Records play a huge role in the work of all insurance companies, whether they handle policies for life, health, disability, automobile, or others. For life insurance policies, for example, they use medical records in evaluating an applicant’s risk. For auto insurance claims, they use accident and police reports to better assess what really happened in a car crash and if their client is eligible.
Given this, it’s extremely important for insurance companies like yours to retrieve accurate and complete records. This would typically require coordinating with various record keepers and following up with them multiple times, which can easily eat up your in-house staff’s time. What’s worse is that each custodian has its own set of rules and guidelines, forms, and processes, so your employees are likely to make mistakes along the way.
Alternatively, you can save yourself a lot of trouble by availing of record retrieval services. Here are different reasons why doing so would be ideal for your insurance company.
#1 Using record retrieval services makes it easy for you to obtain paperwork
If you partner with our specialists at Record Retrieval Solutions (RRS), all you have to do is submit your record request via our online portal, then we’ll take it from there. There’s no need for you to reach out to your client’s multiple record custodians, or learn the intricacies of getting documents that are protected by complex regulations such as the Health Insurance Portability and Accountability Act (HIPAA). We’ve got all of that covered.
If you want to check the status of your request, you can easily do so on your online account dashboard, which you can access 24/7 from any internet-enabled device. And once your requested documents are available, you can immediately download them in PDF format through our HIPAA-compliant online repository.
#2 Record retrieval companies can deliver documents quickly
With RRS in particular, you can expect to have your paperwork within 12 days on average. We are able to do this because we have developed personal relationships with the different custodians and have a deep understanding of their internal processes, allowing us to communicate effectively with them. We also know the ins and outs of the entire record retrieval process, so we know how to avoid and get around delays.
With faster record retrieval, you have faster access to all the records you need so you can expedite your turnaround time for underwriting policies and settling claims. And with your staff freed from the time-consuming record retrieval process, they can focus on other valuable work that can further hasten your internal processes and improve client relations.
#3 Record retrieval companies conduct quality checks on your record requests
Before you can download your requested records, we make sure that these meet the following criteria first:
Should any of the records fail to meet the criteria, we’ll let you know and immediately follow up with the custodian at no additional cost. This quality assurance process saves you from the headache of contacting the different custodians again if you spot a discrepancy with the paperwork that you’ve received.
#4 You can save money by outsourcing your record retrieval needs
Our RRS specialists know how to obtain documents the right way on the first try. This means you don’t have to pay for extra if your in-house staff make mistakes or take too long in the process of getting paperwork. We also stay updated with all the state laws that provide standardized record copy fees and service charges, so you won’t get charged higher than the legally allowed amounts.
What’s more, since we can help you easily get all the records you need, your insurance company can make proper decisions. For example, when establishing an insurance policy, some people may forget or neglect to provide information about their prior medical treatments. But with our help, you can have access to their complete, up-to-date medical history, which may help lower the cost of a claim and any potential litigation.