To be sure that you’re selecting the right workers' compensation claims compliance and reporting partner, a vendor’s track record is the closest thing to a “crystal ball” that exists.
“To stay competitive in today’s marketplace, companies need complex and multi-faceted digital capabilities,” writes Rashmi Dalia in The Economist. “However, no one company can easily possess all the resources needed to develop robust technology systems, and trying to do it alone can prove difficult and costly.”
“To stay competitive in today’s marketplace, companies need complex and multi-faceted digital capabilities,” writes Rashmi Dalia in The Economist. “However, no one company can easily possess all the resources needed to develop robust technology systems, and trying to do it alone can prove difficult and costly.”
For insurers and TPAs, choosing to work with a technology partner has increasingly become a critical strategic decision. 76% of respondents to a 2017 Accenture survey agree that “competitive advantage will not be determined by their organization alone, but by the strength of the partners and ecosystems they choose.”
Identifying gaps and areas in core systems where it makes the most sense to integrate third-party technology is one part of the challenge. Equally important to finding the right technology solution is having confidence in the people behind the technology.
Why an integrated claims compliance and reporting solution makes sense
"The High Costs of not Automating Claims Reporting", highlights workers’ compensation claims compliance and reporting as strong candidate for integrating a third-party solution.
The post points out the financial impacts of a manual compliance and reporting process. This includes the amount of time adjusters spend finding the correct version of forms, accounting for time spent correcting errors that result from manual entry of claims data, and the siloing of claims data in relation to state forms and custom letters.
What makes a successful claims compliance and reporting partner?
According to Rasmi Dalia, “successful partners share the same expectations on the quality, implementation, and evolution of a technology solution.” Unfortunately, whether or not a vendor’s expectations match yours is only truly evident after a contract is signed and implementation is underway.
To be sure that you’re selecting the right claims compliance and reporting partner, a vendor’s track record is the closest thing to a “crystal ball” that exists. “7 Habits of Highly Successful Technology Partnerships” lists characteristics to look for, including the following:
- Depth of experience -- “Practice makes perfect; the longer you work on something, the better you get at doing it… Look for a partner who has refined their approach over time and brings a wide knowledge base informed by past successes.”
- Willingness to collaborate -- Has the vendor demonstrated the ability to work closely with clients and adapt in order to achieve successful outcomes?
- Reliability -- “You should expect that any vendor you purchase from will stand-by and support their solution with an in-house body of experts...You need to feel confident that your partner is in it for the long haul and will be there for you as your needs change over time.”
- Investment in client success -- Can the vendor point to lasting relationships that demonstrate a commitment to their clients?
Why Origami Compliance is the right partner
Origami Compliance seamlessly integrates via API with virtually any claims systems to provide a single, reliable, and cost-effective source for state forms. This not only allows for the automation of the claims reporting process, reducing the impact of a manual process, it also offloads the expense of maintaining an up-to-date forms library in-house.
In addition to providing compliance and reporting solutions that work, Origami Compliance has also proven to be a partner that is more than capable of working together with clients as they evolve their offerings and grow their businesses. The examples of two, long-time clients prove the point.
One client, Company Nurse, developed an innovative approach to providing nurse triage for workers’ compensation. By combining innovative technology with a proven interview methodology, the organization has been able to drive down the costs of the intake process for their customers by 20-30%.
Their partnership with Origami Compliance began with the handling of a small number of forms and expanded to “include a virtually unlimited number of standard and custom forms.” This led to a system with a highly flexible core. As a result, Company Nurse was able “to easily adapt to each client’s unique requirements.”
Athens Administrators, a California-based TPA, turned to Origami Compliance when it was seeking a claims reporting solution that could be tailored for each of the company’s clients. Providing access to a claim reporting portal was primarily seen as a way to better support clients and their employees.
Today, using the solution, Athens is able to deliver to their clients as a result of the team’s relationship. According to Emily Kephart, Claims Operations Manager at Athens Administrators, “Creating a partnership with your vendors is the key. Choosing a company like Claimwire [now Origami Compliance] that can be a true partner and can grow with you has really worked well for us.”