5 Tips For Choosing The Right TPA

While many risk managers have had excellent experience with their third party administrators (TPAs), others have been disappointed. Unfortunately, when the match isn’t right, the risk manager may be left with poor claim outcomes, higher claims and insurance costs, and difficulty identifying issues and making corrections. The key to successful relationships often hinges on the risk manager’s ability to set priorities and evaluate prospective TPAs and other claim service providers accordingly, based on objective, outcome-based metrics.