When trying to negotiate all your claims and collect payment on your own becomes too much to handle, outsourcing can be a solution for your restoration business. But how do you know if a restoration claims management company is the right partner for your restoration business? We talked to Connor Trahan, an Account Executive at One Claim Solutions, who works with restoration contractors every day weighing outsourcing decisions for their business. Here is the insight he has for restoration contractors who find themselves in the same situation.
Deciding to outsource restoration claims management is a big decision with the potential to drastically impact your business’s finances and operations. So how do you know if outsourcing is the answer? In short, here are some key signs that it’s time for your business to outsource claims management:
If you’ve identified claims management as a point of frustration within your business, don’t let yourself become so overwhelmed with outsourcing options that you fail to make any decision at all.
“I tell people all the time, whether you move forward with us or not, the goal if you’re seeking a solution, should be to find a solution. If you make all this effort and sit on all these calls, and then, at the end, just stick with the status quo, you really did yourself a disservice,” Connor explains. “Somebody within the organization identified a problem that you’re looking to solve… If you don’t come to a decision, that’s probably not a good thing, regardless of who you go with.”
It can be challenging to know which claims management company is the right one for your restoration business. Here are important traits to look for in potential outsourcing partners:
When you’re speaking with sales representatives at different companies, pay attention to which company is straightforward versus which company seems to be promising things too good to be true. “You want to make sure when you’re evaluating people, you’re getting information that is transparent and honest, not just what you want to hear,” Connor explains. Outsourcing partners who are willing to be transparent with you during the sales process are a good predictor of an honest partnership.
Look for a claims management partner that uses specific metrics to measure success. “Somebody who’s coming in and just giving you generalities… can be a red flag,” Connor says. Credible claims management companies will be able to explain the benefit of their services using specifics like claim processing time or revenue growth.
When you entrust collections and claims negotiations to an external partner, you need to be able to trust your money in their hands. Look for companies that take this responsibility seriously and have security measures in place to protect your money.
“Make sure whoever you’re evaluating is really trying to understand you and your pain and then tie it back to what they do and not the other way around,” Connor advises. If you’re getting the impression from a sales representative that you are a means to an end for them, that’s a bad sign. Look for a company that takes the time to understand your company’s needs on an individual level and has your best interests in mind.
OCS has helped restoration contractors all over the country reduce their time to pay and increase their collections. If you’re looking for a partner to help your restoration business handle your claims, our claims management services at One Claims Solution could be a good fit for your company. We prioritize transparency during the sales process. If your company is handling claims collections well already, and we don’t think we are the right fit for you, we’ll tell you. Reach out to our team today.