The system of processing and handling insurance claims is fraught with inefficiencies.
That is not to say it is entirely flawed, but, if we are being honest, we have all heard the same refrains for years: too many claims and not enough hours in the day; unresponsive counsel, perpetual extensions; time limit demands and no time to think through the issues properly; unhelpful and unproductive mediations; the ever-looming threat of Medicare compliance; tort reform legislation; low rates.
In considerable measure, the game is rigged against industry efficiency, and the economics of change are too daunting to undertake. For example, insurance companies cannot simply hire enough help to relieve overworked examiners, and there are only so many billable hours in a day. However, while the business’ economics is a source of the problem, it may also be the source of the solution.