The purpose of CC’s Claims Closure practice is to proactively identify and prioritize those claims that can be accelerated to close sooner and with all of the appropriate and required compliance measures taken, such as Medicare Set-Asides for those cases involving Medicare beneficiaries. We want to see you begin to close more claims efficiently and save money in the process. Contact us today!
Tired of Unresolved Claims?
The Claims Closure Services Practice of Cornerstone Compliance (CC) has extensive experience working on claims closure projects. Individual claims and books of casualty business that are allowed to languish without a game plan for resolution can end up costing corporations and insurers significant dollars resulting in extra and often times unnecessary indemnity and expense payments.
Unfortunately, claims may languish due to a number of reasons such as inexperienced adjusters, TPAs handling large volumes of claims simultaneously, high staff turnover rates, and/or the movement of books of business from one claims administrator to another.
Our process involves:
1. Categorizing claims by settlement opportunity
2. Use of Cornerstone Settlements to offer the optimum settlement value to injured workers and employers
3. Reduction of Total Incurred Claims Liability
4. Advice on management of cases
5. Assist in the timely resolution of claims
6. Develop action plans on complex, high exposure or high profile claims and provide regular claims status reports.
A Concrete Plan
Once approval has been obtained to begin the project, CC will interface with the client/claims administrator, reviewing the action plan and creating a project schedule for timely tracking and reporting. This will ensure each claim is progressing within the designated phases. Bi-monthly meetings will be scheduled to provide project status updates and to discuss any issues encountered and next steps. Monthly status reports will be assembled for the client including statistics around claims closed and reserve takedowns.