I have been a recovery specialist for the past 15 years and the key to good management of accepted SITF claims is settlement. If a company is assessed $ 90,000 and an SITF claim is settled for $ 150,000 your $ 60,000 in the black.
Recovery companies had been changing 10% recovery fees and that adds up with $ $100,000.00 + settlement. The math will equal big dollars in expenses above the funds assessments. Some companies were smart to start in house recovery programs and not subcontract out the recovery work.
Insurance companies and TPA’s seem to delight in having an inventory of accepted claims.
Now the litigation will begin against the insurance companies and the TPA went money is lost due to the insurance companies and TPA’s failures to secure settlement authorization and settle out the claim. Settlement are further complicated by medical offset do to Medicare benefits and the clock is ticking on the money that will be available for settlements.
Texas will be the home of litigation as the insured seek general and punitive damage for E&O issues.
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I have been a recovery specialist for the past 15 years and the key to good management of accepted SITF claims is settlement. If a company is assessed $ 90,000 and an SITF claim is settled for $ 150,000 your $ 60,000 in the black.
Recovery companies had been changing 10% recovery fees and that adds up with $ $100,000.00 + settlement. The math will equal big dollars in expenses above the funds assessments. Some companies were smart to start in house recovery programs and not subcontract out the recovery work.
Insurance companies and TPA’s seem to delight in having an inventory of accepted claims.
Now the litigation will begin against the insurance companies and the TPA went money is lost due to the insurance companies and TPA’s failures to secure settlement authorization and settle out the claim. Settlement are further complicated by medical offset do to Medicare benefits and the clock is ticking on the money that will be available for settlements.
Texas will be the home of litigation as the insured seek general and punitive damage for E&O issues.