prescriptions to Northwood’s clients and their injured claimants. When claimants utilize this network, which spans the United States and Puerto Rico, they pay no out-of-pocket costs on prescription drugs or over-the-counter medicines. This extensive network has been thoroughly reviewed by Northwood and credentialed in order to ensure the highest quality of medical care for claimants with the lowest pricing.Read More
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