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Medical Records Retrieval Services: The Best Solution for Life Insurance Companies

Medical records are the lifeblood of insurance companies. They are what insurance givers use to determine the legitimacy of claims. Plus, they can also act as evidence at the court of law often used by attorneys of insurance companies to enhance their cases.

Insurance companies are notorious for outsourcing medical records retrieval services. It just works better that way—both for financial and efficiency reasons. By shelling out some coins, you can snoop into the medical records or your clients or opponents in record time.

This guide delves deep into the topic of medical records retrieval services and why it is the best solution for insurance providers.

Why Hire Medical Records Retrieval Services?

Medical Records Retrieval Services

There are a few benefits of outsourcing an American medical retrieval records company as an insurance giver:

  • You avoid the cost of having to hire an in-house medical retrieval professional.
  • A professional record retrieval company knows the ropes of the business quite perfectly. They will tell you which forms need to be filed and whom to contact for help. They will also ensure you get your hands on the relevant records in good time.
  • Having correct medical records gives you an upper hand over your opponent in court because you have crucial evidence.
  • It helps avoid errors that come with the retrieval of records
  • You will rid your team of having to run around looking for clients’ medical records, and in turn, allow them to focus on important things like preparing for the case or negotiating compensations.
  • A reliable retrieval company is fast and efficient. You can always depend on them to get you what you want well ahead of time.

What to Look Out For In a Medical Records Retrieval Company

As an insurance giver, you can enjoy the aforementioned benefits only if you land on the right vendor. Otherwise, you will waste your hard-earned money on unscrupulous and incompetent retrieval companies. So, what should you look out for?

  • Experience: Experience comes before anything else when it comes to medical records retrieval. The job demands it. They should understand the retrieval process like the back of their hand. In addition, they should also have a ton of contacts for nationals and state agencies at their disposal. These two attributes will go a long way in getting the records you are after as quickly as you want them.
  • Timelines: Time is a precious commodity in the world of insurance. Courts don’t have provisions for late-comers. As an insurance company, you want nothing but fast turnarounds on your requests. Ask the medical record retrieval company if they have quick turnarounds. Can they get to your requests within a 24-hour period? Additionally, you want to check how they draft their contract with regards to timelines. Avoid open-ended contracts because these can dilly-dally way too much.
  • Type of Records they specialize in: Most record retrieval companies have specialties as far as records are concerned. Some deal solely with employment records while some deal with social security records or medical records. To get you to do business with them, some of the companies will lie to you and say they’ve been on the medical field before. You must be very careful before signing that contract.
  • Delivery Process: Find out how they grant your request. Do they deliver your records via mail or will they send a courier instead? Can they use option B if you ever need it? Plus, how do they package the records? Are the papers lose, bound, or labeled? How about notarization and sealing? These are important questions to ask before choosing the best guy for the job.
  • Retrieval Capacity: When determining whether the firm can handle your requests or not, do not merely look at size. Yes, it is comforting to know that it can accommodate a large volume of requests but their efficiency should be more of a priority than size. Avoid national retrieval companies that are understaffed or those with plenty of untrained employees. Before picking a vendor, ask them to explain how they handle volume. They should also have a high level of retrieval success rate.

Cost implications

Medical record retrieval companies charge different prices but overall, most have similar rates. On average, the cost would charge anywhere from $30 – $50 flat fee per record, no matter its size. Other vendors would base their prices on the number of pages of the file you are asking for. In this case, expect something in the range of $90 and $130 for a 100-page medical record file. Again, price differs with each vendor. You would be better placed asking for a quote before going further. While at it, be sure to find out if you can get a discount. Most record retrieval companies offer discounts quite often.

Medical record retrieval is vital to any insurance company. Even though they can be expensive at the time, they offer handy services that can save your thousands (if not millions) of dollars in the long run.

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