Are Your Claims and Underwriting Data Fit for Reviews?
At one point or another, all businesses suffer from “silo fatigue.” With little overlap in functions and day-to-day operations, it makes sense that departments lose sight of the impact they have on other areas of the company.
Do you know how your department impacts other operations? As part of your carrier’s quality assurance department, there are several ways you’re positively impacting your company’s bottom line.
- Adaptability — One of the hallmarks of a well-run QA department is its adaptability. The more flexible and scalable your QA process is, the better you are at adapting to change when business needs demand it. This primarily benefits your organization by improving QA’s visibility so it’s not seen as a resource drain. The quality team’s ability to maintain operational independence means you contribute seamlessly with minimal internal disruption. Your IT department will thank you.
- Efficiency — Well-run QA departments excel at efficiency. The automation of redundant functions frees up valuable time to focus on the more pressing issues, and your QA process should mirror this philosophy. Can you access all of your data quickly and through a single interface? This “drill down” method should quickly identify critical metrics, offer rapid access to vital data and allow for the easy creation and distribution of custom reports.
- Data Integrity — Business benefits emerge only if you have complete trust in your data. By housing your QA process in a single interface whose only purpose is handling claims and underwriting audits, you can better control data integrity. This will reduce human error and provide much needed consistency. With real-time access to trustworthy QA data, it’s easier to identify business trends and critical issues like leakage.
- Root Causes — With all of your data in one place and control over inputs, you’ll find it much easier to evaluate employee performance and claim quality. You can confidently link performance problems directly to financial outcomes and provide clear data that’s understood at every organizational level. Patterns can be identified and addressed immediately so they never evolve into major problems.
teamthink® – Insurance QA Made Simple
teamthink®, from Athenium Analytics, is a powerful SaaS insurance QA suite for claims and underwriting reviews. teamthink supports quality gap analysis via real-time, customized reporting that captures rich quality data like leakage, comments with flags, file attachments and more.
- Measure performance and analyze results against your best practices, KPIs and compliance requirements.
- Develop reviewer questionnaires and audit forms that fully support your quality assurance goals.
- Use a suite of standard reports and dashboards to quickly understand metrics that matter most.
Read more in our whitepaper, Automating Data Integrity for Insurance QA Programs:
Still early in your QA journey? Learn more about teamthink Envoy™ for smaller teams.