Benefits of a Pre-Authorization Process

The proper and efficient administration of workers’ compensation and automobile no-fault claims is vital to an insurance company’s continued success. As every adjuster and examiner knows, the first duty is to restore the claimant to his or her previous state after he or she experiences an injury due to a claim. Another responsibility of adjusters and examiners is to control costs, improve productivity, decrease cycle time and improve customer service.  

With the myriad of responsibilities and tasks assigned to adjusters and examiners daily, it can be incredibly challenging for them to efficiently administer claims at times. Having an experienced resource to draw upon can dramatically increase adjuster and examiner productivity as well as assist in controlling claims costs. In addition, productivity levels can be increased when adjusters and examiners have access to proven systems within this resource that streamline claims adjudication. These benefits are realized through a partnership with a trusted third-party administrator (TPA) that has the experience and knowledge to act as that resource as well as implement efficient processes that can impact an insurance company’s bottom line. 

https://www.northwoodinc.com/benefits-of-a-pre-authorization-process/

HOW THE HEALTHCARE COMMON PROCEDURE CODING SYSTEM CAN COST YOU MONEY

As all adjusters and examiners working within an insurance company know, both automobile no-fault claims and workers’ compensation claims come with inherent complexities and intricacies. Besides being responsible for indemnifying each and every claimant, adjusters and examiners are also responsible for holding down the cost of each claim administered. Controlling claims costs and preventing overpayments and unnecessary payments is not an easy task and requires a significant portion of administrative time on each claim.  

While there are many factors that come into play when it comes to the increasing cost to administer both auto no-fault and workers’ compensation claims, one particular factor stands out. The Healthcare Common Procedure Coding System, or HCPCS, as it is commonly referred to within the industry, contains its own unique complexities that can be tricky to navigate. The time-consuming nature of reviewing provider HCPCS codes for accuracy means that adjusters and examiners may spend a significant portion of time on this aspect of many of their claims. Increased time spent on this facet of no-fault and workers’ compensation claims translates eventually to an overall increase of claims costs for an insurance company. 

https://www.northwoodinc.com/healthcare-common-procedure-coding-system-can-cost-money/

Workplace Eye Wellness Month

March is Workplace Eye Wellness Month. Your eyes are something you use every day and sometimes take for granted. You just expect them to work and do their job. A startling fact is that over 2,000 Americans, every single day, suffer some form of eye injury. This equates to over $300 million in medical expenses, workman’s comp claims, and lost work time.

When you think of an eye injury, you most likely think of something striking the eye, splashing into the eyes, or having debris or dirt enter the eye, but these are only some of the injuries that can happen to your eyes. With the advent of all the electronic devices that you can use, eye strain and fatigue is also a frequent problem. If you work on a computer, you could be staring at your screen for six to eight hours per day. This is work time computer use; most people also jump on their computers at night to catch up with family and friends. If not their computers, then they are looking at their phones to catch their mail or text messages. This can lead to eye fatigue and possibly dry eye, along with headaches and body aches from remaining in the same position for an extended period. With all of these potential dangers to your eye, how can you protect yourself?

https://www.northwoodinc.com/workplace-eye-wellness-month/