Claims management refers to the way an insurance company or third party administrator settles claims made by insured parties for incurred losses that are covered by an insurance policy or contract. Insurance companies need to exercise extreme caution when assessing losses. They do this to avoid overpaying the claimant. On the contrary, claims management companies…
DetailsCommon Procedural Technology (CPT) codes are a five-digit numeric or alpha numeric codes set and maintained by the American Medical Association. It describes the diagnostic, medical and surgical services and procedures provided by medical practitioners to their patients. It is designed to allow medical practitioners, payers, accreditation companies, and coders to share the same information…
DetailsBad faith insurance claims settlement practices are actually more common than you think. According to UPCounsel, insurance bad faith is a legal term used exclusively in the United States when discussing acts of bad faith by an insurance party. By law, insurance companies are required to act in good faith when dealing with their policyholders…
DetailsA catastrophe is an event that causes substantial damage to homes and property. A catastrophe could be a fire, storm, flood, earthquake, hurricane or man-made disasters such as terrorism. If a catastrophe occurs and your house happens to be one of its casualties, you can be compensated for its damage or loss if your house…
DetailsMedical debt has become a major problem in America. In fact US News cited that 1 in 5 American adults are in debt because of medical bills. Medical debt accounts for more than any other type of debt when it comes to bill collections. But the good news is that medical bills are negotiable. In…
DetailsFiling an insurance claim is the first step you need to make in order to be compensated for your medical expenses, lost earnings and other damages caused by the incident. If you sustain injuries resulting from an accident, you are entitled to file an insurance claim either with your own insurer or the insurance company…
DetailsEvery year, millions of dollars worth in property damage, serious injuries and business disruptions are caused by products that are defective, unstable, faulty or misused due to incorrect labels and instructions. The United States Consumer Product Safety Commission has an updated and comprehensive list of injuries and deaths due to anything from televisions, furniture, appliances,…
DetailsAction Claim Service was awarded Claims Company of the Year by the Professional Insurance Agents of Arkansas (PIAAR) at the recently held 74th annual PIA conference in Fayetteville. This is the 4th time that Action Claim has been given this prestigious award in the last 10 years. CEO Michael Mann was proud to accept the…
DetailsDamage to property or injury is a normal possibility associated with our daily activities as we go about our business. You may inadvertently cause damage to somebody’s property, or find that someone is causing damage to your own property. It’s a good thing that most possessions today are covered by insurance. When this happens, your…
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