Claims Management
Claims Management
TEOCO’s comprehensive, web-based management of claims from creation through resolution allows for generation of claims using vendor specific formats, the capture of all correspondence, and the ability to review, approve, and track claims to resolution.
Key Features:
- Improves operational efficiency with centralized management of all dispute claims
- Incorporates a best practices workflow that can be readily tailored to your business processes
- Expedites the negotiation of dispute claims resolution and the receipt of credits
- Increases productivity of claims analysts with automation such as capture and matching of e-mail correspondence
- Facilitates accruals with forecasting of run rates and projected wins
Our claims management solution allows you to manage claims creation, filing and resolution. The web-based application provides designated users throughout your company with access to claims tracking. This enhanced visibility increases the frequency at which claims are addressed and improves your claim win percentage by tracking and escalating claims in an organized and timely manner.
The Claims Management Process
- Claims Creation and Filing - Claim Center supports the loading of claims generated from a cost management system such as BillTrak Pro or ViewLogic or from manual auditing activities to create ready-to-file claims. The claims creation process includes the ability to group claims into a packaged claim for bulk filing and distribution in standard vendor and industry formats which may be required by your vendor contracts.
- Claims Workflow - Claim Center's workflow manages the life cycle of a claim from creation through resolution. The configurable claims workflow lets your organization approve claims prior to filing and forward claims to the correct owners for processing.
- Claims Management and Resolution - Claim Center tracks all correspondence tied to a particular claim number and also supports win projections to aid your financial forecasting. Plus, Claim Center's closeout functionality allows you to tie specific credit win amounts and reasons for resolution for each claim.
Outsourced Claims Management Services
Take advantage of TEOCO's decades of dispute negotiation and reconciliation expertise to manage your claims efforts. We can leverage our existing carrier relationships and knowledge of vendor-specific processes to speed claims recovery. By turning over your aged claims to TEOCO for reconciliation you will free-up internal resources to identify additional savings opportunities.
- Claims Validation - TEOCO will gather all supporting data for each aged dispute you provide. Once completed, our experienced auditors will validate your claim's relevance and request the specific denial reason from the company responsible for the incorrect billing.
- Dispute Escalation - By examining the initial analysis and denial for each dispute, TEOCO determines which claims to close immediately or escalate with your vendors.
- Claims Resolution and Reporting - TEOCO tracks claims through the various stages of resolution and pinpoints claims aging or credit recognition issues to help improve processing and realize savings more quickly.
When you outsource claims management to us, TEOCO will leverage our considerable industry expertise and negotiation tactics to close previously unresolved issues. The end result is timely and accurate recognition of credits for claims filed with your vendors. You can use our outsource claims management services to complement an audit engagement or on a stand-alone basis. Our outsource claims management services are contingency-based, so you pay us only after we start achieving credit wins for your organization.
