Ventiv Resource Library
Issue link: https://ventiv.uberflip.com/i/711165
Ensure that the information can be easily accessed If the information is stored in a single location, then everybody who is working on the claim can find what they are looking for quickly and easily. That means you need to be able to store all the relevant information pertaining to that claim in a central online file. A central online filing system will ensure that anyone can jump on at every stage of the claim's life, view the progress and add to the file no matter where they are. This is particularly important when team members get sick or are away, or when different people need to be working on the same document at the same time. Have a precedent so that you can compare the ability to open and close a case Implementing the above measures will allow you to store your data in one location. Being able to look at this data in a clear and comparative format means that you can compare the close times of your team. When everything is optimised, you will get a great snapshot of how long a claim should take and be able to take measures, either on claims that are lagging behind or team members who are under-performing. IMPROVEMENT OF CLOSE TIMES A vital part of cost management is optimising the efficiency of the claims process so that you can drastically reduce the time spent on claims. This is important because the longer a claim is opened, the more money the company incurs. Therefore a good claims manager should be obsessed with streamlining workflows so that maximum efficiency can be maintained at all times, even in spike periods. There are many things you can do to t ighten up your workflow: Reduce double-handling In order to reduce double-handling, the introduction of clarity around a process is vital. Your system should be able to flag to you and your team: • What stage the claim is at during its lifecycle • Who is currently working on it and how long they have been working on it • Allowance for different delegates to access information at their appropriate levels of approval, without affecting other colleagues. 06