March 2010 – Great Time for Closed File Audits

Now is a good time of the year to clear out all the old claims files and get them checked over for possible recovery opportunities. Closed File Audits are a specialist service provided by DRA.  Through closed file reviews money is recovered on behalf of a client from insurance claims that have previously been closed. One of the greatest internal expenses experienced by a lot of  insurance organisations is claims leakage.  Claims leakage can occur for a number of reasons including:

  • Overlooked information
  • Miscoded claims
  • Data Entry Errors
  • Non-economical pursuits
  • Judgments with no recovery
  • Un-locatable third parties
  • Other overlooked recovery opportunities

 

We assist many clients in identifying and reducing claim leakage through conducting periodic closed file audits.  A  member of DRA’s recovery team conducts an onsite visit periodically as agreed, reviewing each closed file and actioning those files that have a potential for recovery. DRA is responsible for all expenses involved. We can audit paper files or conduct an audit of your paperless files online. A paperless review can be done remotely or on-site.

Closed file audits result in many of DRA’s clients experiencing increased recovery rates while reducing their claims costs.

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