Tag: First Notice

FNOL Reporting After-Hours

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January 27th, 2015

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You hope you never have to be involved in filing a claim, but the reality of the situation is that a loss/claim can happen at any given time. It is something we have no control over, however, there is something that we do have control over. Most often rather than not, when a customer makes a call to file a claim, they have to wait some period of time to speak to a claims representative. This delay can sometimes result in legal ramifications.

It is for this reason that a lot of businesses today are outsourcing FNOL for the sole reason being, to enhance and improve the customer experience.

We realize that claims do not traditionally take place between the hours of 9-5. However, with our 24/7 after-hours reporting system, we provide the following:

  1. A well informed claims representative, always ready to talk to you.
  2. Instantaneous care for crucial cases.

The advantage of outsourcing FNOL is that it creates the opportunity for providing quality customer service and at an extremely reduced cost. Here at Actec, we have years of experience in the same with a dedicated and phenomenally skilled personnel to assist your business.

To learn and understand more about Actec and how we can provide you with our services contact us.

Understanding FROI and SROI

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January 13th, 2015

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Understanding what an FROI (First Response of Injury) and SROI (Subsequent Response of Injury) report is can have a huge impact on when, and how, your company handles Workers Compensation claims. Here’s a quick breakdown to help differentiate the two.

FROI – A report prepared by the employer, or other parties, that describes the events and injuries. It is also known by other names, such as the Employer’s Report of Work-Related Accident/Occupational Disease.

SROI – A report required twice a year while a claim is open; when benefits start, stop, or change; when a lump-sum payment is made or when a claim closes.

Electronic state filings for these reports can be a big headache in Workers Compensation Claim administration. Requirements vary by state, and missing or invalid data leads to time consuming resubmission, filing delays, excess staff time, and fines.

Click here to learn about solutions that will help with the review and submissions for each type of report.

First Notice and Corporate Loss Prevention

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November 11th, 2014

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First notice of loss plays a crucial role in loss prevention for large-scale corporations. This manifests in multiple ways. Accidental misreporting or under-reporting can occur, resulting in lost time for the company. Intentional misrepresentation of time, injuries, and other issues can also occur. Without a system in place to track and verify these incidents, problems like these will arise. Studies have shown that the incidence of theft increases dramatically when the opportunity is evident. Employing a thorough FNOL program shows that a company cares about its employees in multiple ways, including increases to the bottom line.

Top Incident Reporting & Claims Management Blogs

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October 14th, 2014

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Incident reporting and claims management are vital components of an effective first notice of loss program. Executing these fundamental yet nuanced tasks requires a deep understanding of claim intake methodology, a high degree of organization, and a sense of urgency. To better understand why these issues are so important for your business and the ramifications of going without FNOL solutions, check out these blogs:

Popular FNOL & Absence Management Blogs

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August 27th, 2014

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First notice of loss and absence management are strategies crucial to optimizing the bottom line for most medium and large businesses. Regardless of your market segment or region of the globe, tracking and controlling absences, injuries, and damages effectively can improve the security and integrity of your business. Such programs can be implemented in-house through outside training and hiring, or via outsourcing to an expert in the field. To learn more about these and related issues, check out a few of our popular blogs:

First Notice of Loss Key Terminology

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July 11th, 2014

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There several important terms when discussing first notice of loss. Though many are unfamiliar with the concept, it stands as a crucial component of many successfully operated large businesses.

  1. FNOL – Abbreviation for First Notice of Loss, the initial report of a claim or incident resulting in loss of an insured product. A crucial element of insurance coverage.
  2. FROI – Abbreviation for First Report of Injury, the initial report of a claim or incident resulting in injury to an employee. A employer practice required by law.
  3. Claim Management – The conveyance of an insurance-related claim through a system of communication and investigation to ascertain the appropriate compensation. The more adept and timely the claim management, the less shrink for insurers and the higher satisfaction for clients.
  4. Incident Reporting – A system of documentation for FNOL in which specific details must be thoroughly recorded to ensure proper claim management. Well-trained personnel and a modern, sophisticated incident reporting medium significantly reduce costs due to slow resolution, shrink, and other organizational issues.
  5. Claim Intake Specialist – Personnel cross-trained in claim management and incident reporting to deliver maximized resolution for client and insurer with minimized investment of time and resources.

Numerous other components comprise a comprehensive FNOL program, but familiarity with the basic terms makes it much easier to understand the process of first notice of loss and the benefits of leveraging FNOL in large businesses.

Incident Reporting and Claim Intake Best Practices

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May 28th, 2014

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Cost-effective incident reporting management is dependent upon capturing accurate information, the first time, whenever an incident occurs. When policyholders call to report a notice, they should be greeted on behalf of your organization by an Intake Specialist, trained to handle worker’s compensation, auto, property, general liability, short-term disability, and long-term disability claims. Intake Specialists capture all relevant data using a best practices workflow developed over years of first notice of loss (FNOL) experience. Alternatively, enter notices can be entered directly into your in-house claims management application via the Internet or secure connection. Providing Medical Coding, Duplicate Checking, Quality Assurance Reviews and Notice Completion in addition to streamlined and skilled services keeps Actec Intake Specialists ahead of the curve.

Catastrophe Reporting: Weathing the Storm

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May 12th, 2014

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How can your business handle FNOL call volume in the event of a catastrophic incident? Outsourcing all specific-incident calls or general overflow to claim intake professionals will dramatically reduce the likelihood of long wait times, missed claims, and other volume-related issues. High bandwidth technology including fiber optics, VoIP switching, and cloud storage allow for greatly increased call handling efficacy. Further, custom scripts that capture critical information and automatically transfer to a central database for access and reporting will mean that your business is never in the dark. These are a few of the many attributes crucial to expert catastrophic incident reporting. To learn more, contact us.

Insight into the Incident Reporting Process

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April 24th, 2014

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The companies providing full-cycle claim and incident reporting solutions help insurance carriers, self-insured companies, third party administrators and managed care organizations to improve their productivity and reduce costs. Cost-effective insurance
claim reporting management depends upon the efficiency of collecting accurate information for the first time, when the incident occurs. The incident reporting process includes the following steps:

  • Analysis of the current process:

The company uses the best practices to make a complete and fully organized report providing various reporting channels such as telephone, e-mail, fax and even electronic file
submission. They respond quickly to critical incidents and prepare customized plans specifying data collected and formats of reports, detailed recipient notification and other vital details.

  • Reporting of the incident:

The company’s specialists are available 24/7, 365 days a year for the first notice of loss to handle worker’s compensation, short-term and long-term disability claims. They develop a step-by-step documentation of all records to provide a complete audit trail for every type
of contract received.

  • Converting claim reports into actionable information:

After intake of necessary information, the company helps close claims quickly by providing essential services. Some of these services include triage to ensure escalation of critical situations, performing medical coding, duplicate checking to flag matches, quality assurance reviews, follow-up completion of claims and many more. Claim number assignment is also done to track notices from the company according to your rules.

  • Expediting completed reports to key recipients:

The incident reporting process does not end at a claim’s closing, but also includes expedition of completed reports to government agencies in formats like EDI, mail, text message, phone or e-mail. The insurance claim reporting services provider maintains all
current state FROI for worker’s compensation and performs all state filing procedures of FROI and subsequent reports of injury and medical bills.

  • Managing risk effectively:

Complete and timely incident reporting results in reduced claims paid out, lower claim handling expenses, and decreased costs. A complete overview of your organization helps to identify and manage risks more effectively.

First Report of Injury and the Importance of Timely Response

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April 9th, 2014

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FROI, or first report of injury, is a critical component to compliance with workers comp guidelines. Whether or not an employer agrees with an employee, the FROI must be filed. Typically reports are required when an injury causes an employee to miss 5 or more paid workdays, and must be submitted within seven business days of the fifth missed day of work. Each state has its own FROI form, available online, which should be completed in quadruplicate. One copy must go to the state, one must go to the employee, one to the insurer, and it is recommended to keep one for business records.

If a doctor sees the employee, and the employee complains of work-related injury, he or she is also compelled to file a report. Neither report exists to comment on the veracity of the employee or employer, solely to begin a paper trail to ensure that dates, times, and places can be known to as great a specificity as possible when ascertaining the proper course of action. Like FNOL (first notice of loss), the more promptly and accurately FROI forms are completed, the more likely a positive outcome.