Corcentric Indirect Materials

Claims Recovery Services

Indirect Spend Management Consulting

Subrogation Management and Claims Recovery Services Cost Reduction

Increase recoveries and lower recovery costs through strategic sourcing

Typically, health insurance companies and other payors in the insurance industry outsource a significant portion of their overpayment recoveries operation and unrecovered claims to independent providers. While this is a popular operating model, many insurance payors struggle with establishing competitive pricing that can ensure high levels of recoveries at fair costs.

Corcentric can help! Through our diverse portfolio of strategic sourcing services and vast experience in the claims recovery services arena, Corcentric can offer exceptional cost reduction support by benchmarking your subrogation management and claims recovery costs, identifying competitive providers, and negotiating rates while ensuring the optimization of your claims recovery operation.

Strategic sourcing and claims recovery: Market Intelligence

Our strategic sourcing and claims recovery experts offer a unique approach to optimize your incumbent claims recovery operation. Our sourcing teams leverage our volumes of proprietary, up-to-date market intelligence, identifying best-in-class solutions to your subrogation management and claims recovery needs. This includes:

Corcentric can help you negotiate and reduce the contingency fees offered by claims recovery services providers. Our strategic sourcing and procurement experts can identify more competitive “shared savings” models specific to your operation and the stature of incumbent suppliers utilized within your claims recovery process.

Popular services within the claims recovery category include:

We know the complexities behind claims and overpayments recovery and understand how important it is to streamline and improve collaboration with your incumbent claims recovery services providers.

Our strategic sourcing claims recovery experts can help you evaluate the pricing structure you are receiving from your claims recovery and auditing services provider(s), and can help you reduce your cost without compromising service quality.

Contact us for help with strategic sourcing for your claims recovery needs.

Case Study

Finding Savings on Claims Recovery

The client was a large, regional health insurer with an annual claims recovery spend approaching $7M, split across two providers. Corcentric was asked to identify alternate suppliers capable of providing all Claims Recovery services at a reduced rate, as the client wished to consolidate resources. The services at issue included:

Corcentric conducted a wide-ranging search, identifying eight alternate suppliers. An initial round of market polling, via RFI, eliminated four. Corcentric then conducted an in-depth RFP with the four remaining alternates and the two incumbents. After exhaustive polling and supplier scorecarding, Corcentric identified a single alternate supplier capable of providing all requested services at a savings of more than 30%, and negotiated a contract with them on behalf of the client. We then oversaw the supplier changeover and project implementation.

The project was a success and Corcentric maintains a working relationship with the client today.

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