22 Apr Third Party Liability Insurance Coverage Claims
A third-party accident/injury claim is a claim made by a sick/injured person with an insurance company other than their own. Many car accident claims are third-party claims. When you have a car accident, injury, or other problem, you must file a claim, contacting the responsible party’s insurance company by telephone or mail. This is called “giving notice.” Prompt, proper notice could mean the difference between you paying or the other party paying.
Third-party insurers often have much red tape to cut through before they pay the claim, so be prepared to answer questions and fill out forms. Create a record of your claim, so you can file it. This will be needed should the incident result in a lawsuit. You will need evidence to support this. This involves gathering relevant records related to the accident/injury, medical bills, police reports, and repair estimates.
Characteristics of a Third-Party Claims
There are certain characteristics of a third-party accident/injury claim that are universal. These include:
- The third-party claim does not involve any contractual obligation between the insurance company and the injured party. The third-party claim is simply a legal name for making the claim on the other person’s insurance policy. Exactly when and how such claims are made vary, based mainly upon the presence of no-fault laws. However, the overriding principle remains constant.
- If you are injured driving a company car, or when the other driver is at fault, you must make a third-party claim. These claims also involved your employer’s insurance company when you are injured at work.
- Third-party accident claims are more prevalent in “fault” states than in “no-fault” states. If you are injured, you are entitled to file a claim with the other driver’s insurance company, provided the other person was at fault for the injury.
- A third-party claim can be complex, depending on the injuries, facts, and type of accident. If fault is not in question, insurance adjusters try to resolve the claim quickly. Normally, a review of the medical records, brief interviews, and evaluation of law enforcement reports are needed to determine the settlement.
Navigating regulatory and payer requirements can be a daunting task when dealing with a third-party claim. MPMR Medical Billing is skilled in third-party insurance claims, and we reduce errors and improve collections regarding these issues. Our services will allow you to:
- Accelerate cash flow and improve collections
- Reduce administrative costs
- Address compliance confidently
- Achieve efficiencies
- Minimize billing denials
In addition, you will enjoy the long-term benefits of our revenue cycle specialists who provide efficient billing services for your specialized medical practice. We are dedicated to your financial success, and we are committed to tracking all submissions to resolve claim issues. Our billing team and certified coders use advanced workflow technology to navigate third-party billing and the complicated reimbursement process.
Improve Revenue Cycle with Proper Third-Party Claims Submission
MPMR Medical billing is here to ensure that compliance is vigorously integrated into our daily operations. We supplement these procedures and policies with external and internal audits, which are performed by people skilled in identifying inaccuracies that may reduce or delay reimbursement. In addition, our comprehensive business platform offers in-depth insight into the many aspects of your practice, which includes provider productivity.
With MPMR Medical Billing, you get a dynamic revenue cycle management solutions, which are designed to meet the demands of the ever-changing healthcare economy. With our services, your practice will receive:
- Eligibility verification
- Data scrubbing and payer-specific rules processing
- Demographic verification
- Specialty medical coding
- Physician credentialing
- Variance reporting
- Third-party medical billing