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Record Retrieval Blog

The Importance of Choosing the Right Litigation Support Vendor to Maximize ROI

Posted by Scott Tamfer on Jul 23, 2015 2:02:58 PM
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The most recent issue of Claims Litigation Management Magazine the article "State of the Union" (Smith, Taylor & Javadizah, Shaheene) featured some great insights regarding the collective claims litigation leadership perspective on vendor selection, both panel law firms & core litigation support providers.

The article highlights some important trends:

  • There is a growing consensus that claims & claims inventories are on the rise.
  • Evidence suggests that the rising inventories in some organizations may be a result of difficulties in the pre-litigation stage.
  • Trends indicate that insurance executives are looking to reduce the size of their outside panel because they feel staff counsel can be more efficient.
  • More companies are reporting taking ownership of the procurement of litigation support services (rather than leave these decisions to staff or panel counsel.)

 Yet.....Costs are still rising? 

"More executives feel that costs per litigated claim file have increased rather than decreased. A full 44% believe that, when compared to three years ago, average cost per litigated case have increased"

       - Smith, Taylor & Javadizah, Shaheene. “State of the Union” Litigation Management Magazine Summer 2015: 26-31

 T-Scan protects companies against phenomenon described above by assuring:

  • Competitive pricing to minimize spend per claim/case.
  • Industry leading record turnover rates (averaging 17.2 business days) reducing cycle times.

And POSSIBLY most importantly....

  • A single point of contact (for end-users) with the tenure and training to eliminate the unnecessary "Time Cost" of interacting outside service providers. 

T-Scan exists to proliferate the "Time Cost" savings though the both uniform and complex claims litigation organizations.

If you would like to learn more about how T-Scan maximizes value with, please check out the recently published case study.

Link to Seamless Case Study

 

 

 

Topics: Record Retrieval, Litigation Support, Claims, T-Scan, CLM, Insurance Claims