Continuous Claims Monitoring Helps Companies Manage Costs More Closely During Challenging Economic Times
TFG Partners’ Continuous Monitoring Service Provides Near Real-Time Data on Benefit and Medical Claim Payments, Including COVID-19 Cases
TFG Partners, one of the leading corporate medical claims auditors, is being called on to provide secure continuous claims monitoring service to an expanded list of corporate clients. Continuous monitoring is a precise and highly effective management tool for controlling medical, prescription and other benefit plan costs while assuring employee-members are being well-served during times of extreme need.
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The global coronavirus pandemic and the current explosion in cases across the United States has the costs of self-funded medical plans changing dramatically — and it shows no sign of letting up soon. Claims administrators are handling increased volume, including previously unknown and widely varying coronavirus case billings. Many of these administrators are short-staffed staff as a result of COVID-19 themselves. The situation today is creating a perfect storm for errors, overpayments, and out-of-control co-pay and medical claims payments.
“There has never been a time when it’s more important for medical plan managers to keep a close eye on their claim payments,” observes Pieter van Hoeven, Principal, TFG Partners. “Secure continuous claims monitoring is the way to do it. Continuous monitoring catches errors with a value greater than the cost of the service, and in unprecedented times like these, it often brings far more in savings than it costs.” In addition to cost containment, monitoring claims continuously helps plan managers to assure the correct delivery of medical and other benefit services to employees and their dependents.
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