Claims Audit Services
Most self-insured or high retention companies have historically only audited their claims program and third-party administrator (TPA) policies and practices if a problem or issue surfaced. Now, in the age of corporate governance protocols, internal best practice scrutiny and increasing cost pressures, companies want a proactive look at their TPA claims services in order to identify and correct issues before expensive payouts or penalties are incurred.
Our core audit objectives are simple:
- Assure financially sound reserving practices/ philosophies
- Provide peace of mind – the knowledge that your programs are compliant with industry best practices
- Assure that any program deficiencies have been identified and a comprehensive strategy for corrective action is in place
- Lower your cost of risk – at the end of the day, our claims auditing & consulting services are structured to lower your overall cost of risk